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We pulled car insurance quotes from top insurance companies across the US to find that the average monthly cost to insure a Tesla Model Y is $264.27 — or $3,171.24 a year. However, some other Tesla models may cost less to insure than others depending on which safety features your vehicle has and which insurer you choose. And your actual costs will depend on your driving history, age, ZIP and other specific factors.
| Model Year | Progressive | Geico | State Farm | Farmers | Average |
|---|---|---|---|---|---|
| 2021 Tesla Model Y | 323.45 | $224.78 | $248.42 | $260.42 | $264.27 |
Our rates are based on a single 30-year-old driver with a clean driving history living in California. California is one of seven states that doesn’t use gender to determine car insurance costs. We chose full coverage car insurance with liability limits that exceed the California state minimum requirements, which include:
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Expect a standard premium to match this Tesla’s standard theft rate, coverage and insurer choices. Factors that play into this premium:
This big-name electric delivers on savings for safety. Features that might qualify for discounts:
The main factors for this model’s above-average premium include:
Since the Model Y doesn’t have safety and reliability ratings yet, expect a similar safety profile to other Tesla models:
The Model Y is Tesla’s compact luxury SUV that comes available in three trim levels — the Long Range, the Performance and the Standard range starting at $39,990, $56,990 and $61,990 respectively. The Long Range model is equipped with a 480-horsepower delivered from a dual-motor drivetrain that can reach a top speed of almost 135 mph. Its 0-60 speed clocks in at 4.8 seconds and it can travel up an estimated 326 miles.
The electric SUV is small but roomy, offering enough space for seven in a third-row seating option. Take just about anything with you in the ample cargo space, with storage in the back made larger by folding down the rear seats, an added storage “tub” under the main rear cargo area plus a front trunk. It also offers a Class II hitch with a 3,500-lb towing capacity — so this model is super family-friendly for those who want to take the kids, the dog and the boat to the cottage for the weekend.
The Model Y is expected to have a low theft rate and high safety ratings based on previous models. That portfolio means you can expect an average premium for a luxury vehicle, although comparing insurers could bring that premium even lower.
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