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Tesla Model S Insurance Cost

There are many options when finding cheaper insurance coverage on your Tesla vehicle. You can buy direct from your neighborhood insurance agent or price shop online to check prices from a lot of auto insurance companies. Comparing auto insurance through online companies is simple to do and there is a good chance you will probably save money.

Using the web to shop for auto insurance direct can be a challenge if you have never used online quoting. But don't be discouraged because there is an easy way to compare rates. Finding cheaper coverage prices is not a difficult process. All you need to do is take the time comparing rates online with multiple companies. This can be done by completing this short form.

Insurance rates on a Tesla Model S can fluctuate considerably subject to many criteria. Some of these factors include:

  • More performance equals higher cost
  • Accidents raise premiums
  • Home and auto can earn discounts
  • Pleasure use vs. commuting use
  • Your birth date
  • Having a spouse can save money
  • Extra coverages like towing and rental
  • No claims lowers premiums
  • Maintaining coverage lowers rates
  • Whether you own your home

One last important factor that can impact the rate you pay on your Tesla is the year of manufacture. New vehicles have a higher value so the payout to repair may result in higher rates. But newer vehicles may have options including active head restraints, traction control, and a rollover prevention system which may give discounted rates.

To get more specific information about how much rates will be for your vehicle, select the year of your Model S below.

Coverage for liability

Model S liability coverage can cover damage that occurs to people or other property. Liability can pay for things like legal defense fees, bail bonds, and repair bills for other people's vehicles. This coverage is usually fairly inexpensive so purchase as high a limit as you can afford.

Collision protection

This coverage covers damage to your Tesla resulting from a collision with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage. Collision coverage for your Model S can be pricey, so consider removing coverage from vehicles that are 8 years or older. It's also possible to choose a higher deductible to save money on collision insurance.

Comprehensive coverage (or Other than Collision)

This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage. The most you'll receive from a claim is the market value of your vehicle, so if the vehicle's value is low it's probably time to drop comprehensive insurance.

Uninsured or underinsured coverage

Your UM/UIM coverage protects you and your vehicle when the "other guys" either are underinsured or have no liability coverage at all. Because many people have only the minimum liability required by law, their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea.

Insurance for medical payments

Coverage for medical payments and/or PIP reimburse you for short-term medical expenses for things like nursing services, prosthetic devices, and dental work. They are used in conjunction with a health insurance program or if there is no health insurance coverage. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage.

How Much are Tesla Model S Insurance Rates?