How Much Does It Cost To Insure Your Tesla?

Lisa Steuer McArdle
Updated on Jun 27, 2022 · 3 min read
is a very popular carmaker these days, as the vehicles have high safety ratings and a lower environmental impact than other brands.
Tesla drivers
sometimes pay more for
car insurance
because of the cars’ high repair costs. Here at
, we recently gathered more data on Tesla car insurance rates broken down by model.
We recently gathered data on Tesla car insurance costs

Tesla car insurance costs by model

Our research shows that the Tesla Model S is the most expensive to insure, at an average of $316 per month.
The Tesla Model S is followed by the Model X, which costs about $302 per month on average. The Model 3 is next, at an average of $233 per month. The Model Y is the cheapest to insure on average at a rate of about $203 per month.
Although it costs more to purchase a Model Y than a Model 3, Model Y insurance is about 15% less expensive than Model 3 insurance. According to
, the Model 3 starts at around $39,990, while the Model Y is about $53,990.
This just goes to show that despite popular belief, expensive cars don’t always require more expensive insurance.

Tesla car insurance costs by gender

The average Tesla driver is young and male. The average owner is 31 years old, with 84% of owners being male and 16% female.
We also broke down the data to look at the differences between what men and women pay in car insurance for the different Tesla models. We found that for each of the four Tesla models, female drivers on average pay a little more than male drivers do.
Female Model 3 and Model Y drivers pay more than male drivers, even with no violations and similar average driver age.
When we split the violations by gender, we found there were 3.5% fewer female Tesla drivers with violations than male drivers. In addition, there’s a 4% difference in individuals with violations between female Tesla drivers and female non-Tesla drivers, and a similar 4% difference between male Tesla drivers and male non-Tesla drivers.
It may be surprising to some that while female Tesla drivers tend to be safer, they still pay higher insurance rates than male Tesla drivers.
Our data also reveals that Tesla car insurance is slightly more expensive this year than last year. That does make sense, considering that
new cars
tend to be more expensive to insure.

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