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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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We pulled car insurance quotes from top insurance companies to find that the average monthly cost to insure a Tesla Model S is $306.22 a month — or $3,674.64 a year. However, some older models may cost less to insure than others depending on the safety features your vehicle has and which insurer you choose. And your actual costs depend on your specific details such as driving history, ZIP, age and other factors.

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 doesn’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
Name Product Gap insurance Homeowner discount Telematics Has an app? Available states
USAA
No
Yes
SafePilot
Yes
All 50 states & DC
Affordable car insurance with highly rated customer service. Only available to military members and veterans and their family.
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.
The Zebra
Yes
Yes
Yes
Yes
All 50 states
Smartfinancial
Smartfinancial
Yes
Yes
No
All 50 states and DC
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.
Liberty Mutual
Yes
Yes
RightTrack
Yes
All 50 states & DC
Earn free accident forgiveness after five years claims-free and customize your policy anytime.
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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 is an all-electric car that’s has been around since 2012. The large luxury car is known for its longest range for any EV model, generous cargo space 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. 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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