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The average cost of Tesla car insurance is $4,065 per year. But the exact cost of Tesla insurance varies based on your model, driving record, and location—and your insurance company.
Whether you have a Tesla Model Y or a Tesla Model 3, you’re going to need to shop around to find the best Tesla car insurance policy. Providers determine your insurance premiums based on your driving record, coverage needs, location, and more—and all of them determine your rates a bit differently. But how do you know you’re getting the best Tesla insurance rates?
With the Jerry app, you won’t have to worry about overpaying on your insurance coverage. Jerry is a licensed broker and all-around super app for car owners that can connect you with affordable car insurance in no time!
Let’s get into the details of Tesla’s car insurance costs, from what factors will affect your rates to some tips on how to optimize your car insurance for less!
How much does Tesla car insurance cost?
The average annual cost of car insurance coverage for a Tesla vehicle is $2,124. But that amount doesn’t take your specific details into account—remember that your Tesla model, driving history, and location all come into play when insurance companies are calculating insurance premiums.
Here are some additional factors that can affect car insurance costs for your Tesla:
- Teslas are considered luxury vehicles. High-end materials and luxury features are more expensive to replace.
- Specialized electric parts can drive up your Tesla insurance costs, as they may be more expensive to source and replace.
- Teslas have high safety scores which can help stabilize your insurance rate.
- Some models have aluminum body types, which are more expensive to replace in the case of an accident.
With so many factors affecting your car insurance rates as a Tesla owner, you can expect a fair amount of variation when it comes to the cost of your car insurance. If your Tesla racks up above-average mileage, you’ll likely have to pay more in terms of maintenance and repair coverage. On the other hand, the more safety features you have, the lower your Tesla insurance costs will be.
To get an exact idea of what your monthly insurance payments will look like for your Tesla, you’ll have to compare quotes from multiple providers. With Jerry, you could browse personalized quotes from over 55 insurance companies in under a minute! Jerry takes all the factors affecting your Tesla rates into account and only provides you with rates that fit your needs.
How much insurance do you need for a Tesla?
Whether you live in California or Texas or anywhere in between, you must fulfill your state’s minimum required car insurance—typically including liability coverage (both bodily injury liability and property damage liability), which covers other drivers in the case of an accident.
Some states also require you to purchase the following coverage before you get behind the wheel:
- Uninsured/underinsured motorist coverage: If you’re in an accident with a driver who doesn’t have sufficient liability insurance, you won’t have to pay out-of-pocket for your medical expenses.
- Personal injury protection (PIP): Covers medical expenses, rehabilitation, and funeral costs for you and your passengers. This coverage is required if you’re driving inno-fault states.
- Medical payments (MedPay) coverage: This pays for some medical costs.
Locking in your state’s minimum requirements is all that’s legally required—but if you want to protect your Tesla in the case of an accident, you’re going to need additional coverage.
Since Tesla’s are more expensive cars, you want to make sure you’re not going to get slammed with a huge repair bill if you’re in an accident. Full-coverage car insurance is a solid policy choice if you want to protect your Tesla—and your wallet—from damage caused by collisions, severe weather, theft, and more.
Full coverage insurance includes:
- Collision coverage: Covers damage caused by an accident or collision with other vehicles or stationary objects.
- Comprehensive coverage: Covers non-collision-related damage caused by weather, wildlife, vandalism, and more.
In some cases, full-coverage insurance may be required by your financier. Other policies like gap insurance may also be required to fulfill your loan terms.
