Cheap Tesla Model X Car Insurance in 2024 (Big Savings From These 10 Companies!)
Farmers, State Farm, and Progressive are the top picks for cheap Tesla Model X car insurance, starting at just $95 a month. These companies stand out for their competitive rates, comprehensive coverage, and excellent customer service, making them the best choices for Tesla Model X owners.
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Brad Larson
Licensed Insurance Agent
Brad Larson has been in the insurance industry for over 16 years. He specializes in helping clients navigate the claims process, with a particular emphasis on coverage analysis. He received his bachelor’s degree from the University of Utah in Political Science. He also holds an Associate in Claims (AIC) and Associate in General Insurance (AINS) designations, as well as a Utah Property and Casual...
Licensed Insurance Agent
UPDATED: Sep 12, 2024
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Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Sep 12, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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The top picks for cheap Tesla Model X car insurance are Farmers, State Farm, and Progressive. Ready to find affordable car insurance? Use our free comparison tool above to get started.
These companies excel not only in affordability but also in providing comprehensive coverage options tailored for the unique needs of Tesla Model X owners.
Our Top 10 Company Picks: Cheap Tesla Model X Car Insurance
Company Rank Monthly Rates A.M. Best Best For Jump to Pros/Cons
#1 $95 A Comprehensive Coverage Farmers
#2 $100 B Affordable Rates State Farm
#3 $105 A+ Customizable Coverage Progressive
#4 $110 A+ Bundling Discounts Nationwide
#5 $115 A Customer Service American Family
#6 $120 A+ Flexible Options Allstate
#7 $125 A++ Strong Coverage Travelers
#8 $128 A++ Military Discounts USAA
#9 $130 A Car Discounts Liberty Mutual
#10 $135 A+ Discount Programs The Hartford
With a focus on customer satisfaction and reliability, they ensure that drivers can enjoy peace of mind at a competitive price. Choosing the right insurer involves comparing these providers to see which best matches your personal insurance needs and preferences.
- Farmers is the top choice for cheap Tesla Model X car insurance
- Coverage options are tailored to the Tesla Model X’s advanced features
- Providers consider the unique repair needs of Tesla Model X vehicles
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#1 – Farmers: Top Overall Pick
Pros
- Competitive Pricing: Farmers offers the cheapest monthly rate at $95 for Tesla Model X car insurance. Read up on Farmers insurance review & ratings for more information.
- High A.M. Best Rating: With an A rating, Farmers is recognized for its strong financial health and claim-paying ability.
- Extensive Coverage Options: Farmers provides comprehensive coverage options that are ideal for the unique needs of Tesla Model X owners.
Cons
- Limited Discounts: While affordable, Farmers offers fewer discounts compared to competitors, which could affect savings on premiums.
- Coverage Limitations: Some customers might find coverage options less flexible when trying to tailor policies specific to their needs.
#2 – State Farm: Best for Affordable Rates
Pros
- Bundling Policies: State Farm offers significant discounts for bundling multiple insurance policies, beneficial for Tesla Model X owners. Unlock details in our State Farm insurance review & ratings.
- High Low-Mileage Discount: State Farm provides a substantial discount for low-mileage usage, appealing to Tesla Model X drivers who may use their vehicle less frequently.
- Wide Coverage: State Farm offers various coverage options tailored for different needs, including those of Tesla Model X owners.
Cons
- Limited Multi-Policy Discount: The multi-policy discount of State Farm is not as competitive as some other insurers.
- Premium Costs: Despite discounts, State Farm’s premiums might still be relatively higher for certain coverage levels, including comprehensive plans for Tesla Model X.
#3 – Progressive: Best for Customizable Coverage
Pros
- Tailored Policies: Progressive offers highly customizable coverage options, allowing Tesla Model X owners to fine-tune their policies.
- Superior A.M. Best Rating: Progressive’s A+ rating indicates excellent financial stability and reliability in handling claims. Discover insights in our Progressive insurance review & ratings.
- Diverse Discount Opportunities: Progressive provides a variety of discounts, including for safe driving, which can benefit Tesla Model X drivers.
Cons
- Higher Base Rates: Starting at $105, Progressive’s rates are higher than some competitors for base Tesla Model X car insurance.
