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Tesla Model S Insurance (August 2025)

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Key Takeaways

  • Nationwide offers the most affordable full coverage for a Tesla Model S at $1,883 per year.
  • Insurance for a Tesla Model S is most expensive for younger drivers, with 16-year-olds paying up to $12,752 annually. In contrast, drivers aged 40 only pay around $2,767 for the same coverage.
  • Tesla Model S insurance costs can fluctuate widely based on factors like state regulations, recent accidents, or poor credit, with Michigan having some of the highest rates at over $9,000 annually for good drivers.

Tesla Model S Insurance Cost

On average, Tesla Model S car insurance premiums for full coverage are $2678 annually, or approximately $223 per month.

The cost of auto insurance for a Tesla Model S is significantly influenced by factors such as mileage, insurance company, jurisdiction, and age. These rates are also influenced by factors such as credit history, traffic violations, and recent accidents.

Comprehensive coverage is estimated to cost $992 annually, liability/medical coverage is approximately $450, and the remaining collision coverage will cost approximately $1,236 if the average policy is deconstructed into individual coverages.

Driver Age $1,000 Deductibles $500 Deductibles $250 Deductibles
20 $4,164 $5,108 $6,098
30 $2,328 $2,884 $3,454
40 $2,168 $2,678 $3,204
50 $1,914 $2,356 $2,812
60 $1,782 $2,194 $2,616

The Best Car Insurance Company for a Tesla Model S

Nationwide will offer you offer the cheapest full coverage insurance premium for a Tesla S Model at a rate approximately around $1883. At the other end of the spectrum is the Farmers. If you opt for Farmers you will have to pay on an average of $4438 per year.

State Farm is the most cost-effective company for minimum coverage, with an average annual premium of $491. Conversely, Farmers is the least cost-effective provider, once again charging $1,431.

This demonstrates the significance of contrasting rates when seeking the most affordable car insurance.

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Tesla Model S Full Coverage Auto Insurance: Company Premium Comparison

The cost of full-coverage auto insurance can vary widely. Nationwide offers the least expensive option, with an average annual premium of $1,883, while Farmers offers the most expensive rate, at $4,438. Comparing these rates can help drivers find the best balance between coverage and affordability.

Full Coverage
Company Average Annual Premium
Nationwide $1,883
State Farm $1,884
Travelers $2,113
Progressive $2,515
Allstate $3,610
Farmers $4,438

Tesla Model S State Minimum Auto Insurance: Company Premium Comparison

For drivers seeking the minimum required auto insurance, State Farm offers the cheapest annual premium at $491, whereas Farmers is the most expensive at $1,431. Choosing state minimum coverage can provide essential protection while keeping costs low.

State Minimum
Company Average Annual Premium
State Farm $491
Allstate $543
Travelers $633
Nationwide $665
Progressive $725
Farmers $1,431

Tesla Model S Insurance Costs by State

The cheapest auto insurance premium for a Tesla Model S is $2,143 in Hawaii. While the most expensive rates is $9,271 which is in the state of Michigan.

The cost of Tesla Model S car insurance premiums can vary significantly based on the location of the person. Michigan mandates significantly higher coverage levels, which results in higher rates. In California, Hawaii, and Massachusetts, providers are prohibited from adjusting rates based on credit.

The summary below provides a detailed analysis of the potential impact of these factors on the Tesla Model S by state.

State Good Driver Recent Accident Poor Credit
Alaska $4,057 $5,624 $5,466
Alabama $4,905 $7,124 $9,068
Arizona $4,586 $6,630 $9,768
Arkansas $5,028 $7,901 $8,699
California $5,599 $9,901 $5,599
Colorado $5,225 $7,312 $9,277
Connecticut $6,675 $10,353 $13,141
Delaware $5,526 $7,365 $9,459
Florida $6,580 $9,103 $11,862
Georgia $5,364 $8,021 $8,088
Hawaii $2,143 $2,909 $2,143
Idaho $3,723 $4,935 $6,000
Illinois $3,897 $5,890 $6,716
Indiana $4,003 $6,120 $6,868
Iowa $3,171 $4,348 $5,113
Kansas $4,218 $6,138 $7,179
Kentucky $6,098 $8,952 $10,571
Louisiana $7,829 $11,834 $12,831
Maine $2,960 $4,092 $6,041
Maryland $4,791 $6,972 $7,744
Massachusetts $3,842 $6,702 $3,842
Michigan $9,271 $14,127 $22,283
Minnesota $3,816 $5,088 $7,165
Mississippi $4,607 $6,571 $6,614
Missouri $4,341 $6,206 $8,153
Montana $4,413 $6,158 $7,168
Nebraska $3,731 $5,517 $5,994
Nevada $6,153 $9,127 $9,642
New Hampshire $4,280 $6,769 $8,556
New Jersey $4,716 $7,399 $9,682
New Mexico $4,816 $7,164 $7,436
New York $4,461 $5,617 $9,377
North Carolina $2,765 $4,751 $3,388
North Dakota $3,784 $5,751 $6,802
Ohio $3,374 $5,204 $5,336
Oklahoma $5,388 $7,715 $8,687
Oregon $4,903 $6,579 $7,858
Pennsylvania $4,130 $6,064 $7,095
Rhode Island $6,895 $10,115 $11,390
South Carolina $4,683 $6,490 $8,957
South Dakota $4,201 $6,054 $6,985
Tennessee $4,941 $7,274 $9,686
Texas $4,976 $7,189 $8,942
Utah $4,233 $5,931 $8,162
Vermont $3,258 $5,018 $5,304
Virginia $3,069 $4,713 $4,619
Washington $4,063 $5,515 $6,585
West Virginia $4,089 $5,855 $7,336
Wisconsin $4,076 $6,363 $7,257
Wyoming $3,805 $5,327 $5,673

