Gianetta Palmer is a writer, copywriter, and essayist. Her work has appeared in EverydayHealth.com, Healthline, and The Dyrt Magazine. She is the author of Scrunchie-Fried and writes a lot about car insurance in her spare time.

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florid...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Jun 17, 2021

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Looking for a new or used Tesla Model S? And wondering how much it costs to insure by year? We researched average annual insurance costs for each model year and have compiled the results for you below.

Tesla Model S insurance facts

  • Average full coverage auto insurance premium: $205/month

  • Most affordable companies: Nationwide ($161/month) & Progressive ($172/month)

  • Model S car insurance cost vs. average rate: $432 more expensive than the average vehicle

Explore the pricing information below to find how much it will cost you to insure your Tesla Model S by model year and auto insurer.

Free Auto Insurance Comparison

Enter your ZIP code below to view companies that have cheap auto insurance rates.

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Below average Tesla Model S insurer costs by state:

Risk factors affecting Tesla Model S car insurance rates

The make and model of your vehicle, along with the year of manufacture, are the three most important factors in determining your car’s value, which in turn is the main factor in determining your car insurance premium. Your own personal driving history, age, marital status, credit scoretype of vehicle, coverage levels, and other personal factors are also important components of your car insurance rate.

How to save money on Tesla Model S car insurance?

Many driver discounts are available to people through most major auto insurance companies, such as

  • Student discounts

  • Safe drivers

  • Senior discounts

With all Tesla models, you can get the following car insurance discounts:

  • Passive restraint systems

  • Anti-lock brakes

  • Anti-theft devices

Tesla Automobile Brand

Tesla is the best-selling plug-in and electric car manufacturer with nearly 25% of the electric car market selling to a small higher income group of buyers in the United States with many customers in Arizona, California, Florida, NevadaOregon, and Texas. The target market of Tesla is higher income (above 100K+), but with the lower-priced Model 3, Tesla gains more customers with lower income (50 to 100K). All Tesla automobiles have five-star safety ratings, with the Model 3 consistently getting “Top Safety Pick” and 5-star safety and crash test ratings from the National Highway Traffic Safety Administration (NHTSA). Current Tesla models include the Model 3, S, X, and the Y.

Higher than average Model S repair costs equal higher car insurance rates

Many consumers are attracted to Tesla automobiles for green technology, safety ratings, and driver-assist technologies, such as the autonomous system AutoPilot, their excellent all-wheel drive (AWD) system, plus the horsepower with the Model S going 0 to 60 in 1.99 seconds. Current automotive parts are sold directly from Tesla and are some of the most expensive repair parts and costs for vehicle owners. Repair parts for ToyotaHonda, and Subaru can be 120 to 284% less expensive. Repairing a Tesla is higher than average since repair parts are more costly and not as available as popular vehicles. For this reason, many Teslas are going to have higher than average car insurance rates to similar cars in its class.

Average depreciation for Tesla Model S affecting auto policies

Tesla has an average depreciating value, according to CarandDriver.com, affecting auto insurance rates. As your vehicle’s value goes down each year, your auto policy could go down at each renewal. On the other hand, in an auto accident, you need repair parts that rarely go down in price for all Tesla models. This could put you in a difficult situation position since many car insurance companies will subtract depreciation from the amount paid for your insurance claim resulting in a situation where your claim payout doesn’t fully cover your repair cost.

High IIHS and NHTSA safety ratings lower car insurance rates for drivers

Teslas are known for their excellent safety ratings, safety features, 5-star crash test ratings, AutoPilot driver-assist technologies, lowering car insurance rates for drivers with a good driving record, sometimes getting 20% driver discounts for passive restraints, and safety features in Tesla models. The Model 3 is Insurance Institute for Highway Safety (IIHS) “Top Safety Pick,” and the NHTSA consistently gives Tesla Model 3, S, X, and Y top safety ratings each year, lowering your car insurance costs.

AutoInsureSavings.org licensed car insurance agents to recommend comprehensive and collision coverage, uninsured motorist coverage, and roadside assistance for new Tesla automobile owners when buying a car insurance policy.