- Complex Policy Options: While customizable, the variety of options can be overwhelming and may lead to higher costs if not carefully managed.
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#4 – Nationwide: Best for Bundling Discounts
Pros
- Strong Bundling Discounts: Nationwide offers significant savings for customers who bundle their Tesla Model X car insurance with other policies.
- Robust Coverage Options: Nationwide provides a wide range of coverage options that cater to diverse needs, including those specific to Tesla Model X.
- A+ Financial Stability Rating: Nationwide’s A+ rating from A.M. Best ensures dependable claims service and financial reliability. Access comprehensive insights in our Nationwide insurance review & ratings.
Cons
- Higher Starting Rates: Nationwide’s rates start at $110, which is higher than some top competitors for Tesla Model X insurance.
- Discounts Dependency: Customers may find that the most competitive rates are heavily dependent on qualifying for multiple discounts.
#5 – American Family: Best for Customer Service
Pros
- Exceptional Customer Support: American Family is known for its strong focus on customer service, beneficial for Tesla Model X owners seeking personalized support.
- Diverse Discount Offers: Offers various discounts, including for safety features on Tesla Model X, which can lower premium costs. See more details in our guide titled, “American Family Insurance Review & Ratings.”
- Solid Financial Rating: With an A rating from A.M. Best, American Family demonstrates strong financial health and effective claims management.
Cons
- Premium Pricing: At $115 per month, American Family’s rates are higher, potentially making it less appealing for budget-conscious Tesla Model X owners.
- Limited Policy Customization: Compared to other insurers, American Family may offer less flexibility in policy customization.
#6 – Allstate: Best for Flexible Options
Pros
- Flexible Policy Features: Allstate stands out with its flexible coverage options, allowing Tesla Model X owners to tailor their insurance precisely.
- Multiple Discount Opportunities: Offers various discounts that can benefit Tesla Model X drivers, including new car and anti-theft system discounts.
- High Financial Stability: With an A+ rating, Allstate is well-regarded for its financial strength and dependable claim services. Learn more in our complete Allstate insurance review & ratings.
Cons
- Higher Rates: Allstate’s monthly rates start at $120, which might be considered steep compared to other providers for Tesla Model X insurance.
- Complexity in Discounts: While discounts are plentiful, they may require specific conditions to be met, which can complicate obtaining lower rates.
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#7 – Travelers: Best for Strong Coverage
Pros
- Superior Coverage Options: Travelers offers extensive and robust coverage options, which are ideal for protecting the high-tech Tesla Model X. Check out insurance savings in our complete Travelers insurance review & ratings.
- Top-Tier Financial Rating: Boasting an A++ rating from A.M. Best, Travelers is among the most financially secure insurers, ensuring reliability in claims handling.
- Dedicated Support for High-Value Vehicles: Specializes in insurance for high-value vehicles like the Tesla Model X, providing tailored solutions.
Cons
- Premium Cost: With rates starting at $125, Travelers is one of the more expensive options for Tesla Model X car insurance.
- Less Competitive Discounts: Travelers offers fewer discounts compared to other top insurers, which could affect overall affordability.
#8 – USAA: Best for Military Discounts
Pros
- Exclusive Military Discounts: USAA offers exclusive discounts for military members and their families, making it an excellent choice for Tesla Model X owners in the armed forces.
- Highly Competitive Rates: With rates starting at $128, USAA provides affordable car insurance for Tesla Model X while maintaining high-quality coverage.
- Top Financial Stability: USAA’s A++ rating from A.M. Best signifies exceptional financial health, ensuring reliable claims processing and support. See more details in our guide titled, “USAA Insurance Review & Ratings.”
Cons
- Eligibility Restrictions: USAA insurance is only available to military members, veterans, and their families, limiting accessibility for the general public.
- Limited Physical Locations: While USAA excels in online and phone services, it has fewer physical offices, which might be a drawback for those preferring face-to-face interactions.
#9 – Liberty Mutual: Best for Car Discounts
Pros
- Wide Range of Car Discounts: Offers various discounts specifically tailored to car features, including those of the Tesla Model X, such as safety device discounts.
- Customizable Policies: Offers highly customizable policies, allowing Tesla Model X owners to adjust coverage to fit their specific needs and budget. Discover more about offerings in our Liberty Mutual insurance review & ratings.
