Tesla Car Insurance Cost


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Key Takeaways

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Tesla auto insurance costs range from $599 to $3,365 annually, depending on various factors.

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Tesla car insurance is generally more expensive than most top automotive brands, ranking 22nd out of 23 automakers we studied.

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Rates reflect costs from traditional insurers, but Tesla also offers its own insurance plans in 12 states.

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How Much Is Tesla Insurance on Average?

Teslas cost around $55 monthly for minimum coverage car insurance and $214 for full coverage. The automaker is the second most expensive overall, ranking 22nd out of 23 for affordability among the manufacturers we studied.

Coverage Level
Average Monthly Rate
Average Annual Rate
Affordability Ranking (Out of 23)

Minimum Coverage

$55

$663

22nd

Full Coverage

$241

$2,571

22nd

*Rates are for a 40-year-old driver with good credit and no driving violations.

Tesla Car Insurance Cost by Model and Year

A good rule of thumb is that more expensive your car's value is and the newer it is, the more car insurance will cost and vice versa. Through our research, we found the most expensive Tesla model is the Tesla Model S and the least expensive to insure is the Tesla Model 3. Below, you can compare costs for your Tesla vehicle by model and year.

Data filtered by:Results filtered by:
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Tesla Model:Tesla Model 3
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Model Year:2022
Tesla Model 32022$604$2,086

*Rates are for a 40-year-old driver with good credit and no driving violations.

Learn more about costs specific to Tesla models:

Tesla Car Insurance Cost by Age

In general, teens pay the most for car insurance and costs decrease until you are about 60 years old. Once you pass this point, auto insurance increases in cost slightly as you reach more senior ages. In the table below, we show how age affects costs for Tesla insurance.

Data filtered by:Results filtered by:
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Age:40
40$740$2,566

*Rates are for a driver with good credit and no driving violations.

Why Is Tesla Insurance So Expensive?

Tesla vehicles often have higher insurance premiums due to their high value and costly parts, which make repairs or replacements more expensive after an accident. Tesla drivers are also some of the riskiest on the road, placing second in a recent LendingTree study, which impacts rates even for those without driving violations.

What Does Tesla’s Insurance Program Cost?

Tesla’s insurance program bases rates primarily on driving behavior, leading to personalized and variable costs. Many drivers on forums reported lower rates than traditional provider quotes, though urban drivers often faced higher premiums. In California, where telematics isn't used to determine rates, Tesla insurance is frequently the most affordable option for drivers in the state.

Tesla Auto Insurance Cost: Bottom Line

Tesla vehicle insurance costs are among the highest in the U.S., well above average compared to other brands. However, affordable options are available. Compare providers across multiple platforms to find the best deal.

How We Determined Tesla Auto Insurance Costs

We calculated Tesla insurance costs using data from Quadrant Information Services. Rates are based on the following driver profile:

  • 40-years-old
  • Good credit
  • No driving violations
  • 12,000 miles driven annually

Coverages used for minimum coverage are based on state requirements. Full coverage includes a 100/300/100 liability insurance split and comprehensive and collision coverage with a $1,000 deductible.

About Mark Fitzpatrick


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Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.

Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!

Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.