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J.J. Starr is an insurance and personal finance expert who has been writing for Compare.com since 2022. Her work has been published across the web, appearing on sites such as Insurify.
Prior to writing for Compare.com, J.J. was a registered banker and life insurance consultant, holding a Series 6, FINRA, and life insurance license. She also earned a master’s degree in writing from New York University.
J.J. has a passion for helping people save money by explaining complex topics like car insurance in a way that is simple and easy to understand.
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Becky Helzer is an insurance and personal finance editor who has worked with Compare.com since 2025. A seasoned editor, Becky has experience working with content across several industries, including P&C insurance, home finance, technology, and home improvement. She has a passion for breaking down complex topics into clear, easy-to-understand copy.
Becky earned a bachelor’s degree in technical journalism from Colorado State University.
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The Tesla Model Y has a sleek design and was awarded a 2024 Top Safety Pick+ by the Insurance Institute for Highway Safety.[1] But insuring one isn’t cheap. Tesla Model Y drivers pay an average of $236 per month for coverage, while the national average for all vehicles is $152, according to Compare.com data.
The Model Y’s high repair costs and specialized parts contribute to the higher-than-average insurance costs. Still, some drivers save a lot of money by working with non-conventional companies. Mile Auto, for example, offers some of the cheapest rates, with policies costing an average of just $145 per month.
But no single insurer is right for everyone. We analyzed average rates, customer feedback, discounts, and coverage options to identify the best car insurance companies for several types of Model Y drivers.
Insuring a Tesla Model Y costs $236 per month, compared to $152 for all vehicles.
Low-mileage drivers can save the most with pay-per-mile insurance.
Model Y insurance rates vary widely by state, from $117 per month in North Carolina to $600 in New York.
The average cost to insure a Model Y depends largely on the type of auto policy you buy. Liability-only policies and state-minimum insurance are typically the cheapest options. But they don’t protect your vehicle in an at-fault accident or if the driver at fault is underinsured.
Full-coverage policies are more expensive because they include comprehensive and collision insurance. And if your car is financed, lenders typically require you to have full coverage.
Here’s how average premiums compare across policy types, according to data from Compare.com.
Vehicle  | Average Monthly Premium: Liability | Average Monthly Premium: Full Coverage | Average Monthly Premium: All Policies |
|---|---|---|---|
| Tesla Model Y | $166 | $306 | $236 |
| All vehicles | $107 | $197 | $152 |
Tesla Model Y insurance costs an average of $166 for liability-only coverage and $306 for full coverage. But broad averages don’t provide a detailed picture, so let’s take a look at how different factors influence costs.
Just because the average Tesla Model Y driver pays $236 per month for insurance doesn’t mean you’re stuck with a high premium. Many companies are well known for cheaper-than-average premiums.
The table below shows the five cheapest auto insurance companies on average for Tesla Model Y drivers, based on research from Compare.com.
Company | Average Monthly Premium |
|---|---|
| Mile Auto | $145 |
| Safeco | $156 |
| Elephant | $169 |
| Just Insure | $171 |
| Mercury | $172 |
Mile Auto, a pay-per-mile insurer, offers the cheapest average rates, at $145 per month. But just because a company is the cheapest in general doesn’t mean it’ll be the cheapest option for you. It’s a good idea to compare quotes before choosing an insurance policy.
Compare quotes from America’s cheapest insurers.
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No single insurance company is “best” for every Tesla Model Y driver. What works for one person won’t suit everyone. Finding the best car insurance for your needs depends on your driving habits, budget, and coverage priorities.
The list below highlights top insurers based on criteria like average rates, discounts, customer ratings, and coverage options.
Whether you prioritize easy policy management or luxury protection, we’ve identified the best options available.
Compare.com Rating: 4.90 out of 5
Offers vanishing deductibles
Gap coverage available
Excellent claims satisfaction ratings
Below-average customer satisfaction ratings in some regions
Fewer discounts than competitors
Policy costs often higher than average
With Nationwide, you can get a highly customized policy and manage it with the company’s online and mobile tools. You can also work with a designated agent for a personalized touch.
Plus, Nationwide offers accident forgiveness, vanishing deductibles, and additional bells and whistles. While the company lacks EV-specific discounts, it provides savings opportunities for bundling and safe driving. It also offers two usage-based insurance programs, SmartRide and SmartMiles.
But customer satisfaction scores are below average in some regions, according to J.D. Power, and policy costs tend to be higher than average.
Compare.com Rating: 4.18 out of 5
Offers agreed-value coverage
Offers liability limits up to $10 million
Up to $15,000 rental car reimbursement
Must work with an agent
Higher-than-average costs
Not available in all states
Chubb specializes in luxury car insurance policies, making it an excellent option if you want concierge service. You can get a policy with extended coverage limits, OEM parts replacement coverage, and agreed-value coverage (which means Chubb will pay out an agreed-upon amount if you total your car).
Plus, you can save money with the company’s telematics program, SafeLane.
