How Much Does Tesla Car Insurance Cost?
On average, it costs $350 per month to insure a Tesla, which adds up to about $4,197 per year.
We’ve saved shoppers an average of $600 per year on their car insurance.
The cost to insure a Tesla depends on various factors, including your age, driving record, and where you live car insurance Insurance companies use this information to determine the risk of insuring your Tesla and set your premium accordingly.
Insurance Cost Per Tesla Model
| Tesla Model | Average Yearly Insurance Cost |
| Tesla Model 3 | $2,965 |
| Tesla Model S | $4,615 |
| Tesla Model X | $4,780 |
| Tesla Model Y | $4,428 |
Keep in mind that these numbers are averages. Your actual cost may differ based on where you live, your age, your driving record, and the type of coverage you select.
Tesla Car Insurance Cost – By Company
| Insurance Provider | Average Monthly Premium |
| Tesla Insurance | $175 |
| State Farm | $222 |
| USAA | $240 |
| Nationwide | $310 |
| Average | $321 |
| Progressive | $495 |
| GEICO | $549 |
Tesla Car Insurance Cost – By U.S. State
| State | Average Annual Rate |
| Alabama | $4,453 |
| Alaska | $3,686 |
| Arizona | $4,162 |
| Arkansas | $4,556 |
| California | $5,071 |
| Colorado | $4,732 |
| Connecticut | $6,063 |
| Delaware | $5,018 |
| Florida | $5,961 |
| Hawaii | $1,932 |
| Idaho | $3,371 |
| Illinois | $3,527 |
| Indiana | $3,626 |
| Iowa | $2,887 |
| Kansas | $3,834 |
| Kentucky | $5,520 |
| Louisiana | $7,108 |
| Maine | $2,691 |
| Maryland | $4,350 |
| Massachusetts | $3,479 |
| Michigan | $8,410 |
| Minnesota | $3,468 |
| Mississippi | $4,182 |
| Missouri | $3,944 |
| Montana | $4,008 |
| Nebraska | $3,376 |
| Nevada | $5,586 |
| New Hampshire | $3,873 |
| New Jersey | $4,281 |
| New Mexico | $4,366 |
| New York | $4,049 |
| North Carolina | $2,514 |
| North Dakota | $3,428 |
| Ohio | $3,065 |
| Oklahoma | $4,876 |
| Oregon | $4,452 |
| Pennsylvania | $3,743 |
| Rhode Island | $6,262 |
| South Carolina | $4,242 |
| South Dakota | $3,819 |
| Tennessee | $4,474 |
| Texas | $4,512 |
| Utah | $3,837 |
| Vermont | $2,967 |
| Virginia | $2,781 |
| Washington | $3,674 |
| West Virginia | $3,704 |
| Wisconsin | $3,693 |
| Wyoming | $3,457 |
| Georgia | $4,867 |
How To Save Money On Tesla Car Insurance?
Owning a Tesla involves several costs, with car insurance being one of the largest. But you can still find ways to lower your insurance expenses. Here’s how:
1. Maintain a Clean Driving Record
Insurance companies consider your driving history very important when setting your premium. By staying accident-free and avoiding traffic tickets, you demonstrate to insurers that you’re a low-risk driver, which can lead to lower insurance costs.
2. Bundle Your Policies
Many insurance companies provide discounts if you bundle multiple policies, such as home and auto insurance. This makes it easier to manage your insurance and can also help you save money on your premiums.
3. Raise Your Deductible
Raising your deductible—the amount you pay before your insurance starts covering costs—can reduce your premium. Make sure you can afford the higher deductible if you need to file a claim.
4. Install Safety Features
Tesla vehicles have a lot of built-in safety features, but adding additional security measures, like anti-theft devices, can help lower your insurance costs by reducing the risk of theft and damage.
5. Take Advantage of Discounts
Insurance companies frequently offer discounts for things such as being a good student, maintaining a clean driving record, or taking a defensive driving course. Check with your insurer to find out which discounts you might be eligible for.
6. Shop Around
Insurance rates can differ significantly from one provider to another. Be sure to compare quotes and select the insurance company that gives you the best deal for what you need.
7. Consider Usage-Based Insurance
If you don’t drive your Tesla much, consider usage-based insurance. This policy adjusts your premium based on how often you drive, which could save you money if your Tesla isn’t your primary vehicle.
