Compare Tesla Model S Insurance Cost For 2022: Buy/Renew

Hey Sunshine,

Finding the best Tesla Model 3 Insurance cost can be a tricky part if you don’t know how to get car insurance for the first time. People do make mistakes because they don’t compare car insurance quotes online or don’t know how to compare car insurance quotes. This often results in paying higher premiums for auto insurance policies. To avoid this, it is recommended to shop around, do proper research, car insurance policies compare to another company, and then buy or renew.

Tesla cars are expensive and you can find tesla car prices in our previous article Tesla Model 3 insurance where the MSPR starts at $40,000. All the tesla models have different insurance rates according to location, zip codes, trim levels, credit score history, age, etc. Let Mount Shine’s comparison of Tesla model S insurance costs help you save money on your next auto insurance policy and in the best financial decision making. Get a car insurance quote for the Tesla Model S and buy/renew, save money on insurance policy by contacting us.

Compare car insurance rates, banks auto loans, crash test results, safety ratings, and how can you save money on car insurance. Following our ultimate guide on how to get cheaper car insurance for Tesla will help you get a lower insurance policy up to $201 per month. You can also compare auto insurance quotes side by side with other manufacturers. Check where Tesla cars rank with other cars like BMW, Audi, Honda, Hyundai, etc.

How Much Does A Tesla Model S Insurance Costs To Insure?

The average insurance cost for Tesla Model S is $2,416 per year or around $201 per month depending on the features of the car.

Tesla Model S Insurance Costs

Here is the breakdown of Tesla Model S car insurance costs to see how much is the individual coverages, comprehensive coverage, liability coverage, and collision coverage:

  • Individual Coverage, comprehensive coverage for Tesla Model S Insurance – $708 a year
  • Liability/medical for Tesla Model S Insurance – $548
  • Collision coverage for Tesla Model S Insurance – $1,124

From the table below, compare the average Tesla Model S insurance prices changes based on the age of the driver and coverage deductibles.

Driver AgeDeductibleAnnual CostMonthly Cost
20$1,000$3,938$328
$500$4,740$395
$250$5,582$465
30$1,000$2,110$176
$500$2,564$214
$250$3,036$253
40$1,000$1,998$167
$500$2,416$201
$250$2,846$237
50$1,000$1,818$152
$500$2,190$183
$250$2,578$215
60$1,000$1,780$148
$500$2,146$179
$250$2,526$211

When compared Tesla Model S liability-only insurance in the cheapest areas of Maine or Idaho costing $208 a year to Detriot, Michigan that can cost $44,108 a year for a full coverage insurance policy. The increase in price is because of the accidents and violations a teen driver can make. Whenever traffic rules are not obeyed, the insurance price is always higher no matter what of what age the driver is.

This is very important information to know as many people ask can an 18-year-old get their own car insurance? What happens if you get pulled over without insurance? Most newbies don’t know how to get car insurance for the first time? These quotes will help eliminate the guesswork and you can get cheap car insurance for Tesla Model S.

Also Read – Joint Auto Loan Explained!

How Much Does Used Tesla Model S Insurance Cost?

Tesla is expensive that’s true but used tesla car is not, and they can be a smart choice to buy and insure. It costs less to insure them, maintenance cost is also low, mileage is great, and ownership is easily transferable.

Used Tesla Model S Insurance Cost

From the table below, compare the average Tesla Model S insurance rates for the 2013 to 2022 model years. This will help you understand the rates for Tesla Model S cars and clear any confusion about whether to go with a new Tesla or used one.

Model Year and VehicleAnnual Rate6-month RateMonthly Rate
2022 Tesla Model S$2,416$1,208$201
2021 Tesla Model S$2,320$1,160$193
2020 Tesla Model S$2,270$1,135$189
2019 Tesla Model S$2,016$1,008$168
2018 Tesla Model S$2,074$1,037$173
2017 Tesla Model S$2,020$1,010$168
2016 Tesla Model S$1,970$985$164
2015 Tesla Model S$2,014$1,007$168
2014 Tesla Model S$1,920$960$160
2013 Tesla Model S$1,720$860$143

Compare Model S Insurance Cost To Similar Models

Tesla Model S car insurance policies compare to other midsize luxury sedan manufacturers in the industry, we get to know its real potential. Whenever we make our mind to buy a car, we see different models and often compare their features. What we forget to compare are the maintenance and insurance costs that can become a burden on our financial expenditure later on.

That is why we at Mount Shine have compared average car insurance quotes between the Model S and similar model’s average purchase price or MSRP.

For a 2022 Tesla Model S, the average MSRP ranges from $94,990 to $129,990, depending on the model, so we compared it with BMW M5, Lexus LC 500h, BMW M8, and Audi S7.

