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Best Tesla Insurance for Model S, Model 3 and Model X (updated 2022)

Psst! Switching your bank can help fight climate change!

January 12, 2022

What is the problem with insuring Teslas, anyway?

Many freshly-minted Tesla owners are getting quotes that are way higher than for similarly-valued ICE cars, while others are getting quotes that are lower. This seems strange to us. So is Tesla’s auto insurance more expensive than similarly-priced gas cars?

So… are they more expensive to insure?

In a word – no. In 2022 they cost the same or less to insure. They cost the same as any other vehicle in their price range to insure, and often way less. The partially higher quotes is because they are still a “new” phenomenon for mainstream auto insurance companies and many agents at insurance companies don’t YET know how to properly value them. There is nothing inherently more expensive about electric cars to insure. In fact, they are often and should also be cheaper.

This is why we started electrade – to break down this barrier to entry for electric car adoption even further. More here. We make it easier to find cheaper insurance for your electric car with our by being the first EV-only insurance service. If you want to shop around on your own however, please find below our top 3 pieces of advice we’ve learned in the field.

You shouldn’t be paying more. You should be paying the same – or less – in 2022.

Need a Tesla charger? Check out our guide for the best Tesla chargers

Special tip #1: Know what makes up your quote.

The agent you get on the line, the state you are in, and the company will all vary, even for the same driver, vehicle, history etc. But these common factors all have an influence.

  • Which ZIP you’re in
  • If you’re in a city, electric car insurance is going to cost more
  • Whether it’s a used or new electric vehicle
  • If you bought used, the original purchase price of your car
  • Other things like whether you’re married, have a degree, and how your car is financed
  • Your EV model

Read more on how companies build your quote.

Special tip #2: Make sure your vehicle is being priced correctly.

Not everyone knows electric vehicles yet. Know the benefits of insuring an electric vehicle, like better driver-assist features, lower center of gravity, better handling in bad conditions, so far demographically safer drivers, and many other upsides. Factors include:

  • Less likely to be in a crash
  • Safer in a crash
  • Less likely to be in a crash #2
  • Easier to track in case of theft
  • Less likely to be totalled
  • More insurable drivers

Read full list and explanations here.

Okay Okay – so who’s the best for 2022? Our Picks…

Well… it depends on your region and the coverage you want, as does it who your local repair shops support. But if you’re shopping by price try every single company and don’t stop until you have a satisfactory quote. Go down the list of all top US insurers in the article linked below, and contact us if one is missing. All you need is one good quote, and a little busywork can save you large amounts of money in the long run. Also, re-negotiate your deal every time your auto insurance policy runs out. Alternatively, we can do this part for you – see below.

  1. Travelers
  2. AllState
  3. State Farm
  4. Progressive
  5. AAA
  6. Costco Ameriprise (Costco Members Only)
  7. Liberty Mutual
  8. Amica (Allstate)
  9. Geico
  10. Farmers
  11. Nationwide
  12. USAA (Military Families only)

Find more including demo quotes list here.

Thank you for reading, and thank you for supporting the electification of transport. ⚡️