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 2024 car: pricier repairs outweigh fewer at-fault claims.
2024 Tesla Model Y, national average
about $2,690 a year (about $225 a month)
roughly $1,800–$3,900
An average 2024 car: about $1,940. An older Tesla Model Y costs less (below).
Priced: the 2024 Model Y Long Range AWD (the newest year our claims data covers), a 45-year-old, clean record, full coverage. Each state moves every car's price by the same share. How we got these.
A used Tesla Model Y, by model year
| Model year | Full coverage | Liability only | Adding a teen | Teen on their own policy |
|---|---|---|---|---|
| 2024 (0–3 years old) | about $2,690 | about $890 | +$1,780 | about $7,730 |
| 2022 (4–7 years old) | about $2,480 | about $890 | +$1,630 | about $7,110 |
We list the Tesla Model Y for 2020–2027. How much a car's age takes off is our own estimate.
The 2024 Tesla Model Y runs from about $2,590 a year (Model Y Long Range RWD) to about $2,690 (Model Y Performance AWD): the claims data differs by drive, body, 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
The Tesla Model Y for other drivers on their own policy, a year: 22–25, $3,500; 26–39, $2,990; 65 and older, $2,830.
Adding a 16-year-old with a Tesla Model Y
A new 16-year-old driving the Tesla Model Y adds about $1,780 a year ($150 a month), $500 more than with an average 2024 car.
For adding a teen, the Tesla Model Y ranks 7th most expensive of our 121 car pages.
That's the whole household's bill going up. Cheapest cars to insure for a teen.
Why the Tesla Model Y costs what it does
Its insurance claims against an average car's (HLDI):
- Repairs
- much higher than average
- Theft and weather
- about average
- Damage to others
- lower than average
- Injuries to others
- much lower than average
The part that fixes or replaces the Tesla Model Y: about $1,810, against $950 for an average 2024 car (90% more). The part that pays for harm to others: about $890, against $990 for an average car (11% less).
By the EPA's size classes it's a small SUV, and it's electric. The Highway Loss Data Institute groups it with midsize luxury SUVs.
- Expensive and electric cars can cost more or less to insure than their repair records suggest.
Matched to “Tesla Model Y electric 4dr 4WD” in HLDI's results.
Similar midsize luxury SUVs
Among these 9 midsize luxury SUVs, the Tesla Model Y is the 2nd most expensive to insure.
- 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)
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 we never pass your info to anyone. Only an insurer can give you a real price.