Compare 2022 Tesla Model S Vs. BMW M5

The average MSRP for a Tesla Model S in 2022 is $5,190 higher than the BMW M5, at $112,490 against $107,300. In comparison to the BMW M5, a Tesla Model S costs $202 less per year on average to insure.

Compare 2022 Tesla Model S Vs. Lexus LC 500h

The Lexus LC 500h’s average MSRP is $101,873 ($99,050 to $105,900), which is $10,618 less than the Tesla Model S’s average MSRP. Tesla Model S insurance costs $32 less per year on average than insuring a Lexus LC 500h.

Compare 2022 Tesla Model S Vs. BMW M8

The 2022 BMW M8 costs $20,677 more than the Tesla Model S, with an average MSRP of $133,167 ($130,000 to $139,500). Insuring a Model S costs $170 less per year on average than insuring a BMW M8.

Compare 2022 Tesla Model S Vs. Audi S7

The Audi S7 costs an average of $87,550 ($84,600 to $90,500), which is $24,940 less than the Tesla Model S’s average price. Insuring a 2022 Model S costs $154 less per year on average than insuring an Audi S7.

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What Is The Cheapest Tesla Model S Insurance Cost?

The cheapest Tesla Model S insurance cost is for the AWD model at $2,266 and the most expensive is Plaid AWD at $2,564 per year. As the trim level increases, the cost to insure a car also increases.

Tesla Model S Insurance Trim Level

From the table below, compare the 2022 Tesla Model S car insurance policy according to the trim level.

Tesla Model S Trim LevelAnnual Policy6-month PolicyPer Month
AWD$2,266$1,133$189
Plaid AWD$2,564$1,282$214

How To Apply Car Insurance For Tesla Model S in 2022?

Let Mount Shine help you, we have a wide network of best insurance companies across 50 states of the United States that guide you to the best offers, payment options, auto insurance deals, etc. Check yourself for Tesla Model S insurance costs and then buy or renew.

Get free Tesla Model S Insurance quotes, buy/renew, save money on car insurance by contacting us. Hurry EMI starts as low as $201 per month in 2022! Our service is free, fast, and simple, so get started today!

Compare Tesla Car Insurance For Other Models

Compare Tesla car insurance for all models and analyze the rates for Tesla cars. Get the in-depth details for each Tesla model ranging from Tesla Model 3, X, and Y along with the age of the driver, deductibles, crash test results, safety features, etc.

Tesla Model 3

Tesla Model X

Tesla Model Y

FAQs

Is Tesla insurance cheaper?

The average insurance cost for Tesla ranges from $1,662 per year for Tesla Model 3 to $2,416 per year for Tesla Model S depending on the trim level. Compare all the models of Tesla as the price may vary from state to state and other factors are also involved. Tesla Model S insurance rates in California will be cheaper if compared to Michigan or New York.

Is Tesla insurance expensive for used cars?

Car insurance for Tesla Model S new model costs $2,416 and when compared to used models like 2021, 2017, 2014, it costs $2,320, $2,020, $1,920, respectively. So, the answer is NO, the insurance for used cars is not expensive.

What is the cost of Tesla insurance in New York?

The average cost of Tesla Insurance in new York is $1,780 for Tesla Model 3.

What is the cost of Tesla insurance in Illinois?

The average cost of Tesla Insurance in New York is $1,350 for Tesla Model 3.

How much does Tesla model 3 car insurance cost in California?

The average insurance cost for the Tesla Model S for full coverage in the state of California is $2,786, or around $232 per month.

Which is the best insurance for Tesla model S?

Compare auto insurance quotes online from different companies who work across all 50 states of the United States and get the best insurance for tesla model S. We have a wide range of networks that will help you get cheap insurance and save money on your car policy.

How much is Tesla Model S insurance a month?

Tesla Model S insurance costs are $201 a month depending on the trim level.

How much is the average insurance cost for Tesla model 3?

The average insurance cost for Tesla Model 3 is $1,662 per year or around $139 per month depending on the features of the car. It is cheaper to insure when compared to Tesla Model S.

Where is Tesla insurance available in the United States?

Palo Alto, California-based Tesla currently offers auto insurance in Arizona, California, Illinois, Ohio, and Texas.

What all documents do I need to get my Tesla Model 3 car insurance renewed?

Purchase a policy in as little as one minute to get started. Simply go to your Tesla Account and sign in. Add additional drivers or vehicles to your policy by entering information such as your driver’s license number, address, and date of birth. You will receive a confirmation email after making your purchase, and your Tesla Insurance card will be accessible to download in your Tesla Account. You can also use the Tesla app to see all of your policy paperwork, make changes to your policy, and submit a new claim.

Different coverage amounts are dependent on each driver’s demands and situation, and not all insurance policies are made equal.

From where can I purchase insurance for my Tesla Model S car?

Customers can purchase insurance for Tesla Model S or any other Tesla model from its official website. The company has planned to sell insurance too along with its electric vehicles combined.

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