Finding the best Tesla Model 3 Insurance cost can be tricky if you don’t know how to get car insurance for the first time. People make mistakes because they don’t compare car insurance quotes online or don’t know how to compare car insurance quotes. All this often results in paying higher premiums for auto insurance policies. Spending more money is not a wise option. We recommend shopping around, researching car insurance policies compared to other companies, and then buying or renewing.
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, and gender. Let Mount Shine’s comparison of Tesla Model S insurance costs help you save money on your next auto insurance policy and make the best financial decision. Get a car insurance quote for the Tesla Model S and buy/renew. Save money on insurance policy by contacting us.
Our study will guide you on car insurance rates, banks auto loans, crash test results, safety ratings, and how you can save money on car insurance. Following our study on how to get cheaper car insurance for Tesla Model S will help you get a lower insurance policy up to $203 per month. You can also compare auto insurance quotes side by side with other manufacturers. Check where Tesla cars rank with other vehicles like BMW, Audi, Honda, Hyundai, and other manufacturers.
How Much Does A Tesla Model S Insurance Costs In 2023?
The average insurance cost for Tesla Model S is $2,434 per year or around $203 per month, depending on the car’s features.
Here is the breakdown of Tesla Model S car insurance costs to see how much the individual coverages, comprehensive Coverage, liability coverage, and collision coverage:
- Individual Coverage, comprehensive Coverage for Tesla Model S Insurance – $714 a year.
- Liability/Medical for Tesla Model S Insurance – $588.
- Collision coverage for Tesla Model S Insurance – $1,124.
Compare the average Tesla Model S insurance prices changes based on the age of the driver and coverage deductibles from the table below:
| Driver Age | Deductible | Annual Cost | Monthly Cost |
|---|---|---|---|
| 20 | $1,000 | $3,968 | $331 |
| $500 | $4,776 | $398 | |
| $250 | $5,626 | $469 | |
| 30 | $1,000 | $2,126 | $177 |
| $500 | $2,584 | $215 | |
| $250 | $3,060 | $255 | |
| 40 | $1,000 | $2,014 | $168 |
| $500 | $2,434 | $203 | |
| $250 | $2,870 | $239 | |
| 50 | $1,000 | $1,828 | $152 |
| $500 | $2,206 | $184 | |
| $250 | $2,598 | $217 | |
| 60 | $1,000 | $1,796 | $150 |
| $500 | $2,164 | $180 | |
| $250 | $2,550 | $213 |
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.
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How Much Does Used Tesla Model S Insurance Cost In 2023?
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 excellent, and ownership is easily transferable.
The table below compares the average Tesla Model S insurance rates for the 2013 to 2022 model years. By comparing, you will understand the rates for Tesla Model S cars and clear any confusion about whether to go with a new Tesla or a used one.
| Model Year and Vehicle | Annual Rate | 6-month Rate | Monthly Rate |
|---|---|---|---|
| 2022 Tesla Model S | $2,434 | $1,217 | $203 |
| 2021 Tesla Model S | $2,336 | $1,168 | $195 |
| 2020 Tesla Model S | $2,286 | $1,143 | $191 |
| 2019 Tesla Model S | $2,030 | $1,015 | $169 |
| 2018 Tesla Model S | $2,088 | $1,044 | $174 |
| 2017 Tesla Model S | $2,034 | $1,017 | $170 |
| 2016 Tesla Model S | $1,982 | $991 | $165 |
| 2015 Tesla Model S | $2,032 | $1,016 | $169 |
| 2014 Tesla Model S | $1,938 | $969 | $162 |
| 2013 Tesla Model S | $1,738 | $869 | $145 |
Compare Tesla Model S Insurance Cost vs. Midsize Luxury Cars (2023)
While doing our research, we found that the Tesla Model S ranks 34 out of 38 compared to midsize luxury cars. There can be a difference of $416 in the average category cost and full coverage annually. Below the table compares the Tesla Model S with other midsize luxury cars:
| Rank | Make/Model | Insurance Cost | Difference |
|---|---|---|---|
| 1 | Acura ILX | $1,404 | -$1,030 |
| 2 | Lexus RC 300 | $1,690 | -$744 |
| 3 | Mercedes-Benz AMG CLA35 | $1,732 | -$702 |
| 4 | BMW i4 | $1,740 | -$694 |
| 5 | Cadillac CT5 | $1,744 | -$690 |
| 6 | Audi A3 | $1,762 | -$672 |
| 7 | Mercedes-Benz AMG CLA45 | $1,770 | -$664 |
| 8 | Mercedes-Benz CLA250 | $1,782 | -$652 |
| 9 | Lexus ES 250 | $1,784 | -$650 |
| 10 | Lexus IS 300 | $1,786 | -$648 |
| 11 | Lexus ES 350 | $1,794 | -$640 |
| 12 | Genesis G80 | $1,832 | -$602 |
