Key Takeaways
The average annual Tesla Model Y auto insurance cost is higher than the national average for all vehicles. Since it falls on the expensive side, it's better to compare car insurance quotes from multiple companies to find the best deal. We'll walk you through the pricing, the factors that affect it, and everything else you need to know about Tesla insurance, so you stay fully informed.
The average annual Tesla Model Y car insurance cost is $2,116. The age and trim level of your car are some of the main factors that impact Tesla Model Y insurance rates. In addition, different insurers have dates that are distinct from those in the same model. So, you must thoroughly research before buying Tesla Model Y insurance to get cheap car insurance.
Don't worry! That's where our review on Tesla Model Y car insurance quotes can be a help. How much does a Tesla Model Y auto insurance cost? Which is the best insurance for Tesla Model Y? Continue reading to know more about Tesla Model Y and its insurance!
Tesla Model Y models are generally more expensive to insure, but the cost can vary depending on the trim level and usage. As a high-tech electric crossover with advanced safety features and a strong performance profile, the insurance rates tend to be on the higher side. Still, if you haven't made any aftermarket upgrades and the factory settings are unchanged, the premiums won't spike too much. Also, if you are using the vehicle for daily travel and your driving history is clear, then the rates will be reasonable compared to other EVs on the market.
The biggest challenge is always finding your car's most affordable insurance company. With an average annual rate of $1,662, Progressive offers the lowest Tesla Model Y car insurance rates. With yearly average rates of $1,849 and $2,139, USAA and State Farm are the next best options for buying a Tesla Model Y insurance. The following are the rates from some of the affordable insurers.
| Insurer | Average annual rates |
|---|---|
| Progressive | $1,662 |
| USAA | $1,849 |
| State Farm | $2,139 |
| Auto-Owners | $2,282 |
| Allstate | $4,419 |
Insurance providers assess both your driving profile and the specific features of your Tesla Model Y to determine the insurance cost. Several factors affect the calculation of the Tesla Model Y car insurance cost. Let's check out those points.
Vehicle Age & Trim: Newer Model Y trims, especially the Performance version with dual-motor AWD and faster acceleration, can cost more to insure due to higher repair expenses and the cost of Tesla-specific parts.
Usage Type: If the Model Y is used for daily long-distance commutes, frequent highway driving, or rideshare purposes, insurers may view it as a higher risk, possibly increasing premiums.
Location: Living in areas with heavy traffic, high rates of accidents, or frequent vehicle theft can drive up insurance rates for a Model Y.
Driver Profile: A clean driving history, good credit score, and few or no past claims can help lower your Tesla Model Y insurance costs significantly.
When comparing the Tesla Y insurance cost by model year, the older models cost less than the newer ones. For example, the 2022 model Tesla Model Y costs $2,179, while the 2020 model costs $2,090, which, of course, shows the difference in rates.
| Model Year | Full Coverage Rate (Updated) |
|---|---|
| 2022 | $2,179 |
| 2021 | $2,115 |
| 2020 | $2,090 |
The lowest Tesla Model Y car insurance premium is applicable for age groups between 55 to 60. New and young drivers aged between 16 and 20 pay the highest Tesla Model Y insurance costs due their inexperience as drivers.
| Age | Updated Full Coverage Rate |
|---|---|
| 16 | $9,064 |
| 17 | $7,418 |
| 18 | $6,574 |
| 19 | $4,686 |
| 20 | $4,279 |
| 21 | $3,464 |
| 22 | $3,196 |
| 23 | $2,990 |
| 24 | $2,846 |
| 25 | $2,535 |
| 26 | $2,488 |
| 27 | $2,434 |
| 28 | $2,396 |
| 29 | $2,363 |
| 30 | $2,268 |
| 35 | $2,182 |
| 40 | $2,128 |
| 45 | $2,090 |
| 50 | $2,020 |
| 55 | $1,954 |
| 60 | $1,948 |
| 65 | $2,014 |
| 70 | $2,145 |
| 75 | $2,350 |
| 80 | $2,594 |
| 85 | $2,779 |
| 90 | $2,911 |
Tesla Model Y auto insurance costs will vary depending on the trim and model you choose. The following are some extra factors that impact the cost of auto insurance for the Tesla Model Y.
Tesla cars have some features that could help you save money on auto insurance. However, some features may increase the Tesla Model Y auto insurance rate. These are a few features that impact the cost of Tesla Model Y insurance.
The carmaker is renowned for its safety features. Your car's excellent safety features may enable you to receive a Tesla Model Y insurance discount from your insurer. The Tesla Model Y comes with the following safety features.
Follow these tips to save money on your Tesla Model Y insurance.
Tesla Model Y car insurance costs are never inexpensive. So, as an owner, your challenge will be to find the most affordable insurance for your car. But, that will be a real pain as most insurers quote a high premium for Tesla Model Y insurance. It isn't easy to get quotes from individual insurers and decide on one!
How about getting quotes from all insurers simultaneously? Yes, you heard it right! That's here Way.com become your savior. Use our website or mobile app to get the most affordable Tesla Model Y auto insurance rates in your state or city. In addition, you can get quotes from several insurance companies by providing your ZIP Code.
Also, you can get the help of our insurance agents in your city. They can explain the state's most intricate insurance laws, terms, coverages, and discounts. Therefore, contact one of our agents if you're looking for the cheapest Tesla Model Y auto insurance quote.
A driver must pay around $2,116 yearly to buy Tesla Model Y insurance.
Yes. The coverage for the Tesla Model Y is high as it is an electric vehicle with significant maintenance costs. So, a driver must pay higher than Tesla Model Y car insurance costs.
On average, Tesla Model Y insurance costs $176 monthly.
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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