Tesla Insurance Rates

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Tesla Insurance Rates might be between $243.37 and $317.07 on average per month.

Tesla car insurance rates by model

Tesla Insurance Rates - Tesla Logo

Researchers gathered Tesla auto insurance quotes from leading insurers to conclude that Tesla’s insurance cost might be between $243.37 and $317.07 on average per month. Monthly prices, however, depend on the type and year of your automobile.

How we got these rates

The prices are based on one 30-year-old driver living in California with a clean drive history. California is one of seven states that do not consider sex to calculate the cost of auto insurance. We have chosen complete insurance coverage cars that exceed the California minimal conditions including Liability limitations

  • Bodily injury liability per person: $50,000
  • Bodily injury liability per accident: $100,000
  • Property damage liability: $50,000
  • Comprehensive deductible: $500
  • Collision deductible: $500
  • Medical payments: $5,000
  • Uninsured motorist bodily injury: $50,000/$100,000

Details like your postcode, region, kind of employment, yearly miles and more will make your prices vary.

How to compare car insurance for a Tesla

Most major insurers cover your Tesla, but you will want to weigh the cost with protection and other key aspects. Take these areas into consideration.

  • Cost. As big brands charge exorbitant rates for Teslas, check which firms give the greatest value for you with several estimates. Consider Tesla’s own auto insurance for specific prices and benefits. Also consider insurance.
  • Coverage. You could like more to extend the protection through comprehensive coverage, collision or agreed value than simply minimal coverage of your costly Tesla.
  • Discounts. If you find green car savings and driver support features, collect an offer from that business to compare it to the total cost of other insurers.
  • Features and perks. You can test various insurers if you desire luxury features like a covenant, original components coverage and a high level of accountability.

Why are Teslas so expensive to insure?

In determining your insurance prices, insurance companies look at various aspects of your automobile, and the feature of Tesla tends to increase the danger and expense of the car to be repaired. Tesla’s features affecting premiums:

  • Market value. Tesla automobiles are more expensive to replace when you have a major accident than other models. And the greatest level of trim or additional characteristics might raise the selling price.
  • The car’s cost to repair. In order to fix the technology on your Tesla, mechanics require specific skills and repairs may also take longer.
  • Electric car parts. The cost of repairing electric car parts such as batteries may be multi-million dollars to replace.
  • Chances of a claim. Certain insurance companies such as AAA boost their Tesla car premiums to as much as 30%, stating Teslas generate greater and more frequent claims.
  • Its safety ratings. Teslas have excellent security scores that contribute to the cost of their insurance. As an example, for 2021, the Model 3 was selected as the Top Safety Pick by The Insurance Institute for Road Safety (IIHS).

Insurance costs for Tesla’s competitors

Find Tesla-like manufactures or compare Tesla-like insurances if you are not certain that you are correct to purchase and ensure Tesla.

Bottom line

A high price tag by a Tesla indicates it might cost a great deal of insurance. Shop around to obtain your best automobile insurance.

Check out our review of GMC Insurance Rates for additional car insurance review.