Best Car Insurance for Tesla 2022

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Car Insurance for Tesla

On average, Tesla drivers pay $2,111 each year for car insurance. But depending on the model you have, your insurance rates could vary. A {thirdPopularModel} costs $2,211 less more per year to insure than a Model S 85.
Founded in 2003, Tesla is a luxury vehicle manufacturer that focuses on electric vehicles and sustainable energy products. Their models are loved for their high-performance, long-lasting battery, and fully self-driving capabilities. Tesla has increased in popularity in recent years, becoming the third highest-selling luxury car brand in the United States in 2021.
If opting to purchase a Tesla, you’ll want to make sure you have the right car insurance to keep your ride protected.
Your demographics and the specific model you choose will end up influencing your insurance rates. If you’d rather leave the hard work of gathering quotes to someone else, use Jerry. The Jerry app can collect quotes from 50+ top insurance companies in seconds! They even help cancel your old policy once you’ve made your pick.
Here are some real quotes from Jerry customers who saved money when insuring their Tesla.
Quote DateCarLocationZip CodeNameAgeCarrier
Before Jerry
After Jerry
May 5, 2022Tesla Model 3Nolensville, TN37135Duane S.33Travelers$258/mo.$93/mo.
May 4, 2022Tesla Model 3Long-Branch, NJ07740Lewis U.29Plymouth Rock$170/mo.$138/mo.
April 26, 2022Tesla Model SGriffin, GA30223Mason N.47Mercury$213/mo.$186/mo.
April 29, 2022Tesla Model YCupertino, CA95014Jim W.30Safeco$240/mo.$201/mo.
May 16, 2022Tesla Model 3North Charleston, SC29418Ray W.31Travelers$245/mo.$215/mo.
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Insurance for Tesla models

Though they may share the same name brand, insurance premiums for Tesla vehicles can vary greatly depending on the age and model of the car.

Insurance for Tesla based on the year of the car

Thanks to depreciation, older Teslas are typically cheaper to insure than newer ones.
According to Edmunds, a new car loses 23.5% of its value in the first year and 60% of its value in the first five years. And the less your car is worth, the less it costs to repair or replace if you need to make a claim. This usually translates to insurance savings.
Drivers with newer cars also tend to lease or finance their vehicles and therefore must have full-coverage insurance. You’ll always pay more for full coverage than for the mandatory minimum insurance required by your state.
According to Jerry’s internal data, the cheapest years for Teslas are 2012 and 2015.
The most expensive years for Teslas are 2016 and 2017.
Year
Average Cost
Annual Savings with Jerry
2022$2,984$899Compare Prices
2021$3,303$883Compare Prices
2020$3,267$1,050Compare Prices
2019$3,196$813Compare Prices
2018$3,316$867Compare Prices
2017$3,509$911Compare Prices
2016$4,466$1,485Compare Prices
2015$3,188$1,118Compare Prices
2014$3,504$1,092Compare Prices
2013$3,598$1,251Compare Prices
2012$2,520$678Compare Prices
Key Takeaway Older Teslas are typically more affordable to insure than newer ones since the repair and replacement costs are less and you may not be required to purchase full-coverage insurance.
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Insurance for different models of Tesla

As a luxury car brand, Teslas will be generally more expensive to insure due to the high cost of replacement parts and repairs. But rates can vary even between different Tesla models.
Smaller sedans and compact SUVs will be cheaper to insure than large SUVs or pickups. This is due to the generally lower prices, higher safety ratings, and less expensive repair costs for sedans and compact SUVs.
For example, as one of Tesla’s largest models, the Model X, will be pricier to insure due to its increased size and premium features.
Conversely, a Model 3 will be one of the less expensive Tesla models to insure. While it’s still a luxury vehicle, the Model 3 is smaller in size and starts at a cheaper price point, meaning insurance rates should be lower.
If you want to learn more about car insurance costs for some of the most popular Tesla models, check out the links below.
Key Takeaway Insurance costs vary depending on the model you have. The more expensive the model, the more you’ll probably pay for your insurance coverage.
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Full coverage vs. minimum coverage for your Tesla