2021 Tesla Model S

Cheapest Insurance CompaniesAverage Annual Cost
21st Century $4289
Allied$4452
Allstate$3348
American Family$2896
Amica$3547
Country Financial$3519
Erie$2230
GEICO$2650
Kentucky Farm Bureau$3648
Liberty Mutual$2313
Mercury$3250
MetLife$4015
Nationwide$1938
Progressive$2065
State Farm$2160
Tennessee Farmers$3121
Tesla$1825
Texas Farm Bureau$2748
The Cincinnati$2158
The Hanover$3728
Travelers$3405

Compare all 2021 Tesla Model S rates

Average Cost to Insure Per Year

$2465

List Price

$69420

Trims Available

Standard Range - 75D - Long Range - Base - 100D - Performance - P100D - With Engine: All Wheel Drive (Dual Motor), Transmission: 1-spd auto with Driver Assist Technologies and Autonomous Driving - Traffic-Aware Cruise Control, Autosteer, Navigate on Autopilot, Auto Lane Change, Autopark, Smart Summon, Traffic and Stop Sign Control, with Safety Features - Forward Collision Warning, Automatic Emergency Braking, Lane Departure Avoidance, Blind Spot Collision Warning, Red Light Recognition, Front-impact airbags, Side impact airbags, Pretensioners

2020 Tesla Model S

Cheapest Insurance CompaniesAverage Annual Cost
21st Century $4168
Allstate$3265
American Family$2843
Country Financial$3490
Erie$2168
GEICO$2547
Kentucky Farm Bureau$3547
Liberty Mutual$2259
Mercury$3147
Nationwide$1890
Progressive$1964
State Farm$2043
Tennessee Farmers$3025
Tesla$1765
Texas Farm Bureau$2699
The Hanover$4002
Travelers$3315

Compare all 2020 Tesla Model S rates

Average Cost to Insure Per Year

$2463

List Price

$69420

Trims Available

Standard Range - 75D - Long Range - Base - 100D - Performance - P100D - With Engine: All Wheel Drive (Dual Motor), Transmission: 1-spd auto with Driver Assist Technologies and Autonomous Driving - Traffic-Aware Cruise Control, Autosteer, Navigate on Autopilot, Auto Lane Change, Autopark, Smart Summon, Traffic and Stop Sign Control, with Safety Features - Forward Collision Warning, Automatic Emergency Braking, Lane Departure Avoidance, Blind Spot Collision Warning, Red Light Recognition, Front-impact airbags, Side impact airbags, Pretensioners

2019 Tesla Model S

Cheapest Insurance CompaniesAverage Annual Cost
American Family$ 1733
American Family$ 1733
Cincinnati Insurance$ 1879
Cincinnati Insurance$ 1879
Country$ 2352
Country$ 2352
Erie$ 1804
Erie$ 1804
GEICO$ 4022
GEICO$ 4022
Liberty Mutual$ 3154
Liberty Mutual$ 3154
MetLife$ 3714
MetLife$ 3714
Nationwide$ 2027
Nationwide$ 2027
Progressive$ 2578
Progressive$ 2578
State Farm$ 2384
State Farm$ 2384
USAA$ 2203
USAA$ 2203

Compare all 2019 Tesla Model S rates

Average Cost to Insure Per Year

$ 2532

List Price

$ 75000

Trims Available

Standard Range - 75D - Long Range - Base - 100D - Performance - P100D

2018 Tesla Model S

Cheapest Insurance CompaniesAverage Annual Cost
AAA$ 4343
AAA$ 4343
American Family$ 3239
American Family$ 3239
Country$ 2291
Country$ 2291
Erie$ 1398
Erie$ 1398
GEICO$ 3333
GEICO$ 3333
Liberty Mutual$ 3309
Liberty Mutual$ 3309
MetLife$ 3596
MetLife$ 3596
Nationwide$ 1963
Nationwide$ 1963
Progressive$ 2400
Progressive$ 2400
State Farm$ 2651
State Farm$ 2651
USAA$ 1953
USAA$ 1953

Compare all 2018 Tesla Model S rates

Average Cost to Insure Per Year

$ 2771

List Price

$ 75000

Trims Available

75D - 100D - P100D

2017 Tesla Model S

Cheapest Insurance CompaniesAverage Annual Cost
Acuity$ 912
Acuity$ 912
Allmerica$ 886
Allmerica$ 886
Cincinnati Insurance$ 872
Cincinnati Insurance$ 872
Country$ 837
Country$ 837
Erie$ 875
Erie$ 875
Farmers$ 1026
Farmers$ 1026
Mercury$ 888
Mercury$ 888
MetLife$ 1037
MetLife$ 1037
Oklahoma Farmers Union$ 1088
Oklahoma Farmers Union$ 1088
Plymouth Rock Insurance$ 934
Plymouth Rock Insurance$ 934
USAA$ 999
USAA$ 999
Vermont Mutual$ 931
Vermont Mutual$ 931

