Tesla Model Y insurance costs average $123 monthly for minimum coverage and $241 per month for full coverage. Depending on your particular trim and model year, costs can range from $104 to $380 for Tesla Model Y monthly.
Tesla Model Y Insurance Cost
Updated: September 26, 2025
Key Takeaways
Tesla Model Y insurance costs range from $104 to $380 monthly depending on model year and coverage type.
The Model Y ranks 647th out of 827 vehicles for insurance affordability in the US vehicle market.
UAIC offers the most affordable Tesla Model Y full coverage at $196 monthly, while GEICO provides the cheapest minimum coverage at $107 monthly.
How Much Is Tesla Model Y Insurance?
| Tesla Model Y | $123 | $241 |
Tesla Model Y Insurance Cost by Model Year
Your Tesla Model Y's model year and available trims directly affect insurance rates, with newer vehicles costing more due to higher fair value. Monthly insurance costs for Tesla Model Y range from $109 for older models to $380 for the newest years.
| 2026 | $195 | $380 |
| 2025 | $143 | $279 |
| 2024 | $122 | $237 |
| 2023 | $110 | $214 |
| 2022 | $121 | $236 |
| 2021 | $112 | $219 |
| 2020 | $109 | $214 |
Tesla Model Y Insurance Cost by Trim
Your Tesla Model Y's trim affects insurance costs based on features, market value and desirability. Our research shows monthly premiums range from $104 for basic trims to $380 for premium variants like the Launch Series Long Range.
| Standard Range Sport Utility 4d | $104 | $202 |
| Standard Sport Utility 4d | $107 | $208 |
| Long Range Sport Utility 4d | $113 | $220 |
| Model Y | $116 | $227 |
| Performance Sport Utility 4d | $117 | $227 |
| Model Y Long Range | $119 | $232 |
| Model Y Performance | $130 | $253 |
| Long Range | $133 | $259 |
| Performance | $153 | $299 |
| Launch Series Long Range | $195 | $380 |
Compare Personalized Tesla Model Y Insurance Costs
We've broken down Tesla Model Y insurance costs by model year and trim for personalized rates.
Data filtered by:Results filtered by:
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Model Year:2020
Select
Trim:Performance Sport Utility 4d
| Performance Sport Utility 4d | $108 | $211 |
Tesla Model Y Insurance Cost by Company
Tesla Model Y insurance costs vary by provider from $122 to $407 monthly. Minimum coverage ranges from $55 to $163, while full coverage costs $122 to $407. Rates vary due to different risk assessment models.
| AAA | $142 | $295 |
| AIG | $163 | $407 |
| Allstate | $133 | $259 |
| Amica | $152 | $313 |
| Chubb | $151 | $304 |
| Farmers | $198 | $349 |
| GEICO | $107 | $232 |
| Kemper | $121 | $249 |
| Nationwide | $119 | $206 |
| Progressive | $127 | $240 |
| State Farm | $110 | $231 |
| The Hartford | $175 | $298 |
| Travelers | $112 | $207 |
| UAIC | $156 | $196 |
Tesla Model Y Insurance Cost by State
Tesla Model Y car insurance costs vary by state, ranging from $52 monthly in Wyoming to $230 monthly in Louisiana.
