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How much does Tesla insurance cost?

I'm interested in getting a Tesla Model S, but I'm kind of worried it will be expensive to insure. How much is insurance for a Tesla?

Matthew Macgugan · Updated on Oct 12, 2021

Reviewed by Shannon Martin, Licensed Insurance Agent.

“Those are very nice cars!

The cost of

insuring a Tesla

will vary depending on how your vehicle is equipped, as well as the state you live in and your personal driving history.

On average, expect to pay around $4,500 per year for

full coverage

on your electrified ride.

If you’re thinking that’s a pretty high number, you’re right! But that’s because Teslas typically cost more to repair than traditional gas-engine cars.

You won’t necessarily need to carry full coverage if you purchase the car outright (although you probably still should). But if you’re planning to finance or lease it, you’ll likely be required to have a full-coverage policy.

You may be able to save money by

taking advantage of discounts

offered by some insurers, like:

Good driver discounts

Loyalty discounts

Multi-policy discounts

Anti-theft equipment discounts

To make sure you get the best rate for insurance on your Tesla, use a comparison app like

. Jerry can generate quotes from over 50 of the nation’s leading providers in seconds so you can find the best deal available.

Enjoy your sweet new ride!”

MORE:

How to get a hybrid or electric car tax credit

View full answer

WHY YOU CAN TRUST JERRY

Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

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