How much does Tesla car insurance cost?

While Tesla might be relatively new compared to other car manufacturers, it dominates the electric vehicle (EV) market. You won’t find any hybrids here–Tesla is all in when it comes to creating sustainable, fully electric cars. From sedans and SUVs to a Cybertruck, you can find an option that works for you.

How much you pay for insurance depends on which model you have, the vehicle year, where you live, and your driving history, so getting a car insurance quote relies on multiple details. The only way to truly understand how much your car insurance will cost is to compare car insurance quotes.

How to find the cheapest Tesla car insurance quote?

Fortunately, you won’t have to pull out a calculator or spend hours getting quotes since Jerry can do the hard work of research for you. In fact, Jerry has helped thousands of Tesla owners save on their car insurance premiums.

Let’s look at some real-life examples Jerry found while researching how much Tesla owners pay for insurance.

The best car insurance companies for Tesla drivers

While shopping for car insurance, you want to find the perfect fit for you and your vehicle.

Insurance isn’t a case of one-size-fits-all when it comes to finding the best insurance company for your Tesla because how much the insurance premium costs depends on where you live, If you have a clean driving record, how much insurance coverage you need, and even your marital status. Fortunately, you can take advantage of Jerry’s hard work to help you review coverage options.

Here’s how Jerry customers rated various insurance companies on a 5-point scale.

Insurance costs for popular Tesla models

One thing that affects the cost of car insurance is which Tesla model you own. Here are some reasons the model can impact your specific rate:

• Safety features: Tesla loves high-tech features like park assist and Tesla Vision, which help keep you safe and save you money on insurance.
• Vehicle value: Electric vehicles (EVs) are on the more expensive side, thanks to those lithium batteries, while demand remains high, which drives up the prices of everything.
• Vehicle class: A Model X will increase your rate as an SUV versus the Model 3 sedan, while just owning an EV automatically ups the cost.
• Engine size: The Model 3 comes in at under 500 horsepower, compared to the Model X’s impressive 1,020 horsepower, something insurance providers take into account. Engines with more power are considered riskier, affecting your insurance premium.
• Availability of replacement parts: Tesla voids the warranty if you take your vehicle to a non-Tesla mechanic, so you cannot shop around for lower offers. It also means a limited number of suppliers for both parts and repairs, all of which add to your bill.
• Cost of repairs: Since Tesla vehicles rely on high-tech options and more expensive parts like lithium batteries, your insurance company will charge you more to offset any bills they must pay if you file a claim.

Let’s look at the average cost for car insurance coverage on Tesla models:

Every state sets its own minimum coverage insurance, the legally required basic insurance you need as a driver. Usually, this includes basic liability insurance, which covers bodily injury and property damage liability, though some states require extras.

You can opt for additional items with full-coverage insurance, which adds options like collision and comprehensive coverage. This helps with your medical or repair bills, which aren’t covered by minimum insurance.

Tesla Model S insurance costs

As one of the earliest EVs on the market, the Model S has been around a block or two, but that doesn’t mean it can’t keep up with newer models. The average Tesla Model S insurance is $228 per month if you want full coverage and $84 per month if you go with the state minimum coverage.

Which trim you have affects insurance costs. A trim level just means the different versions available for that car model since each trim offers its own combo of features. You get two choices for the Model S, the base or the Plaid version:

• S Base: Starting MSRP $86,380, the base model gives you the longest range of any Tesla at over 400 miles on a full charge, dual motors for 670 horsepower, and nice extras like a 17-inch touchscreen infotainment system. You also get options like Enhanced Autopilot and plenty of safety features.
• S Plaid: This trim is the powerhouse of Tesla and features a starting price to match at $106,380 MSRP. Thanks to a triple motor, you’ll get an amazing 1,020 horsepower, though you’ll get an average of only 396 miles of range, slightly lower than the base model. Still, if you’re looking for a vehicle with that extra punch and extreme acceleration, then the S Plaid is it.

Your repair and replacement costs are slightly more for the Plaid trim, so insurers consider them a higher risk.

In the table below, you’ll find real quotes for Model S driver from Jerry to better understand how your driver profile impacts your cost.

Tesla Model 3 insurance costs

The Tesla Model 3 is the most affordable vehicle in Tesla’s lineup, but that doesn’t mean they skimp on the features. You also get to pick from more trims than the Model S, so you can prioritize options that are important to you. You get a lot of bang for your buck with the Model 3.