The amount it will cost you to insure your Tesla depends on the coverage you select. The majority of states have minimum coverage requirements that you must meet to legally drive your car on the road.
Minimum coverages typically include:
Coverage typeProtection offered
Bodily injury liability (per person and accident)Pays for the costs associated with the injuries you’ve caused to others
Property damage liability (per accident)Pays for the costs associated with the damage you cause to other people’s vehicles or property
Uninsured or underinsured motorist protection is also required in some states to cover damages if you’re in an accident with an uninsured or underinsured driver.
You may also be required to purchase personal injury protection (PIP), which pays for your medical expenses—this is especially helpful if you live in a no-fault state.
These are not recommendations, they’re legal requirements. But if you can afford to purchase more coverage for your Tesla, it’s generally a good idea.
Even a relatively minor accident can result in thousands of dollars of damage and medical bills—and if you’re at fault but don’t have sufficient insurance, you’ll have to pay them out of pocket.
If you’re leasing or financing a Tesla, you’ll likely need to carry full-coverage insurance. You should also consider full-coverage insurance if you can’t afford to replace your car in the event of a total loss.
Full-coverage insurance typically includes:
Coverage typeProtection offered
Collision coverageCovers the costs associated with collisions with another vehicle or object
Comprehensive coverageCovers costs of damages from an event other than a collision, like a weather event, theft, or vandalism.
The average annual insurance premium for a Tesla is $1,505 per year for minimum car insurance and $3,059 for full-coverage insurance. When you consider all makes and models, the average insurance premium in the US is $1,626 per year for minimum car insurance and $2,298for full-coverage insurance.
Here’s what it costs to insure a Tesla with minimum coverage and full coverage before and after switching with Jerry.
All Coverage Before Jerry
All Coverage After Jerry
Minimum Coverage Before Jerry
Minimum Coverage After Jerry
Full Coverage Before Jerry
Full Coverage After Jerry
Tesla$2,891$2,073$2,210$1,450$2,599$2,164
Tesla
All Coverage Before Jerry
$2,891
All Coverage After Jerry
$2,073
Minimum Coverage Before Jerry
$2,210
Minimum Coverage After Jerry
$1,450
Full Coverage Before Jerry
$2,599
Full Coverage After Jerry
$2,164
Tesla is a luxury brand, making it more expensive to insure compared to other more affordable electric vehicles on the market.
Compared to similar luxury brands—like BMW and Lexus—insurance premiums for Teslas tend to be above average.
If you’re comparing the prices of insurance for similar cars, here are the insurance costs for other brands:
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What impacts your insurance costs for Tesla

The age and model of your car, as well as the type of insurance you purchase, will end up impacting your premiums. Insurers will also look at your driving history and personal demographics to determine rates.

The model of Tesla you drive

Tesla has several different models, and your insurance costs will vary depending on which one you own. This is because the repair and replacement costs vary across the vehicle lineup.
Generally speaking, the more expensive the car is, the more it will cost insurers to pay out for a claim—and the more you can expect to pay for your insurance coverage.
Most models offer different trim levels that feature additions and upgrades. The higher the trim, the pricier the insurance premium will generally be.
For example, here’s what insurance you might want to consider for a Model S.
TrimFeaturesRecommended coverageReason for coverage
[Model S Long Range]https://getjerry.com/car-insurance/tesla-model-s-insurance-costStandard features include 405 miles of EV range, all-wheel-drive, 17-inch touchscreen infotainment system, and more.Roadside assistanceThis coverage pays for towing and labor expenses if your Model S ever breaks down or requires assistance.
Model S PlaidThe top-of-the-line trim achieves maximum performance thanks to an upgraded battery system and additional motor.New car replacement insuranceIf your new car is totaled soon after purchasing, this coverage makes you entitled to the full purchase price of the car rather than its actual cash value.

