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Tesla Insurance Rates

What to expect when insuring a Tesla

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Average insurance cost for a Tesla

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.

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How a vehicle from Tesla affects the cost of insurance

Insurance companies look at several car-related factors when determining the cost of insurance, including the car’s safety ratings, its likelihood of being stolen, and replacement costs and overall damage susceptibility.

Tesla’s high price tag and the fact that it’s an electric car increase the cost of insuring this vehicle. However, great safety ratings help to temper costs just a bit.

Other factors that affect the cost of insurance include the model, mileage and trim package. Personal factors like your driving history, credit score and age also play roles.

Tesla car insurance rates by model

Model Monthly insurance rate Base car price
Tesla Model S $227 $68,000
Tesla Model X $227 $82,500
Tesla Model 3 $227 $35,000

Pros and cons of insuring a Tesla


  • Low theft rates
  • Great safety ratings


  • Electric vehicles are more expensive to ensure
  • Costly to repair or replace

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 manufactures 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.

Tesla car facts

  • 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.

What’s Tesla home charging installation services?

You’re going to need somewhere to plug in your high-end electric car. And now Tesla offers charging installation services in select states.

Bottom line

A Tesla’s high price tag means that it can be expensive to insure. So be sure to shop around to find the best car insurance for you.

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.

Name Product Roadside assistance New car protection Available states
Included free
Yes, cars under 2 years old
All 50 states
Enjoy having your own dedicated agent to help you get the best discounts and coverage.
Liberty Mutual
Yes, cars under 1 year old & 15,000 miles
All 50 states
Car insurance through Liberty Mutual will give coverage options for almost any situation.
Included free
Root offers simple, affordable insurance that’s ideal for good drivers. Try the Root app for 2 weeks and see how much you could save. Available in 20 states.
Included free
Yes, cars under 1 year old & 15,000 miles
All states except AK, DE, HI, MT, NH, VT, WY
Esurance offers a modern online and mobile experience that helps you take your insurance on the go. Available in 42 states.
Yes, cars under 1 year old & 15,000 miles
Drive less than 30 miles a day? Save on the coverage you need with pay-per-mile insurance from Metromile. Get a low monthly rate then pay just a few cents per mile. Available in AZ, CA, IL, NJ, OR, PA, VA and WA.

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Tesla competitors

Looking for other car brands? Find other car manufacturers that are similar to Tesla, or compare makes that are completely different.

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Frequently asked questions about Tesla

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