10 Best Car Insurance Companies for Teslas in 2024 (Your Guide to the Top Providers)

Top Pick for Tesla: State Farm

17,759 reviews

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4.1

Table of Contents

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Company Facts

Full Coverage for Tesla

$420/mo

A.M. Best Rating

B

Complaint Level

Low

Pros & Cons

• One of the largest insurance companies in the US
• High levels of customer satisfaction
• Affordable rates for people with a speeding ticket or an accident on their record
• Wide variety of discounts available
• Rideshare insurance

• High rates for drivers with poor credit scores
• No gap coverage
• Options like new vehicle replacement, vanishing deductibles, and accident forgiveness are not available

» State Farm Car Insurance Review

17,759 reviews

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Best Coverage for Tesla: Progressive

13,128 reviews

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4.1

Company Facts

Full Coverage for Tesla

$814/mo

A.M. Best Rating

A+

Complaint Level

Low

Pros & Cons

• Competitive Rates
• Wide Range of Coverage Options
• Bundling Discounts

• Customer Service
• Claims Process
• Rate Increases

» Progressive Car Insurance Review

13,128 reviews

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Best Tesla Military Savings: USAA

6,435 reviews

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4.7

Company Facts

Full Coverage for Tesla

$310/mo

A.M. Best Rating

A++

Complaint Level

Low

Pros & Cons

• Offers multiple products including financial services and banking
• High customer satisfaction and financial ratings
• Rates are lower than average
• Coverage is available in all 50 states
• Easy-to-use mobile app

• Coverage isn’t available to everyone
• DUIs drastically increase rates
• SafePilot isn’t available in every state
• Customer complaints are higher than competitors

» USAA Car Insurance Review

6,435 reviews

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The top pick for the best car insurance companies for Teslas is State Farm, with Progressive and USAA also offering strong options.

State Farm stands out for its value, while Progressive and USAA provide comprehensive coverage and competitive pricing. This car insurance coverage guide reveals how to get the most value from Tesla insurance by comparing top providers for optimal protection and savings.

Our Top 10 Picks: Best Car Insurance Companies for Tesla

Company	Rank	Safety Feature Discount	A.M. Best	Best For	Jump to Pros/Cons
	#1	12%	B	Personalized Policies	State Farm
	#2	14%	A+	Coverage Options	Progressive
	#3	10%	A++	Military Savings	USAA
	#4	13%	A++	Affordable Rates	Geico
	#5	8%	A+	Add-on Coverages	Allstate
	#6	9%	A	Safe-Driving Discounts	Liberty Mutual
	#7	12%	A+	Usage-Based Coverage	Nationwide
	#8	10%	A	Various Discounts	Farmers
	#9	7%	A	Roadside Assistance	AAA
	#10	10%	A++	Specialized Coverage	Travelers

By considering these top insurance providers, you can make an informed choice that best suits your Tesla insurance needs.

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#1 – State Farm: Top Overall Pick

Pros

• Extensive Coverage: State Farm provides extensive car insurance options for Tesla, ensuring comprehensive protection.
• Discount Opportunities: Discover our State Farm insurance review to see the various discounts offered for Tesla drivers, including those for safe driving and bundling policies.
• Reliable Customer Service: Known for reliable customer support for Tesla owners.

Cons

• Limited Tesla-Specific Add-Ons: Car insurance companies for Tesla like State Farm may have fewer specialized add-on options.
• Average Discounts: Tesla drivers might find fewer exclusive discounts compared to other car insurance companies for Tesla.

#2 – Progressive: Best for Coverage Options

Pros

• Broad Coverage Options: View our Progressive insurance review to explore the diverse range of coverage options available specifically for Tesla vehicles.
• Customizable Policies: Tesla drivers can customize their coverage with unique add-ons.
• Flexible Rates: Competitive rates for Tesla insurance with adjustable policy features.

Cons

• Complex Customization: Customizing Tesla coverage with Progressive may be complicated.
• Service Speed: Some customers report slower response times from Progressive for Tesla insurance claims.

