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How Much is Tesla Car Insurance?

Written by Elizabeth Rivelli

Reviewed by Alyssa DiCrasto

Last updated: February 26th, 2024

On average, the cost of Tesla car insurance ranges from around $2,900 – $4,050 a year. However, the price you’ll pay to insure a Tesla depends on the specific year, model and trim level of your vehicle as well as a number of personal factors including where you live and your driving record. 

What does it cost to insure my Tesla?

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Insurance for a Tesla

Over the last several years, electric vehicles (EVs) have become increasingly popular. While many car manufacturers are producing EVs, Tesla continues to be the most popular brand. In 2022, Teslas accounted for 65% of all EV sales in the U.S.  

If you own a Tesla or are thinking about buying one, you might be wondering about the cost of Tesla insurance. Because Teslas have specialty parts and can be expensive to fix, they often have higher insurance premiums than some gas-powered vehicles. 

In this article, we’ll look at the average cost of auto insurance for a Tesla and share which companies have the best car insurance for Teslas. 

How much is insurance on a Tesla?

Based on our analysis of recent rate data, the average cost of Tesla insurance ranges from $2,880 to $4,050 per year, which is roughly $240 to $337 per month. 

However, the cost of car insurance for a Tesla depends on a variety of different factors. Your location, age, credit score, claim history, and driving record are some of the personal criteria that will impact your rate.  

There are also several policy-related factors that affect the cost. For example, your coverage limits and deductibles will determine your insurance premium, as well as the specific model, year, and trim of your Tesla. 

It’s also important to note that the insurance company you choose will affect the cost of your Tesla insurance. Auto insurance companies charge different rates for the same types and amounts of coverage. Before you buy Tesla insurance, you should shop around and get quotes to find the most affordable policy for your situation. 

To get started, you can take our short quiz to see how much you can expect to pay to insure your Tesla. 

Average Tesla insurance rates by model

The Tesla model you purchase can have a big impact on the cost of your car insurance policy. According to our data, the Model 3 has the lowest average premium and the Model X has the highest average premium. In general, Teslas with a higher MSRP have higher average car insurance rates. 

In the table below, you can see the average cost of car insurance for 2022 Tesla models:

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 January 2024. 

Insurance for popular Tesla models

Tesla Model 3

The Model 3 is one of the top-selling Teslas on the U.S. EV market. It provides 333 miles of range and can go 0-60 in 3.1 seconds. The Model 3 is also Tesla’s most affordable vehicle. The MSRP for the 2023 model is $32,740 after federal tax credits.  

See how much it costs to insure a Tesla Model 3>

Tesla Model Y

Tesla’s Model Y was the highest-selling EV in 2022. The Model Y Long Range offers 330 miles of range on a single charge, and goes 0-60 in less than five seconds. This model starts at $50,490.

See how much it costs to insure a Tesla Model Y>

Tesla Model S

The Model S Long Range is known for its exceptional range. The car has an EPA estimated range of 405 miles on a single charge. It’s also one of Tesla’s fastest models, going 0-60 in just over three seconds. The latest model S starts at $88,490.

See how much it costs to insure a Tesla Model S>

Best car insurance companies for Tesla

Before you purchase Tesla insurance, it’s important to compare several car insurance companies. The best Tesla car insurance company is different for everyone, depending on your location, budget, and the type of coverage you want. Based on our analysis, these are the best and cheapest car insurance providers for various Tesla models: 

  • Model 3: Nationwide, State Farm, and Erie Insurance 
  • Model Y: Auto-Owners, Nationwide, and State Farm 
  • Model S: Kemper, State Farm, and Nationwide 
  • Model X: Kemper, Progressive, and State Farm 

If you don’t want to purchase car insurance on the private market, you can also get insurance through Tesla, which underwrites its own policies. Tesla insurance rewards safe driving habits and calculates your premium based on real-time driving behaviors. Everything is controlled through the Tesla app, so you don’t have to install a telematics device in your vehicle. 

You can purchase a car insurance policy through the Tesla app, manage your policy, and view your premium anytime. If you get into an accident or your vehicle gets damaged, you can also file claims through the mobile app. 

Tesla insurance is currently available in the following states: 

  • Arizona 
  • Colorado 
  • Illinois 
  • Maryland 
  • Minnesota 
  • Nevada 
  • Ohio 
  • Oregon 
  • Texas 
  • Utah 
  • Virginia 
State Farm Insurance
Kemper Auto insurance
progressive insurance

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How much should I expect to pay to insure my Tesla

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

Frequently asked questions

Why is electric car insurance so expensive?

Electric vehicles can be expensive to insure because they often have a higher value than gas-powered cars and some of the parts are more expensive to replace. Because the insurance company has to pay more for a claim, they often charge higher rates for electric vehicles.

Are Teslas more expensive to insure?

Based on our average rate data, Teslas are more expensive to insure than many other vehicles. However, the cost of Tesla insurance depends on a variety of factors, like your insurance company, location, credit score, and driving record.

Are Teslas good on insurance?

Adding a Tesla to your car insurance policy may cause your premium to go up. To get the most affordable Tesla insurance, it’s a good idea to shop around and get quotes from several insurers. You can also look for companies that offer discounts, which could help you lock in a lower rate.

Why is Tesla insurance so high?

Tesla insurance rates can be high because the vehicles are more expensive to fix than some other cars. However, the gap between EV insurance rates and gas-powered vehicle insurance rates is becoming much smaller, according to Progressive.

What happens if I crash my Tesla?

If you crash your Tesla, you can file a claim with your insurance company to get reimbursed for the cost of repairs. If your Tesla gets totaled, your insurer will provide a payout to buy a new car. Keep in mind that it could take longer for the car to get repaired. Tesla requires you to take your car to a Tesla-owned and operated Collision Center or Tesla-Approved Collision Center to have repairs done after an accident.


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. 

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.