Tesla Model S insurance group
Compare car insurance costs for your Tesla Model S based on your age and location.
The Tesla Model S sedan was arguably one of the first vehicles to prove that electric cars can offer fantastic performance, as well as being eco-friendly. This vehicle is characterised by great handling, zippy acceleration and luxury interiors. Its driving range of up to 400 miles is impressive too. However, this car is expensive to insure. In this guide, you’ll find out how much the Tesla Model S costs to insure based on the age and location of the driver.
What insurance group does the Tesla Model S fall under?
Every vehicle on the road is assigned a specific insurance group that ranges from 1 (cheapest) to 50 (most expensive) which helps determine the cost of your premium. The Tesla Model S belongs to insurance group 50, so it’s among the most expensive vehicles to insure.
Tesla Model S insurance cost by location
There are a range of other factors that affect the cost of your car insurance premium, not just the insurance group.
To show the impact of your home address, here are some average quotes for a 30-year-old living in three different locations. The quotes are for a Tesla Model S 60kWh 5d.
- Expensive: £1,302 (London SE1)
- Average: £1,219 (Newcastle NE1)
- Cheap: £911 (Galashiels TD1)
Which factors affect my Tesla Model S insurance rate?
Along with insurance group, there are a number of key factors that have the biggest impact on your insurance premium costs:
- Engine type and capacity. In general, the larger the engine, the more you’ll pay for your car insurance. However, as the Tesla Model S only has one engine size, there is no point of comparison with this vehicle.
- Driver location. Insurers use your home address to determine the level of risk that your car may be stolen or involved in an accident, and this affects the cost of insurance. For example, a 30-year-old in central London may pay £1,302 for insurance for a Tesla Model S 85kWh 5d, while the same 30-year-old in Newcastle may only pay £1,219. In this example, the Londoner would pay an extra £83 per year to insure the same vehicle.
- Driver age. The youngest drivers pay far more for car insurance because they are the most likely to make a claim on their policy. As an example, the average 20-year-old driver in London may pay £2,264 for the Tesla Model S 85kWh Performance 5d, while the average 40-year-old Londoner will only pay £1,282. So, in this example, the younger driver would pay an extra £982 per year to insure this vehicle.
Other factors that influence the cost of your insurance include:
- The model and trim of your car
- Your car’s age
- Your car’s safety rating
- Your car’s security features and anti-theft precautions
- Your car usage
- Your driving history and activity, including your no-claim discount
- Your marital status
- Your credit history
- Your occupation
How can I save on my Tesla Model S premium?
Car insurance can be expensive, but there are plenty of things you can do to prevent it breaking the bank. Here are some ideas to lower the cost of your premium.
- Limit your annual mileage (where possible). A lower annual mileage means less risk of getting into an accident on the road. So, insurers will lower your premium if you can use your car less. If possible, consider occasionally walking or taking public transport to lower your annual mileage.
- Pay annually rather than monthly. Some insurers charge interest when you pay your premiums monthly. So, pay annually to eliminate the possibility of these extra costs.
- Install extra safety precautions. By adding extra safety measures, you lower your risk of making a claim. That’s why many insurers are happy to lower your premium when you do so.
- Shop around for the best deal using price comparison websites. Don’t just settle for the renewal price given to you when it’s time to renew – there may be cheaper options out there.
The Tesla Model S combines environmental devotion with an enjoyable drive. However, at this time, a key problem with owning this car is sky-high insurance costs. Thankfully, the tips in this guide can help you reduce your insurance premiums.
Frequently asked questions
More guides on Finder
How to renew your car insurance
We explain how car insurance renewal works, and how to keep your annual renewal premiums as low as possible.
Compulsory vs voluntary excess
We explain the different types of car insurance excess, and how adjusting your voluntary excess can affect your premium.
Cat S insurance
Learn how to find insurance for your Cat S write-off, average cost and whether you can keep your category S car.
Finder Insurance Customer Satisfaction Awards 2020
Looking for insurance or thinking of changing providers? Here’s what customers had to say about some of the UK’s top insurers.
How to save by adding kids to parent’s car insurance
Learn more about how parents’ can save their children money on car insurance by putting them as a named driver.
International car insurance
Our guide to international car insurance. Find out how to get covered and what documents you’ll need for your trip.
UK car insurance statistics: Average cost and number of claims
We unpack all the latest UK car insurance statistics, including the average cost and the number of claims made per year.
Car insurance exclusions
Find out what car insurance won’t cover so you can avoid any nasty surprises at claim time.
High-risk car insurance
Find out how to get car insurance as a high-risk driver and what options are available. Steps to reduce your premium as a high-risk driver.
Get agreed value car insurance quotes online
Find out how agreed value car insurance works and if it’s the right option for you.