Tesla Model Y Insurance vs. Similar Cars

The Tesla Model S is ranked 26th out of 34 comparison vehicles in the midsize luxury car category. The cost of complete coverage insurance is estimated at $2,678 per year, while the category average is $2,508 per year. This represents a $170 per year differential.

Tesla Model S car insurance costs $542 more per year than the Lexus ES 350, $194 more than the BMW 530i, $366 more than the Infiniti Q50, and $574 more than the Mercedes-Benz CLA250 when set against other popular midsize luxury cars.

The table below illustrates the affordability of Tesla Model S insurance prices in comparison to the entire midsize luxury segment.

Rank Make and Model Annual Premium
1 Mercedes-Benz CLA250 $2,104
2 Lexus IS 300 $2,108
3 Lexus ES 350 $2,136
4 Mercedes-Benz AMG CLA35 $2,144
5 Lexus RC 300 $2,148
6 Jaguar XF $2,164
7 Cadillac CT5 $2,204
8 Lexus ES 250 $2,212
9 Lexus ES 300h $2,244
10 Audi A3 $2,300
11 Infiniti Q50 $2,312
12 Mercedes-Benz AMG CLA45 $2,340
13 Audi S4 $2,352
14 Mercedes-Benz EQE 350 $2,378
15 BMW i4 $2,386
16 Lexus IS 500 $2,418
17 BMW 530i $2,484
18 Audi S5 $2,520
19 BMW 540i $2,532
20 BMW 430i $2,570
21 BMW i5 $2,582
22 Genesis G80 $2,592
23 Mercedes-Benz EQE 500 $2,624
24 Mercedes-Benz AMG C43 $2,640
25 Audi A6 $2,648
26 Tesla Model S $2,678
27 BMW 530e $2,706
28 Audi RS 5 $2,708
29 Audi S6 $2,730
30 BMW M440i $2,800
31 Audi A7 $2,850
32 Lexus LC 500h $3,062
33 Audi S7 $3,162
34 BMW M8 $3,444

Cost of Insuring a Tesla Model S for 16-to 25-Year-Olds

Auto insurance companies consider your age when determining your rate for a Tesla Model Se into account. The cost of auto insurance for teenagers is higher than that of middle-aged drivers.

The average annual rate for a 16-year-old who purchases a full coverage policy for a Tesla Model S is an astonishing $12,752. Conversely, a 40-year-old driver who purchases the same policy only spends approximately $2,767.

Full Coverage of Auto Insurance Premiums by Age

Full coverage auto insurance rates vary significantly by age group, with younger drivers facing the highest premiums. For 16-year-olds, the average annual premium is the most expensive at $12,752. However, as drivers age, the rates decrease steadily, with 25-year-olds paying the least, at $3,302 annually.

Full Coverage
Driver Age Average Annual Premium
16 $12,752
17 $10,189
18 $9,125
19 $6,345
20 $5,812
21 $4,441
22 $4,122
23 $3,844
24 $3,666
25 $3,302

State Minimum Auto Insurance Premiums by Age

State minimum auto insurance premiums also reflect a sharp decline with age. The most expensive rates apply to 16-year-olds, who pay $3,889 annually. By the age of 25, the cost drops to the lowest at $898, making it much more affordable for older drivers.

State Minimum
Driver Age Average Annual Premium
16 $3,889
17 $3,041
18 $2,707
19 $1,858
20 $1,684
21 $1,213
22 $1,119
23 $1,037
24 $985
25 $898

How Much It Costs to Insure a Tesla Model S by Model Year

Getting multiple auto insurance quotes can help eliminate uncertainty, which can facilitate the process of identifying the most cost-effective rates.

