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
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.
Minimum coverage rates vary by more than $91 across insurers and full coverage by more than $211. Each company prices Model Y risk differently, so the same driver can get a very different quote depending on where they look.
| 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?
The Tesla Model Y ranks 192nd out of 256 SUVs for insurance affordability in MoneyGeek's analysis. 191 vehicles cost less to insure, putting it just above the Hummer H1 and just below the BMW X4. That SUV ranking doesn't capture the full picture.
SUVs cost more to insure than most vehicle types, and the Model Y's 647th-place ranking out of 827 vehicles puts it firmly in that expensive tier. The Isuzu Amigo is the most affordable SUV to insure, and the Audi SQ8 e-tron carries 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: At $985 a year, the Model Y ranks second cheapest to maintain among Tesla's six models.
- Vehicle Trim, Features and Accessories: The Model Y produces 384 to 456 horsepower and reaches 60 mph in 3.5 seconds. Those performance figures push premiums up because they correlate with higher repair costs and accident risk.
- Driver Profile: Most Model Y drivers are 30 to 45 years old, with a median age of 36. The vehicle's performance profile draws higher-risk driving behavior, which insurers factor into rates.
Tesla Model Y Insurance Cost by State
Minimum coverage for the Model Y costs $52 a month in Wyoming and $230 in Louisiana. That $178 gap comes from each state's risk profile and regulations, not the vehicle.
| 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
Full coverage on a 2020 Model Y costs $229 a month for drivers aged 35 to 55. A 2026 model costs $429. Drivers in their teens and early twenties pay well above both figures regardless of model year.
National General offers the cheapest rates across all Tesla Model Y model years.
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 |
Does Upgrading Your Trim Increase Tesla Model Y Insurance Costs?
Model Y insurance costs climb steadily through the standard trims, but the jumps are manageable up to a point. The Long Range and Performance trims start at nearly the same monthly rate — around $220–227 — but Performance can run up to $40 more per month depending on the variant, adding up to $480 a year for what may feel like a modest upgrade.
The real outlier is the Launch Series Long Range at $380 a month — that's $178 more than the base Standard Range, or $2,136 extra per year. For a vehicle already at the top of Tesla's price range, that's an insurance cost worth treating with serious consideration.
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
How much coverage you need depends on whether you own, finance or lease. If you own, pair state minimum liability with comprehensive and collision at a $1,000 deductible. For more protection, go to 100/300/100 liability with a $500 deductible. If you're financing or leasing, you'll need 100/300/100 liability, comprehensive and collision at a $500 deductible and gap insurance.
- 2Research costs and cheap companies
Check average auto insurance costs for luxury electric vehicles before you shop so you know what a fair rate looks like. Use that number to evaluate the cheapest car insurance companies for your area.
- 3Look beyond the rate
Rate alone won't tell you whether a car insurance company is worth choosing. Check J.D. Power satisfaction scores, Better Business Bureau complaints and AM Best financial ratings. Budget insurers sometimes cut corners on coverage limits and service, which shows up when you file a claim.
- 4Check every discount you qualify for
Model Y owners are likely to qualify for several car insurance discounts: safety features, good driver, bundling and low mileage. EV discounts are increasingly common and worth asking about specifically.
- 5Look at usage-based programs
Usage-based programs such as Progressive Snapshot and Allstate Drivewise track driving behavior and lower premiums for safe drivers. They're worth exploring if you use your Model Y mostly for short commutes or weekend trips.
- 6Check rates every year
Pull car insurance quotes from several companies each year. Your insurer won't tell you when a competitor drops prices, but shopping annually can save up to 24% on Model Y coverage.
Tesla Model Y Insurance Cost: Bottom Line
The Model Y costs more to insure than most vehicles, but the gap between insurers is wide enough that shopping around and stacking discounts can bring your rate down.
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. The Model Y ranks 192nd out of 256 SUVs for insurance affordability and 647th out of 827 vehicles across all types MoneyGeek tracks.
What factors affect insurance costs for Tesla Model Ys?
EV parts and advanced technology make repairs expensive, which pushes premiums up. Safety features pull rates in the other direction by reducing accident risk. Your driving record, credit score and coverage level all affect the final number.
How can I lower Tesla Model Y insurance costs?
Get quotes from several insurers. Model Y rates vary enough between companies that shopping around makes a real difference. Stack every discount you qualify for, bundle policies where you can and keep your record clean.
How We Determined Tesla Model Y Insurance Costs
MoneyGeek analyzed hundreds of millions of quote estimates for U.S. vehicle models from 2000 to 2025 to determine Tesla Model Y insurance costs.
Who We Based These Rates On
Tesla Model Y rates in this analysis are based on a 40-year-old unmarried man with:
- No tickets or crashes
- Good credit
- No prior claims
- 12,000 miles driven yearly
- A valid license with no suspensions
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 (P&C) Insurance Producer in Connecticut, is MoneyGeek's resident insurance expert. He has analyzed the insurance market for almost a decade, first with LendingTree and now with MoneyGeek, conducting original research on hundreds of insurance companies and millions of insurance rates for insurance shoppers.
He writes about economics and insurance on MoneyGeek, breaking down complex topics so people can have confidence in their purchase. Like all MoneyGeek analysts, Mark collects and analyzes independent cost and consumer experience data on insurance companies to provide objective recommendations in our content that are independent of any of MoneyGeek's insurance company partnerships.
His insights on products ranging from car, home and renters insurance to health and life insurance have been featured in The Washington Post, The New York Times and NPR, among others.
Mark holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He started his career working in financial risk management at State Street before transitioning to the analysis of the personal insurance market. He's also a five-time Jeopardy champion!