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Cheapest Tesla Model S Car Insurance (May 2024)

Compare 50+ top insurance companies including Progressive, Travelers, AAA, Nationwide (and more!) to find the best and cheapest car insurance for your Tesla Model S
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Andrea Barrett
Expert Insurance Writer
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Reviewed by Josh Damico, Vice President Insurance Operations
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Edited by Kianna Walpole, Expert Insurance Writer & Editor

How much does Tesla Model S car insurance cost? 

On average, Tesla Model S drivers pay about $79 monthly for state minimum car insurance coverage and about $228 per month for full coverage insurance. Compared to other cars like the
Honda
Insight
,
Hummer
H3
, and
Lincoln
MKZ
, the Tesla Model S is 8% less expensive to insure.
However, it’s important to understand that car insurance rates aren’t fixed, and how much you’ll pay for your car insurance depends on factors unique to every driver. For example, the model year and trim level of your Tesla Model S will influence your car insurance rates. To find the best rate on Tesla car insurance, you’ll want to shop around and compare quotes from multiple providers.

Compare the cheapest Tesla Model S car insurance quotes

Shopping around and comparing quotes is the simplest way to save on car insurance. Rather than requesting individual quotes from providers, use
Jerry
—a
car insurance comparison tool
that simplifies insurance shopping. On average, Tesla Model S drivers who use Jerry save $3,690 per year on their car insurance. 
Take a look at the table below for real, free quotes Tesla owners found with Jerry.
DateCarInsurance companyPremium (monthly)CustomerInsurance coverage
May 23, 2024
Tesla Model SAllstate
$68
• 100,000/300,000 Liability
• Comp / Collision
May 16, 2024
Tesla Model SNationwide
$50
• 50,000/100,000 Liability
• Comp / Collision
coverageLast Updated May 23, 2024
Insurance costs vary, even for identical vehicles. Aside from factors like your driving habits, location, and age, insurers also consider vehicle-specific factors like the model year and trim level to calculate your insurance premium. If you want the best rate for your Tesla Model S without sacrificing coverage, compare quotes from at least three companies before deciding.

The best car insurance companies for Tesla Model S owners

No single insurance company will be the best fit for every Tesla Model S driver. Car insurance rates are as unique as every driver, and every insurance provider uses different criteria to
calculate your premium
But that doesn’t mean you’re alone—Jerry can still help you find the right insurer for your needs. We conducted the largest nationwide survey to help people find the best auto insurance companies. Check out the table below to see how drivers rated companies like
State Farm
,
GEICO
, and more in terms of cost effectiveness, claims handling, and customer service.
Insurance CompanyOverall RatingPriceClaims ExperienceCustomer Service
Safeco
4.6
4.4
4
4.5
Travelers
4.5
4.2
4.4
4.5
Progressive
4.3
3.9
3.9
4.3
AAA
4.2
4
3.8
4.4
Allstate
4.2
3.6
3.8
4.2
USAA
4
3.5
4.5
4.2
State Farm
4
3.4
3.8
4.2
Farmers
4
3.4
4.1
3.9
Geico
3.9
3.3
3.9
4
Liberty Mutual
3.7
3.2
3.5
3.7
Highlighticon

How'd we get these scores?

Jerry's experts conducted one of the largest car insurance surveys in the United States. We surveyed 15,000 policyholders, in all 50 states, over the span of 18 months. These policyholders hold insurance policies with 87 different insurance companies. We surveyed policyholders to gauge their satisfaction with their insurance carriers in: policy cost, customer service, buying and renewal experience, as well as claim experience. These scores were all reported by real customers of the insurance companies.

How much car insurance do you need for a Tesla Model S?

