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Best Car Insurance for Tesla 2021
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- Cost with Jerry
- Best Insurance Companies
- Insurance Cost
- Cost by Car Model
- Cost by Car Year
- Cost by City
On average, it costs Tesla drivers $1,865 to insure their car each year. But that price can vary significantly depending on the model—a Model S costs $2,583 less more per year to insure than a Model 3.
Here’s what drivers pay when they switch with Jerry
Here are some real quotes from Jerry customers who saved money when insuring their Tesla.
| Quote Date | Make/model | City, State | Age | Carrier | Coverage Type | Before Jerry | After Jerry |
|---|---|---|---|---|---|---|---|
| May 28, 2021 | Tesla Model 3 | Houston, TX | 33 | Bristol West | Custom | $137/mo. | $81/mo. |
| June 30, 2021 | Tesla Model 3 | Alpharetta, GA | 33 | Allstate | Predicted | $246/mo. | $144/mo. |
| June 6, 2021 | Tesla Model 3 | San Jose, CA | 33 | Nationwide | Current | $212/mo. | $172/mo. |
| April 29, 2021 | Tesla Model 3 | Palmdale, CA | 34 | Travelers | Custom | $286/mo. | $193/mo. |
| August 8, 2021 | Tesla Model 3 | El Paso, TX | 32 | ClearCover | Predicted | $250/mo. | $202/mo. |
Best insurance carriers for your Tesla
Pricing and Reviews
While all insurance companies weigh factors like your personal profile, driving history, and where you live, they each do it a little differently. This means that premiums can vary pretty significantly between carriers.
The cheapest insurer for Tesla vehicles is Kemper, with an annual premium of $1,376.
Other popular carriers for Tesla vehicles include the following:
Nationwide
Nationwide can be a great choice for safe drivers and those who are technologically inclined. They boast a robust online platform with a mobile app and a website. Jerry rates Nationwide a 4.6/5.
Progressive
Progressive is known for its financial strength, diversity of coverage options, and multiple discounts and features. It can be a good choice for drivers who are higher risk or tech-savvy. As a large, reputable carrier, it gets a solid 4.6/5 rating from Jerry.
Kemper
Kemper is best known for providing coverage to high-risk drivers who might struggle to find insurance elsewhere. It offers to file SR22 forms for drivers who need to provide proof of coverage to the state, and it even sells insurance for salvage-title cars that were rebuilt after being totaled. Jerry rates Kemper a 4.3/5.
Safeco
Safeco is known for offering affordable premiums, especially to younger drivers. It also offers a claims-free cashback program, which will give you a small refund for every six months that you stay claims-free. With these kinds of perks, Safeco gets a 4.5/5 rating from Jerry.
Allstate
As one of the biggest names in the industry, Allstate has a large network of agents and repair shops. It also offers a variety of digital features, including a rate calculator, a mobile app, online bill payment, and online claim reporting. Jerry rates Allstate a 4.5/5.
Travelers
Travelers offers several attractive add-on packages and discount options. The add-ons include roadside assistance, rental reimbursement, accident forgiveness, new car coverage, and gap coverage, while discount options include savings for being a safe driver and a good student. Jerry rates Travelers a stellar 4.7/5.
State Auto
State Auto may be a good pick for safe, experienced drivers who want to get the most bang for their buck. This carrier offers a full range of car insurance options and drivers can conveniently file claims online. State Auto gets a 4.1/5 rating from Jerry.
National General
National General is a nonstandard carrier that caters to high-risk drivers. In most of the states where it operates, it offers a claims satisfaction guarantee that will waive your deductible up to $250 if you’re unhappy with your claims experience. Jerry gives National General a rating of 4.1/5.
Dairyland
Dairyland is yet another carrier that specializes in auto insurance for high-risk drivers. It offers flexible payment plans and 24/7 live claims support in almost 40 states. These benefits are among the reasons why Jerry rates Dairyland a 4.6/5.
Clearcover
Clearcover stands out for its tech-based business model. Its award-winning app enables you to file claims instantly, pay bills easily, and view proof of insurance—all while keeping communication online. Jerry rates Clearcover a 4.1/5.
How to compare prices to find the most affordable coverage
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. And 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 45 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 drivers were paying before and after using Jerry:
Filters
| Rank | Company name | Avg. Annual Premium |
|---|---|---|
| 1 | Travelers | $2,429.96 |
| 2 | CLEARCOVER | $2,475.72 |
| 3 | Mercury | $2,792.27 |
| 4 | Progressive | $2,805.21 |
| 5 | Nationwide | $2,826.08 |
Key Takeaway Premiums can vary significantly between carriers. Using a comparison shopping app like Jerry can help you easily view quotes from multiple insurance companies to find the best price for the coverage you need.
