How much is insurance on a Tesla Model Y?
A 2024 Tesla Model Y runs about $2,690 a year for a typical 45-year-old, $750 more than an average car of the same age: higher crash-repair losses outweigh fewer injury claims and less damage to others' property. Putting a new 16-year-old on a family policy with the Model Y adds about $1,780 a year (#8 of 9 midsize luxury SUVs we compare).
2024 Tesla Model Y (Model Y Long Range AWD), national average
about $2,690 a year (about $225 a month)
Estimated range: $1,800–$3,900. 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 2022 Model Y drops to about $2,480 (see the table below).
Priced for the 2024 Model Y Long Range AWD, 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 Y's rank is the same in every state.
Why the Tesla Model Y 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 Y electric 4dr 4WD, on HLDI's scale where 100 is an average car and lower is better, it reports 134 for crash repairs, 102 for non-crash damage, 86 for damage to others' property, and 75 for injury claims.
- Crash repairs (collision)fixing this car after a crashWorse than average34% worse than averageworst of the 9 midsize luxury SUVs we compare
- Non-crash damage (comprehensive)theft, weather, fire, vandalism, glass, and animal strikesAverage2% worse than average5th best of the 9 midsize luxury SUVs we compare
- Damage to others' property (property damage liability)other people's cars and property, when this car's driver is at faultAverage14% better than average7th best of the 9 midsize luxury SUVs 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 average6th best of the 7 midsize luxury SUVs 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 Y comes out about 25% 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 90% more than average: about $1,810 a year vs $950. On the liability side, damage to others and injury claims combine to about 20% better than average. We count about half, so that part is about 11% less: $890 a year vs $990.
The Tesla Model Y is an electric small SUV that HLDI benchmarks among midsize luxury SUVs; on electric models like the Model Y, 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 Y electric 4dr 4WD” (HLDI, 2022–24 models).
A used Tesla Model Y, by model year
| Model year | Full coverage | Liability only | Adding a teen | Teen on their own policy |
|---|---|---|---|---|
| 2024 Model Y Long Range AWD (0–3 years old) | about $2,690 | about $890 | +$1,780 | about $7,730 |
 2022 Model Y Long Range AWD (4–7 years old) | about $2,480 | about $890 | +$1,630 | about $7,110 |
Our catalog covers the Tesla Model Y across model years 2020–2027. Full coverage on a used 2022 Model Y (4–7 years old) runs about $2,480 a year, $220 less than on a 2024. Dropping collision and comprehensive on that 2022 brings liability-only coverage to about $890 a year. Each photo shows that year's generation of the car. Photo credits.
Across 2024 Tesla Model Y trims, full coverage goes from about $2,590 a year on the Model Y Long Range RWD to about $2,690 on the Model Y Performance AWD, because HLDI's loss results differ by body, drive, or powertrain.
- Model Y Long Range RWD; Model Y RWD: about $2,590
- Model Y Long Range AWD; Model Y Long Range AWD-I; Model Y Performance AWD: about $2,690
On a policy of their own with a 2024 Tesla Model Y, a 22–25-year-old pays about $3,500 a year ($810 more than a 45-year-old), a 26–39-year-old about $2,990, and a driver 65 and older about $2,830.
Adding a 16-year-old with a Tesla Model Y
A new driver costs more with any car, and more than usual with the Tesla Model Y: adding a 16-year-old raises the family bill by about $1,780 a year ($150 a month), $500 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 $7,730 a year ($5,950 more than adding them to the family policy).
For adding a teen driver, the Tesla Model Y ranks 7th most expensive out of all 121 models we track. Stepping down to a used 2022 Model Y (4–7 years old) brings the teen add-on to about $1,630 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 midsize luxury SUVs
Among these 9 midsize luxury SUVs, the Tesla Model Y is the 2nd most expensive to insure. Right next to it are the Audi Q5 (about $2,590 a year) and the BMW X5 (about $2,700).
2024 Lexus RXabout $2,130 ($560 less)
2024 Mercedes-Benz GLC-Classabout $2,480 ($210 less)
2024 BMW X3about $2,570 ($120 less)
2024 Audi Q5about $2,590 ($100 less)- 2024 Tesla Model Yabout $2,690 (this car)
2024 BMW X5about $2,700 (about the same)
Photos from Wikimedia Commons contributors. Photo credits.
What a Tesla Model Y costs in your state
In six sample states, a 2024 Tesla Model Y runs from about $1,800 a year in North Dakota through South Dakota, Washington, Mississippi and Maryland to about $3,230 in Texas:
- North Dakotaabout $1,800/yr · +$1,190 teen
- South Dakotaabout $2,170/yr · +$1,430 teen
- Washingtonabout $2,310/yr · +$1,530 teen
- Mississippiabout $2,610/yr · +$1,720 teen
- Marylandabout $3,000/yr · +$1,980 teen
- Texasabout $3,230/yr · +$2,130 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.