How Much Does Tesla Insurance Cost? Rates by Model
- by valuepenguin
- Sep 23, 2024
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Sep 26, 2024
The average cost of car insurance for a Tesla is $3,947 per year, or $329 per month.
Find Cheap Tesla Insurance Quotes in Your Area
Auto Tesla Insurance rates by Safety Score
While Tesla's insurance rates are very affordable for nearly all drivers, your rate drops even more if you have a high Safety Score.
A perfect score of 100 will get you a monthly rate of just $74 on a new Model 3. That's shockingly low compared to the overall average of $282 per month
Tesla adjusts rates according to five-point Safety Score increments. So if your average score falls between 95 and 99, your rate will increase to $87 per month
How does the Tesla Safety Score work?
Tesla's Safety Score works much like other telematics car insurance like Progressive Snapshot. The Tesla app monitors your driving habits and assigns a score between 0 and 100, with most drivers getting an 80 or above.
The biggest difference is that your score is the only thing Tesla considers when setting rates, so your actions have a big impact on what you pay each month.
Unlike many other telematics systems, Tesla is specific about what causes your score to go down:
Forward collision warnings (per 1,000 miles)
Hard braking (percent of time)
Aggressive turning (percent of time)
Unsafe following time (percent of time)
Forced autopilot disengagement (number of instances)
Your Safety Score is calculated daily, and a weighted average based on driving time is calculated over the last 30 days.
Average monthly Tesla Insurance rates by Safety Score
Safety Score
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