Insurance costs seem to have skyrocketed for all vehicles over the past year. For example, in 2023, I was paying about $130/month for my Tesla Model X (2023). For 2024, that amount has basically doubled to $250/month.
Here’s my info:
Insurance is tough to compare accurately without considering factors like driving history, location, and coverage specifics. Two neighbors could have drastically different premiums. There’s also been a general increase in rates across the board.
My wife and I live in the Philly suburbs, late 20s, spotless record. We pay $85/month with Connect for our 2024 MYP. Rates went down slightly after turning 25.
Blane said:
My wife and I live in the Philly suburbs, late 20s, spotless record. We pay $85/month with Connect for our 2024 MYP. Rates went down slightly after turning 25.
I’m early 20s and paying $230/month for an M3LR. It’s rough being a young driver with an expensive car.
I recently looked into adding a Tesla Model S Plaid to my USAA policy. With full coverage and a $500 deductible, it would cost $381/month. Comparable to other high-end cars I’ve insured.
37M with a spotless record, 2024 MYLR in Texas. I pay $140/month on average with Tesla Insurance, and my rate goes down slightly with a better Safety Score. At 100, it’s around $111/month.
2023 Model 3 in California, Tesla Insurance. I’m paying $180/month, which is better than what AAA quoted me.
2022 Model Y in Las Vegas. $114/month with Tesla Insurance, 30M, Safety Score 99.
Colorado Springs, 2024 Model Y Performance. Tesla Insurance costs me $140-$160/month with an average Safety Score of 90. Rates are impacted by forward collision warnings.
Insurance costs seem heavily tied to location. In Spain, I pay €890/year for a Tesla Model Y Long Range, which includes roadside assistance and legal protection.
Tesla switched their underwriter in Texas in early 2024, which drove my rates up significantly. I ended up switching to Progressive.
2023 Model Y in Georgia, USAA. I pay $1,060 every six months, but rates here are generally high. Adding an umbrella policy also helps.
26M in North Carolina with a 2024 Model Y Standard Range RWD. I pay $64/month with Progressive, bundled with home insurance. Full coverage, $500 deductible.
21M, 2021 M3LR. Progressive charges me $400/month for full coverage despite a spotless record. Young drivers definitely get hit hard.
37M in Texas with a 2024 Model Y Long Range. I pay about $150/month with Tesla Insurance. My Safety Score usually hovers around 97.
In Ontario, Canada, I pay $550 CAD/month for my 2021 Model 3. Clean record, 30+ years old. It’s significantly more expensive here compared to the US.