But Chubb isn’t available everywhere, and you’ll likely find higher-than-average premiums. The company also earns a D- from the Better Business Bureau (BBB).
Compare.com Rating: 2.98 out of 5
Protects your privacy
Cheap policies for low-mileage drivers
Easy quote process
Many negative customer reviews
Available in only seven states
No daily mileage caps
If you drive fewer than 10,000 miles annually, Mile Auto may offer you a cheap premium for your Model Y. It bases your rate on your monthly mileage but offers strong privacy protection if you’re concerned about tracking.
But Mile Auto operates in only seven states, and customer feedback on Trustpilot is mostly negative, especially regarding its claims process. The company is also unaccredited by the BBB and has an F rating.
Compare rates from America’s cheapest car insurance companies.
The age of your car can indirectly affect insurance premiums because newer vehicles typically have higher values, making them more expensive to repair or replace. Because insurers base premiums partly on a car’s value, a newer Tesla Model Y usually costs more to insure than an older one with a lower market value.
The table below shows how average Tesla Model Y premiums change based on model year. It also lists the companies that offer the cheapest average premiums for each, based on Compare.com data.
Model Y Model Year | Average Monthly Premium | Cheapest Insurer | Cheapest Insurer’s Average Monthly Premium |
|---|---|---|---|
| 2025 | $244 | Safeco | $158 |
| 2024 | $245 | Mile Auto | $150 |
| 2023 | $225 | CSAA | $128 |
| 2022 | $224 | Mile Auto | $134 |
| 2021 | $245 | Elephant | $161 |
| 2020 | $248 | Mercury | $178 |
Now that you understand how the model year affects Model Y insurance costs, let’s review how your location also affects rates.
Where you live has a significant effect on your car insurance rates. Each state and ZIP code has different claim frequencies, crime rates, population density, traffic patterns, and weather, all of which can affect insurance costs.[2]
Here’s a rundown of average car insurance premiums for the Tesla Model Y by state, based on data from Compare.com.
State | Average Monthly Premium |
|---|---|
| Alabama | $155 |
| Arizona | $208 |
| Arkansas | $298 |
| California | $300 |
| Colorado | $244 |
| Connecticut | $474 |
| Delaware | $289 |
| Florida | $304 |
| Georgia | $309 |
| Idaho | $157 |
| Illinois | $194 |
| Indiana | $168 |
| Iowa | $141 |
| Kansas | $191 |
| Kentucky | $304 |
| Louisiana | $281 |
| Maine | $185 |
| Maryland | $429 |
| Massachusetts | $235 |
| Michigan | $365 |
| Minnesota | $235 |
| Mississippi | $235 |
| Missouri | $228 |
| Montana | $190 |
| Nebraska | $219 |
| Nevada | $371 |
| New Hampshire | $143 |
| New Jersey | $247 |
| New Mexico | $180 |
| New York | $600 |
| North Carolina | $117 |
| North Dakota | $180 |
| Ohio | $158 |
| Oklahoma | $202 |
| Oregon | $200 |
| Pennsylvania | $203 |
| Rhode Island | $179 |
| South Carolina | $342 |
| South Dakota | $151 |
| Tennessee | $176 |
| Texas | $276 |
| Utah | $227 |
| Vermont | $169 |
| Virginia | $225 |
| Washington | $174 |
| Washington, D.C. | $354 |
| West Virginia | $180 |
| Wisconsin | $158 |
| Wyoming | $151 |
The next section covers how other important factors affect rates, starting with your age.
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Your age also plays a major role in determining your car insurance costs. Researchers at the Centers for Disease Control and Prevention (CDC) note that younger drivers typically face higher premiums due to a greater likelihood of accidents.[3]
On the other hand, senior drivers generally pay less because they tend to drive less and have lower accident rates. Costs may rise again once you reach your 70s, though, as accident frequency increases due to slower reaction times.[4]
Here’s how age affects Tesla Model Y insurance rates and the cheapest insurer for each age group, according to our data.
Age Group | Average Monthly Premium | Cheapest Insurer | Cheapest Insurer’s Average Monthly Premium |
|---|---|---|---|
| Teens | $444 | Mile Auto | $273 |
| 20s | $304 | Mile Auto | $187 |
| 30s | $236 | Mile Auto | $145 |
| 40s | $216 | Mile Auto | $133 |
| 50s | $194 | Mile Auto | $119 |
| 60s | $182 | Mile Auto | $112 |
| 70s | $196 | Mile Auto | $120 |
Compared to all other age groups, teen drivers pay the highest Tesla Model Y insurance rates, at $444 per month. Fortunately, premiums decrease significantly once you reach your 20s, and by age 30, you’ll likely pay relatively cheap rates.
Your premiums continue to decline with age before rising again in your 70s, with drivers in this age group paying an average of $196 per month.
Your driving history is another factor that plays a major role in how much you pay for car insurance. If you have a clean driving record, you’ll likely enjoy lower premiums and safe driver discounts. On the other hand, drivers with tickets or accidents tend to pay more, as insurers see a history of incidents like these as a sign of increased risk.
