If you’re planning to purchase a new vehicle, it’s important to include the car insurance cost in your overall budget.
The average cost of Tesla car insurance is $4,140 a year or $345 per month, based on a detailed analysis by CarInsurance.com. Your exact rates may vary based on factors such as your insurance company, vehicle model, age and driving history.
- The annual average nationwide cost of full coverage car insurance for Tesla is $4,140 per year.
- The Model 3 is the cheapest Tesla model to insure.
- Advanced safety features that come standard on Tesla models help lower your insurance costs.
Average cost of car insurance for a Tesla, by company
Car insurance premiums can vary widely based on the make of your vehicle. Insurance companies have their own methods for calculating the risk and the probability of claim filing. They consider various factors, including your driving history, location, age and the type of vehicle you own, to determine your auto insurance rates.
Below, you’ll find Tesla car insurance rates from various insurance companies.
Cost to insure a Tesla, by company
| Company | Annual rates | Six-month rates | Monthly rates |
|---|---|---|---|
| State Farm | $2,951 | $1,476 | $246 |
| Nationwide | $3,181 | $1,590 | $265 |
| Progressive | $4,006 | $2,003 | $334 |
| Geico | $4,158 | $2,079 | $346 |
| Farmers | $5,066 | $2,533 | $422 |
| Allstate | $5,536 | $2,768 | $461 |
Tesla average insurance rates, by model
Tesla Model 3 car insurance cost
Car insurance costs $289 per month or $3,466 a year on average for a Tesla Model 3, according to CarInsurance.com’s data study. Nationwide has the cheapest car insurance rates for Tesla Model 3 among the companies analyzed. Its average annual cost for a Tesla Model 3 is $2,505 or $209 per month.
Tesla Model Y car insurance cost
The average car insurance premium for Tesla Model Y is $294 per month, which translates to $3,529 per year. The most affordable company for a Tesla Model Y is Nationwide with a rate of $217 monthly or $2,599 per year.
Tesla Model X car insurance cost
For Tesla Model X owners, the average car insurance cost is $400 per month or $4,805 annually. State Farm offers the most affordable insurance premiums with an average annual cost of $3,057 or $255 per month.
Tesla Model S car insurance cost
The average car insurance premium for Tesla Model S is $423 per month, which translates to $5,074 per year. The most affordable company for a Tesla Model S is Nationwide with a rate of $223 monthly or $2,678 per year.
Insurance rates by car model
The average cost of car insurance for a Tesla, by age
The cost of Tesla car insurance can vary based on your age. Generally, young drivers face significantly higher premiums compared to those with more driving experience.
According to the Insurance Information Institute, young drivers made up only 5.1% of all licensed drivers in 2020 but accounted for 8.5% of all drivers involved in fatal crashes. Statistics clearly show that young drivers are involved in more accidents which result in claims. Teens also engage in more reckless behavior behind the wheel than older drivers, and that additional risk pushes up the cost of insurance.
Car insurance costs generally decrease as drivers gain more experience and avoid getting tickets and filing claims. However, when drivers turn 60, insurance rates tend to rise again. The tables below show Tesla insurance costs based on the driver’s age.
Cost to insure a Tesla, by model, for 18-year-olds
| Age | Make Model | Annual rates | Six-month rates | Monthly rates |
|---|---|---|---|---|
| 18 | Tesla Model 3 | $13,586 | $6,793 | $1,132 |
| 18 | Tesla Model S | $19,665 | $9,832 | $1,639 |
| 18 | Tesla Model X | $18,060 | $9,030 | $1,505 |
| 18 | Tesla Model Y | $13,516 | $6,758 | $1,126 |
Cost to insure a Tesla, by model, for 40-year-olds
| Age | Make Model | Annual rates | Six-month rates | Monthly rates |
|---|---|---|---|---|
| 40 | Tesla Model 3 | $3,466 | $1,733 | $289 |
| 40 | Tesla Model S | $5,074 | $2,537 | $423 |
| 40 | Tesla Model X | $4,805 | $2,403 | $400 |
| 40 | Tesla Model Y | $3,529 | $1,765 | $294 |
Tesla car insurance rates by state
When it comes to insuring your Tesla, your location can greatly affect your premiums. Rates vary significantly across states due to traffic conditions, accident rates, theft/vandalism, weather incidents and state laws. Below, you’ll find Tesla car insurance for all the states in the U.S.
