Is There Any Value in Tesla Auto Insurance?

Tesla Insurance is an insurance product that can save Tesla vehicle owners up to 30% on their premiums compared to the industry standard.

The primary factor that insurance companies consider when determining premiums is the average cost to repair a given vehicle model after an accident, which is why Tesla insurance is so expensive.

Insuring your Tesla is something most major auto insurers will do,

though you can expect to pay a premium reflective of the car's status as a luxury model.

While Tesla insurance may not be the most affordable choice for all drivers,

it is designed to meet the specific needs of Tesla owners, including the car's unusual maintenance and repair requirements.

EXPERT ADVICE FROM MONEYGEEK Keep in mind that Tesla only provides auto insurance,

so you won't be able to take advantage of the Home & Auto Policy Bundle to save money.

Insurance for a Tesla vehicle is likely to be more expensive than the national average because the best policy will include both required and voluntary coverage.

Insurance for a Tesla model is typically more expensive than the national average for comprehensive coverage ($1,730 yearly).

Insuring a Tesla Model 3 with multiple insurers can result in annual savings of hundreds of dollars.

When compared to the average cost of auto insurance from other providers, Tesla claims its drivers can save up to 30 percent.

which can also increase premiums. Ultimately, it all adds up to higher insurance rates for Tesla owners.