Compare Tesla insurance rates

Compare car insurance for Teslas

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Tesla Model 3

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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.

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Compare car insurance for Teslas

Name Product Roadside assistance New car protection Accident forgiveness Safe driver discount Available states
Progressive
Optional
30%
All 50 states
Choose from a long list of discounts and coverage for almost any driver.
Geico
Optional
26%
All 50 states
Customize your policy and get quotes online in minutes. Many drivers could save up to $500 by switching.
The Hartford
Optional
Yes
All 50 states & DC
Enjoy benefits including rate lock, no-drop policies and accident recovery. Exclusively for drivers 50+.
Metromile
Optional
49%
AZ, CA, IL, NJ, OR, PA, VA, WA
Pay-as-you-go rates based on how much and how well you drive start at $29/month plus pennies per mile.
Liberty Mutual
Optional
30%
All 50 states
Build a policy online or with local agent support, with features like better car replacement and accident forgiveness.
Clearcover
Optional
No
AZ, CA, IL, UT
Find basic coverage and low rates through its easy online or app-based experience.
Gabi
Optional
Optional
55%
All 50 states
Upload your current bill and get 20+ quotes from top brands for the same level of coverage.
Root
52%
AZ, AR, CA, CO, CT, DE, GA, IL, IN, IA, KY, LA, MD, MS, MT, MO, NE, NM, ND, NV, OH, OK, OR, PA, SC, TN, TX, UT, VA
Safe, low-mileage drivers could save up to 52% by tracking their driving in the app.

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How to compare car insurance for a Tesla

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.

Most major insurers will cover your Tesla. However, prices may vary widely. Compare multiple providers to find the best price.

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

Why are Teslas so expensive to insure?

Teslas are pricey electric cars and therefore to repair after an accident. Tesla owners also typically choose higher maximum policies to protect the entire cost of the car in an accident.

Pros and cons of insuring a Tesla

Pros

  • Low theft rates
  • Great safety ratings

Cons

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

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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 aimed at the mass market.

Where can I charge my Tesla on the road?

A standard Tesla Model 3 can take you up to 215 miles on a charge, but that’s not enough on a long distance road trip. Tesla offers two ways to charge your Tesla when you’re on the go: Destination Charging stations and Supercharger stations. Tesla’s installed over 12,000 Superchargers across the US, Europe and Asia where you can charge your Tesla up to 80% in about 30 minutes.

What’s Tesla home charging installation services?

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

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.
  • Tesla offers a special program for insuring your Tesla with Liberty Mutual called InsureMyTesla. Tesla drivers enjoy special rates, perks and coverage designed for Teslas.

Tesla competitors

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

Compare all car makes

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.

Frequently asked questions about Tesla

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