The average insurance cost of a Tesla across all models is $227 a month, or $2,724 a year. There are several factors that contribute to the high price tag: Teslas are electric vehicles, for example, and they come with higher MSRPs than the average car.
For more insight into insurance costs, click on a specific Tesla model in the list below. You’ll find average monthly costs, base costs and where certain models rank in our list of most expensive cars to insure.
Tesla Car models
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Special notes
- Electric cars tend to have higher insurance costs because they’re generally more expensive than gas vehicles. Tesla’s vehicles, of course, are all electric.
- The Model S and Model X are high-priced vehicles, with base costs of $74,500 and $79,500 respectively before incentives. Accordingly, it costs more to insure them.
- Insurer AAA announced in June 2017 that it would raise its rates on Tesla cars as high as 30 percent. The company says Teslas tend to attract more-frequent and higher-cost claims.
- On Tesla’s part, the company is putting its money where its mouth is. It’s started to give select customers lifetime insurance and maintenance packages.
- You may want more than just minimum liability coverage for your Tesla, expanding your protection through an umbrella policy and comprehensive coverage.
Companies that offer coverage for Teslas
Most major insurers will cover your Tesla. However, prices may vary widely. Compare multiple providers to find the best price.
About the Tesla brand
Today, Tesla is most closely associated with the billionaire visionary Elon Musk. Musk wasn’t involved in the company when it was created in 2003 by Martin Eberhard and Marc Tarpenning. However, he’s perhaps the biggest force in bringing Tesla to prominence.
Tesla manufacturers the Model S and Model X, a stylish sedan and head-turning SUV, respectively. It also sells the Model 3, a mid-priced sedan that is aimed at the mass market.
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