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Cheapest Tesla Model Y Car Insurance (Jun 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 Y
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Maria Cruz
Expert Insurance Writer & Editor
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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 Y car insurance cost? 

On average, Tesla Model Y drivers spend $94 each month on state minimum car insurance and $220 per month for full coverage. Compared to other popular cars like the Pontiac Firebird, Jeep Liberty, and Subaru Legacy, the Tesla Model Y is 6% more expensive to insure. 
However, there is no real ‘average’ cost of car insurance as your price depends on your driver profile. Many factors play a role in determining your Tesla Model Y insurance costs, from the trim level you own to your car’s age. The only way to understand how much your car insurance will cost is to compare car insurance quotes

Compare the cheapest Tesla Model Y car insurance quotes

This may feel complicated, but it doesn’t have to be.
Jerry
is a
car insurance price comparison
tool that helps you to easily compare quotes, saving you time and money. Jerry has helped Tesla Model Y drivers save an average of $2,224 per year on their car insurance. 
Check out the table below to see real, free quotes that real people have gotten from Jerry.
DateCarInsurance companyPremium (monthly)CustomerInsurance coverage
June 21, 2024
Tesla Model YAllstate
$59
• 100,000/300,000 Liability
June 16, 2024
Tesla Model YAAA
$58
• 50,000/100,000 Liability
• Comp / Collision
coverageLast Updated Jun 21, 2024
However, insurance costs can vary greatly even for the same model. In addition to your driving record, ZIP code, and insurance history, insurance companies will consider your car’s model year and trim level when generating a quote.
To find out the rate for your Tesla Model Y, you’ll need to
get car insurance quotes
from at least three insurance companies.

The best car insurance companies for Tesla Model Y owners

There’s no single best insurance company for all Tesla Model Y owners—car insurance rates are highly personalized, and every insurance company uses a slightly different algorithm to
calculate your premiums
But that doesn’t mean we can’t find the best insurance company for you
Jerry conducted the largest survey in the nation to help people compare car insurance companies. Check out how drivers rate different insurance companies below.
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
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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 Y?

The average cost of Tesla Model Y insurance is $220 per month for full coverage and $94 for state minimum coverage– but individual quotes can vary greatly depending on a variety of factors including model year, trim level, driving history coverage levels, and more. 
CarAverage Full Coverage Insurance CostAverage State Minimum Insurance Cost
Tesla Model Y
$220
$94
  • Minimum coverage insurance
    is the minimum amount of coverage legally required in your state, which typically includes at least bodily injury and property damage liability insurance. 
  • Full coverage insurance
    provides financial protection for damage to yourself, your vehicle, and other vehicles and passengers involved in an accident.
While knowing auto insurance averages can be useful, getting personalized quotes is
the best way to shop for insurance
. Jerry makes quote shopping easy, finding you the best coverage at the best rate.

Why are some trims more expensive to insure than others?

Repair and replacement costs tend to be higher for premium trim levels, making them a higher risk to insurance companies. 
Check out the table below to see the average cost of auto insurance for some popular Tesla Model Y trims.
CarMonthly minimum coverage costMonthly full coverage cost
Model Y Tesla
$94
$220
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Tesla Model Y insurance cost by model year

The more recently your Tesla Model Y was manufactured, the more it’ll cost to insure. New models are worth more and often have higher repair costs thanks to cutting-edge technology. Check out some see real quotes for Tesla Model Ys provided by Jerry to better understand how your driver profile might affect your cost.

Are Tesla Model Ys expensive to insure? 

The average Tesla Model Y insurance rate is $94 per month. Compared to the national average for other models from a similar price range, it is 6% more expensive to insure a Tesla Model Y .
CarMonthly minimum coverage costMonthly full coverage cost
Tesla Model Y
$94
$220
Lincoln MKX
$90
$173
Audi TT
$89
$136
Jaguar F-Type
$125
$225
BMW 228
$113
$240
Why are similar cars more or less expensive to insure? When calculating the cost of your insurance, insurance companies take many factors into consideration. MSRP, trim level, model year, and the cost of repairs are some of the many factors that can influence how much your insurance costs.

Tesla Model Y safety ratings

Insurance companies also consider the safety ratings of a particular car to determine insurance premiums. 
The two best-known vehicle safety rating organizations are:
  • Insurance Institute for Highway Safety (IIHS): The IIHS assesses the safety of a vehicle using two factors: how well vehicle occupants are protected in the event of a car crash, and how well the technology in the vehicle can prevent or reduce the severity of crashes.
  • National Highway Traffic Safety Administration (NHTSA): The NHTSA’s 5-Star Safety Rating is based on how vehicles perform in frontal, side and rollover crash tests. 
See the tables below for a detailed look at safety ratings for the Tesla Model Y.

