The average cost to insure a Tesla Model Y is $3,088 a year. However, the price you’ll pay for Tesla Model Y insurance will depend on the year and trim level of your specific Tesla Model Y. Other factors, like where you live, will also affect your rates.
What does it cost to insure my Tesla Model Y?
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Our rates are based on public rate filings obtained by analytics company First Interpreter. While we may partner with some of the carriers you see on our site, we maintain editorial independence and it does not affect the rates you see. Read more about our rating methodology or see our rigorous editorial policy.Â
Last updated: August 31, 2023
Insuring a Tesla Model Y can be considered more expensive compared to other cars. The average yearly cost for car insurance of a Model Y is $3,088, which is higher than the overall average of $2,123 for all cars. Newer model years, like the Model Y, can have higher insurance costs. This is due to their higher value, as well as the higher cost to repair and replace their parts. Additionally, the insurance rates can vary depending on the trim level of the vehicle. Higher trim levels may cost more to insure because they have more features and are worth more.
According to the data, the average cost of insurance for a 2023 Tesla Model Y seems to be increasing compared to previous model years. For a 2021 model, the average annual premium was $2,649, and it slightly rose to $2,924 for a 2022. However, for a 2020 model, the cost was lower at $2,576. 2023 stands out as the highest insurance cost of $3,088. It is important to note that these premium costs do not take into account any factors related to the driver, focusing solely on the model year of the Tesla Model Y.
Annual rates for a single 35-year-old male, estimated using public rate filings sourced from First Interpreter. Rates do not represent actual quotes. Accurate as of July 2023.Â
The table below shows an average of how much it costs to insure a 2023 base model Tesla Model Y at popular insurance companies for a single 35-year-old male with a clean driving record. The listed companies provide coverage in a large portion of the US, but might not be available near you.
Click here to see what it would cost to insure your Tesla Model Y at top providers near you >
Annual rates for a single 35-year-old male, estimated using public rate filings sourced from First Interpreter. Rates do not represent actual quotes. Accurate as of July 2023.Â
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While the vehicle you drive plays a key role in the price you pay for insurance, other factors like where you live, your age, driving record, and more will also factor into the price of your premium. Because of this, the best way to save money on car insurance is to compare personalized rates from several insurance companies to find the cheapest premium for you. You should also see if you qualify for any discounts like a homeowner, multi-vehicle, or good driver discount.
Your Tesla Model Y may also be eligible for discounts at certain insurance companies depending on the safety ratings and features that come with your model year and trim level.
Personalized rate estimates at the top insurance companies in your state
Your rates will vary based on where you live, your age, and other factors like your driving record
Rate Retriever rates are based on public rate filings obtained by analytics company First Interpreter. This data comes from the rating plans insurance carriers submit to each state’s department of insurance. Rating plans detail how each carrier calculates premiums using factors such as location, age, gender, and driving record, and they ensure that insurance premiums are both fair and competitive.Â
For the data on this page, we made the following assumptions: a 35-year-old single male with a clean driving record and Good credit score. We adjusted this profile by vehicle make, model, trim, and year to determine the rates you see on this page.
These rates are not actual quotes and should only be used for comparative purposes. Your rates can vary significantly based on your unique driver profile.Â
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