Tesla Model Y insurance costs change substantially based on model year, with newer vehicles being more expensive to insure. You'll pay monthly premiums ranging from $380 for 2026 models down to $104 for older Tesla Model Ys.
Tesla Model Y Insurance Cost
Updated: January 16, 2026
Key Takeaways
Tesla Model Y insurance costs an average of $241 monthly for full coverage and $123 for minimum coverage. Rates vary by model year and insurer, with National General offering the lowest average rates at $240 monthly for full coverage on 2025 models. Read more
The Model Y ranks 192nd out of 256 SUVs for insurance affordability, placing it in the more expensive half of its vehicle class. Read more
Electric SUVs cost significantly more to insure than conventional vehicles, making the Model Y expensive overall. Among all 827 vehicles analyzed, it ranks 647th, confirming its position as a pricier model to cover. Read more
How Much Is Tesla Model Y Insurance?
Looking for another Tesla model? Read more about the cost of Tesla car insurance models.
Insurance rates depend on model year and insurer. Tesla Model Y minimum coverage costs range from $107 monthly with GEICO to $198 with Farmers, while full coverage ranges from $196 monthly with UAIC to $407 with AIG.
Rate variations exceeding $91 for minimum coverage and $211 for full coverage demonstrate why Model Y owners need to shop around. Companies calculate risk differently for each model, affecting your final quote.
| 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 |
Is Tesla Model Y Expensive to Insure?
MoneyGeek's analysis of 256 SUVs reveals the Tesla Model Y ranks 192nd for insurance affordability, with 191 vehicles costing less to insure. It's positioned between the slightly cheaper Hummer H1 and the marginally pricier BMW X4, making it middle-of-the-pack among SUVs. This moderate ranking within its vehicle class doesn't tell the complete story.
SUVs are expensive to insure overall, and the Model Y's 647th position out of 827 total vehicles confirms it's among the pricier models to cover. By comparison, the Isuzu Amigo claims the most affordable SUV spot while the Audi SQ8 e-tron commands the highest premiums.
| Audi SQ7 | $179 | 189 |
| Mercedes EQE | $180 | 190 |
| Hummer H1 | $181 | 191 |
| Tesla Model Y | $182 | 192 |
| BMW X4 | $182 | 193 |
| Mercedes GLS | $183 | 194 |
| Jeep Wrangler 4xe | $183 | 195 |
Several factors affect what you'll pay for Tesla Model Y insurance:
- Average Repair or Replacement Costs: Tesla Model Y repair costs average $985 annually, ranking as Tesla's second most affordable model to maintain out of six total models in the lineup.
- Vehicle Trim, Features and Accessories: With horsepower ranging from 384 to 456 and 0-60 mph acceleration in just 3.5 seconds, the Model Y's performance capabilities directly impact insurance premiums due to higher repair costs and increased risk.
- Driver Profile:Â Most Tesla Model Y drivers fall between 30 and 45 years old, with a median age of 36, though the vehicle's performance reputation attracts risk-taking behaviors that concern insurers. Read more about the costs of Tesla Model Ys for young drivers.
Tesla Model Y Insurance Cost by State
Tesla Model Y insurance costs range from $52 monthly in Wyoming to $230 in Louisiana for minimum coverage, depending on where you're located. These dramatic differences reflect your state's risk characteristics and insurance regulations rather than anything specific about the vehicle itself.
| 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 Costs by Model Year and Insurance Company
A 2020 Tesla Model Y costs just $229 monthly to insure for drivers aged 35 to 55, while a 2026 model jumps to $429 per month for full coverage. Model year and driver age both impact your Tesla Model Y insurance costs. Young drivers in their teens and early twenties will pay much more to insure any model year.
National General offers the cheapest rates across all Tesla Model Y model years. Â
Cost of Car Insurance for 2025 Tesla Model Y
| National General | $117 | $240 |
| Geico | $124 | $270 |
| State Farm | $127 | $265 |
| Travelers | $130 | $241 |
| Nationwide | $132 | $229 |
| Kemper | $132 | $271 |
| Progressive | $143 | $268 |
| Allstate | $155 | $301 |
| AAA | $167 | $347 |
| UAIC | $179 | $225 |
| Chubb | $181 | $364 |
| Amica | $181 | $373 |
| AIG | $191 | $478 |
| Farmers | $237 | $418 |
| The Hartford | $247 | $422 |
Cost of Car Insurance for 2024 Tesla Model Y
| National General | $100 | $205 |
| Geico | $106 | $230 |
| State Farm | $108 | $226 |
| Travelers | $111 | $205 |
| Nationwide | $112 | $195 |
| Kemper | $113 | $231 |
| Progressive | $122 | $229 |
| Allstate | $132 | $256 |
| AAA | $143 | $296 |
| UAIC | $152 | $191 |
| Chubb | $154 | $310 |
| Amica | $155 | $318 |
| AIG | $162 | $407 |
| Farmers | $202 | $356 |
| The Hartford | $211 | $360 |
Cost of Car Insurance for 2023 Tesla Model Y
| National General | $90 | $185 |
| Geico | $95 | $208 |
| State Farm | $98 | $204 |
| Travelers | $100 | $185 |
| Nationwide | $101 | $176 |
| Kemper | $102 | $209 |
| Progressive | $110 | $206 |
| Allstate | $119 | $231 |
| AAA | $129 | $267 |
| UAIC | $137 | $173 |
| Chubb | $139 | $280 |
| Amica | $139 | $287 |
| AIG | $147 | $367 |
| Farmers | $182 | $322 |
| The Hartford | $190 | $324 |
Cost of Car Insurance for 2022 Tesla Model Y
| National General | $91 | $186 |
| Geico | $104 | $226 |
| Travelers | $109 | $200 |
| State Farm | $109 | $228 |
| The Hartford | $116 | $197 |
| Nationwide | $123 | $214 |
| Kemper | $128 | $265 |
| Allstate | $130 | $253 |
| Progressive | $131 | $246 |
| AAA | $137 | $283 |
| Chubb | $141 | $283 |
| Amica | $143 | $293 |
| UAIC | $155 | $194 |
| AIG | $157 | $390 |
| Farmers | $184 | $325 |
Cost of Car Insurance for 2021 Tesla Model Y
