The Tesla Model S sedan was arguably one of the first vehicles to prove that electric cars can offer fantastic performance, as well as being eco-friendly. This vehicle is characterised by great handling, zippy acceleration and luxury interiors. Its driving range of up to 400 miles is impressive too. However, this car is expensive to insure. In this guide, you’ll find out how much the Tesla Model S costs to insure based on the age and location of the driver.
What insurance group does the Tesla Model S fall under?
Every vehicle on the road is assigned a specific insurance group that ranges from 1 (cheapest) to 50 (most expensive) which helps determine the cost of your premium. The Tesla Model S belongs to insurance group 50, so it’s among the most expensive vehicles to insure.
Model / Version | Group (1-50) | 20yrs | 30yrs | 40yrs | 50yrs | Get quote |
---|---|---|---|---|---|---|
60kWh 5d | 50 | £16,407 | £2,537 | £1,889 | £1,807 | Get Quote |
70kWh (Nav) 5d | 50 | £16,407 | £2,537 | £1,889 | £1,807 | Get Quote |
70kWh Dual Motor (Nav) 5d | 50 | £16,407 | £2,537 | £1,889 | £1,807 | Get Quote |
85kWh (Nav) 5d | 50 | £16,407 | £2,537 | £1,889 | £1,807 | Get Quote |
85kWh 5d | 50 | £16,407 | £2,537 | £1,889 | £1,807 | Get Quote |
85kWh Dual Motor (Nav) 5d | 50 | £16,407 | £2,537 | £1,889 | £1,807 | Get Quote |
90kWh Dual Motor (Nav) 5d | 50 | £16,407 | £2,537 | £1,889 | £1,807 | Get Quote |
85kWh Signature Performance 5d | 50 | £16,407 | £2,537 | £1,889 | £1,807 | Get Quote |
85kWh Dual Motor Performance (Nav) 5d | 50 | £16,407 | £2,537 | £1,889 | £1,807 | Get Quote |
85kWh Performance 5d | 50 | £16,407 | £2,537 | £1,889 | £1,807 | Get Quote |
90kWh Dual Motor Performance (Nav) 5d | 50 | £16,407 | £2,537 | £1,889 | £1,807 | Get Quote |
Tesla Model S insurance cost by location
There are a range of other factors that affect the cost of your car insurance premium, not just the insurance group.
To show the impact of your home address, here are some average quotes for a 30-year-old living in three different locations. The quotes are for a Tesla Model S 60kWh 5d.
- Expensive: £5,145 (London SE1)
- Average: £2,537 (Newcastle NE1)
- Cheap: £2,591 (Galashiels TD1)
Which factors affect my Tesla Model S insurance rate?
Along with insurance group, there are a number of key factors that have the biggest impact on your insurance premium costs:
- Engine type and capacity. In general, the larger the engine, the more you’ll pay for your car insurance. However, as the Tesla Model S only has one engine size, there is no point of comparison with this vehicle.
- Driver location. Insurers use your home address to determine the level of risk that your car may be stolen or involved in an accident, and this affects the cost of insurance. For example, a 30-year-old in central London may pay £5,145 for insurance for a Tesla Model S 85kWh 5d, while the same 30-year-old in Newcastle may only pay £2,537. In this example, the Londoner would pay an extra £83 per year to insure the same vehicle.
- Driver age. The youngest drivers pay far more for car insurance because they are the most likely to make a claim on their policy. As an example, the average 20-year-old driver in London may pay £42,524 for the Tesla Model S 85kWh Performance 5d, while the average 40-year-old Londoner will only pay £4,234. So, in this example, the younger driver would pay an extra £982 per year to insure this vehicle.
Other factors that influence the cost of your insurance include:
- The model and trim of your car
- Your car’s age
- Your car’s safety rating
- Your car’s security features and anti-theft precautions
- Your car usage
- Your driving history and activity, including your no-claim discount
- Your marital status
- Your credit history
- Your occupation
How can I save on my Tesla Model S premium?
Car insurance can be expensive, but there are plenty of things you can do to prevent it breaking the bank. Here are some ideas to lower the cost of your premium.
- Limit your annual mileage (where possible). A lower annual mileage means less risk of getting into an accident on the road. So, insurers will lower your premium if you can use your car less. If possible, consider occasionally walking or taking public transport to lower your annual mileage.
- Pay annually rather than monthly. Some insurers charge interest when you pay your premiums monthly. So, pay annually to eliminate the possibility of these extra costs.
- Install extra safety precautions. By adding extra safety measures, you lower your risk of making a claim. That’s why many insurers are happy to lower your premium when you do so.
- Shop around for the best deal using price comparison websites. Don’t just settle for the renewal price given to you when it’s time to renew – there may be cheaper options out there.
Bottom line
The Tesla Model S combines environmental devotion with an enjoyable drive. However, at this time, a key problem with owning this car is sky-high insurance costs. Thankfully, the tips in this guide can help you reduce your insurance premiums.
Frequently asked questions
More guides on Finder
-
Why is car insurance so expensive?
Discover why your car insurance might have doubled and explore practical steps to lower your premium.
-
Range Rover Evoque insurance group and cost
Find out the cost and car insurance group of a Range Rover Evoque, and see how much you could pay based on age, location and model.
-
Low insurance group cars
Cars in low insurance groups are among the cheapest to insure, excelling in key factors that influence car premiums.
-
Skoda Kamiq insurance group and cost
Find out the cost and car insurance group of Skoda Kamiq, and see how much you could pay based on age, location and model.
-
Petrol prices around the world: Interactive map
Use our interactive map to find out the price of petrol in different countries around the world, including the UK and the US.
-
LV= car insurance review
Get the lowdown on the car insurance from LV= to see what’s included in the cover, pros and cons of the policy and whether it’s right for you.
-
Ford Kuga insurance group & costs
Read our comprehensive guide and find out how much it may cost you to insure a Ford Kuga and how to save on your car insurance premiums.
-
Ford Focus insurance group and cost
Read our comprehensive guide and find out how much it may cost you to insure a Ford Focus and how to save on your car insurance premiums.
-
How to get cheap car insurance
Good car insurance doesn’t have to be expensive. Compare cheap car insurance quotes to start saving today.
-
Get agreed value car insurance quotes online
Find out how agreed value car insurance works and if it’s the right option for you.