- Solid Financial Rating: With an A rating from A.M. Best, this company is recognized for its strong financial standing and dependable claims service.
Cons
- Higher Base Rate: Starting at $130 per month, Liberty Mutual’s rates are on the higher side for Tesla Model X car insurance.
- Complex Discount Structure: While discounts are plentiful, they often require specific qualifications, which can be cumbersome to navigate and understand.
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#10 – The Hartford: Best for Discount Programs
Pros
- Extensive Discount Programs: The Hartford offers a variety of discount programs that can significantly lower premiums for Tesla Model X owners, such as age-based discounts and defensive driving course reductions.
- Specialized Coverage for Older Drivers: Tailors insurance offerings to meet the needs of older drivers, providing added benefits and services ideal for mature Tesla Model X owners.
- Strong Financial Stability: The Hartford’s A+ rating by A.M. Best ensures it can support claims reliably and efficiently. Discover insights in our guide titled, “The Hartford Insurance Review & Ratings.”
Cons
- Premium Pricing for Younger Drivers: The Hartford’s focus on older drivers may result in higher premiums for younger Tesla Model X owners.
- More Focused Demographic: The coverage and discounts are primarily geared towards older adults, which may not align with the needs of younger Tesla Model X drivers.
Tesla Model X Insurance Cost Breakdown
Understanding the cost of insuring a Tesla Model X can help owners make informed decisions about their car insurance. The table below presents a comparison of monthly rates for minimum and full coverage across various providers.
Tesla Model X Car Insurance Monthly Rates by Coverage Level & Provider
Insurance Company Minimum Coverage Full Coverage
Allstate $120 $210
American Family $115 $205
Farmers $95 $185
Liberty Mutual $130 $220
Nationwide $110 $200
Progressive $105 $195
State Farm $100 $190
The Hartford $135 $225
Travelers $125 $215
USAA $128 $218
For Tesla Model X owners, choosing the right insurance coverage involves comparing both minimum and full coverage car insurance options. As per the data, Farmers offers the most competitive rates with minimum coverage starting at $95 and full coverage at $185 per month.
On the higher end, The Hartford charges $135 for minimum and $225 for full coverage. This indicates a significant variance in pricing between different insurers, reflecting their individual assessments of risk and coverage benefits.
Such a comprehensive overview enables Tesla Model X owners to evaluate potential costs effectively, ensuring they choose a plan that not only fits their budget but also provides adequate protection.
Factors That Affect Tesla Model X Car Insurance Rates
Several factors can influence the cost of insuring a Tesla Model X. One of the primary factors is the value of the vehicle. Since the Tesla Model X is a luxury electric SUV, it typically has a higher value than many other vehicles on the market. As a result, insurance rates for the Model X can be higher compared to more affordable cars.
Another crucial factor that affects the insurance rates is the driver’s age and driving history. Younger drivers with less experience generally pay higher premiums due to their perceived higher risk. On the other hand, experienced drivers with a clean driving record may qualify for lower insurance rates.
Your location can also impact the cost of insuring a Tesla Model X. Insurance companies consider the crime rate, population density, and even weather conditions in your area when determining your rates. If you reside in an area with a high rate of car theft or accidents, your insurance premiums may be higher.
The Model X’s safety features play a significant role in insurance rates. Given Tesla’s commitment to safety, the Model X typically comes equipped with advanced safety features such as collision avoidance systems, lane departure warnings, and autopilot capabilities. These features can potentially lower your insurance premiums since they reduce the likelihood of accidents and injuries.
Lastly, coverage options, deductibles, and coverage limits you choose also impact the cost of insuring your Tesla Model X. Opting for comprehensive coverage, higher deductibles, or higher coverage limits may increase your premiums, while choosing lower coverage options or deductibles may reduce your rates. Access comprehensive insights in our review of “How does the insurance company determine my premium?“
Jeff Root Licensed Insurance Agent
Additionally, your driving habits can affect the cost of insuring a Tesla Model X. Insurance companies may consider factors such as the average number of miles you drive per year and whether you use your vehicle for business purposes. If you have a long commute or frequently use your Model X for business, your insurance rates may be higher.