Insurance Institute for Highway Safety (IIHS) Rating

Rating typeRating
Small overlap front: driver-side
Good
Small overlap front: passenger-side
Good
Moderate overlap front: original test
Good
Moderate overlap front: updated test
Good
Side: original test
Good
Side: updated test
Good
Roof strength
Good
Head restraints & seats
Good
Headlights (varies by trim/option)
Good/Average depending on trim/option
Front crash prevention: vehicle-to-vehicle
Superior
Front crash prevention: vehicle-to-pedestrian (day)
Superior
Front crash prevention: vehicle-to-pedestrian (night)
Superior
LATCH ease of use
Acceptable

Tesla Model Y safety features 

The safety features of a model will also impact your insurance costs. 
A vehicle with more advanced safety features poses a lower risk to insurance companies. As a result, insurance costs will be lower for vehicles with more (and better) safety features. 
The Tesla Model Y has a variety of safety features. Learn more about them below.
Safety featureDescription
Overhead airbags
Overhead airbags are used to protect the occupant's heads in the event of a side collision or rollover.
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.
Pretensioners
Seatbelt pretensioners automatically tighten seatbelts to place the occupant in the optimal seating position during a collision.
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.
Knee airbags
Knee airbags help to protect the occupants lower extremities from serious injury in the event of an accident.
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.
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.

What other factors affect Tesla Model Y insurance rates?

Many factors influence your
car insurance rate
, such as:
  • The kind of car you have: Collision and comprehensive coverage are more costly for luxury, high-performance, and sports cars.
  • Your age: Driver age affects insurance rates too. Drivers under 25 years of age will pay higher insurance rates. Insurance companies consider young drivers to be high risks due to their limited driving experience.
  • Your driving record and claims history: Insurance companies will charge more if you have a history of accidents or tickets.

Tesla Model Y insurance cost for young drivers

Teen drivers
between the ages of 16 and 19 face the highest insurance costs out of any age group. For teen car owners driving a newer car, full coverage insurance offers better financial protection, since teenagers are more likely to get into accidents.
card cover
Ethan (24 years old)
coverageCoverage
50,000 per person
100,000 per accident bodily injury
$66
per month
card cover
Jeanette (19 years old)
coverageCoverage
100,000 per person
300,000 per accident bodily injury
$77
per month

Tesla Model Y insurance cost for senior drivers

As you enter your mid-70s, car insurance costs begin to climb again. 
Car insurance rates for seniors
 tend to be higher for several reasons. 
Older drivers are more likely to be involved in accidents, and are also more vulnerable to severe injuries in the event of a collision, leading to significant medical expenses and other increased costs for insurance providers.
card cover
Devin (67 years old)
coverageCoverage
50,000 per person
100,000 per accident bodily injury
$78
per month
card cover
Hulda (69 years old)
coverageCoverage
100,000 per person
300,000 per accident bodily injury
Comp / Collision
$71
per month

Tesla Model Y insurance cost for drivers with driving violations 

Your driving record impacts your auto insurance quotes. Those with a clean driving record are rewarded with lower insurance premiums.  
If insurance companies notice a history of violations, they’ll see you as a higher risk and charge you a steeper rate. Some common violations that could increase your insurance rates include:
  • Speeding
  • DUIs
  • At fault accident
  • Reckless driving
  • Driving on a suspended license

Cheapest car insurance for Tesla Model Y drivers with speeding ticket

There are varying degrees of speeding. For example, speeding 1-5 MPH over the limit, 6-10 MPH over the limit generally won’t raise your rates as much as speeding over 21 MPH over the limit. 
Jerry is proud to help Tesla Model Y drivers with varying speeding tickets save on car insurance.
Speeding TypeCarInsurance CompanyPremium (monthly)CustomerInsurance coverage
Speeding 1-5
Tesla Model YAAA
$58
• 50,000/100,000 Liability
• Comp / Collision
Speeding 6-10
Tesla Model YAllstate
$59
• 100,000/300,000 Liability
coverageLast Updated Jun 19, 2024

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

If you have a DUI offense on your record, car insurance rates can vary significantly from one insurance company to another. 
You may need to compare rates from many insurance companies to find low-cost options after a DUI. Jerry has helped many Tesla Model Y drivers obtain affordable auto insurance rates after a DUI.
card cover
Travis (30 years old)
coverageCoverage
50,000 per person
100,000 per accident bodily injury
Comp / Collision
$80
per month
card cover
Francisco (42 years old)
coverageCoverage
100,000 per person
300,000 per accident bodily injury
$63
per month