Your insurance company

Since different carriers can offer different rates for the same driver and coverage level, comparing quotes is the only way to make sure you’re landing the best policy.
And ‘best’ doesn’t always mean cheapest. Sure, a deal is always a good thing—but what good is a cheap auto policy if it doesn’t offer the coverage you need in the event of an incident?
The most effective and efficient way to make sure you’re getting the best coverage for the best price is to compare quotes from different providers. The easiest way to do that is by using the comparison shopping and broker app Jerry.
In under a minute, you’ll be able to view multiple competitive quotes from more than 50 of the top auto insurance providers in the country.
When you find a plan you like, Jerry handles all the paperwork and phone calls to set up your new policy and cancel your old one.
And since Jerry reviews your coverage every 6 months, you can be sure that you’re always getting the coverage you need at the best price. Here’s what Tesla drivers paid for car insurance before and after switching with Jerry:
Insurance Company
Average Cost
Annual Savings with Jerry
Dairyland$4,005$1,326Compare Prices
Safeco$3,819$1,204Compare Prices
Nationwide$2,966$1,005Compare Prices
Allstate$3,119$917Compare Prices
Travelers$2,970$911Compare Prices
Progressive$3,227$858Compare Prices
State Auto$3,121$766Compare Prices
Kemper$2,052$612Compare Prices
National General$2,905$585Compare Prices
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Your age

The age and level of experience a driver has will end up impacting their insurance premiums.
Older drivers with more experience tend to pay less for coverage, as they are less likely to be involved in an accident or have dangerous driving habits. Insurers will raise premiums based on the likelihood younger drivers will need to make claims more often.

Your driving record

Your driving history and record can also be a major factor in determining your car insurance rates.
Drivers with a history of infractions and offenses are considered high-risk drivers. Having a multitude of offenses or a major violation such as a DUI can cause your premiums to skyrocket.
But there’s good news! If you improve your driving habits and maintain a clean record moving forward, you’re likely to see your premiums drop.
Here are some common insurance premiums for Tesla drivers with previous infractions:
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Where you live

Location is one of the key factors that insurance companies use when determining your premium, and rates for Teslas can vary from city to city—even within the same state! This is because each area has different accident rates, crime rates, and even incidences of natural disasters.
It’s all about the risk for your insurer. If your city has a high rate of car thefts or collisions, you can expect to pay more for your coverage.
This also applies to the amount of severe weather your area may see—if your city is prone to hail storms, blizzards, or hurricanes, your provider will likely raise premiums to accommodate for the higher amount of claims being made.
According to our data, there is a high percentage of Tesla drivers in cities including Atlanta (GA), Miami (FL), Houston (TX), Austin (TX) and Alexandria (VA).
The cheapest car insurance for Tesla for Jerry users is in Cypress (TX) and Milwaukee (WI).
The most expensive car insurance for Tesla for Jerry users is in Boca Raton (FL) and Boca-Raton (FL).
City
Average Cost
Annual Savings with Jerry
Alexandria$2,562$446Compare Prices
Atlanta$3,812$1,250Compare Prices
Austin$2,477$323Compare Prices
Dayton
$4,800$1,167Compare Prices
El Paso$2,963$317Compare Prices
El-Paso$2,963$317Compare Prices
Herndon$2,904$797Compare Prices
Houston$3,006$822Compare Prices
Miami$2,493$494Compare Prices
Minneapolis$3,943$784Compare Prices
No matter your personal driving history, where you live, or the Tesla model you drive, it’s possible to find cheap car insurance rates by comparison shopping with Jerry.
It’s this simple: download the Jerry app, answer a few questions, and in less than 45 seconds, Jerry collects all of your information from your existing insurer. They take care of the rest, securing your new policy and canceling your old one.
No long forms, no calling around, no hard work. Just savings.

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