Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Tesla Model S insurance rates

Average Tesla Model S insurance rates

Updated

Fact checked
Red Tesla Model S

Compare car insurance quotes

Enter your ZIP code below and click Compare to see the cheapest rates in your area.

The Tesla Model S sees an average premium at $227 a month or $2,724 a year, about twice the national average of $1,300 per year. With a $68,000 MSRP, the annual insurance cost–to–base car price ratio is 4%, right at the national average. That makes the Model S expensive to insure compared to other cars, but relatively cheap for a luxury model.

Our top pick: Progressive

Discover coverage that’s broader than competitors, valuable discounts up to 30% off and perks like shrinking deductibles that reward no claims.

  • Broad coverage, including for custom car parts or ridesharing
  • Transparent pricing tools that help you buy within budget
  • Accident forgiveness on small claims or for staying claim-free
  • Stack a variety of discounts for multiple cars, autopay or homeownership

Compare insurance for your Tesla Model S

Name Product Roadside assistance New car protection Accident forgiveness Safe driver discount Available states
Progressive
Optional
30%
All 50 states
Discover coverage that’s broader than competitors, valuable discounts up to 30% off and perks like shrinking deductibles that reward no claims.
USAA
Optional
Yes
All 50 states
Affordable car insurance with highly rated customer service. Only available to military members and veterans and their family.
Allstate
13%
All 50 states
Your dedicated agent can help you find the best savings with multiple discounts and rewards programs.
The AARP Auto Insurance Program from The Hartford
Optional
Yes
All 50 states & DC
Drivers over age 50 can enjoy low rates and perks designed for mature drivers, plus freebies and AARP member perks like free replacement cost coverage.
Liberty Mutual
Optional
30%
All 50 states
Earn free accident forgiveness after five years claims-free and customize your policy anytime online at the tap of a button.
Esurance
40%
All states except AK, DE, HI, MT, NH, VT, WY
Take advantage of this online company's low base rates and mobile tools like app-based telematics and teen safe driver programs.
loading

Compare up to 4 providers

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.

Car insurance rates for Tesla Model S by year

Year Progressive Geico State Farm Average
2012 $205 $160 $242 $202
2013 $204 $160 $285 $216
2014 $203 $160 $301 $221
2015 $369 $402 $328 $366
2016 $384 $418 $309 $370
2017 $458 $428 $310 $399
2018 $467 $449 $362 $426
2019 $483 $470 $373 $442

Tesla Model S money-saving safety features

You could save money on car insurance for your Tesla Model S if it comes equipped with these safety features.

  • Anti-lock brakes
  • Stability control
  • Airbags
  • Seatbelt pretensioners
  • Anti theft system

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.

Get the cheapest quotes

Compare car insurance companies near you.

Your information is secure.

More guides on Finder

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site