The table below shows the average monthly premiums and the cheapest companies for the Tesla Model Y based on driving history, according to Compare.com data.
Driving Record | Average Monthly Premium | Cheapest Insurer | Cheapest Insurer’s Average Monthly Premium |
|---|---|---|---|
| Clean record | $236 | Mile Auto | $145 |
| Speeding ticket | $328 | Mile Auto | $202 |
| At-fault accident | $342 | Mile Auto | $210 |
| DUI | $388 | Mile Auto | $239 |
Model Y drivers with a DUI pay the highest rates, which is consistent with average trends identified by Compare.com research.
Mile Auto offers the lowest rates to drivers in all groups. Drivers with DUIs pay just $239 per month on average — nearly 40% cheaper than the average insurer.
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The Tesla Model Y’s features can influence its insurance rates. Here’s a rundown of how top features affect costs:
Autopilot and full self-driving capability: Advanced driver-assistance systems enhance safety and have the potential to lower premiums. But high repair costs likely increase insurance rates.
Safety features: Standard safety features like forward-collision warning can reduce accident risk, leading to possible insurance discounts.
Battery and repair costs: The Model Y’s high-capacity battery and specialized parts increase repair costs, which in turn increase insurance premiums. The limited availability of aftermarket parts and the few Tesla-approved service centers also contribute to higher costs.
Glass roof: Panoramic glass roofs are expensive to replace if damaged, likely contributing to higher collision and comprehensive coverage costs.
Trim choices: High-performance trims, designed for faster acceleration, can lead to higher premiums due to the potentially increased risk of car accidents.
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Owning a Tesla Model Y doesn’t have to mean overpaying for insurance. Here are five strategies to lower your premium while maintaining solid coverage:
Drive less and use telematics. If you don’t drive much, consider pay-per-mile insurance or usage-based programs that track driving habits for potential savings.
Maximize discounts. Some insurers provide EV-specific discounts, multi-policy bundling (home, renters, or umbrella insurance), and usage-based programs that could significantly cut costs.
Opt for a higher deductible. Raising your deductible can lower your monthly premium. But since Tesla vehicles have high repair costs, ensure you can afford the out-of-pocket expense of a higher deductible if you need to file a claim.
Improve your credit. In states where credit affects insurance rates, better credit usually earns you lower premiums.
Compare quotes regularly. Insurance rates fluctuate, and today’s best deal might not be the best tomorrow. Get quotes from multiple insurers at least every six months to find the best rate.
Compare personalized quotes from dozens of the nation’s top insurers.
The Tesla Model Y may be a popular electric SUV, but its insurance costs and coverage options vary. Here are answers to the most common questions about insuring it.
Yes. The Tesla Model Y is generally more expensive to insure than many gas-powered SUVs. We found that insuring the average Model Y costs around 55% more than for other vehicles. Factors like its high repair costs, advanced technology, and expensive battery increase premiums. But choosing the right insurer and taking advantage of EV discounts can help lower costs.
The best Tesla Model Y insurance depends on your needs. Mile Auto offers the cheapest average rates, followed by Safeco, Elephant, and Just Insure, according to our data. Progressive, GEICO, and State Farm also provide solid coverage. Prioritize policies with EV discounts, OEM parts coverage, and roadside assistance.
The Tesla Model 3 typically costs slightly more to insure than the Model Y — $255 per month versus $236, respectively, according to our data. Prices vary based on location, driving history, and coverage level, so get personalized quotes to understand the price options available. Tip: you can do this before you choose your Tesla model.
Data scientists at Compare.com analyzed more than 50 million real-time auto insurance quotes from more than 75 partner insurers in order to compile the rates and statistics seen in this article. Compare.com’s auto insurance data includes coverage analysis and details on drivers’ vehicles, driving records, insurance histories, and demographic information.
All the rates listed in this article have been collected from a combination of real Compare.com quotes and external insurance rate data gathered in collaboration with Quadrant Information Services. Compare.com uses these observations to provide readers with insights into how auto insurance companies determine their premiums.
Compare.com's #1 goal is to save you money. We publish resources that are based on hard-hitting data and years of industry experience to help you make more informed decisions with your wallet.
Learn more about us, our team, and what makes us tick.
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J.J. Starr is an insurance and personal finance expert who has been writing for Compare.com since 2022. Her work has been published across the web, appearing on sites such as Insurify.
Prior to writing for Compare.com, J.J. was a registered banker and life insurance consultant, holding a Series 6, FINRA, and life insurance license. She also earned a master’s degree in writing from New York University.
J.J. has a passion for helping people save money by explaining complex topics like car insurance in a way that is simple and easy to understand.
Becky Helzer is an insurance and personal finance editor who has worked with Compare.com since 2025. A seasoned editor, Becky has experience working with content across several industries, including P&C insurance, home finance, technology, and home improvement. She has a passion for breaking down complex topics into clear, easy-to-understand copy.
Becky earned a bachelor’s degree in technical journalism from Colorado State University.
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