Compare all 2017 Tesla Model S rates

Average Cost to Insure Per Year

$ 1365

List Price

$ 68000

Trims Available

60 - 60D - 75 - 75D - 90D - P100D

2016 Tesla Model S

Cheapest Insurance CompaniesAverage Annual Cost
Acuity$ 1953
Acuity$ 1953
Cincinnati Insurance$ 729
Cincinnati Insurance$ 729
Erie$ 1381
Erie$ 1381
Mercury$ 1024
Mercury$ 1024
Nationwide$ 2000
Nationwide$ 2000
Oklahoma Farmers Union$ 1014
Oklahoma Farmers Union$ 1014
Progressive$ 1976
Progressive$ 1976
Quincy Mutual$ 1131
Quincy Mutual$ 1131
Safe Auto$ 1923
Safe Auto$ 1923
Tennessee Farmers$ 1294
Tennessee Farmers$ 1294
Texas Farm Bureau$ 785
Texas Farm Bureau$ 785
USAA$ 1828
USAA$ 1828

Compare all 2016 Tesla Model S rates

Average Cost to Insure Per Year

$ 2067

List Price

$ 66000

Trims Available

60 - 70 - 60D - 75 - 70D - 75D - 90D - P90D

2015 Tesla Model S

Cheapest Insurance CompaniesAverage Annual Cost
Cincinnati Insurance$ 722
Cincinnati Insurance$ 722
Erie$ 1591
Erie$ 1591
Mercury$ 1000
Mercury$ 1000
Nationwide$ 1923
Nationwide$ 1923
Oklahoma Farmers Union$ 985
Oklahoma Farmers Union$ 985
Progressive$ 1676
Progressive$ 1676
Quincy Mutual$ 1107
Quincy Mutual$ 1107
Safe Auto$ 1819
Safe Auto$ 1819
State Farm$ 1682
State Farm$ 1682
Tennessee Farmers$ 2084
Tennessee Farmers$ 2084
Texas Farm Bureau$ 767
Texas Farm Bureau$ 767
USAA$ 1690
USAA$ 1690

Compare all 2015 Tesla Model S rates

Average Cost to Insure Per Year

$ 2127

List Price

$ 69900

Trims Available

60 - 70D - 85 - 85D - 90D - P85D - P90D

2014 Tesla Model S

Cheapest Insurance CompaniesAverage Annual Cost
Acuity$ 1684
Acuity$ 1684
Arbella$ 1889
Arbella$ 1889
Cincinnati Insurance$ 746
Cincinnati Insurance$ 746
Country$ 1895
Country$ 1895
Erie$ 1198
Erie$ 1198
Mercury$ 1018
Mercury$ 1018
Oklahoma Farmers Union$ 1356
Oklahoma Farmers Union$ 1356
Quincy Mutual$ 1079
Quincy Mutual$ 1079
Tennessee Farmers$ 1797
Tennessee Farmers$ 1797
Texas Farm Bureau$ 803
Texas Farm Bureau$ 803
USAA$ 1677
USAA$ 1677
Vermont Mutual$ 1789
Vermont Mutual$ 1789

Compare all 2014 Tesla Model S rates

Average Cost to Insure Per Year

$ 1955

List Price

$ 69900

Trims Available

60 - 85 - Base - P85 - Performance - P85D

2013 Tesla Model S

Cheapest Insurance CompaniesAverage Annual Cost
Acuity$ 1875
Acuity$ 1875
Arbella$ 1872
Arbella$ 1872
Cincinnati Insurance$ 1140
Cincinnati Insurance$ 1140
Erie$ 973
Erie$ 973
Mercury$ 999
Mercury$ 999
Progressive$ 1494
Progressive$ 1494
Quincy Mutual$ 1051
Quincy Mutual$ 1051
State Farm$ 1669
State Farm$ 1669
Tennessee Farmers$ 1878
Tennessee Farmers$ 1878
Texas Farm Bureau$ 1316
Texas Farm Bureau$ 1316
USAA$ 1427
USAA$ 1427
Vermont Mutual$ 1943
Vermont Mutual$ 1943

Compare all 2013 Tesla Model S rates

Average Cost to Insure Per Year

$ 2232

List Price

$ 59900

Trims Available

Base - Performance

2012 Tesla Model S

Cheapest Insurance CompaniesAverage Annual Cost
Acuity$ 1694
Acuity$ 1694
Arbella$ 1787
Arbella$ 1787
Cincinnati Insurance$ 1182
Cincinnati Insurance$ 1182
Erie$ 1017
Erie$ 1017
Mercury$ 1006
Mercury$ 1006
Progressive$ 1538
Progressive$ 1538
Quincy Mutual$ 1027
Quincy Mutual$ 1027
State Farm$ 1539
State Farm$ 1539
Tennessee Farmers$ 1813
Tennessee Farmers$ 1813
Texas Farm Bureau$ 1280
Texas Farm Bureau$ 1280
USAA$ 1225
USAA$ 1225
Vermont Mutual$ 1761
Vermont Mutual$ 1761

Compare all 2012 Tesla Model S rates

Average Cost to Insure Per Year

$ 2263

List Price

$ 57400

Trims Available

Base - Performance - Signature - Signature Performance