Based on our research, Tesla Model 3 owners pay an average of $223 for full-coverage insurance. Of course, remember that your costs will differ since insurance companies consider many variables when ringing up that insurance bill, including where you live, how old your car is, and your driving behavior. How much coverage you opt for also affects your cost.

Which trim option you pick for the Model 3 makes a difference for your insurance premium. Here are your options when it comes to the Model 3 trim levels:

• Base (RWD): As the only model that uses rear-wheel drive (RWD), the Base model starts at $43,380 MSRP and gives you 272 miles on a full charge. It also has the slowest acceleration of the three trims, thanks to a modest 271 horsepower engine, but it will get you where you need to go. Its 15-inch touchscreen helps with navigation, though the Model 3 does not offer Apple CarPlay or Android Auto smartphone integration. This trim is a great choice if you want an affordable and reliable EV for everyday use.
• Performance: For a starting MSRP of $54,880, you’ll get 315 miles of range with this trim and faster acceleration thanks to dual motors with a combined 455 horsepower, plus all-wheel-drive (AWD). You also get some nice extras, like six additional speakers and a subwoofer. However, the bulk of the extras focus on the motor and battery capacities.
• Long Range: As the name implies, you can get the most out of your battery with the Long Range at 333 miles, so this trim is a great choice if you like to travel or want to avoid range anxiety. You get a slightly slower acceleration with a 425-horsepower engine, but you’ll barely notice as you add up those miles on a single charge. You also get the better audio system offered by the Performance trim, but it’s really about that battery range. With a starting MSRP of $48,880 this trim gives you a good balance between affordability, practicality, and performance—that sweet middle spot between the Base and Performance trims.

In the table below, you’ll find real quotes for Model 3 driver from Jerry to better understand how your driver profile impacts your cost.

Tesla Model X insurance cost

The Tesla Model X has a lot in common with the Model S, but offers the extra room and cargo capacity of an SUV, as well as a noticeably higher price. It’s also the most futuristic design of any of Tesla’s lineup. This model is a good place to start if you want an EV version of an SUV and a unique design.

You’ll be looking at an average monthly insurance cost of $250 for full coverage and $97 for state minimum coverage if you own a Model X. However, your specific cost will depend on details like your driving history and more.

As with the Model S sedan, the Model X SUV comes in two trims:

• X Base: For a starting MSRP of $101,380 you can get up to 348 miles of range with this SUV, and dual motors give you a combined 670 horsepower. You can pick from the square or round steering wheel, and the rear doors are wing doors that open horizontally instead of vertically (think Back to the Future). You also get other futuristic options like Summon, plus multiple safety features.
• X Plaid: Starting $111,380 MSRP, this trim is all about power. You get triple electric motors that give you a whopping 1,020 horsepower, while the battery keeps you going for up to 333 miles on a single charge. You still get the 17-inch touchscreen display and 22 speakers throughout the interior, but the biggest difference is the horsepower. If you want a combination of futuristic design and power, then you’ll want to consider the X Plaid trim.

Let’s see what insurance can cost for a Model X based on real-world owners:

Tesla Model Y insurance costs

If you’re interested in an SUV but don’t want the more futuristic extras like wing doors that come with the Model X, then you’ll want to consider the Model Y. Probably one of the biggest perks this SUV offers is the optional third row of seats—a nice extra for families. It’s also one of the few fully electric SUV options on the market, so it’s a nice alternative to hybrid models.

Like any higher-end vehicle, choosing the Model Y will add to your insurance premium. You’re looking at an average of $220 per month if you want full coverage car insurance for a Model Y versus $94 per month for state minimum coverage.

The Model Y gives you three options when it comes to trim levels:

• Y Base: For a starting MSRP of $52,630 you can get an affordable, down-to-earth electric SUV in Tesla’s Model Y Base. Tesla is trying out the new 4680 battery cells on this trim, which are supposed to store more electricity and cost less. You’ll get 279 miles out of a full charge, while the motor gives you 470 horsepower.
• Y Long Range: Add $2,000 for a starting MSRP of $54,630, and you’ll get an extended 330-mile range compared to the Base trim. While this trim only offers 384 horsepower, it also adds the optional third row of seats for longer family road trips.
• Y Performance: While you get 303 miles of range with this trim, starting at $58,630 MSRP, you also get faster acceleration and better handling. The engine gives you 456 horsepower as well, so you’ll get a lot more power behind you with this trim.