Furthermore, your credit score can also impact your insurance rates for a Tesla Model X. Insurance companies often use credit-based insurance scores to assess risk. A lower credit score may result in higher premiums, as it is seen as an indicator of potential financial instability and a higher likelihood of filing claims.
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Understanding the Insurance Industry for Tesla Model X
The insurance industry is continuously evolving to meet the needs of electric vehicle (EV) owners, including Tesla Model X owners. However, insuring an EV like the Model X can present unique challenges for insurance providers. EVs typically require specialized repairs and parts, which can be more expensive compared to conventional vehicles.
Additionally, the limited number of Tesla service centers and qualified technicians may impact the cost of repairs and ultimately influence insurance rates. Insurance companies take these factors into account when assessing the risk associated with insuring a Tesla Model X.
Furthermore, the insurance industry is still adapting to the relatively new concept of EVs, and this ongoing process directly affects how insurance companies determine rates for Tesla Model X owners. It is essential to stay informed about the latest trends and changes in the insurance industry to make informed decisions regarding your coverage.
Another factor that can affect insurance rates for Tesla Model X owners is the high cost of the vehicle itself. The Model X is a luxury electric SUV with advanced features and cutting-edge technology, which can make it more expensive to repair or replace in the event of an accident. Insurance companies may consider the higher value of the vehicle when determining coverage rates.
In addition to the cost of repairs and the value of the vehicle, insurance providers may also take into account the driving habits and history of Tesla Model X owners. Factors such as the owner’s age, driving experience, and previous claims can influence insurance rates. Safe driving habits and a clean driving record may result in lower premiums, while a history of accidents or traffic violations could lead to higher rates.
Learn more by reading our guide: What are some ways to lower my car insurance premiums?
The Importance of Researching Car Insurance Options for Your Tesla Model X
Researching car insurance options is vital for all vehicle owners, particularly for owners of luxury electric vehicles like the Tesla Model X. As mentioned earlier, insurance rates can vary significantly between different insurance providers. By conducting thorough research, you can identify insurance companies that specialize in EV coverage or offer policies specifically tailored to Tesla owners.
Comparing quotes from multiple insurance companies is another crucial step in finding the most affordable coverage for your Tesla Model X. Each insurance provider has its own risk assessment process, which leads to variations in rates. By obtaining quotes from different companies, you can compare costs and coverage options to make an informed decision. Unlock details in our guide titled, “What is Affordable coverage?”
Additionally, reading customer reviews and checking the financial stability and reputation of the insurance companies you are considering can help you assess their reliability and customer satisfaction. It is essential to choose an insurance company that has a good track record of handling claims promptly and efficiently.
Another important factor to consider when researching car insurance options for your Tesla Model X is the coverage for specialized features and technology. Tesla vehicles are equipped with advanced safety features and autonomous driving capabilities, which may require additional coverage. It is crucial to review the policy details and ensure that your insurance coverage adequately protects these high-tech components.
Furthermore, it is worth exploring any potential discounts or incentives that insurance companies may offer for Tesla owners. Some insurers provide discounts for electric vehicles due to their lower environmental impact and reduced maintenance costs. Taking advantage of these discounts can help you save money on your car insurance premiums.
Comparing Insurance Quotes for the Tesla Model X
When comparing insurance quotes for your Tesla Model X, it is important to look beyond the price alone. While affordability is a significant factor, it is equally important to understand what the policy covers and the level of customer service provided by the insurance company (For more information, read our “Compare Car Insurance Quotes”).
Start by requesting quotes that provide identical coverage options, deductibles, and coverage limits. This allows for a fair comparison between insurance providers. Additionally, pay attention to any additional benefits offered, such as roadside assistance or rental car coverage, as these can add value to your policy.
Laura Walker Former Licensed Agent
Consider the financial strength and stability of the insurance company as well. You want to ensure that they have sufficient resources to handle claims promptly and effectively. Evaluating customer reviews and ratings can provide insights into the company’s reputation and customer satisfaction levels, helping you make an informed decision.
It is also worth considering any discounts or special programs that insurance companies may offer for Tesla Model X owners. Some insurers may provide discounts for electric vehicles or offer specialized coverage options tailored to the unique features and technology of the Tesla Model X. Be sure to inquire about these potential benefits when requesting quotes and comparing insurance options.
