Is It Expensive To Insure A Tesla Model Y? Why?
Take a look at the chart below for options that various insurance companies are offering Tesla Y owners.
The cost of car insurance for a Tesla can vary greatly depending on which model and trim level you select,
along with other factors typically considered in car insurance rates.
The cost of each Tesla Insurance policy will vary depending on the individual,
including their driving record, as well as other factors that may
generally affect an individuals insurance rates.
If you are driving a Tesla Y, you can expect insurance costs to vary depending on trim, upgrades, and
what coverage levels you choose.
While individual situations will cause a substantial variation in your insurance premium,
MoneyGeek found that the average total Tesla Model Y insurance costs $2,878 annually (not bi-annually)
The average cost of auto insurance for Tesla Model Y is $2,756 a ye
ar, or $230 per month, when Tesla is your insurer,
making insurance for Tesla Model Y about twice as expensive as avera
ge auto insurance.
You should ideally look beyond the costs when choosing an insurer for Tesla Model Y.
MoneyGeek analyzes companies by factors like financial stability, customer satisfaction, affordability, and customer complaints
and found USAA to be the best auto insurance provider for this model.
Even when I did find an insurance provider that ultimately did offer coverage to our Tesla Model 3,
the cost of premiums was equal to the price of cars 50% higher than Teslas, so proportionately, much higher than equivalently priced cars.