| State | Annual rates | Six-month rates | Monthly rates |
|---|---|---|---|
| Alaska | $3,830 | $1,915 | $319 |
| Alabama | $3,852 | $1,926 | $321 |
| Arkansas | $4,948 | $2,474 | $412 |
| Arizona | $3,644 | $1,822 | $304 |
| California | $5,257 | $2,629 | $438 |
| Colorado | $5,108 | $2,554 | $426 |
| Connecticut | $4,445 | $2,223 | $370 |
| Washington, D.C. | $4,912 | $2,456 | $409 |
| Delaware | $4,279 | $2,139 | $357 |
| Florida | $4,035 | $2,017 | $336 |
| Georgia | $4,747 | $2,374 | $396 |
| Hawaii | $2,239 | $1,120 | $187 |
| Iowa | $4,012 | $2,006 | $334 |
| Idaho | $2,615 | $1,307 | $218 |
| Illinois | $3,851 | $1,925 | $321 |
| Indiana | $3,548 | $1,774 | $296 |
| Kansas | $4,526 | $2,263 | $377 |
| Kentucky | $5,355 | $2,677 | $446 |
| Louisiana | $6,606 | $3,303 | $550 |
| Massachusetts | $4,302 | $2,151 | $358 |
| Maryland | $4,291 | $2,145 | $358 |
| Maine | $3,032 | $1,516 | $253 |
| Michigan | $5,252 | $2,626 | $438 |
| Minnesota | $4,371 | $2,186 | $364 |
| Missouri | $5,394 | $2,697 | $450 |
| Mississippi | $4,905 | $2,453 | $409 |
| Montana | $4,807 | $2,403 | $401 |
| North Carolina | $2,905 | $1,453 | $242 |
| North Dakota | $3,556 | $1,778 | $296 |
| Nebraska | $4,467 | $2,233 | $372 |
| New Hampshire | $3,333 | $1,666 | $278 |
| New Jersey | $3,911 | $1,956 | $326 |
| New Mexico | $3,973 | $1,986 | $331 |
| Nevada | $3,731 | $1,866 | $311 |
| New York | $3,285 | $1,642 | $274 |
| Ohio | $2,798 | $1,399 | $233 |
| Oklahoma | $4,308 | $2,154 | $359 |
| Oregon | $3,533 | $1,767 | $294 |
| Pennsylvania | $4,388 | $2,194 | $366 |
| Rhode Island | $5,179 | $2,590 | $432 |
| South Carolina | $3,585 | $1,793 | $299 |
| South Dakota | $5,155 | $2,577 | $430 |
| Tennessee | $4,638 | $2,319 | $386 |
| Texas | $5,778 | $2,889 | $482 |
| Utah | $3,099 | $1,549 | $258 |
| Virginia | $2,752 | $1,376 | $229 |
| Vermont | $3,354 | $1,677 | $280 |
| Washington | $3,392 | $1,696 | $283 |
| Wisconsin | $3,439 | $1,719 | $287 |
| West Virginia | $3,841 | $1,920 | $320 |
| Wyoming | $5,164 | $2,582 | $430 |
Average car insurance cost for different vehicle makes
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To find affordable Tesla car insurance rates, you should opt for a family-friendly vehicle like a small SUV. These models usually include advanced safety features, have smaller engines and are driven by people with children in the car. This makes them more cautious drivers, leading to fewer accidents.
Airbags, backup cameras, automatic emergency braking and lane departure warning are all safety features that will help keep your insurance premium low. As in years past, minivans and compact to midsize SUVs topped our list of cheapest cars to insure this year.
Pickups and commercial vans also tend to be cheaper to insure than sedans and other vehicle types. They are usually cheaper to repair because the back end of the vehicle is just an empty bed, it doesn’t have seating or other expensive electrical and safety components. Cheaper repairs result in cheaper insurance.
Cheapest Tesla models to insure
Smaller, budget-friendly Tesla models with low-power engines are more affordable to insure than upscale or sporty versions. Entry-level base models have lower car insurance rates, but premiums increase as you move up to higher-level trims.
Family-friendly models equipped with various safety features can help keep your insurance premiums affordable. Advanced safety technologies like automatic emergency braking, backup cameras and blind spot detection often qualify for discounts.
“If you are a younger driver, you will probably pay more for auto insurance, so you may need to consider practicality versus style,” says Lauren McKenzie, senior agent with A Plus Insurance. “If you are younger and choose a fast, luxurious sports car, your monthly insurance payments could end up being more than your monthly auto loan payments.”
Most expensive Tesla models to insure
When it comes to insurance costs, luxury vehicles, sports cars and SUVs are often the most expensive. Sports cars and luxury models have higher rates because they’re more frequently targeted by thieves and have high repair costs. SUVs, especially the larger models, come with higher premiums due to their potential to cause more extensive damage in accidents.
If you’re planning to reduce your insurance expenses, try to avoid these types of vehicles:
- EVs: Electric vehicles (EVs) come with large, costly batteries, which can make them more expensive to insure. Battery packs can cost up to $20,000 to replace, so insurers factor this risk into your premium.
- Luxury and sports cars: Insurers view luxury and sports cars as higher risk due to their hefty price tags. With big engines and exclusive features, these vehicles are costly to repair or replace, which leads to higher insurance premiums.
- Favorites of thieves: Insurance companies diligently analyze theft data to assess risk. Owning a vehicle that ranks high on thieves’ lists can lead to increased insurance premiums. Each year, the National Insurance Crime Bureau (NICB) releases a list of the most targeted cars by thieves. By selecting a vehicle that isn’t frequently stolen, you can potentially reduce your insurance expenses.
