Are Tesla’s insurance coverage expensive or how much does it cost to insure a Tesla car? Currently, Tesla has started selling insurance to its customers in states like Texas. The insurance coverage rate actually depends on it proprietary “Safety Score”. It includes how safely and often you drive your Tesla car. Also, according to Tesla, factors that wouldn’t affect the rate includes accidents or driving violations.
However, if you are wondering how much it is to insurance a tesla car since tesla models is very expensive. The price of a tesla car insurance policy varies on the model and trim selected by you. Also, location, driving history. As well as the amount of car insurance coverage selected also affects the price of your policy. The truth is that Tesla’s car has a very high insurance rate than other luxury cars because of the repair cost which is too expensive.
Why is tesla insurance so high?
If you’re wondering why is Tesla car insurance so high or very expensive. Tesla is one of the most experienced and high luxurious cars in the world today. Everyone’s dream is to own a Tesla car. But the thing about Tesla cars is that it very costly and the maintenance cost is usually high. However, the reason why tesla insurance is so high is that the high cost of repair tends to increase the cost of collision coverage.
How Much Does Tesla Insurance Cost?
The cost of a car insurance policy for a Tesla car varies hugely on certain factors. That includes the model, trim you choose, and also other factors that are used in determining a car insurance rate. Some of which include driving history, location or region, and a number of coverages.
Doubtfully, among the list of all model of Tesla car, the Model Y cost less in insuring, meaning, it is not expensive to insure. Even for the fact that Model Y is not the cheapest tesla car made by Tesla. We found out the structure of the car allows the car to have cheaper insurance coverage. Also, the most expensive Tesla car to insure is the Model X, Tesla’s high-end SUV.
According to reports, the average cost of car insurance for a Tesla car is about $4,548 per year. Keep in mind, that there are other variables that can change the cost of a Telsa car insurance like location, model, and others.
What is the companies that offers the cheapest car insurance for a Tesla?
There are lots of auto insurance companies that offer members the incredible cost of an insurance policy. When looking for the cheapest insurance for any kind of car, the best method is to compare the rate across other insurance providers. However, based on our research, we found out that Progressive is one of the largest insurers. That offers the cheapest car insurance rates to insurance a Telsa car in California.
Also, you need to understand that the cheapest insurer for your car varies on the type o model, location and also driving history. For Tesla Model 3, the cheapest car insurance company to go for is Geico.