The following table presents the average Tesla Model S insurance rates for the 2013 to 2024 model years. The annual cost of car insurance typically ranges from $1,978 for a 2013 model to $2,678 for a 2024 Model.

Model Year and Vehicle Annual Premium Cost Per Month
2024 Tesla Model S $2,678 $223
2025 Tesla Model S $3,052 $254
2022 Tesla Model S $2,974 $248
2021 Tesla Model S $2,878 $240
2020 Tesla Model S $2,788 $232
2019 Tesla Model S $2,430 $203
2018 Tesla Model S $2,454 $205
2017 Tesla Model S $2,364 $197
2016 Tesla Model S $2,258 $188
2015 Tesla Model S $2,262 $189
2014 Tesla Model S $2,192 $183
2013 Tesla Model S $1,978 $165

Affordable Tesla Model S Auto Insurance - 2019

Infinity offers the most affordable premium at $1,660, providing excellent value for Tesla Model S owners in 2019. Progressive charges a higher rate of $2,706, making it one of the most expensive options for this model year.

2019 Tesla Model S
Cheapest Insurance Companies Average Annual Cost
Infinity $1,660
Cincinnati Insurance $1,879
Erie $1,912
American Family $2,062
Nationwide $2,151
Auto Owners $2,207
USAA $2,223
Country $2,428
State Farm $2,597
Arbella $2,633
Southern Farm Bureau $2,693
Progressive $2,706

Affordable Tesla Model S Auto Insurance - 2018

Erie stands out with a low annual premium of $1,398, making it the most affordable choice for Tesla owners in 2018. AAA's premium for this year soars to $4,343, marking it as the most expensive option.

2018 Tesla Model S
Cheapest Insurance Companies Average Annual Cost
Erie $1,398
USAA $1,953
Nationwide $1,963
Country $2,291
Progressive $2,400
State Farm $2,651
American Family $3,239
Liberty Mutual $3,309
MetLife $3,596
AAA $4,343

Affordable Tesla Model S Auto Insurance - 2017

Country offers the lowest premium, at $837, making it affordable for 2017 Tesla Model S drivers. Oklahoma Farmers Union charges a premium of $1,088, ranking as the highest for this model year.

2017 Tesla Model S
Cheapest Insurance Companies Average Annual Cost
Country $837
Cincinnati Insurance $872
Erie $875
Allmerica $886
Mercury $888
Acuity $912
Vermont Mutual $931
Plymouth Rock Insurance $934
USAA $999
Farmers $1,026
MetLife $1,037
Oklahoma Farmers Union $1,088

Affordable Tesla Model S Auto Insurance - 2016

Cincinnati Insurance offers the most budget-friendly rate at $729, providing an excellent deal for 2016 Tesla Model S owners. Nationwide has the highest premium at $2,000 for this year.

2016 Tesla Model S
Cheapest Insurance Companies Average Annual Cost
Cincinnati Insurance $729
Texas Farm Bureau $785
Oklahoma Farmers Union $1,014
Mercury $1,024
Quincy Mutual $1,131
Tennessee Farmers $1,294
Erie $1,381
USAA $1,828
Safe Auto $1,923
Acuity $1,953
Progressive $1,976
Nationwide $2,000

Affordable Tesla Model S Auto Insurance - 2015

Cincinnati Insurance remains the cheapest option with a rate of $722, offering great value for Tesla drivers in 2015. Tennessee Farmers has the highest premium at $2,084 for this model year.

2015 Tesla Model S
Cheapest Insurance Companies Average Annual Cost
Cincinnati Insurance $722
Texas Farm Bureau $767
Oklahoma Farmers Union $985
Mercury $1,000
Quincy Mutual $1,107
Erie $1,591
Progressive $1,676
State Farm $1,682
USAA $1,690
Safe Auto $1,819
Nationwide $1,923
Tennessee Farmers $2,084

Affordable Tesla Model S Auto Insurance - 2014

Cincinnati Insurance offers the lowest annual cost, $746, making it the most affordable choice in 2014. Country charges $1,895, the most expensive premium for the year.

2014 Tesla Model S
Cheapest Insurance Companies Average Annual Cost
Cincinnati Insurance $746
Texas Farm Bureau $803
Mercury $1,018
Quincy Mutual $1,079
Erie $1,198
Oklahoma Farmers Union $1,356
USAA $1,677
Acuity $1,684
Vermont Mutual $1,789
Tennessee Farmers $1,797
Arbella $1,889
Country $1,895

Affordable Tesla Model S Auto Insurance – 2013

Erie provides the best rate at $973, securing the spot as the cheapest provider for 2013. Vermont Mutual, at $1,943, offers the highest premium for this model year.