| Alabama | $113 | $215 |
| Alaska | $88 | $186 |
| Arizona | $150 | $280 |
| Arkansas | $108 | $242 |
| California | $119 | $240 |
| Colorado | $115 | $278 |
| Connecticut | $159 | $273 |
| Delaware | $154 | $258 |
| Florida | $134 | $316 |
| Georgia | $163 | $273 |
| Hawaii | $62 | $141 |
| Idaho | $64 | $132 |
| Illinois | $117 | $221 |
| Indiana | $80 | $157 |
| Iowa | $77 | $186 |
| Kansas | $94 | $220 |
| Kentucky | $143 | $244 |
| Louisiana | $230 | $481 |
| Maine | $67 | $139 |
| Maryland | $179 | $304 |
| Massachusetts | $123 | $263 |
| Michigan | $194 | $372 |
| Minnesota | $105 | $219 |
| Mississippi | $127 | $248 |
| Missouri | $164 | $323 |
| Montana | $103 | $248 |
| Nebraska | $92 | $211 |
| Nevada | $191 | $348 |
| New Hampshire | $90 | $161 |
| New Jersey | $196 | $327 |
| New Mexico | $98 | $220 |
| New York | $142 | $254 |
| North Carolina | $96 | $189 |
| North Dakota | $79 | $174 |
| Ohio | $94 | $183 |
| Oklahoma | $116 | $258 |
| Oregon | $127 | $221 |
| Pennsylvania | $117 | $273 |
| Rhode Island | $153 | $275 |
| South Carolina | $115 | $216 |
| South Dakota | $74 | $228 |
| Tennessee | $99 | $200 |
| Texas | $146 | $297 |
| Utah | $121 | $207 |
| Vermont | $64 | $150 |
| Virginia | $116 | $187 |
| Washington | $106 | $198 |
| West Virginia | $114 | $229 |
| Wisconsin | $85 | $189 |
| Wyoming | $52 | $161 |
Tesla Model Y Insurance Cost by Driver Profile
Your driving profile, especially age and driving record, affects Tesla Model Y insurance costs. Young drivers under 25 face the steepest rates at $466 monthly, while adults between 26-64 enjoy the most affordable coverage at just $182 per month.
| Adult Drivers | $123 | $241 |
| Young Drivers | $318 | $613 |
| Senior Drivers | $165 | $304 |
| Drivers With a Speeding Ticket | $154 | $303 |
| Drivers With an Accident | $182 | $353 |
| Drivers With a DUI | $230 | $443 |
| Drivers With Bad Credit | $300 | $605 |
Is a Tesla Model Y Expensive to Insure?
You might be concerned about Tesla insurance costs given the vehicle's luxury status. Compared to the rest of the models on the U.S. market, a Tesla Model Y ranks 647th out of 827, making it one of the more expensive cars to insure. Among compact luxury SUVs or crossover SUVs, the model ranks 14th out of 18.
| Acura TSX | $74 | $142 |
| Alfa Romeo Tonale | $82 | $161 |
| Acura RDX | $88 | $170 |
| Infiniti QX70 | $88 | $170 |
| Volvo XC60 | $90 | $176 |
| Volvo XC40 Recharge | $102 | $198 |
| Lexus NX | $102 | $198 |
| Genesis GV60 | $106 | $207 |
| Volvo XC40 | $107 | $207 |
| Volvo C40 Recharge | $109 | $212 |
| Infiniti QX55 | $112 | $218 |
| Mercedes EQB | $119 | $234 |
| Jaguar I-Pace | $121 | $237 |
| Bmw X4 | $124 | $241 |
| Tesla Model Y | $123 | $241 |
| Lincoln Corsair | $134 | $262 |
| Polestar 4 | $140 | $272 |
| Maserati Grecale | $159 | $309 |
Factors That Affect Tesla Car Insurance Costs
Several factors influence what you'll pay for Tesla Model Y insurance coverage:
- Age (median 48 years): Middle-aged drivers receive lower rates than younger buyers.
- Gender (73% male): Male ownership correlates with higher risk-taking behaviors.
- Income ($145,909 average): Higher credit scores reduce premiums, though wealth enables riskier vehicle purchases.
Average Repair or Replacement Costs
Tesla ranks 22nd in repair affordability among 59 U.S. automakers with median annual costs of $1,034. Tesla Model Y repair costs average $985 annually, making it one of Tesla's most affordable models to repair while still contributing to higher insurance premiums.
Vehicle Trim, Features and Accessories
The Tesla Model Y's performance capabilities (0-60 mph in 3.5 to 4.8 seconds depending on trim) increase insurance premiums. Performance trims feature 21-inch Uberturbine wheels, lowered suspension and upgraded brakes, while Long Range models offer 19-inch or 20-inch wheel options.
Higher trim levels like Performance AWD cost more to insure due to advanced features, specialized parts and higher replacement values.