Car insurance rates for a Tesla Model S will vary based on individual factors, such as your driving record, age, and location, along with the insurance providers. However, on average, drivers pay between $79 and $228 per month for car insurance.
CarAverage Full Coverage Insurance CostAverage State Minimum Insurance Cost
Tesla Model S
$228
$79
There are two base coverage options for Tesla Model S insurance:
While the state minimum is the cheaper option overall, it will only cover damages for the other party—and if your limits max out, and you can’t afford to pay the remaining balance, your assets and future finances could be on the line. As a result, most Tesla Model S drivers will benefit from full coverage car insurance with higher liability limits and add-on options, such as
gap insurance
or
roadside assistance
Understanding average insurance helps estimate how much you can expect to pay to insure your Tesla Model S, but remember, they’re just averages. The only way to get exact quotes is to
shop for car insurance quotes
from multiple companies before deciding.

Why are some trims more expensive to insure than others?

When calculating insurance premiums, insurers take into consideration vehicle repair and replacement costs, which vary based on your Model S trim and model year. Insurance companies also look at safety features and safety scores from experts such as the Insurance Institute for Highway Safety (IIHS) and the National Highway Traffic Safety Administration (NHTSA). 
The table below compares the average insurance rates for different Tesla Model S trims.
CarMonthly minimum coverage costMonthly full coverage cost
Model S Tesla
$68
$225
Model S Tesla 85D
$190
$218
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Tesla Model S insurance cost by model year

The model year of your Tesla also influences how much you will pay to insure it due to repair and replacement costs. Newer Tesla vehicles generally cost more to insure due to a higher overall value and more costly tech components. 
Depending on the age of your Model S, you may pay a higher or lower rate for auto insurance coverage.

Are Tesla Model S expensive to insure? 

The average cost of car insurance for a Tesla Model S is $228 per month for a full coverage policy, and $79 per month for liability-only coverage. Compared to the national average for vehicles in a similar price range, the Model S is 8% cheaper to insure. 
CarMonthly minimum coverage costMonthly full coverage cost
Tesla Model S
$79
$228
Lincoln MKX
$90
$173
Audi A7
$70
$209
Jaguar E-Pace
$59
$178
Bmw X1
$84
$200
When calculating insurance rates, companies look at factors like MSRP, trim level, model year, and repair costs. Because these factors vary dramatically between cars, insurance prices will reflect these differences. It’s also important to note that auto insurance rates tend to be higher for electric cars and hybrids due to higher repair and replacement costs.

Tesla Model S safety features 

As with the model year and trim level of your Tesla, your vehicle’s safety features will also influence rates. New models tend to have more advanced safety features designed to reduce the risk of collisions. In general, the safer the car, the lower the cost to insure it.
Take a look at the table below for a breakdown of the available safety features in the Tesla Model S.
Safety featureDescription
Pretensioners
Seatbelt pretensioners automatically tighten seatbelts to place the occupant in the optimal seating position during a collision.
Stability control
Stability control automatically senses when the vehicles handling limits have been exceeded and reduces engine power and/or applies select brakes to help prevent the driver from losing control of the vehicle.
Knee airbags
Knee airbags help to protect the occupants lower extremities from serious injury in the event of an accident.
Anti-lock brakes
ABS brakes automatically sense when a tire has stopped rotating under extreme braking, and will modulate the brake pressure to allow the tire to rotate.This increases the vehicles ability to turn while braking.
Front-impact airbags
Front-impact airbags for the driver and passenger have been designed to protect the head during a frontal crash.
Side impact airbags
Side impact airbags for the front seats have been designed to protect the torso during a side impact collision.
Security system
The vehicle is equipped with a means of anticipating and/or detecting unwanted vehicle intrusion. The vehicle is equipped with an ignition disable device that will prevent the engine from starting if the correct original manufacturer key is not used.
Overhead airbags
Overhead airbags are used to protect the occupant's heads in the event of a side collision or rollover.

What other factors affect Tesla Model S insurance rates?

In addition to vehicle-specific factors, insurance companies consider other factors when calculating your
car insurance rate
. Your age (driving experience) and driving record are the two most important factors influencing car insurance rates. However, insurers also consider your claims history, location, and whether or not you have a good credit score.

