How Much Is Tesla Insurance?

Tesla, the electric car manufacturer, has been taking the automotive world by storm for years now. With new models and features constantly being released, it’s no surprise that people are curious about how much it would cost to insure one of these vehicles. In this article, we will take a closer look at Tesla insurance and answer some frequently asked questions.

What Factors Affect Tesla Insurance Prices?

Insurance prices for Tesla vehicles vary based on several factors:

The model of Tesla you own will impact the price of your insurance. Higher-end models like the Model S and Model X typically have higher insurance rates than the more affordable Model 3.
Where you live can also impact your insurance rates. Tesla owners in areas with higher population densities or higher rates of car theft may face higher insurance costs.
Driving Record
Your driving record is one of the most significant factors when determining insurance rates. Drivers with clean records usually pay less for insurance.
Credit Score
Your credit score can also play a role in determining your insurance premium. People with higher credit scores often pay lower premiums.

It’s important to keep these factors in mind when shopping for Tesla insurance coverage.

How Much Does Tesla Insurance Typically Cost?

The cost of Tesla insurance varies based on the factors listed above. However, we can provide you with an idea of what to expect based on some sample rates:

Tesla Model
Insurance Cost
Model S
$1,200-$1,600 per year
Model X
$1,300-$1,700 per year
Model 3
$1,000-$1,300 per year

Keep in mind that these are only estimates and your actual insurance costs could be higher or lower depending on your personal circumstances.

Are There Any Discounts Available?

Yes, there are several discounts available that can help reduce the cost of Tesla insurance:

  • Multi-car discounts if you insure multiple vehicles with the same insurance company
  • Good driver discounts if you have a clean driving record
  • Safety feature discounts if your Tesla has advanced safety features like autonomous driving capabilities

Be sure to ask your insurance provider about these and other available discounts to help lower your premium.

What Should I Look for When Shopping for Tesla Insurance?

When shopping for Tesla insurance, there are several things to consider:

  • Choose a reputable insurance provider that offers coverage in your area
  • Compare rates from multiple providers to ensure you are getting the best possible price
  • Look for discounts that can help lower your premium
  • Consider increasing your deductible to lower your premium
  • Read customer reviews to get an idea of the provider’s level of customer service

By taking these steps, you can find a Tesla insurance provider that offers the coverage you need at a price you can afford.


While the cost of Tesla insurance varies based on several factors, it is typically more expensive than insurance for traditional gas-powered vehicles. However, there are steps you can take to help lower your premium, such as choosing a reputable insurance provider, looking for discounts, and increasing your deductible. By doing your research and shopping around, you can find the right Tesla insurance plan for your needs.

Frequently Asked Questions

Is Tesla insurance more expensive than insurance for gas-powered vehicles?

Yes, Tesla insurance is typically more expensive than insurance for gas-powered vehicles due to the cost of repairing or replacing parts, as well as the higher cost of the vehicles themselves.

Can I get discounts on Tesla insurance?

Yes, there are several discounts available, including multi-car discounts, good driver discounts, and safety feature discounts.

What should I look for when shopping for Tesla insurance?

When shopping for Tesla insurance, be sure to choose a reputable provider, compare rates, look for discounts, increase your deductible, and read customer reviews to ensure you are getting the best possible coverage.

What factors impact the cost of Tesla insurance?

The cost of Tesla insurance is impacted by several factors, including the model of the vehicle, your location, your driving record, and your credit score.

How can I lower the cost of my Tesla insurance?

You can lower the cost of your Tesla insurance by choosing a reputable provider, looking for discounts, increasing your deductible, and maintaining a clean driving record.