| National General | $84 | $173 |
| Geico | $97 | $211 |
| Travelers | $101 | $186 |
| State Farm | $102 | $213 |
| The Hartford | $108 | $184 |
| Nationwide | $115 | $199 |
| Kemper | $119 | $246 |
| Allstate | $121 | $235 |
| Progressive | $122 | $229 |
| AAA | $127 | $263 |
| Chubb | $131 | $263 |
| Amica | $133 | $273 |
| UAIC | $144 | $181 |
| AIG | $146 | $363 |
| Farmers | $171 | $303 |
Cost of Car Insurance for 2020 Tesla Model Y
| National General | $82 | $169 |
| Geico | $94 | $205 |
| Travelers | $99 | $181 |
| State Farm | $99 | $207 |
| The Hartford | $105 | $179 |
| Nationwide | $112 | $194 |
| Kemper | $116 | $240 |
| Allstate | $118 | $229 |
| Progressive | $118 | $223 |
| AAA | $124 | $256 |
| Chubb | $128 | $256 |
| Amica | $129 | $266 |
| UAIC | $140 | $176 |
| AIG | $142 | $353 |
| Farmers | $167 | $295 |
Tesla Model Y Insurance Cost by Trim
Tesla Model Y insurance costs range from $380 monthly for full coverage on Launch Series Long Range variants down to $104 for minimum coverage on Standard Range Sport Utility 4d models. Performance features and market value drive these significant differences between trim levels.
| 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 |
How to Lower the Cost of Tesla Model Y Insurance
Here are proven strategies to lower your Tesla Model Y insurance costs:
- 1Choose the right coverage
You'll need to figure out how much coverage to buy for your Tesla Model Y. Own your vehicle? Get state minimum liability plus comprehensive and collision with a $1,000 deductible to lower premiums. Want enhanced protection? Consider 100/300/100 liability with comprehensive and collision at a $500 deductible. Financing or leasing requires 100/300/100 liability limits, comprehensive and collision with a $500 deductible, plus gap insurance.
- 2Research costs and cheap companies
Learn what you should pay by reviewing average auto insurance costs for luxury electric vehicles. This benchmark assists with shopping for the cheapest car insurance companies offering competitive rates in tech-heavy areas like Silicon Valley where Tesla ownership is common.
- 3Look for more than just low rates
Finding quality car insurance means evaluating insurers beyond their quotes. Check J.D. Power satisfaction ratings, examine forum discussions about claims processing, review Better Business Bureau complaints and confirm AM Best financial stability. Budget options might offer limited coverage or slower service when you need repairs.
- 4Explore discounts you qualify for
Discover car insurance discounts that apply to your situation. Tesla Model Y owners often qualify for safety features discounts, good driver rewards, policy bundling savings and low mileage discounts. Electric vehicle discounts are becoming more common as insurers recognize the environmental benefits of Tesla ownership.
- 5Consider alternative car insurance types
Tesla Model Y owners could explore usage-based insurance programs like Progressive Snapshot or Allstate Drivewise. These options track safe driving habits and deliver premium reductions. Pay-per-mile insurance works well for Tesla owners who primarily use their vehicles for short commutes or weekend trips around metropolitan areas.
- 6Check rates every year
Obtain car insurance quotes from several companies annually. Insurers don't notify you when competitors lower their prices, so yearly comparisons could save up to 24% on your Tesla Model Y insurance. Rate changes happen frequently in competitive markets, making regular shopping essential for maintaining the lowest possible premiums.
Tesla Model Y Insurance Cost: Bottom Line
Tesla Model Y insurance runs above average in cost, but you can still secure decent rates. Compare quotes from multiple insurers and maximize available discounts to find competitive pricing for your coverage needs.
Tesla Model Y Insurance Rates: FAQ
What is the average cost of car insurance for a Tesla Model Y?
Tesla Model Y insurance averages $1,479 annually for minimum coverage and $2,887 for full coverage. These rates make it more affordable than many luxury electric vehicles.
What company has the cheapest car insurance for a Tesla Model Y?
GEICO provides the most affordable minimum coverage for a Tesla Model Y at $1,280 annually. Those seeking full coverage will find UAIC offers the best value at $2,349 per year.
Are Tesla Model Ys expensive to insure?
Yes, Tesla Model Y insurance costs more than most vehicles to insure. Among SUVs specifically, this model places 192nd out of 256 for affordability, while ranking 647th out of 827 across all vehicle types we track.
What factors affect insurance costs for Tesla Model Ys?
Multiple factors affect Tesla Model Y insurance costs. High repair expenses from specialized electric vehicle parts and advanced technology increase premiums, though sophisticated safety features help reduce accident risks. Your driving record, credit score, and chosen coverage levels impact your final rates.
How can I lower Tesla Model Y insurance costs?
Compare quotes from multiple insurers since Tesla Model Y pricing differs between companies, and explore usage-based programs that monitor your driving habits. Claim available discounts, bundle policies and maintain a clean driving record to secure better rates.
How We Determined Tesla Model Y Insurance Costs
We analyzed hundreds of millions of quote estimates for U.S. vehicle models from 2000 to 2025 to provide the most accurate Tesla Model Y insurance costs.
Who We Based These Rates On
These Tesla Model Y rates reflect what an average 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. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in 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!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.