Let’s see what insurance can cost for a Model Y based on real-world owners:

Are Teslas more expensive to insure?

Compared to the average cost of other cars, Tesla vehicles cost 20% more to insure.

Always keep in mind that how much you pay for insurance ties to variables like your location, your driving behavior, how much coverage you choose, and so on, which is why you need to find insurance quotes based on your needs. For example, living in Los Angeles, California, is definitely going to give you a higher insurance rate than a rural town. Don’t rely on the average estimate–see what different companies offer for your rate to help find the right insurer.

What factors affect Tesla car insurance rates?

Multiple factors change how car insurance is calculated, such as:

• Vehicle cost: Collision and comprehensive coverage are more for electric vehicles and higher-end brands like Tesla.
• Vehicle age: That shiny new car is more expensive to insure thanks to new tech and a higher value.
• Cost of parts: Electric vehicles tend to have more expensive parts, especially batteries. Plus, Tesla does not allow for non-brand parts since it voids the warranty, so you can’t shop around as easily when it comes to repairs.
• Your age: If you are under 25, insurers will charge you more since you have less driving experience, while senior drivers often see increased insurance rates once they turn 75.
• Your driving record and claims history: If you have a clean driving record, you’ll pay less for insurance than a driver with multiple tickets, accidents, or other driving violations.
• Where you live: If you live in an area with higher crime rates or a big city, you can expect your rate to be higher than someone who lives in a lower-risk area.

Here are a few specific factors that impact auto insurance rates for Tesla:

• Materials: Teslas use more expensive materials, like lithium batteries and non-standard parts, so repair costs are higher.
• Safety: Teslas give you many safety options, such as Tesla Vision and parking assist, so those bring your cost down.
• Mechanics: You must use a Tesla-certified mechanic for repairs if you want your warranty to stay intact, so you can’t shop around for better prices. This means repairs are more expensive, which affects your insurance rate.
• Luxury brand: Any luxury brand will cost more when it comes to insurance, while electric vehicles (EVs) add to the expense.

Tesla insurance cost for young drivers

Teen drivers between 16 and 19 years pay the highest insurance rates out of any age group. If you have a teen driver who owns a vehicle, you’ll want full coverage for them to offset the higher accident rate.

Tesla insurance cost for senior drivers

Car insurance rates increase once you are past retirement age, usually at age 70 to 75. Car insurance rates for seniors tend to be higher since older drivers have higher accident rates, and are more susceptible to serious injuries if involved in a collision, which means higher medical expenses and increased costs for insurance providers. All of these reasons up insurance premiums.

Tesla insurance cost for drivers with driving violations

Tesla insurance costs also depend on your driving record. Tesla drivers without violations or at-fault accidents pay the least, but you’ll see an increase in your coverage if you have any of the following on your record in the last three to five years:

• Speeding tickets
• DUIs
• At fault accidents
• Reckless driving
• Driving on a suspended license

Cheapest car insurance for Tesla drivers with a speeding ticket

If you have one ticket on your record for driving less than five miles over the speed limit, it probably won’t impact your Tesla insurance premiums. However, multiple tickets or extreme speeding will affect your rate. Fortunately, Jerry can still help Tesla drivers with multiple speeding tickets save when finding car insurance.

How can I lower the cost of my Tesla car insurance?

Let’s look at ways you can save money when insuring a Tesla vehicle:

• Shop around: Comparison shop for insurance coverage to check quotes from multiple insurers so you know what the best price is for you. Jerry makes this process easy by gathering quotes from more than 50 major insurance companies in minutes so that you can see multiple rates. Once you find a better deal, Jerry can even help you sign up for your new policy and cancel the old one.
• Opt for an older or less expensive model: If you’re buying a Tesla, research insurance rates for different models ahead of time. Purchasing a small used sedan instead of adding your name to the waitlist for the upcoming Cybertruck can save you money on insurance.
• Bundle your insurance policies: Bundling your home and auto insurance with the same provider often means discounts.
• Participate in a telematics program: Some insurance companies use technology to track your driving habits. You could qualify for car insurance discounts if you show you are a safe driver.
• Reduce your coverage: If you have an older vehicle, opt to reduce coverage on it to lower your bill. No sense in going all in for a car that is so old it will fall apart after an encounter with a pothole.
• Raise your deductible: The deductible is the amount of money you agree to pay out of pocket before any collision or comprehensive insurance coverage helps with your claim. Even a tiny increase in your deductible reduces monthly insurance payments.