How to save on car insurance for a Tesla
“Shop around for quotes from multiple insurers. Also, investigate group auto insurance that may be available from your employer,” says Brian Martucci, finance editor for Minneapolis-based Money Crashers.
Additionally, drop insurance coverage you don’t need, especially if you want to purchase an older vehicle model.
“You can shift money from one type of coverage to additional coverage on the uninsured motorist property damage coverage, for example. This way, so long as you are not the one at fault in an accident, your vehicle will be covered and you will save a lot of money on car insurance,” Mckenzie says.
Before committing to a vehicle, estimate your car insurance costs and shop for the best value. Compare quotes from different insurance companies carefully.
“If your car insurance payments are still on the higher end, consider choosing a higher deductible, such as $1,000 instead of a $500 deductible – which will lower your premium,” Mckenzie says. “Also, consider leaving off additional coverages like rental reimbursement or roadside assistance, which may save you money, too.”
Tesla discounts on car insurance
One way to save money on your Tesla insurance is to make sure that all available discounts are being applied to your policy. Insurers offer a variety of discounts that can dramatically lower your premium.
You might be eligible for discounts related to your vehicle or personal factors. Insurance companies typically reduce rates for vehicles equipped with advanced safety features such as automated emergency braking, lane departure warning systems and driver alertness monitors.
You may be able to save money by installing an anti-theft device or driving a brand-new car, as some insurers offer discounts for new vehicles. Personal factors, such as being a good driver or a good student (if you have a teen on your policy), can also lead to significant discounts.
“You may also qualify for a low-mileage discount by driving less and by bundling multiple policies, like home and auto, with the same carrier,” Martucci says.
Learn about common car insurance discounts for an overview of the most common savings for Honda auto insurance.
How does a car’s make affect car insurance rates?
Tesla car insurance rates depend on the model you select. They offer a diverse range of vehicles and insurance costs vary with each type.
Smaller SUVs and minivans are the cheapest vehicle types to insure while luxury models and sporty sedans are more expensive. Pickup trucks tend to fall on the more affordable side of the insurance spectrum – until you get into the luxury trim levels.
Insurance companies accumulate excessive statistical data, revealing that family-friendly vehicles-like SUVs and minivans-are involved in fewer accidents and file fewer claims than sedans and sports cars. This is one reason why they are cheaper to insure. Additionally, luxury vehicles and sports cars are equipped with expensive materials and advanced technology, which drives up repair costs and, as a result, increases insurance premiums.
Remember to compare apples to apples when it comes to insurance quotes for different vehicle types. A luxury sedan will always cost more to insure than a minivan or mid-size SUV, so when comparing insurance quotes, be sure to compare the same vehicle types and coverage limits.
The same advice should be followed when comparing vehicles from different manufacturers. A luxury German sedan (BMW or Mercedes for example) will be more expensive to insure than a minivan or compact vehicle from another manufacturer, so always compare similar vehicle types and trim levels when shopping for a new vehicle or policy.
Check out car insurance rates by model: Compare rates for over 3,000 models
About the company: Tesla
Tesla Inc., established in 2003, is an American electric vehicle and clean energy company. Tesla leads the electric vehicle market with its commitment to reducing carbon emissions. Its range of vehicles, including the Model S, Model 3, Model X and Model Y, are known for their sophisticated design, remarkable performance and extensive driving range.
Final thoughts on Tesla insurance costs
Tesla offers a diverse lineup of models, and the cost to insure them varies based on several factors. Choosing an entry-level vehicle with a low MSRP, smaller engine and various safety features can help keep your insurance premiums affordable. On the other hand, choosing luxury or sporty models will typically increase the cost of coverage.
You can reduce your insurance costs by regularly comparing coverage options, inquiring about available discounts and choosing the highest deductible.
Frequently asked questions
Does my driving record impact how much I pay to insure my Tesla?
Your driving history is one of the many factors affecting your Tesla car insurance premiums. Maintaining a clean record typically results in lower premiums, but if you’ve had accidents, speeding infractions, or DUI convictions, you may face significantly higher rates.
Does the color of my Tesla affect the insurance premium?
The color of your Tesla does not impact your insurance premium. Insurers calculate rates based on factors such as the vehicle’s model, age, safety features and driving record.
How does the age of my Tesla affect insurance costs?
Your Tesla’s age can affect your insurance costs. Older models often benefit from lower premiums because they depreciate in value, but they lack the latest safety features and it may lead to a slight increase in rates. On the other hand, newer models tend to have higher premiums, as they are more expensive to repair or replace.
Resources & Methodology
Sources
- Insurance Information Institute. “Facts + Statistics: Teen Drivers.” Accessed June 2025.
- National Insurance Crime Bureau (NICB). “2023 Vehicle Theft Trends Report.” Accessed June 2025.
Methodology
CarInsurance.com commissioned Quadrant Information Services to get car insurance rates for different makes and models. The rates are based on sample profiles of 18 and 40-year-old male drivers carrying full coverage policy with limits of 100/300/100 and a $500 collision and comprehensive deductible.
To evaluate the premiums, we have compared 67,566,780 insurance quotes from 57 insurance companies across the nation.
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