What kind of rates can Jerry find for your Tesla? The table below features a few examples along with feedback from real Jerry customers!
| Quote Date | Car | Before Jerry | After Jerry | Location | Zip Code | Name | Age | Insurance Company |
|---|---|---|---|---|---|---|---|---|
| November 30, 2022 | Tesla Model S | $465/mo. | $356/mo. | Waldorf, MD | 20602 | Aiden W. | 37 | National General |
| November 16, 2022 | Tesla Model 3 | $594/mo. | $322/mo. | Federal Way, WA | 98023 | Bill T. | 27 | Dairyland |
| October 4, 2022 | Tesla Model Y | $225/mo. | $157/mo. | Kansas City, MO | 64112 | Francis W. | 32 | Progressive |
| February 10, 2022 | Tesla Model 3 | $300/mo. | $261/mo. | Marietta, GA | 30064 | Wesley P. | 34 | Mercury |
| January 25, 2022 | Tesla Model 3 | $335/mo. | $217/mo. | Bakersfield, CA | 93314 | Dennis G. | 29 | Clearcover |
Tesla car insurance rates by model
The model of Tesla you own plays a huge part in determining your car insurance premium. The Model Y tends to be on the lower side of the spectrum, while the Model S is way up there in terms of insurance costs. Everything from body size and interior materials to engine type influences this disparity between model insurance rates.
To get a better idea of how your car type can affect your premiums, let’s consider the average annual premiums for each Tesla model.
How much does Tesla Model Y insurance cost?
The Model Y is one of the few EV SUVs out there that offers a third row of seating. The all-digital control panel and less-reliable build may be turn-offs for some, but with a 330-mile range, some things can be forgiven. Plus, the Model Y comes standard with Tesla’s semi-autonomous Autopilot driving system, and those extra safety features could keep your insurance rates manageable.
By using the table below, you can get a better idea of how average premiums for Model Y drivers can vary depending on coverage options and vehicle age.
| Car | Full Coverage | Minimum Coverage |
|---|---|---|
| 2021 Tesla Model Y | $2,145 | $1,754 |
| 2020 Tesla Model Y | $3,268 | $2,040 |
| 2018 Tesla Model Y | $3,440 | $1,417 |
| 2016 Tesla Model Y | $4,212 | $1,327 |
To get even more information, check out Jerry’s guide to Tesla Model Y insurance costs.
How much does Tesla Model 3 insurance cost?
For a more affordable Tesla, look no further than the Model 3—this EV sedan is fun to drive and can last up to 358 miles per charge. You have a choice between the base rear-wheel-drive trim, the Long Range trim, or the Performance trim, but be aware that upgrading to a higher level will also push up your insurance costs.
The table below breaks down the average coverage rates for the Model 3.
| Car | Full Coverage | Minimum Coverage |
|---|---|---|
| 2021 Tesla Model 3 | $2,145 | $1,754 |
| 2020 Tesla Model 3 | $3,268 | $2,040 |
| 2018 Tesla Model 3 | $3,440 | $1,417 |
| 2016 Tesla Model 3 | $4,212 | $1,327 |
Interested in what else can affect your Model 3 premiums? Take a look at the Jerry guide to Tesla Model 3 insurance costs!
How much does Tesla Model X insurance cost?
Tesla’s Model X is an EV SUV with an ultra-high-tech interior and a third row of seating. All-wheel drive and 670 horsepower plus a 351-mile driving range add up to make a powerful vehicle that can handle some serious distance. Although the yoke-style steering wheel can take some getting used to, the Summon feature and semi-autonomous driving mode add an extra level of safety that will skim a little bit off the top of your insurance costs.
You can see how the average insurance costs stack up in the table below.
| Car | Full Coverage | Minimum Coverage |
|---|---|---|
| 2021 Tesla Model X | $2,145 | $1,754 |
| 2020 Tesla Model X | $3,268 | $2,040 |
| 2018 Tesla Model X | $3,440 | $1,417 |
| 2016 Tesla Model X | $4,212 | $1,327 |
Want to know more? Jerry has an in-depth guide to Tesla Model X insurance costs!
How much does Tesla Model S insurance cost?
The top of the Tesla line in terms of style—and insurance costs—is the speedy Model S. With a stunning 412 miles of range, the Model S adds some practicality with extra cargo space in the front truck. The 1020-hp Plaid trim is alluring, but with a six-figure price tag, your insurance costs are likely going to be through the roof with an EV this fancy!
