2024 Tesla Model X Car Insurance Cost – Forbes Advisor

2024 Tesla Model X Car Insurance Cost – Forbes Advisor

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations.

Tesla Model X car insurance at a glance:

  • Average auto insurance rate for a 40-year-old driver: $4,559 a year
  • Most affordable insurance companies for Tesla Model X auto insurance: Travelers, Erie, USAA*
  • Cheapest state for Model X insurance: Ohio
  • Highest priced state for Model X insurance: Michigan

Tesla Model X Insurance Rates by Company

Drivers of Tesla Model X vehicles could save a significant amount by comparing car insurance quotes from multiple companies. Our analysis of large insurers found that Travelers is the cheapest choice for insuring a Model X. The runner-up was Nationwide.

Related: The best car insurance companies

Tesla Model X Insurance Costs by State

Tesla Model X car insurance rates will vary across states, often due to the history of claims in the state, medical costs, vehicle repair costs and state regulations. If you’re insuring a Model X, our assessment of rates found that Michigan is the most expensive, while Ohio takes is the cheapest.

Cost of Insurance for a Tesla Model X Based on Driver Age

Our analysis found that 60 is the most budget-friendly age for insuring a Tesla Model X.

Conversely, we found that drivers age 20 will have the most expensive insurance bills.

There are multiple factors that go into calculating your own car insurance rates. These usually include your driving record, your garaging address (where you keep the vehicle), annual mileage, your credit-based insurance score (people with lower credit pay more), your past car insurance claims, the type of the car, any recent lapse in your vehicle insurance and the types and amount of insurance you have.

Related: 9 Factors That Affect Your Car Insurance Rates

How to Save Money on Tesla Model X Car Insurance

There are several ways you can lower car insurance costs, such as:

  • Check out vehicle insurance quotes. Auto insurance companies have their own ways for pricing insurance for a Model X. The best way to find a low rate is to compare car insurance quotes from several insurers.
  • Buy the right amount of car insurance. While you want to make sure you are adequately insured, you also don’t want to end up buying unnecessary insurance for a Tesla Model X. Here’s a guide to determining how much car insurance you need.
  • Maintain the best possible credit score. Insurers in most states can use your credit-based insurance score as a factor in setting rates. But not all insurers give credit the same weight in pricing, which is why it’s good to compare quotes.
  • Increase your auto insurance deductible. Usually the higher the car insurance deductible, the less you pay in premiums. Typical deductible amounts range from $250 to $2,000 and up.

Best Car Insurance Companies 2024

With so many choices for car insurance companies, it can be hard to know where to start to find the right car insurance. We’ve evaluated insurers to find the best car insurance companies, so you don’t have to.


Unless otherwise noted, rates are based on a 40-year-old female with a good driving record and insuring a new vehicle. Rates shown are for coverage of $100,000 in bodily injury liability coverage per person, $300,000 per accident and $100,000 in property damage liability (100/300/100), uninsured motorist coverage, collision and comprehensive insurance with a $500 deductible, and any other coverage required in a state. Source: Quadrant Information Services.

*USAA car insurance is available only to military members, veterans and their families.

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