Tesla Model S insurance cost for young drivers

Teen drivers
aged 16 to 19 face some of the highest insurance rates of any age group due to limited driving experience. Limited experience behind the wheel increases the risk of accidents, which increases their risk to an insurer. As a result, insurance rates go up. 
Take a look at some of the real rates teens received for a Tesla Model S using Jerry.
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Olive (22 years old)
coverageCoverage
50,000 per person
100,000 per accident bodily injury
Comp / Collision
$81
per month
card cover
Harriett (22 years old)
coverageCoverage
100,000 per person
300,000 per accident bodily injury
$80
per month

Tesla Model S insurance cost for senior drivers

Car insurance rates
tend to be lowest for seniors thanks to decades of driving experience. However, as seniors enter their 60s, rates start to increase due to a higher risk of being involved in an accident from slower reflexes and greater vulnerability to serious injuries if in a collision. 
Here are the premiums senior Tesla Model S owners pay with Jerry.
card cover
Lida (73 years old)
coverageCoverage
50,000 per person
100,000 per accident bodily injury
Comp / Collision
$56
per month
card cover
Herbert (71 years old)
coverageCoverage
100,000 per person
300,000 per accident bodily injury
$67
per month

Tesla Model S insurance cost for drivers with driving violations 

Drivers with
clean driving records
typically pay the lowest rates for car insurance. If you have a history of speeding tickets or accidents on your driving history, you can expect a higher-than-average rate until it’s cleared from your record. 
Some of the most common driving violations that can increase auto insurance rates include: 

Cheapest car insurance for Tesla Model S drivers with speeding ticket

Insurance repercussions will vary based on the severity of the offense. For example, a speeding ticket for 5 mph over the posted limit will not affect insurance rates to the same degree as a ticket for 20 mph over. 
How much your car insurance will increase also depends on whether you have any prior speeding violations on your record. Check out how much Tesla Model S owners pay for car insurance with a speeding ticket on their history.
Speeding TypeCarInsurance CompanyPremium (monthly)CustomerInsurance coverage
Speeding 1-5
Tesla Model SNationwide
$50
• 50,000/100,000 Liability
• Comp / Collision
Speeding 6-10
Tesla Model SAllstate
$68
• 100,000/300,000 Liability
• Comp / Collision
coverageLast Updated May 28, 2024

Cheapest car insurance for Tesla Model S drivers with a DUI record

A DUI on your driving record is a serious offense that will undoubtedly increase insurance rates—but by how much will vary from one provider to the next. Some insurance providers place more emphasis on other factors on a driving profile, whereas other providers may deny coverage to a driver with a DUI. 
Thanks to Jerry, you can still find the cheapest auto insurance rates whether you have a DUI or a clean driving record. See some real quotes Tesla Model S drivers with a DUI found using Jerry.
card cover
Dennis (34 years old)
coverageCoverage
50,000 per person
100,000 per accident bodily injury
Comp / Collision
$62
per month
card cover
Grace (36 years old)
coverageCoverage
100,000 per person
300,000 per accident bodily injury
Comp / Collision
$53
per month

Cheapest car insurance for Tesla Model S drivers after an accident

If you were recently involved in an at-fault accident, expect your insurance rates to climb. Insurance companies calculate rates based on your driving behavior and level of risk, and a history of (or even one) at-fault accidents suggests you’re a higher-risk driver. 
But don’t panic—Jerry can still help you find the most affordable auto insurance rates, even after an accident.
Accident typeCarInsurance CompanyPremium (monthly)CustomerInsurance coverage
At Fault With Injury
Tesla Model SAAA
$76
• 50,000/100,000 Liability
• Comp / Collision
At Fault With No Injury
Tesla Model STravelers
$47
• 50,000/100,000 Liability
coverageLast Updated May 24, 2024

Cheapest car insurance for Tesla Model S drivers with other driving violations on their record

DUIs, speeding tickets, and accidents are just a few violations that can increase your insurance premium. Other offenses, such as reckless driving or driving without insurance, can also cause insurance rates to climb. 
Check out the table below to see how we helped Tesla Model S drivers with these violations and others save money on car insurance.

