The cost of insuring a Tesla Model S can vary significantly depending on several factors, such as the driver’s age, location, and the level of coverage chosen 🚗. Generally, the average annual cost for full coverage is around $2,912, which is much higher than the national average for all vehicles due to the Model S’s luxury status and high repair costs 💸.
The monthly insurance cost for a Tesla Model S can range from about $187 to over $400, depending on the insurance company and the specific policy details 📊. For example, USAA and GEICO often offer some of the cheapest rates, while companies like Liberty Mutual and Amica tend to be more expensive 📈.
In some cases, especially for high-performance models like the Model S Plaid, the annual insurance cost can be as high as $5,454, reflecting the vehicle’s advanced technology and higher value 🚀. Additionally, factors such as the driver’s credit score, driving history, and where the car is parked can also influence the insurance premiums 📍.
Overall, it’s important to compare quotes from different insurance companies to find the best rate for your specific situation 📝.