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Tesla Model S insurance rates

Average Model S insurance cost? $306. But electric doesn’t need to mean top rates if you shop around.

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The average cost of car insurance for a 2021 Tesla Model S is $306.22 a month — or $3,674.64 a year. However, your actual costs depend on your driving history, car model, location and other factors.

We pulled Tesla Model S car insurance quotes from top insurance companies to find that the average monthly cost to insure a 2021 Tesla Model S is $306.22. However, an older model may score you lower rates.

Model YearProgressiveGeicoState FarmFarmersAverage
2012 Tesla Model S$145.75$178.80$207.11$336.05$216.93
2016 Tesla Model S$170.75$229.37$293.62$349.40$260.79
2021 Tesla Model S$203.76$275.97$371.38$373.77$306.22

How we got these rates

Our rates are based on a single 30-year old driver with a clean driving history living in California. California is one of seven states that don’t use gender to determine car insurance costs. We chose full coverage car insurance with liability limits that exceed the California state minimum requirements, which include:

  • Bodily injury liability per person: $50,000
  • Bodily injury liability per accident: $100,000
  • Property damage liability: $50,000
  • Comprehensive deductible: $500
  • Collision deductible: $500
  • Medical payments: $5,000
  • Uninsured motorist bodily injury: $50,000/$100,000

Your rates may be different based on details such as your zip, location, job type, annual mileage and more.

Name Product Gap insurance Homeowner discount Telematics Has an app? Available states
Allstate
Yes
Yes
Drivewise
Yes
All 50 states
Your dedicated agent can help you find the best savings with multiple discounts and rewards programs.
Progressive
loan/lease coverage
Yes
Snapshot
Yes
All 50 states & DC
Discover coverage that’s broader than competitors, valuable discounts up to 30% off and perks like shrinking deductibles that reward no claims.
Pretected
Yes
Depends on provider
No
No
All 50 states
Get your most compatible insurance options via a "smart matching" method aimed at finding you value.
The AARP Auto Insurance Program from the Hartford
Yes
Yes
TrueLane®
No
All 50 states
Enjoy low rates for mature drivers, plus perks like new car replacement and lifetime repair guarantees. Only for drivers over age 50.
Root
No
Yes
Telematics only
Yes
Available in 31 states
Track your driving to receive a low rate that reflects your driving skills, and enjoy a fully app-based policy experience.
Assurance
Yes
Yes
No
Yes
All states except AK & HI
This broker shines with over 600 positive customer reviews, more top ratings than any broker we've compared.
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Why is insurance so expensive for the Tesla Model S?

The Tesla Model S costs more to insure simply because it’s considered a luxury vehicle with a higher than average MSRP. Expensive cars mean expensive repairs in the case of an accident.

How reliable is the Tesla Model S?

The Tesla Model S has been around since 2012 and is an all electric car. The large luxury car is known for its longest range for any EV model, large cargo room and world class performance. In 2013, the Tesla Model S won the World Green Car of the Year award.

The National Highway Traffic Safety Administration (NHTSA) only rated the rollover crash test, which received the highest possible safety rating. The Insurance Institute for Highway Safety (IIHS) rated the small overlap front test as acceptable, an average rating. All other crash tests performed by the IIHS received a good safety rating, the highest possible rating.

The Tesla Model S model includes lane departure warning, enhanced autopilot system and automatic emergency braking.

About this car

Originally launched in 2012, the Model S was Tesla’s first all-electric sedan on the market. Both practical and luxurious, there are two model series with different highlights. The Model S Long Range boasts the longest mile range on the market at an estimated 405 miles, while the Model S Plaid version packs in 1,020 horsepower backed by a trimotor powertrain and reaches speeds of 0 to 60 mph in 1.99 seconds.

Each model offers ample cargo space with a large rear trunk plus a front secondary trunk, and seats up to four passengers. Range, speed and storage aside, buyers are further drawn to the Model S for its adaptive cruise control and partial self-driving capabilities.

However, the Autopilot and Full Self-Driving Capability features require an attentive driver who has their hands on the wheel at all times as of November 2021. This means it will take some time for the automaker to develop and refine the vehicle’s fully automated driving ability.

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