ViolationCarInsurance CompanyPremium (monthly)CustomerInsurance Coverage
Illegal Turn
Tesla Model SNationwide
$63
• 100,000/300,000 Liability
• Comp / Collision
Defective Equipment
Tesla Model SProgressive
$49
• 50,000/100,000 Liability
• Comp / Collision
coverageLast Updated May 28, 2024

How can I lower the cost of insurance for my car?

If you feel you’re paying too much for auto insurance for your Tesla Model S, here are a few tips and insurance products to help you reduce your rate and save:
  • Shop around: Comparing rates from multiple providers and shopping around frequently is one of the easiest ways to avoid overpaying for insurance—and with Jerry, it’s as simple as signing up and turning on automatic re-shopping once you’re locked into one policy.
  • Increase your deductible: Collision and comprehensive insurance are both subject to a deductible. Increasing your deductibles to the highest amount you can afford upfront can help reduce your monthly payments. 
  • Look for discounts:
    Car insurance discounts
    are an easy way to save. All insurers offer them, but what’s available will vary based on your location and the provider. 
  • Bundle your insurance policies:
    Bundling your homeowners and auto insurance
    (or auto and renters) with the same insurance company helps you save on your overall premium.

Methodology

The Insurance Research Team analyzes insurance products and services to drive insights and help consumers make informed purchase decisions. 
Insurance research: We analyzed over 25 million car insurance quotes; conducted the largest insurance shopping survey (over 15,000 customers surveyed and 85 carriers reviewed in the past 18 months). 
We surveyed insurance policyholders for their experience with their insurers in the following areas: (1) insurance cost (2) customer service (3) insurance buying experience (4) insurance renewal experience (5) claim experience. In addition, we asked people what they like about their insurers and what areas in which their insurers could improve. The driver characteristics used in calculating average rates for auto insurance include: single driver, single car, currently insured, clean driving record.  
For the quotes and sold policies included in this article, please note that personal information has been hidden. Not all customers find savings. 
Team: The team consists of licensed insurance agents, insurance industry veterans, and data scientists.

Meet our experts

avatar
Andrea Barrett
Andrea Barrett is an insurance writer with five years of experience in writing and publishing. Andrea specializes in car insurance, maintenance, and brand reviews, and her mission is to create comprehensive and useful content readers can use to help lower their car-related expenses. Andrea has written nearly 1,500 articles for Jerry on topics ranging from first-time buyer programs to insurance costs and vehicle life expectancies.
Before joining Jerry, Andrea co-founded a successful health food business and created content for clients in the health and wellness industry.
avatar
Kianna Walpole
badge icon
Expert Insurance Writer & Editor
Kianna Walpole is an insurance writer and editor with a comprehensive background in consumer behavior and online publishing. With experience in car insurance, maintenance, and repair, she is dedicated to building informative content that helps customers reduce costs while achieving the best service. Prior to joining the Jerry editorial team, Kianna worked as a junior editor in the content marketing industry, using consumer data and key insights to create and edit content for an array of large-scale clients in the real estate, cybersecurity, and healthcare industries.
avatar
Josh Damico
badge icon
Head Of Insurance Operations
badge icon
18+ Years Experience in Insurance
Josh Damico is Jerry’s vice president of insurance operations and a licensed insurance professional with nearly two decades of experience in the industry. Previously, Josh held executive roles at Geico, where he had vast regional oversight and leadership opportunities.  He holds a bachelor’s degree in business administration and management from Medaille College, and has appeared on news channels including FOX and CBS to offer insurance expertise and tips to drivers across the country. His work has appeared in Business Insider, Kelley Blue Book, and Digital Insurance and been quoted in The Balance, GOBankingRates, and Inspiring Workplaces.
*Illustration only. For all the pricing information presented in this article (including various tables), please note that not all customers find savings and the information is for illustrative purposes only. Savings depend on type of car, location, policy features, driving history and other factors. Drivers who switch through Jerry save over $70/month on average.