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Tesla Model S Insurance Rates

You have lots of choices when trying to insure your Tesla vehicle. You can buy direct from an agent or price shop online to compare insurance costs of many different companies. Buying car insurance from online companies is simple to do and at the same time you can save money.

Shopping online for car insurance is challenging if you have never used online rate quotes. But relax because it's actually quite easy. There are several ways to compare quotes from local car insurance companies. The quickest method to find the cheapest Model S insurance quotes is to get quotes online. It is quite easy and can be accomplished by getting a quick quote here.

What influences the rate you pay?

Car insurance premiums paid to insure a Tesla Model S will vary greatly subject to many criteria. Taken into consideration are:

  • More performance equals higher cost
  • Your accident history
  • Multiple policies can save money
  • How you use your vehicle
  • Special coverage such as replacement cost
  • Your occupation
  • Your coverage level
  • Whether you rent or own your home

An additional factor that helps determine Model S insurance rates is the year of the vehicle. Older models have a reduced actual cash value than newer models so the costs to repair can decrease annual premiums. On the flip side, newer models may have safety features like lane departure warning system, dual-stage airbags, and sideview assist mirrors so those may help offset higher rates.

For you to have a better understanding of how much rates will be for your vehicle, select the year of your Model S from available model years below.

Liability coverage

Model S liability coverage protects you from damages or injuries you inflict on a person or their property in an accident. Liability insurance covers things such as emergency aid, pain and suffering, and medical services. This coverage is usually fairly inexpensive so you should buy as much as you can afford.

Collision coverage

Collision insurance pays for damage to your Tesla from colliding with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage. This coverage can be expensive, so consider removing coverage from older vehicles. Drivers also have the option to raise the deductible to get cheaper Model S insurance rates.

Comprehensive coverage

This covers damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle's value consider dropping full coverage.

Uninsured Motorist or Underinsured Motorist insurance

This provides protection when other motorists do not carry enough liability coverage. Since many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. That's why carrying high Uninsured/Underinsured Motorist coverage is very important.

Medical payments coverage and PIP

Med pay and PIP coverage reimburse you for expenses such as doctor visits, EMT expenses, and X-ray expenses. They can be used to cover expenses not covered by your health insurance plan or if you lack health insurance entirely. Personal injury protection coverage is not available in all states and may carry a deductible.

How Much are Tesla Model S Insurance Rates?