Fuel Type
Tesla Model Y costs more to insure because it runs on batteries instead of gas. When something breaks, you can't just take it to any mechanic. You need someone who knows electric cars.
Not many shops can work on Teslas yet. The ones that do charge more because they need special tools and training. Plus, Tesla parts cost more than regular car parts. Insurance companies know this, so they charge Tesla owners higher rates to cover these expensive repairs.
Location
Tesla Model Y owners are concentrated in California and wealthy ZIP codes (55% in the top 10% wealthiest areas), where regional rates vary. Location affects rates through state regulations, weather risks, crime rates and accident statistics.
California accounts for 35% of all Tesla sales nationwide, with the Model Y ranking as the best-selling vehicle in the state. Following California, the highest concentrations appear in Florida, Massachusetts, New York and New Jersey, where premium costs reflect higher regional repair expenses.
Driver Profile
Most Tesla Model Y drivers are middle-aged (median age 48) males with incomes of $145,909 to $152,912. This demographic receives moderate rates due to higher credit scores, though Tesla owners have higher accident rates than average drivers.
Driver demographics affect Tesla Model Y rates:
Despite favorable owner demographics, Tesla's 0 to 60 acceleration capability and performance-oriented buyer profile contribute to elevated insurance costs.
Cheapest Tesla Model Y Insurance Companies
When shopping for Model Y insurance, UAIC offers the most affordable full coverage at $196 monthly. For drivers seeking basic minimum coverage for their Model Y, GEICO stands out with the lowest rates at $107 per month.
| Travelers | $112 | $207 |
| Nationwide | $119 | $206 |
| GEICO | $107 | $232 |
| State Farm | $110 | $231 |
| UAIC | $156 | $196 |
Cheapest Tesla Model Y Insurance by State
We found that these are the top three most affordable car insurance providers for a Tesla Model Y:
- Travelers: Offers the cheapest rates in nine states
- American National: Wins for affordability in four states
- Auto-Owners: Also provides the lowest costs in four states
You can filter below to see which company offers the most affordable auto insurance rates for your Tesla Model Y.
Data filtered by:Results filtered by:
Select
State:Alabama
| Alabama | Country Financial | $90 |
How to Get the Best Cheap Tesla Model Y Insurance
Below we detail the top Tesla Model Y car insurance discounts available:
- 1
Choose the right coverage
Three things matter when choosing how much coverage to buy: what your Tesla's worth, how much you drive and what you can afford to spend:
Tight budget (you own the car):
- Your state's minimum liability requirements
- Add comprehensive and collision with a $1,000 deductible
Want better protection (you own the car):
- 100/300/100 liability coverage
- Comprehensive and collision with a $500 deductible
Financing or leasing:
- 100/300/100 liability coverage
- Comprehensive and collision with a $500 deductible
- Gap insurance (most lenders require this)
*Coverage Limits Explained (100/300/100):
- $100,000 bodily injury per person
- $300,000 bodily injury per accident
- $100,000 property damage coverage
- 2
Research costs and cheap companies
Researching average auto insurance costs for your car will let you know how much you're saving currently and with another provider. Then you can look for the cheapest car insurance companies.
- 3
Look for more than just low rates
To get the most balanced car insurance for your Tesla Model Y, check forum reviews, J.D. Power customer satisfaction scores, Better Business Bureau complaint records and AM Best financial strength ratings while comparing coverage limits and deductibles.
Some low-cost insurers have slower claim processing times or limited coverage options that can leave you underinsured in an accident.
- 4
Explore discounts you qualify for
Finding car insurance discounts you'll likely qualify for will go a long way in ensuring you get the cheapest rate possible. The five discounts below are the most likely we found that Tesla Model Y owners will qualify for:
- Multi-Car/Multi-Vehicle Discount (12% to 25% savings): Tesla Model Y drivers pay an average of $2,054 per year for full coverage, making multi-car discounts crucial for managing costs. Model Y owners' affluent profile often means multiple vehicles in the household, qualifying for substantial savings from virtually all insurers.