| 13 | Audi S5 | $1,854 | -$580 |
| 14 | BMW 530i | $1,890 | -$544 |
| 15 | Lexus ES 300h | $1,896 | -$538 |
| 16 | Mercedes-Benz E350 | $1,908 | -$526 |
| 17 | BMW 530e | $1,926 | -$508 |
| 18 | BMW 540i | $1,930 | -$504 |
| 19 | Audi S4 | $1,938 | -$496 |
| 20 | BMW M440i | $1,940 | -$494 |
| 21 | Mercedes-Benz E450 | $1,948 | -$486 |
| 22 | Audi A6 | $2,000 | -$434 |
| 23 | Jaguar XF | $2,006 | -$428 |
| 24 | Lexus IS 500 | $2,028 | -$406 |
| 25 | BMW 430i | $2,050 | -$384 |
| 26 | Mercedes-Benz CLS450 | $2,064 | -$370 |
| 27 | Audi RS 5 | $2,166 | -$268 |
| 28 | Mercedes-Benz AMG C43 | $2,186 | -$248 |
| 29 | Audi S6 | $2,198 | -$236 |
| 30 | Infiniti Q50 | $2,224 | -$210 |
| 31 | Mercedes-Benz AMG C63 | $2,254 | -$180 |
| 32 | BMW M550i | $2,340 | -$94 |
| 33 | Audi A7 | $2,394 | -$40 |
| 34 | Tesla Model S | $2,434 | -- |
| 35 | Lexus LC 500h | $2,464 | $30 |
| 36 | Audi S7 | $2,590 | $156 |
| 37 | BMW M8 | $2,606 | $172 |
| 38 | BMW M5 | $2,636 | $202 |
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Compare Model S Insurance Cost To Similar Models (2023)
Tesla Model S car insurance policies compare to other midsize luxury sedan manufacturers in the industry, and we get to know its real potential. We see different models and compare their features whenever we buy a car. What we forget to compare are the maintenance and insurance costs that can become a burden on our financial expenditure later on.
We at Mount Shine have compared average car insurance quotes between the Model S and a 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 Insurance 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. Compared to the BMW M5, a Tesla Model S costs $202 less per year on average to insure.
Compare 2022 Tesla Model S Insurance 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. On average, Tesla Model S insurance costs $30 less per year than insuring a Lexus LC 500h.
Compare 2022 Tesla Model S Insurance 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). On average, insuring a Model S costs $172 less per year than insuring a BMW M8.
Compare 2022 Tesla Model S Insurance 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 In 2023?
The cheapest Tesla Model S insurance cost is for the Model S AWD at $2,284; the most expensive is Plaid AWD at $2,584 per year. As the trim level increases, the cost to insure a car also increases.
The table below compares the 2022 Tesla Model S car insurance policy according to the trim level.
| Tesla Model S Trim Level | Annual Policy | 6-month Policy | Per Month |
|---|---|---|---|
| AWD | $2,284 | $1,142 | $190 |
| Plaid AWD | $2,584 | $1,292 | $215 |
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How To Apply Car Insurance For Tesla Model S in 2023?
Let Mount Shine help you, we have a wide network of the 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, and save money on car insurance by contacting us. Hurry EMI starts as low as $203 per month in 2022! Our service is free, fast, and simple, so get started today!
Compare Tesla Car Insurance For Other Tesla Models (2023)
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, Model X, and Model Y along with the age of the driver, deductibles, crash test results, safety features, etc.
FAQs
Is Tesla Model S insurance cheaper in 2023?
The average insurance cost for Tesla Model S is $2,434 per year or around $203 per month, 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 than in Michigan or New York.
Is Tesla insurance expensive for used cars in 2023?
Car insurance for Tesla Model S new model costs $2,434 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 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 rates a month?
Tesla Model S insurance rates are $203 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 $1,602 per year or around $134 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 renew my Tesla Model 3 car insurance?
Purchase a policy in as little as one minute to get started. 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. After making your purchase, you will receive a confirmation email, and your Tesla Insurance card will be accessible to download in your Tesla Account. You can also use the Tesla app to see your policy paperwork, make changes to your policy, and submit a new claim.
Different coverage amounts depend 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 also planned to sell insurance and its electric vehicles combined.
