I was reading about Tesla insurance costs, and wow… it seems like it’s a bit higher than other cars. They say the average is around $329 a month. Anyone else think that’s steep? Or does anyone here pay less?
I’ve heard that too. I think Model Y is the cheapest Tesla to insure at about $255 per month, while the Model S is way up there around $413.
Briar said:
I’ve heard that too. I think Model Y is the cheapest Tesla to insure at about $255 per month, while the Model S is way up there around $413.
Yeah, Model Y being a crossover makes it cheaper. Sedans like the Model 3 and big SUVs like the Model X seem to have higher rates.
@Aubrey
Makes sense… crossovers tend to get better insurance rates. I bet it’s because of the design and safety ratings.
Has anyone tried Tesla’s own insurance? I’ve read they have the best rates if you’re in one of the 12 states where it’s available. They say it’s about $169 on average, which is way lower than others.
Harlyn said:
Has anyone tried Tesla’s own insurance? I’ve read they have the best rates if you’re in one of the 12 states where it’s available. They say it’s about $169 on average, which is way lower than others.
I actually use Tesla Insurance, and it’s definitely cheaper than other companies, but my rate changes every month based on my driving. They use this Safety Score thing that tracks how I drive.
@Fifer
Interesting. So it’s kind of like those programs that reward safe driving, but it’s the main way they set the rate? How’s that working for you?
@Fifer
I’ve heard that some people aren’t happy with Tesla Insurance’s customer service, though. But the rates do sound better if you keep a high score.
If anyone’s looking at the Model 3, it’s around $282 per month for standard coverage. Not as high as the Model S or X but still pricey.
Ashwin said:
If anyone’s looking at the Model 3, it’s around $282 per month for standard coverage. Not as high as the Model S or X but still pricey.
That’s about right. I saw that upgrading to the Performance trim on the Model 3 bumps the monthly rate a bit more, like around $313.
@Vanya
Good to know. Seems like the Performance versions for most Teslas generally cost more to insure.
The reason Tesla insurance costs more is partly because they have to be repaired at certified Tesla shops, which charge more. Also, the parts and battery tech add to it.
Taylor said:
The reason Tesla insurance costs more is partly because they have to be repaired at certified Tesla shops, which charge more. Also, the parts and battery tech add to it.
True, and I think it’s also because of how Teslas accumulate miles faster, which insurance companies see as higher risk. Especially for long-distance drivers.
@Noor
Exactly. The Model S, with its aluminum frame, is also costlier to repair than steel frames, so even minor damage can get expensive.
I looked into other companies, and State Farm is the cheapest major insurer for Teslas after Tesla Insurance. They average around $218 per month.
Nevaeh said:
I looked into other companies, and State Farm is the cheapest major insurer for Teslas after Tesla Insurance. They average around $218 per month.
That’s interesting. I guess Tesla Insurance would still be the lowest if you’re in one of the covered states, though. Makes it hard to compare since it’s only available in 12 states right now.
@Charlie
True, it depends a lot on where you live. I hope they expand it, but until then, it’s not an option for everyone.