How to Buy Insurance / Teslas run up to $3k/yr more than similarly-priced vehicles

The Most Expensive Car Brands to Insure

Written by: Max Cho Reviewed by: Max Cho, Licensed Insurance Broker NPN 20377411

We built a database of tens of thousands of insurance quotes so that we can advise people about what the best insurance is for them. Along the way, we discovered that the median Tesla insurance will run you over $250 a month, or $3000 a year — the most of any popular car manufacturer.

Why is insurance for a Tesla expensive?

Two reasons: They’re expensive to repair, and they may have a higher crash likelihood.

More expensive repairs means more expensive collision and comprehensive insurance claims. Insurance is priced by the amount the insurance company will need to pay out, and Tesla claims seem to produce higher repair costs, so insurers charge accordingly.

Teslas may have a higher likelihood of crashing with significant insurance liability. “Full Self-driving” features can increase the risk of catastrophic Tesla crashes in which negligence is involved, which can lead to multi-million dollar payouts. The NHTSA is expanding its investigation of Tesla. While you as an individual driver can make safer choices behind the wheel, your insurance rates may rise because of the negligent choices of other people driving the same brand of car that you drive.

Want to better understand your car insurance?

Check out our guide to what influences your rates.

If you just want to get the best deal, let Coverage Cat do the hard worksign up and we’ll find you the best auto insurance for your specific financial situation.