Teslas cost more to insure than conventional cars in same price range?

Teslas cost more to insure than conventional cars in same price range?

Maybe some will take this as a silly question, but I am wondering whether the auto insurers are charging/will charge a premium to insure Teslas because of the novelty of the technology and concerns about battery issues.
On the other hand, will some of the insurance costs be lower given the excellent safety test results? | 25. august 2013

Don't know if you will see this with all the spam-- my insurance costs were unchanged from my previous Lexus.

jackhub | 25. august 2013

There is another thread on this. My Tesla model S cost less to insure than my 2005 Buick. Yep, 2005 Buick. State farm. Covered in January before the crash tests.

Joshua Burstyn | 25. august 2013

My insurance was $20/mo more than a Hyundai Accent... :-)

cloroxbb | 26. august 2013

I think, because of it being the safest car tested, it should end up being at least a little less than normal. Of course it is still an expensive car, so it may offset the safe car discount.

Shouldn't be that much more, for most people. Depends on your credit, and your tickets, and your location.

JPPTM | 26. august 2013

...same $$ as my 2009 Lexus GS450h (which I sold 4 months ago before taking delivery of my S).

LionPowered | 27. august 2013

Which insurance companies? I have a Farmer's policy and it is significantly more expensive than what they charge me for a Lexus RX.

Time to shop around I guess!

David70 | 28. august 2013

It costs me less than $200 per year more than my 2004 Chevy Classic.
Seems very reasonable to me.

kenneth.chapman | 28. august 2013

Yep - I just got my rate today and Model S was 180 a year less than my 2004 Infiniti G35

EVMD | 30. august 2013

Nope I called Geico to get a quote for my new MS, in fact the quote still the same no changes replacing my Jaguar XF

JackB | 30. august 2013

Less than $100/month for a P85 with State Farm in Reno, NV. I paid more in 2003 to insure my Prius!

Jack Bowers

generubin | 31. august 2013

My cost is very close to the same as my Honda Civic Hybrid with Kemper Insurance

Maryishikawa | 31. august 2013

I'm an Allstate agent in California and enthusiastic Tesla owner. My commercial policy with $1M liability is $1,300 annually. On a personal auto policy with lower limits, it's less. I have a clean driving record & no accidents.
When I was shopping for my Model S, I met gentleman who was looking for a used roadster. He obtained my business card because he had been quoted $10K by another carrier as he had points on his record. He insured his roadster with us for 20% of what he was quoted by that other carrier.
Bottom line, get quotes from multiple reputable carriers. If mine is damaged in an accident, I want to take it to a high end body shop and not have an issue with the labor rate charged. Drive Happy! Mary
(you can find me at

JOED | 01. september 2013

I live in nj and my model s is less than my 2005 jeep and 2013 mercedes e350! And that was prior to crash test! | 02. september 2013

Same experience here - 6 month premium through USAA was about the same as for my 2007 Infiniti.


Jack_L | 04. september 2013

My MS will be $240/year less than the 2007 Ford Explorer it will replace later this month. If I keep it long enough it will be essentially free!

Brian H | 04. september 2013

At $240/yr, about 300 yrs. Maybe 400. Or, considering PV of the savings stream, about 4000 yrs.

olanmills | 09. september 2013

Insurance companies make money on math and statistics. They won't insure the Model S at a significantly different price unless they have the data to justify it.

What they do do though is if they don't have enough data on something, they will base their prices on some general assumptions that would play it on the safe side (for them), or else they might just choose not to insure that thing at all, but what they don't do is just make up expensive policies for an EV just because it's different.

markkiernan | 09. september 2013

Here in Italy I read that the Roadster costs about the same as Chevy Spark, don't have any details on the Model S, if logically it should be the same.

EVMD | 09. september 2013

Way less than my Jaguar

mario.kadastik | 16. september 2013

Initial offer was 8x more expensive than comparable cars. Main reason: no Tesla SC in my country... Working hard to get it down though...

Mark22 | 16. september 2013

$5 more a month than our 2012 Chevy Volt.

Timo | 16. september 2013

How does SC affect insurance? Did you mean Tesla service center with SC, and not super charger (same initials)?

Brian H | 17. september 2013

Yeah, it's used for both. Context usually indicates which.