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Tesla Model S Insurance Rates

Shopping for car insurance online saves time, is easy to do and at the same time you might just save a little. The key to finding lower rates is to take the time to get rates from as many companies as possible in order to have every option.

Comparing car insurance rates direct online is challenging if you are a beginner to online quotes. Don't let that stop you because comparing prices is actually very simple. When shopping for car insurance there are multiple ways to get quotes from different insurance companies. The quickest method to compare Model S insurance quotes consists of shopping online. It is quite easy and can be accomplished by comparing rates here.

What factors determine your insurance rates?

Auto insurance rates for your Tesla Model S can vary widely and are calculated by many factors. Taken into consideration are:

  • Tickets increase premiums
  • Credit rating
  • Where you reside can make a big difference
  • High miles vs. low miles
  • Men typically pay more than women
  • Deductible amount directly impacts your rate
  • Your vehicle's safety rating
  • What you do for a living
  • The level of coverage
  • Whether you rent or own your home

A final factor that will help determine Model S insurance rates is the model year. Older cars and trucks have a reduced actual cash value in comparison to older models so the payout to repair may end up costing you less. Conversely, more recent Tesla vehicles may have a trim level with safety features such as sideview assist mirrors, pedestrian detection, lane departure warning system, and tire pressure monitors which can lower rates.

To get a better idea how rates are influenced for your specific model year, select the year of your vehicle from available model years below.

Liability coverage

This will cover damages or injuries you inflict on other's property or people by causing an accident. Liability coverage pays for things such as emergency aid, pain and suffering, and medical services. It is cheap coverage so consider buying higher limits if possible.

Collision coverage

Collision coverage will pay to fix damage to your Tesla resulting from colliding with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are older. You can also bump up the deductible to bring the cost down.

Comprehensive coverage

Comprehensive insurance coverage pays for damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by your Tesla Model S comprehensive insurance. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if it's not worth much more than your deductible it's not worth carrying full coverage.

Uninsured Motorist or Underinsured Motorist insurance

This protects you and your vehicle's occupants from other drivers when they are uninsured or don't have enough coverage. Due to the fact that many drivers only carry the minimum required liability limits, it doesn't take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family.

Medical payments coverage and PIP

Personal Injury Protection (PIP) and medical payments coverage kick in for expenses (i.e. doctor visits, EMT expenses, and X-ray expenses). They are often utilized in addition to your health insurance policy or if you do not have health coverage. PIP coverage is only offered in select states and gives slightly broader coverage than med pay.

How Much are Tesla Model S Insurance Rates?