- Bundling/Multi-Policy Discount (5% to 25% savings): With the Model Y being the world's best-selling vehicle in 2023, many owners are homeowners who can bundle auto and homeowners insurance for savings from major carriers. This mature buyer profile makes bundling opportunities common.
- Good Driver/Safe Driver Discount (5% to 30% savings): Model Y owners typically fall into the mature driver category with clean driving records that qualify them for the largest available discounts. Maintaining accident-free status is essential given the Model Y's higher-than-average insurance costs.
- Safety Features Discount (5% to 23% savings): The Tesla Model Y was awarded a 2024 Top Safety Pick+ by the Insurance Institute for Highway Safety and received a 5-star NHTSA rating. Standard features like automatic emergency braking and collision avoidance help you avoid crashes, earning discounts on medical-related coverage.
- Electric Vehicle (EV) Discount (5% to 10% savings): A growing number of insurers offer EV-specific discounts for environmentally conscious Model Y drivers. Though availability remains limited compared to other discount types, these green vehicle incentives can help offset the Model Y's higher repair costs and specialized parts expenses.
- 5
Consider alternative car insurance types
Tesla Model Y owners should consider Tesla's Insurance program (where available) for vehicle-specific coverage and competitive rates, or usage-based insurance or programs like Progressive Snapshot that reward safe driving habits with lower premiums.
- 6
Check rates every year
Comparing car insurance quotes from multiple sources can cut your Tesla Model Y insurance by up to 24%. Your best deal today might not exist next year, so make comparing rates an annual habit.
Tesla Model Y Insurance Cost: Bottom Line
Insuring a Tesla Model Y costs more than average, but you can still find rates to fit your budget. Shop multiple companies, look into discounts and consider different coverage options to get the best insurance rate for your car.
Tesla Model Y Insurance Rates: FAQ
Here are answers to common questions about insuring a Tesla Model Y.
What is the average cost of car insurance for a Tesla Model Y?
The Tesla Model Y's average annual insurance cost is $1,479 annually for state minimum and $2,887 for full coverage.
What company has the cheapest car insurance for a Tesla Model Y?
GEICO offers the cheapest minimum coverage auto insurance for a Tesla Model Y, with an annual minimum coverage rate of $1,284. For those looking for full coverage policies, UAIC is the most cost-effective option at $2,352 per year.
Are Tesla Model Ys expensive to insure?
Yes, Tesla Model Y insurance costs more than most cars. Out of 827 vehicles we track, the Model Y ranks 647th for affordability. Among compact luxury crossover SUVs, this model sits at 14th out of 18.
What factors affect insurance costs for Tesla Model Ys?
Several things drive up your Tesla Model Y rates. Repairs cost more because of specialized parts and the aluminum body. Your driving record and credit score, plus the coverage you pick, play a big role. Where you live affects rates, too. Areas with more theft or fewer Tesla-certified repair shops cost more.
The good news? Some insurers offer discounts on Tesla's safety tech, such as Autopilot.
How can I lower Tesla Model Y insurance costs?
Shop around with multiple insurers as rates vary for Teslas, and consider usage-based insurance programs that track your driving habits. Take advantage of Tesla's safety features (Autopilot, collision avoidance) when discussing discounts, bundle with other policies and maintain a clean driving record to qualify for the lowest premiums.
How We Determined Tesla Model Y Insurance Costs
We studied hundreds of millions of quote estimates across all U.S. models sold in the U.S. from 2000 to 2025 to get you the most accurate Tesla Model Y insurance costs.
Who We Based These Rates On
These Tesla Model Y prices reflect what a typical driver pays:
- Age 40, unmarried male
- Clean record: no tickets or crashes
- Credit score in a good range
- Has never made an insurance claim
- Puts about 12,000 miles on the odometer yearly
- Has a valid driver's license with no suspensions on record
Coverage Definitions:
- Minimum Coverage: State-required liability limits
- Full Coverage: 100/300/100 liability + comprehensive/collision with $1,000 deductibles
About Mark Fitzpatrick
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.