#3 – USAA: Best for Military Families

Pros

• Specialized Coverage for Military: USAA provides tailored Tesla insurance plans specifically for military families.
• Military Discounts: In our USAA insurance review, find out how military-affiliated drivers can benefit from significant savings on Tesla insurance
• High Customer Satisfaction: USAA is renowned for excellent service to Tesla owners.

Cons

• Eligibility Restriction: Only available to military families, limiting access for non-military Tesla owners.
• Limited Coverage Options: Tesla-specific coverage might be less extensive compared to other car insurance companies for Tesla.

#4 – Geico: Best for Affordable Rates

Pros

• Cost-Effective Tesla Insurance: Explore our Geico insurance review to see how the company offers some of the most affordable rates for Tesla insurance.
• Tesla Discounts: Includes multiple discounts for Tesla drivers, such as for safe driving and bundling.
• Easy Management: User-friendly online tools for managing Tesla insurance policies.

Cons

• Limited Coverage Options: Coverage for Tesla vehicles may be less comprehensive compared to other car insurance companies for Tesla.
• Customer Service: Some users report less personalized service for Tesla drivers.

#5 – Allstate: Best for Add-On Coverages

Pros

• Wide Range of Add-Ons: Allstate offers a variety of add-on coverages specifically for Tesla vehicles.
• Comprehensive Protection: Extensive protection plans available for Tesla drivers.
• Customizable Plans: With our Allstate insurance review, learn about the competitive pricing and extensive options available for tailoring coverage for Tesla.

Cons

• Higher Premiums: Add-on coverages can increase overall premiums for Tesla insurance.
• Claims Process: Claims processing for Tesla-related incidents may be slower.

#6 – Liberty Mutual: Best for Safe-Driving Discounts

Pros

• Generous Safe-Driving Discounts: Liberty Mutual provides substantial discounts for safe driving habits, benefiting Tesla drivers.
• Specialized Tesla Packages: In our Liberty Mutual insurance review, you can discover innovative coverage options designed specifically for Tesla vehicles.
• Customer Focus: Strong emphasis on driver safety with support tailored for Tesla owners makes Liberty Mutual car insurance recommended for Tesla.

Cons

• Discount Limits: Safe-driving discounts might not be as high as those from some other car insurance companies base on Liberty Mutual car insurance quote for tesla.
• Regional Limitations: Tesla coverage options might be restricted in certain areas, but a Liberty Mutual insurance quote for Tesla can provide more details.

#7 – Nationwide: Best for Usage-Based Coverage

Pros

• Usage-Based Tesla Coverage: Nationwide offers usage-based insurance that benefits low-mileage Tesla drivers.
• Behavior-Based Discounts: Discounts based on driving behavior are tailored for Tesla owners.
• Flexible Policies: Delve into our Nationwide insurance review to find adaptable insurance policies that suit Tesla drivers’ needs.

Cons

• Variable Rates: Rates can fluctuate widely based on usage and driving behavior.
• Availability Issues: Coverage options for Tesla may not be available in all regions

#8 – Farmers: Best for Various Discounts

Pros

• Multiple Discounts: Farmers provides a wide range of discounts for Tesla drivers.
• Customizable Plans: See our Farmers insurance review to learn about the flexible insurance plans tailored specifically for Tesla vehicles.
• Strong Customer Support: Reliable customer service for Tesla insurance needs.

Cons

• Higher Premiums: Discounts may not fully offset higher base premiums for Tesla insurance.
• Complex Options: The variety of discounts and coverage options might be overwhelming for some Tesla owners.

#9 – AAA: Best for Roadside Assistance

Pros

• Exceptional Roadside Assistance: Within our AAA insurance review, find out about the comprehensive roadside assistance offered specifically for Tesla owners
• Member Benefits: Additional perks and discounts for Tesla drivers who are AAA members.
• Reliable Support: Known for prompt and reliable roadside service for Tesla vehicles.

Cons

• Limited Insurance Coverage: Tesla insurance coverage options may be less comprehensive compared to other car insurance companies for Tesla.
• Membership Requirement: Roadside assistance benefits are exclusive to AAA members.