Cheapest car insurance for Tesla Model Y drivers after an accident

One of the most important factors affecting car insurance rates is your car accident or claim history. 
If you were involved in an at-fault accident in the recent past, your car insurance rates could skyrocket. Jerry has helped many Tesla Model Y drivers save on car insurance after car accidents.
Accident typeCarInsurance CompanyPremium (monthly)CustomerInsurance coverage
At Fault With Injury
Tesla Model YAllstate
$78
• 50,000/100,000 Liability
At Fault With No Injury
Tesla Model YNationwide
$67
• 50,000/100,000 Liability
• Comp / Collision
coverageLast Updated Jun 21, 2024

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

Other driving violations have the power to impact the cost of your insurance, too. In addition to speeding tickets and DUIs, other violations such as reckless driving and driving on a suspended license can also cause your car insurance costs to increase. 
We’ve compiled a list of various other driving violations and how we helped Tesla Model Y drivers with these violations save on their car insurance.

ViolationCarInsurance CompanyPremium (monthly)CustomerInsurance Coverage
Illegal Turn
Tesla Model YProgressive
$69
• 100,000/300,000 Liability
• Comp / Collision
Defective Equipment
Tesla Model YAllstate
$64
• 50,000/100,000 Liability
• Comp / Collision
coverageLast Updated Jun 21, 2024

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

There are a variety of ways to lower insurance costs for your vehicle. 
  • Shop around: Shopping around for insurance coverage by comparing quotes from different insurance providers allows you to find the best coverage at the best price. Jerry makes this process easy by gathering quotes from over 55 top insurance companies in minutes, so you can compare prices. If you find a better deal, Jerry can even help you buy your new policy and cancel your old one.
  • Raise your deductible: Your
    car insurance deductible
    is the amount of money you pay out of pocket before your collision or comprehensive coverage kicks in. Raising your deductible reduces monthly insurance payments—but avoid raising it higher than you can afford to pay.
  • Reduce your coverage: If you have any older cars, you can
    reduce coverage
    on them to lower your bill. This is a good idea if your car is worth less than 10 times the premium you’re paying.
  • Research discounts: All insurance companies offer discounts, but they’re not always advertised, and your eligibility may vary from provider to provider. Check with your current insurer to see what discounts you might be missing out on. 
  • Bundle your insurance policies:
    Bundling your homeowners and auto insurance
    with the same company can amount to a lower overall bill. 

FAQs

Who has the cheapest Tesla Model Y insurance?

Some of the cheapest full coverage car insurance rates for a Tesla Model Y can be found with Nationwide ($1,138/year), Embark General ($1,233/year), and Mercury Auto ($1,405/year). 
If you’re interested in just sticking with state minimum coverage, some of the cheapest rates can be found with Trexis ($514/year), Clearcover ($528/year), and Founders Insurance ($561/year). 

Why is Tesla insurance so expensive?

Electric vehicles in general tend to see higher premium costs because of their higher repair and replacement costs. Other reasons could be driver-related factors, such as age or driving history, or vehicle trim and engine type.. 

How much is car insurance for a Tesla Model Y?

The average cost of state minimum car insurance for a Tesla Model Y is $94 each month. Full coverage, on the other hand, is roughly $220 every month. But keep in mind that car insurance is dependent on a number of factors, so rates will differ across drivers.

What factors affect the insurance cost for a Tesla Model Y?

Car insurance companies often factor in things like your age, ZIP code, vehicle make and model, and driving history to determine your rates. Your credit score is also a huge determining factor in how much you pay unless you live in Michigan, Massachusetts, Hawaii, or California—the only four states that don’t allow providers to factor in your credit score.

Can you get affordable insurance for a Tesla Model Y?

No one insurance company is going to offer the best rates for everyone because every driver’s profile is different, but that doesn’t mean getting affordable coverage is impossible. To find the best rates for you, shop for and compare quotes from at least three different companies to ensure you’re getting the best coverage. 

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

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Maria Cruz
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Expert Insurance Writer & Editor
Maria is an insurance writer with over 10 years of experience as a professional writer. Prior to joining Jerry’s editorial team in 2023, she worked at various online publications like Nimble Media, Factinate.com, and served as editor-in-chief at The Medium. She holds a double major in English and Professional Writing and Communications.
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Kianna Walpole
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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.
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Josh Damico
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Head Of Insurance Operations
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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.