How much is insurance on a Tesla Model S?
A 2024 Tesla Model S runs about $3,040 a year for a typical 45-year-old, $1,090 more than an average car of the same age: higher crash-repair losses and higher non-crash losses outweigh fewer injury claims and less damage to others' property. Putting a new 16-year-old on a family policy with the Model S adds about $2,000 a year (#5 of 5 large cars we compare).
2024 Tesla Model S (Model S), national average
about $3,040 a year (about $255 a month)
Estimated range: $2,000–$4,400. Actual quotes can fall outside it.
An average car of the same age (what HLDI's 2022–24 results measure against) runs about $1,940 a year. A used 2013 Model S drops to about $2,590 (see the table below).
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Priced for the 2024 Model S, the newest year covered by HLDI's loss data (2022–24 models), for a 45-year-old driver with a clean record and full coverage. HLDI's results combine drivers of all ages. We apply them to one example driver (a 45-year-old with a clean record) so pages are comparable; they aren't specific to 45-year-olds. Each state raises or lowers every car's price by the same percentage, so the Model S's rank is the same in every state.
Why the Tesla Model S costs what it does
What HLDI reports (2022–24 models, all drivers combined)
The Highway Loss Data Institute (HLDI) compares each model's insurance losses with an average car's. For the Tesla Model S 4dr electric 4WD, on HLDI's scale where 100 is an average car and lower is better, it reports 216 for crash repairs, 152 for non-crash damage, 92 for damage to others' property, and 75 for injury claims.
- Crash repairs (collision)fixing this car after a crashSubstantially worse than average116% worse than averageworst of the 5 large cars we compare
- Non-crash damage (comprehensive)theft, weather, fire, vandalism, glass, and animal strikesSubstantially worse than average52% worse than averageworst of the 5 large cars we compare
- Damage to others' property (property damage liability)other people's cars and property, when this car's driver is at faultAverage8% better than averagebest of the 5 large cars we compare
- Injuries to others (bodily injury liability)how often injury claims are filed against this car's drivers, not how much they costBetter than averagefiled 25% less often than averagebest of the 5 large cars we compare
HLDI rates results within about 20% of average as “Average.”
Source: HLDI, insurance losses by make and model, 2022–24 models.
What we estimate that means for price
Prices move less than loss results do: a car's loss record is only one of many things insurers weigh, and each weighs it differently. So we count only part of HLDI's difference. Combining crash repairs and non-crash damage (weighted about 71% and 29%, the share each makes up of industry claim costs), the Model S comes out about 97% worse than average. Published prices for luxury makes like this one run higher than their loss results alone suggest, so we also add an adjustment fitted to those prices. With it, the part of the bill that fixes the car is about 124% more than average: about $2,140 a year vs $950. On the liability side, damage to others and injury claims combine to about 18% better than average. We count about half, so that part is about 9% less: $900 a year vs $990.
The Tesla Model S is an electric large car that HLDI benchmarks among large luxury cars; on electric models like the Model S, battery pack and sensor repair costs shape collision losses alongside low injury-claim frequency.
- Expensive and electric cars can cost more or less to insure than their repair records suggest.
Matched to HLDI series “Tesla Model S 4dr electric 4WD” (HLDI, 2022–24 models).
A used Tesla Model S, by model year
| Model year | Full coverage | Liability only | Adding a teen | Teen on their own policy |
|---|---|---|---|---|
| 2024 Model S (0–3 years old) | about $3,040 | about $900 | +$2,000 | about $8,720 |
 2022 Model S (4–7 years old) | about $2,780 | about $900 | +$1,840 | about $7,980 |
 2018 Model S 75D (8–12 years old) | about $2,560 | about $930 | +$1,690 | about $7,340 |
 2013 Model S (40 kW-hr battery pack) (13 or more years old) | about $2,590 | about $1,040 | +$1,710 | about $7,430 |
Our catalog covers the Tesla Model S across model years 2012–2026. Full coverage on a used 2013 Model S (13 or more years old) runs about $2,590 a year, $450 less than on a 2024. Dropping collision and comprehensive on that 2013 brings liability-only coverage to about $1,040 a year. Each photo shows that year's generation of the car. Photo credits.
All 3 versions of the 2024 Tesla Model S in our catalog (Model S, Model S Plaid (19in wheels) and Model S Plaid (21in wheels)) price within about $50 a year of each other.
On a policy of their own with a 2024 Tesla Model S, a 22–25-year-old pays about $3,950 a year ($910 more than a 45-year-old), a 26–39-year-old about $3,370, and a driver 65 and older about $3,190.
Adding a 16-year-old with a Tesla Model S
A new driver costs more with any car, and more than usual with the Tesla Model S: adding a 16-year-old raises the family bill by about $2,000 a year ($165 a month), $720 more than adding a teen with an average car of the same age. A separate policy in the 16-year-old's own name runs about $8,720 a year ($6,710 more than adding them to the family policy).
For adding a teen driver, the Tesla Model S ranks 2nd most expensive out of all 121 models we track. Stepping down to a used 2013 Model S (13 or more years old) brings the teen add-on to about $1,710 a year.
That increase is how much the family bill goes up with a new 16-year-old driving this car. Cheapest cars to insure for a teen.
Similar large cars
Among these 5 large cars, the Tesla Model S is the most expensive to insure. Just below it is the Acura Integra, at about $2,300 a year.
2024 Honda Accordabout $2,070 ($970 less)
2024 Hyundai Sonataabout $2,160 ($870 less)
2024 Kia K5about $2,270 ($760 less)
2024 Acura Integraabout $2,300 ($740 less)- 2024 Tesla Model Sabout $3,040 (this car)
Photos from Wikimedia Commons contributors. Photo credits.
What a Tesla Model S costs in your state
In six sample states, a 2024 Tesla Model S runs from about $2,020 a year in Vermont through North Carolina, West Virginia, Arkansas and Nevada to about $4,000 in New York:
- Vermontabout $2,020/yr · +$1,330 teen
- North Carolinaabout $2,320/yr · +$1,530 teen
- West Virginiaabout $2,590/yr · +$1,710 teen
- Arkansasabout $2,730/yr · +$1,800 teen
- Nevadaabout $3,380/yr · +$2,230 teen
- New Yorkabout $4,000/yr · +$2,640 teen
All 50 states and DC · Updated .
Both start from your own situation if you've set one. For crash safety, see IIHS and NHTSA ratings.
This is an estimate to help you plan, not a quote. We don't sell insurance, and nothing you type is sent to us. Only an insurer can give you a real price.