Key Takeaways
- Our team gave Tesla Insurance only 7.7 out of 10 stars due to its limited availability, poor industry reputation and relatively high premiums.
- The average cost to insure a 2021 Tesla model with full coverage is $4,098 annually or $352 per month, which is 53% higher than the national average.
- Many Tesla owners choose to purchase third-party protection for their Teslas rather than opting for the company’s own coverage.
Tesla Insurance, the electric vehicle (EV) manufacturer’s in-house option for auto coverage, is a newer product that’s just starting to gain traction. We at the MarketWatch Guides team wanted to learn whether Tesla Insurance can stack up to the industry’s best car insurance providers, so we took an in-depth look at the company’s policies.
