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Tesla Model S Insurance Rates

You have many choices when insurance shopping for your Tesla vehicle. You can either contact an agent or get quotes online to compare insurance costs of insurance providers. Finding cheaper car insurance by comparing rates online saves time, is easy to do, in addition you can save money.

Finding the best direct price on car insurance can be complicated if you are a beginner to online quotes. But relax because it's actually quite easy. There are several ways to get quotes and find the best price. The easiest way to find the cheapest Model S insurance cost is to perform an online rate comparison. This is very easy and can be done by getting a quick quote here.

Criteria which help determine car insurance premiums

Car insurance premiums paid to insure a Tesla Model S can vary widely and are calculated by many factors. A few of these criteria are:

  • High performance increases premiums
  • Any accidents you may have
  • Home/auto policy bundles save money
  • How you use your vehicle
  • Optional coverages like vehicle replacement
  • Your occupation
  • Insurance coverage level
  • Owning a home can lower rates

An additional factor which can affect Model S insurance rates is the year of the vehicle. Models that are a few years old have a much lower replacement value than newer models so the costs to repair may end up costing you less. Although more recent Tesla vehicles may have safety features included like automatic crash notification, sideview assist mirrors, blind-spot warning system, and all-wheel drive which can help offset higher rates.

To get a better understanding how much rates will be for your vehicle, select the year of your Model S from the following list.

Auto liability insurance - This will cover injuries or damage you cause to a person or their property that is your fault. Liability coverage pays for claims such as funeral expenses, loss of income, and emergency aid. It is cheap coverage so you should buy higher limits if possible.

Collision - This will pay to fix damage to your Tesla from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible then the remaining damage will be paid by your insurance company. This coverage can be expensive, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to raise the deductible in order to get cheaper Model S insurance rates.

Comprehensive insurance - This covers damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage. The maximum payout a car insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle's value it's not worth carrying full coverage.

UM/UIM Coverage - This coverage provides protection from other motorists when they are uninsured or don't have enough coverage. Since a lot of drivers carry very low liability coverage limits, it doesn't take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked.

Med pay and Personal Injury Protection (PIP) - Personal Injury Protection (PIP) and medical payments coverage kick in for bills such as ambulance fees, surgery, and doctor visits. They can be used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. PIP coverage is only offered in select states and may carry a deductible.

How Much are Tesla Model S Insurance Rates?