Safety Score : There are five main components to the “Safety Score” calculated by Tesla.They’ll receive greater benefits if they have to file an auto claim, though, so it’s worth it for many Tesla drivers. Chosen coverage : Those who select more extensive coverage or have high limits on their Tesla insurance plans will likely be charged more.They’ll pay less upfront for auto repairs, though. Deductible : Drivers who choose a low insurance deductible will pay higher monthly rates for car insurance.

Miles driven : Those who put large numbers of miles on their vehicles will likely end up paying steeper rates for Tesla insurance.

Location : Rates will vary based on the state you live in, but they could also change within your state based on the presence and severity of risk factors.

Tesla model : More affordable cars like the Tesla Model Y are often cheaper to insure than higher-end ones like the Model X.

The company employs an unusual method, setting its own insurance rates based on the factors below: Monthly premiums change with any provider, but they’re particularly variable with Tesla insurance. Another HLDI study found that Tesla models are significantly more expensive to repair after collision and comprehensive claims. Auto insurance for Tesla models tends to be pretty expensive, and rates will usually be higher than the national average of $1,730 per year for full coverage.Ī 2017 report from the Highway Loss Data Institute (HLDI) concluded that Tesla owners were more likely than the average driver to get into an accident.

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