2013 Tesla Model S
Cheapest Insurance Companies Average Annual Cost
Erie $973
Mercury $999
Quincy Mutual $1,051
Cincinnati Insurance $1,140
Texas Farm Bureau $1,316
USAA $1,427
Progressive $1,494
State Farm $1,669
Arbella $1,872
Acuity $1,875
Tennessee Farmers $1,878
Vermont Mutual $1,943

Affordable Tesla Model S Auto Insurance - 2012

Mercury offers the lowest premium of $1,006, making it the most affordable option for 2012 Tesla Model S owners. Tennessee Farmers charges a premium of $1,813, making it the most expensive choice for this year.

2012 Tesla Model S
Cheapest Insurance Companies Average Annual Cost
Mercury $1,006
Erie $1,017
Quincy Mutual $1,027
Cincinnati Insurance $1,182
USAA $1,225
Texas Farm Bureau $1,280
Progressive $1,538
State Farm $1,539
Acuity $1,694
Vermont Mutual $1,761
Arbella $1,787
Tennessee Farmers $1,813

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What impacts the cost of Tesla Model S insurance rates?

Several factors influence how much you'll pay for insuring a Tesla Model S. Let's break down the key variables:

Factor How It Impacts Your Insurance Rates
Driver’s Age Younger drivers, especially under 25, are considered high-risk, leading to higher premiums. Mature drivers (age 50-60) often enjoy lower rates due to their driving experience.
Driving Record A clean driving record can reduce insurance costs, while traffic violations or accidents may increase premiums significantly.
Location Urban areas with heavy traffic or higher theft rates can increase insurance costs compared to rural areas.
Coverage Level Opting for higher coverage (e.g., low deductibles) will raise your premiums, while higher deductibles lower the monthly cost but require you to pay more out-of-pocket in claims.
Annual Mileage Drivers who use their Tesla Model S more frequently or for long distances will face higher premiums, as more time on the road increases the likelihood of accidents.
Credit Score In many states, a lower credit score can lead to higher insurance premiums, as insurers may see this as a sign of financial risk.
Car’s Value & Repair Costs The Tesla Model S has high repair costs due to its advanced technology and parts. As a luxury electric vehicle, it generally commands higher insurance premiums.
Safety Features The Tesla Model S is equipped with advanced safety features. These can help lower insurance premiums as they reduce the likelihood of accidents or damage.
Insurance Provider Different insurers assess risk differently, which means shopping around can help you find the best rate for your specific profile.

How to Save Money on Tesla Model S Car Insurance

There are a number of strategies to reduce the cost of auto insurance, including:

  • Compare Auto Insurance Quotes:Auto insurance quotes for a Tesla Model S are priced differently by companies. Comparing auto insurance quotes from many providers is the best approach to discovering a cheap price.
  • Right Level of Auto Insurance:It's important to make sure you have enough insurance. However, you also want to avoid overpaying for coverage specific to your Tesla Model S.
  • Maintain a Good Credit Score:Most states allow insurers to base an insurance quote on your credit score. However, different insurers assess credit differently when determining prices, so it makes sense to compare rates.
  • Increase the Deductible Amount:Your auto insurance costs will decrease as your deductible increases. The typical range of deductible amounts is up to $2,000.

Bottomline

Tesla Model S insurance costs are influenced by factors like driver age, location, driving history, and coverage level. The annual premium for full coverage averages $2,678, with Nationwide offering the lowest rate and Farmers the highest.

Comparing quotes from multiple insurers is essential to finding the best deal, and opting for higher deductibles can lower monthly costs. Additionally, maintaining a clean driving record and a good credit score can help reduce insurance premiums.

Frequently Asked Questions

Does insurance for a Tesla Model S or Model X cost less?

For the 2025 model year, the average cost of auto insurance for a Tesla Model X is $2,466 compared to $3,052 for a Model S. This means that the Model X will cost $586 less annually than the Model S.

What company has the cheapest car insurance for a Tesla Model S?

At an average cost of $1,883 annually, Nationwide provides the most affordable full coverage insurance for a Tesla Model S. State Farm, with an average yearly premium of $491, is the most economical provider of minimal coverage at the same time.

What company offers the best car insurance for a Tesla Model S?

When it comes to Tesla Model S auto insurance, State Farm outperforms other top providers like Nationwide. State Farm offers affordable prices along with excellent customer service.

INSURANCE AGENT EXPERTS

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Wilson Mathew Nechikat

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Auto Insurance Data Methodology

The auto insurance rates published in this guide are based on the results of research completed by Way.com’s data team. Using a mix of public and internal data, we analyzed millions of rate averages across U.S. ZIP codes.

Quotes are typically based on a full coverage policy average unless otherwise noted within the content.

These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes will differ. Given this, it’s important to go through our insurance steps form to find how much you can save with way.com



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