The table below provides the average insurance costs for a Model S.
| Car | Full Coverage | Minimum Coverage |
|---|---|---|
| 2021 Tesla Model S | $2,145 | $1,754 |
| 2020 Tesla Model S | $3,268 | $2,040 |
| 2018 Tesla Model S | $3,440 | $1,417 |
| 2016 Tesla Model S | $4,212 | $1,327 |
Check out this guide from Jerry to go deeper into what contributes to Model S insurance costs.
MORE: Car loans for Tesla 2022
Compare Tesla car insurance quotes
Electric vehicles may be the way of the future, but what does the future of car insurance hold? With the Jerry app, the future is now!
It only takes 45 seconds for Jerry to compile personalized quotes from over 55 top-rated companies. All you have to do is download the app, answer a couple of questions, and let Jerry do all the hard work for you! And because Jerry is a licensed broker, you can depend on the app’s team of experts to find you the best car insurance for your Tesla.
Shopping around is essential if you want to find car insurance that fits your needs—Jerry makes comparing quotes quick, easy, and hassle-free!
Best car insurance companies for your Tesla
Companies like USAA, Nationwide, Progressive, and Travelers are generally great picks for Tesla owners—but there isn’t just one company that provides the best Tesla insurance.
Even going through InsureMyTesla isn’t guaranteed to get you the best rate. Remember that every insurance company has its own method for calculating your insurance prices. For example, one provider may prioritize the model’s safety score, while another may reward your clean driving record with a discount.
To make sure you’re not overpaying for insurance, you’re going to have to compare rates. Jerry can take the hassle out of comparison shopping by gathering quotes for you—all of them tailored to you and readily accessible through the app!
Here’s how different providers compare in general—and examples of how much you could save when you use Jerry!
| Insurance Company | Average Cost | Annual Savings with Jerry | |
|---|---|---|---|
| Dairyland | $3,776 | $1,473 | |
| Safeco | $3,516 | $1,123 | |
| Nationwide | $3,170 | $1,072 | |
| Progressive | $3,584 | $1,015 | |
| Clearcover | $3,523 | $994 | |
| Travelers | $3,042 | $939 | |
| National General | $3,553 | $911 | |
| Allstate | $3,390 | $781 | |
| State Auto | $3,361 | $775 | |
| Kemper | $2,179 | $582 | |
| Compare Prices | |||
Tesla auto insurance cost by driving record
A major factor that impacts your Tesla insurance rates is your driving record. A safe driver generally pays less for insurance!
To keep your rates steady, avoid traffic infractions and stay safe on the road. Minor violations can add up over time and lead to higher insurance costs, while major violations can instantly jack up your premiums. For example, Tesla owners with a DUI conviction can expect to pay $4,065 more for car insurance per year, while one speeding ticket can add an average of $4,065to your annual premium!
To see how much you could save by cleaning up your driving record, take a look at the table below outlining how different violations impact your Tesla insurance.
Tesla car insurance cost by location
Last, but certainly not least, is your location. Depending on your zip code, you could be looking at higher or lower insurance rates. The state, city, and even neighborhood you live in, where you usually drive, and how safe your parking spot is can all affect your insurance rates.
Whether you live in Colorado, Arizona, Illinois, or Virginia, you’ll have to deal with state insurance rates.
The table below can give you an idea of how the state you live in can affect your Tesla insurance costs.
| City | Average Cost | Annual Savings with Jerry | |
|---|---|---|---|
| Atlanta | $3,983 | $1,304 | |
| El Paso | $2,963 | $317 | |
| Houston | $2,979 | $824 | |
| Kirkland | $3,296 | $1,192 | |
| Los Angeles | $3,728 | $990 | |
| Miami | $3,403 | $765 | |
| Minneapolis | $3,900 | $1,016 | |
| North Charleston | $2,940 | $284 | |
| Seattle | $3,171 | $554 | |
| Tampa | $2,690 | $417 | |
| Compare Prices | |||
By R.E. Fulton
Reviewed by Kathleen Flear, Director of Content.
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