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Drivers with a Tesla Model S spend an average of $292 on full-coverage auto insurance monthly.
Various factors related to your driving situation affect your car insurance rates, including your age, ZIP code, coverage type, garaging address, marital status, driving record, credit history, vehicle safety features, discount eligibility, and more.[1]
Here’s what you should know about auto insurance for your Tesla Model S, including average costs and coverage options.
Quick Facts
Tesla’s electric vehicles come with more expensive auto insurance premiums than many standard gas-powered vehicles.
USAA and State Farm offer the cheapest average rates for Tesla Model S drivers.
Insurers charge slightly less to insure a Tesla Model S than a Tesla Model X, according to Insurify data.
Cost of Tesla Model S insurance
Tesla Model S insurance costs an average of $143 per month for liability-only insurance. Drivers who opt for full-coverage insurance face an average cost of $292 per month to insure their Tesla Model S.
USAA and State Farm offer some of the cheapest rates for 2019 Tesla Model S drivers, with average full-coverage rates of $154 and $177 per month, respectively.
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2023 Tesla Model S insurance
USAA offers the cheapest average rates to drivers with a 2023 Tesla Model S, followed by State Farm. The practically brand-new vehicle has an MSRP of $74,990. With a high-value vehicle, drivers will likely find higher costs to insure the 2023 model of this vehicle than older models.
The table below provides a breakdown of the average full-coverage costs for the 2023 Tesla Model S by insurance company.
Insurance Company
▲▼
Average Monthly Quote
▲▼
USAA
$196
State Farm
$225
GEICO
$233
Allstate
$272
Progressive
$286
American Family
$341
Nationwide
$364
Travelers
$388
Liberty Mutual
$392
Farmers
$487
The General
$489
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
2022 Tesla Model S insurance
USAA and State Farm offer the lowest average costs to insure the 2022 Tesla Model S, which has an MSRP of $106,400.
The following table highlights the different average full-coverage car insurance rates across insurers.
Insurance Company
▲▼
Average Monthly Quote
▲▼
USAA
$182
State Farm
$209
GEICO
$216
Allstate
$253
Progressive
$265
American Family
$316
Nationwide
$338
Travelers
$360
Liberty Mutual
$364
Farmers
$453
The General
$454
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
2021 Tesla Model S insurance
The 2021 Tesla Model S has an MSRP of $96,440. USAA and State Farm have the cheapest average rates for this model year. Compare average full-coverage quotes below.
Insurance Company
▲▼
Average Monthly Quote
▲▼
USAA
$168
State Farm
$193
GEICO
$200
Allstate
$233
Progressive
$245
American Family
$292
Nationwide
$312
Travelers
$332
Liberty Mutual
$336
Farmers
$418
The General
$419
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
2020 Tesla Model S insurance
USAA has the cheapest average coverage for the 2020 Tesla Model S, which has an MSRP of $70,620. As the vehicle ages, insurance costs will likely decrease.
The table below breaks down the average cost of full-coverage insurance by insurer.
Insurance Company
▲▼
Average Monthly Quote
▲▼
USAA
$161
State Farm
$185
GEICO
$191
Allstate
$224
Progressive
$235
American Family
$280
Nationwide
$299
Travelers
$318
Liberty Mutual
$322
Farmers
$400
The General
$402
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
2019 Tesla Model S insurance
Since older vehicles lose value over time, insurance companies offer cheaper rates for the 2019 Tesla Model S. This car has an MSRP of $76,200.
The table below highlights the average price of a full-coverage auto policy for this electric car from different insurance companies.