Tesla Model Y 2022 Car Insurance Cost

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Tesla Model Y car insurance at a glance:

  • Average car insurance for a 30-year-old driver: $2,648
  • The cheapest insurance companies for Tesla Model Y insurance: Worldwide, USAA and Erie
  • The cheapest state for Model Y insurance: Vermont
  • The most expensive state for Model Y insurance: California

The Forbes Wheels Group says the Tesla Model Y is an all-electric hybrid with advanced technology and entertainment features. Unfortunately, the Model Y is not eligible for federal income tax. But you can save money when you buy car insurance. Here we look at the cost of insurance for the Tesla Model Y.

Tesla Model Y Insurance Cost and Company

Tesla Model Y owners can save hundreds of dollars a year by comparing car insurance rates between multiple insurers. Among the major insurance companies we analyzed, Nationwide offers the cheapest Tesla Model Y car insurance. The cheapest in our analysis was USAA. If you don’t qualify for USAA car insurance as a veteran, member or family member, try a quote from Erie and State Farm.

Additionally, Tesla Insurance is available directly from Tesla.

Related: Best car insurance companies

Tesla Model Y Insurance Cost by State

State-by-state variation in Tesla Model Y insurance rates is often driven by past claims, medical costs, repair costs, state laws and more. California is the most expensive state for Tesla Model Y car insurance ($4,244 per year). Vermont is the least expensive ($1,616 per year).

Tesla Model Y Insurance Cost Based on Years of Driving

The cheapest age to insure a Tesla Model Y is 60, according to a Forbes Advisor pricing study.

Women and men between the ages of 30 and 70 pay the same amount to insure a Tesla Model Y. For example, women in their 40s pay only $12 more per year than men in their 40s.

The most expensive warranty age for a Tesla Model Y is 20 years and under. Gender is a valuable factor for young drivers. A 20-year-old female driver can pay about $800 more per year to insure a Model Y than a 20-year-old male driver.

There are several factors that determine the amount of your car insurance. This includes your driving record, your car storage address (where you keep the car), annual mileage, credit insurance premiums (higher credit risk), previous mortgages, car type, recent car insurance expiry . and the type and amount of insurance chosen.

Related: 9 Factors That Affect Your Car Insurance Rates

Tesla Model Y Insurance vs. Similar Cars

If you are considering buying a Tesla Model Y, you might also consider the Audi e-tron, Ford Mustang Mach-E or Volvo XC40 Recharge. Of these models, the Tesla Model Y is the most expensive to insure, on average.

Related: Most are the least expensive green car insurance

How to Save Money on Tesla Model Y Car Insurance

There are several ways you can reduce the cost of car insurance, such as:

  • Match the written words. Not all insurers buy Model Y policies the same way. The best way to get the best price is to compare car insurance quotes from several different companies.
  • Buy the right car insurance. While you want to make sure you have enough insurance, you also don’t want to pay for insurance you don’t need. Here’s a guide to finding out how much car insurance you need.
  • Get rewarded for driving well. Most insurance companies have a user-friendly insurance program, which tracks and evaluates your driving habits such as phone use, speed and speed. Once you prove that you are a good driver, you can get a discount.
  • Have good credit. Insurers in 46 states can use your liability insurance as a value. But not all insurers measure this in the same way, so it’s important to compare quotes.
  • Raise your deductible. Generally, the higher your car insurance premium, the less you pay. Common deductibles range from $100 to $1,000 (and higher).
  • Ask for a discount. You can receive auto insurance discounts such as good driver discounts, good student discounts, multi-car and multi-policy discounts, and comprehensive discounts.

Related: Tesla Model Y review

Best Car Insurance Companies 2022

With so many options for car insurance companies, it can be difficult to know where to start in finding the right car insurance. We’ve reviewed insurers to find the best car insurance companies, so you don’t have to.

The way

Prices are based on drivers with a good record with $100,000 in bodily injury coverage per person, $300,000 in accidents and $100,000 in property damage coverage, uninsured motorist coverage and any other coverage required by the state. The price includes collision and comprehensive coverage with a $500 deductible. Prices are from Quadrant Information Services as of June 2022.