#10 – Travelers: Best for Specialized Coverage

Pros

• Unique Coverage Options: Our Travelers insurance review reveals the specialized insurance coverage available specifically for Tesla vehicles.
• Customizable Policies: Tesla owners can tailor their insurance plans with unique options.
• Innovative Coverage: Includes specialized protection for advanced Tesla technology.

Cons

• Higher Premiums: Specialized coverage options may lead to higher premiums for Tesla insurance.
• Limited Discounts: Fewer discount opportunities compared to some other car insurance companies for Tesla.

Evaluating Insurance Coverage for Your Tesla

Your Tesla is a valuable investment, and protecting it with the right insurance coverage is crucial. To ensure you’re receiving optimal protection, compare rates and coverage options from various insurance providers.

To find the best insurance for your Tesla, compare car insurance quotes and coverage levels from different providers. Here’s a snapshot of monthly insurance rates for Teslas across various companies:

Tesla Car Insurance Monthly Rates by Coverage Level & Provider

By evaluating these options, you can secure the best insurance coverage for your Tesla and drive with confidence.

When selecting insurance for your Tesla, consider these key types of coverage: Liability coverage protects against damages and bodily injury you may cause to others. Comprehensive coverage handles non-collision-related damages such as theft or natural disasters.

Collision coverage pays for damage to your Tesla from collisions, regardless of fault. Uninsured motorist coverage helps cover costs if you’re in an accident with a driver who lacks sufficient insurance. Roadside assistance provides support for issues like flat tires or breakdowns.

Essential Tesla Insurance Tips from Top Providers

Insuring a Tesla is like insuring any other car, with a few unique aspects. You’ll need to meet state minimum liability requirements, and if you have a loan, consider comprehensive and collision coverage. Even without a loan, these coverages offer added peace of mind. For additional details, explore our comprehensive resource titled “Collision vs. Comprehensive Coverage: An Expert Guide.”

However, Teslas come with their own set of challenges. Their advanced technology and high-end components can make repairs more costly compared to more conventional cars, which can influence insurance rates.

Insurance companies assess risk based on extensive data about claim frequencies and payouts, and with Tesla still being relatively new, there’s less historical data available. This can sometimes result in higher premiums as insurers account for the potential costs of repairs.

That said, don’t be discouraged. As Tesla’s safety record and claims data grow, insurance rates are likely to become more favorable. To get the best deal, make sure to compare quotes from the best car insurance companies for Tesla. They can offer tailored coverage options and discounts that reflect the unique attributes of your high-tech ride.

Discover the Best Tesla Insurance Rates by Model

Navigating insurance rates for your Tesla can be a game-changer in managing costs. In this guide, we’ll break down the best insurance providers for various Tesla models. For the Model 3, State Farm offers the most competitive rates, while Tesla Model 3 insurance cost with Geico provides a cost-effective option.

For the Model S, Progressive provides exceptional coverage options. The Model X benefits from the specialized plans and savings offered by USAA. For the Model Y, State Farm’s comprehensive protection is a top choice, and Liberty Mutual car insurance for Tesla compares favorably to other providers.

Liberty Mutual insurance recommended for Tesla offers generous safe-driving discounts, making it a strong option to consider. Additionally, Tesla Model Y insurance cost Geico provides another competitive option. For the Roadster, Progressive delivers the best coverage tailored to high-performance vehicles.

Allstate is a great choice for add-on coverages across the range, Nationwide excels with usage-based coverage, Farmers provides various discounts, AAA is known for exceptional roadside assistance, and Travelers offers specialized coverage options.

Best Tesla Car Insurance Rates by Model

Whether you’re driving a sleek sedan, a versatile SUV, or a high-performance sports car, securing the right insurance is crucial. Dive in with us to uncover which Tesla model offers the most budget-friendly insurance rates and how you can get the best value for your money. For a comprehensive overview, explore our detailed resource titled “Best Car Insurance Quotes by Vehicle.”

Case Studies: Top Car Insurance Providers for Teslas