Cost of insuring a Tesla
Cost of insuring with minimum coverage and full coverage
The average annual insurance premium for a Tesla is $1,019 per year for minimum car insurance and $3,331 for full-coverage insurance. When you consider all makes and models, the average insurance premium in the US is $1,689 per year for minimum car insurance and $2,460 for full-coverage insurance.
The amount it will cost you to insure your Tesla depends on the coverage you select. All states have minimum coverage requirements that you must meet in order to legally drive your car on the road.
Here are the basic types of insurance that your state may require:
| Coverage type | Protection offered |
|---|---|
| Bodily injury liability (per person and per 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 damage you cause to other people’s vehicles or property |
| Uninsured motorist protection (per person and per accident) | Applies when a car accident isn’t your fault but the at-fault driver doesn’t have liability insurance to pay for your injuries or property damage |
| Underinsured motorist protection (per person and per accident) | Applies when the at-fault driver has liability insurance, but it isn’t enough to cover your injuries or property damage |
| Personal injury protection (per person and per accident) | Pays for your own medical expenses after a car accident |
These are not recommendations, they’re legal requirements. But if you can afford to purchase more coverage for your Tesla, then 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 typically refers to policies that include collision insurance and comprehensive insurance, plus the liability insurance that the state requires.
| Coverage type | Protection offered |
|---|---|
| Collision | Applies if you get into a collision with someone else’s vehicle or an object |
| Comprehensive | Applies when your car is damaged by something other than a collision or rollover, like a weather event or vandalism |
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 | $2,638 | $1,892 | $2,413 | $1,006 | $2,464 | $1,919 |
Cost of insuring based on age and driving record
Your age and driving record influence your car insurance premium because they reflect your driving experience and risk of getting into an accident.
Older drivers with more experience tend to pay less for coverage.
Having a traffic violation on your record can also impact your rates. Minor violations like speeding or failure to stop will have less of an effect, while driving under the influence (DUI) and careless driving are far more serious and will result in high premiums.
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’s how accidents and violations can affect car insurance costs for Teslas by age group:
Key Takeaway Your cost to insure a Tesla will vary depending on your insurance needs and factors like your driving record and age. If you can afford it, you should always purchase more than just the minimum required coverage.
Cost of insuring popular models
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.
No matter what model you drive, Jerry can find you big savings for the same coverage that you already have.
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.
Choose from competitive quotes from up to 45 top insurance companies and Jerry takes care of the rest—securing your new policy and canceling your old one. No long forms, no calling around, no hard work. Just savings.
The average Jerry user saves $879 a year on car insurance.
If you want to learn more about car insurance costs for various popular makes, check out the links below.
Read more about your model {carMake}
Key Takeaway Your car model affects your insurance rates. The more expensive the car, the more insurance usually costs.
Cost of insuring your Tesla by year
Most and least expensive years of 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 2014 and 2021.
The most expensive years for Teslas are 2016 and 2015.
| Year | Before Jerry | After Jerry |
|---|---|---|
| 2021 | $2,000 | $1,246 |
| 2020 | $2,268 | $1,261 |
| 2019 | $2,247 | $1,283 |
| 2018 | $2,439 | $1,289 |
| 2017 | $1,960 | $1,077 |
| 2016 | $3,432 | $1,813 |
| 2015 | $3,038 | $1,343 |
| 2014 | $1,654 | $886 |
| 2013 | $2,075 | $1,251 |
Key Takeaway Older Teslas are typically more affordable to insure than newer ones since repair and replacement costs are less and you may not be required to purchase full-coverage insurance.
Cost of insuring a Tesla in your city
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, collisions, or hurricanes, you can expect to pay more for your coverage.
According to our data, there is a high percentage of Tesla drivers in cities including Bridgewater (NJ), Dacula (GA), Brooklyn (NY), Trenton (NJ) and Houston (TX).
The cheapest car insurance for Teslas for Jerry users is in Fullerton (CA) and Evanston (IL).
The most expensive car insurance for Teslas for Jerry users is in Palm Desert (CA) and Goodyear (AZ).
Key Takeaway If you live in an area that has high rates of theft, collisions, or severe weather events, you can expect to pay more for your car insurance.
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