Finding affordable car insurance doesn’t have to be a challenge. Enter your ZIP code below into our free comparison tool to find the lowest prices in your area.
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Frequently Asked Questions
What factors affect the cost of Tesla Model X car insurance?
The cost of Tesla Model X car insurance can be influenced by several factors, including the driver’s age, driving record, location, coverage options, deductible amount, and the insurance company’s policies.
For additional details, explore our comprehensive resource titled “What age do you get cheap car insurance?“
Are Tesla Model X cars more expensive to insure compared to other vehicles?
Generally, Tesla Model X cars tend to have higher insurance rates compared to other vehicles. This is because they are luxury vehicles with advanced technology and expensive parts, which can increase the cost of repairs and replacement.
Does the cost of Tesla Model X car insurance vary by location?
Yes, the cost of Tesla Model X car insurance can vary depending on the location. Insurance rates are influenced by factors such as the local crime rate, traffic density, and the likelihood of accidents or theft in a particular area.
Protect your vehicle from whatever the road throws at it by entering your ZIP code into our free comparison tool below to see affordable car insurance quotes.
Are there any discounts available for Tesla Model X car insurance?
Some insurance companies may offer discounts for Tesla Model X car insurance. These discounts can vary but may include options such as multi-vehicle discounts, safe driver discounts, or discounts for installing anti-theft devices or safety features in the vehicle.
Can I get insurance coverage specifically tailored for a Tesla Model X?
Yes, there are insurance companies that offer coverage specifically tailored for Tesla Model X cars. These specialized policies may provide additional coverage for unique features of the vehicle, such as the electric drivetrain or autonomous driving capabilities.
To find out more, explore our guide titled, “Best Car Insurance Companies for Teslas.”
Which Tesla model has the lowest insurance costs?
The Model Y offers the lowest insurance premiums among Tesla models, averaging $255 per month for the base version, which is 13% lower than the typical rate for new Teslas.
What are the maintenance costs for a Tesla Model X?
Over the first 10 years, the Tesla Model X’s maintenance and repair costs are projected to be about $5,723, significantly lower than the industry average for luxury SUVs by $9,991.
Is the Tesla Model X considered a luxury vehicle?
Yes, the Tesla Model X is classified as a high-quality luxury electric SUV.
Are insurance premiums higher for Tesla vehicles?
Although Teslas are highly rated for safety, their insurance costs are generally higher than those of many other popular cars; however, these rates can differ greatly between Tesla models.
To learn more, explore our comprehensive resource on “Tesla Car Insurance Discount.”
Does Tesla offer its own insurance services?
Tesla Insurance provides competitively priced insurance services and tools designed to promote safer driving.
How long do Tesla batteries typically last?
Tesla batteries are engineered to last at least eight years or between 100,000 and 150,000 miles, according to the warranty, with replacement intervals depending on usage and driving conditions.
Why has Tesla discontinued the Model X?
Tesla has ceased production of the right-hand drive (RHD) versions of the Model X and Model Y due to technical and logistical challenges.
Which is larger, the Tesla Model X or Model Y?
In comparing Tesla’s SUV offerings, the Model X is the larger vehicle, while the Model Y is the smaller, newer option.
Access comprehensive insights into our guide titled, “How to Get Free Insurance Quotes Online.”
Do Teslas require oil changes?
Tesla vehicles do not require traditional oil changes, fuel system maintenance, spark plug replacements, or emission checks. Brake pad replacements are infrequent as well, thanks to regenerative braking that minimizes brake wear by returning energy to the battery.
What are some downsides to owning a Tesla?
Owning a Tesla can entail high repair costs and, as a result, potentially high insurance premiums, especially since some insurers may categorize Teslas as luxury vehicles, further increasing the cost of insurance.
Your car insurance rates will likely increase after an at-fault accident, but you can find your cheapest coverage option by using our free quote comparison tool below today.
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Brad Larson
Licensed Insurance Agent
Brad Larson has been in the insurance industry for over 16 years. He specializes in helping clients navigate the claims process, with a particular emphasis on coverage analysis. He received his bachelor’s degree from the University of Utah in Political Science. He also holds an Associate in Claims (AIC) and Associate in General Insurance (AINS) designations, as well as a Utah Property and Casual...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
