Your monthly premium for Tesla insurance depends on a number of factors,
including the model of Tesla you drive, your address, how often you drive, the type of insurance coverage you choose, and the vehicle's monthly safety rating.
Because Tesla's auto insurance is tied directly to a Tesla vehicle,
the company can adjust monthly premiums based on an individual's risk profile as determined by their actual driving habits.
Insurance companies base their premiums in large part on the expected repair costs for a given make and model,
which is why Tesla insurance is so pricey.
Compared to other luxury vehicles and EVs, the cost to repair a Tesla is quite high,
so the cost to insure it in the event of an accident is also quite high.
Due to the high cost of repairs, insurance companies have to spend more money settling claims related to accidents involving Teslas.
The result is higher-than-average premiums for Tesla car insurance.
Most major insurers do cover Teslas, but they charge higher premiums than is typical because the company is perceived to be a luxury brand.
Insurance premiums for Tesla drivers, especially those who make use of the Autopilot feature,
will be lowered with the help of the company's expertise in safety features and partially automated driving technology.
which can also increase premiums. Ultimately, it all adds up to higher insurance rates for Tesla owners.