Cheap Tesla Model Y Car Insurance in 2024 (Secure Low Rates With These 10 Companies)
State Farm, Progressive, and American Family are the top providers for cheap Tesla Model Y auto insurance, starting at $82/month. State Farm leads with the lowest rate, Progressive offers excellent qualifying coverage, and American Family provides benefits for Costco members. Get the cheapest auto insurance now.
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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 23, 2024
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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.
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 23, 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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2,180 reviews
The top picks for cheap Tesla Model Y car insurance are State Farm, Progressive, and American Family, offering competitive rates and comprehensive coverage options.
State Farm leads with the most affordable monthly rates starting at $82. Each of these providers offers unique benefits, such as discounts for electric cars and advanced safety features.
Our Top 10 Company Picks: Cheap Tesla Model Y Car Insurance
Company Rank Monthly Rates A.M. Best Best For Jump to Pros/Cons
#1 $82 B Customer Service State Farm
#2 $87 A+ Qualifying Coverage Progressive
#3 $91 A Costco Members American Family
#4 $94 A+ Dividend Payments Amica
#5 $98 A+ Infrequent Drivers Allstate
#6 $103 A+ Vanishing Deductible Nationwide
#7 $107 A Discount Variety Farmers
#8 $112 A++ Bundling Policies Travelers
#9 $116 A Add-on Coverages Liberty Mutual
#10 $121 A+ Tailored Policies The Hartford
Explore their options to secure the best deal on insurance for your cheap Tesla Model Y. To gain profound insights, consult our extensive guide titled “Lesser Known Car Insurance Discounts.”
See if you’re getting the best deal on car insurance by entering your ZIP code above.
- State Farm offers cheap Tesla Model Y car insurance at $82/month
- Bundle policies for savings on cheap Tesla Model Y car insurance
- Explore discounts on cheap Tesla Model Y car insurance for electric vehicle features
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#1 – State Farm: Top Pick Overall
Pros
- Competitive Premiums: State Farm presents competitive premiums for cheap Tesla Model Y car insurance, with rates starting as low as $82 per month. Explore our “State Farm Insurance Review and Ratings” to see how it stands out.
- Extensive Agent Network: Access to a broad network of local agents to help secure affordable coverage for a cheap Tesla Model Y.
- Bundling Options: Discounts available for bundling cheap Tesla Model Y car insurance with other policies, potentially reducing overall costs.
Cons
- Variable Agent Quality: The effectiveness of obtaining cheap Tesla Model Y car insurance can vary by local agent.
- Basic Digital Tools: Limited online tools and resources may not fully assist in finding the cheapest Tesla Model Y car insurance options.
#2 – Progressive: Best for Filing Claims
Pros
- User-Friendly Mobile App: The app simplifies the process for managing cheap Tesla Model Y car insurance claims and policy details.
- Streamlined Claims Process: Progressive highlights an efficient claims process with its user-friendly app, making it a top choice for filing claims. Discover more in our “Progressive Insurance Review and Ratings.”
- 24/7 Customer Support: Provides round-the-clock support to assist with any issues related to cheap Tesla Model Y car insurance.
Cons
- Higher Initial Premiums: Base rates for cheap Tesla Model Y car insurance might be higher compared to other providers.
- Complex Discount System: The discount structure can be complicated, making it challenging to determine the best rate for cheap Tesla Model Y car insurance.
#3 – American Family: Best for Customer Service
Pros
- Custom Coverage Options: Offers tailored coverage solutions to find the most affordable cheap Tesla Model Y car insurance.
- Community Engagement: Strong community involvement can contribute to a more personalized experience in obtaining cheap Tesla Model Y car insurance.
- High-Quality Customer Service: American Family spotlights exceptional customer service, making it a standout choice for cheap Tesla Model Y car insurance. More information is available about this provider in our article titled “American Family Insurance Review and Ratings.”
Cons
- Higher Premiums: May have higher costs for cheap Tesla Model Y car insurance compared to other companies.
- Limited Availability: Not available in all states, potentially limiting access to cheap Tesla Model Y car insurance for some customers.
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#4 – Amica: Best for Comprehensive Coverage
Pros
- High Customer Satisfaction: Known for high satisfaction rates, reflecting positively on their cheap Tesla Model Y car insurance policies.
- Comprehensive Coverage: Amica car insurance discounts indicate budget-friendly pricing options for cheap Tesla Model Y car insurance.
- Flexible Discounts: Provides various discounts, such as for safe driving, which can help reduce the cost of cheap Tesla Model Y car insurance.
Cons
- Fewer Local Offices: Limited physical presence may affect the ease of obtaining cheap Tesla Model Y car insurance in-person.
- Potential for Higher Costs: Comprehensive coverage might lead to higher premiums compared to basic options for cheap Tesla Model Y car insurance.
#5 – Allstate: Best for Discounts
Pros
- Broad Discount Options: Allstate flaunts a wide array of discounts, making it an excellent option for cheap Tesla Model Y car insurance. Unlock details in our article titled “Allstate Insurance Review and Ratings.”
- Effective Online Tools: Provides robust online tools to manage and apply discounts for cheap Tesla Model Y car insurance.
- Customizable Policies: Allows for significant policy customization to find the most affordable cheap Tesla Model Y car insurance options.
Cons
- Inconsistent Service Quality: Customer service can vary, which might affect the overall experience with cheap Tesla Model Y car insurance.
- Regional Cost Variability: Premiums may be higher in certain regions, impacting the affordability of cheap Tesla Model Y car insurance.
#6 – Nationwide: Best for Flexible Payment Plans
Pros
- Customizable Payment Schedules: Allows flexibility in scheduling payments, making cheap Tesla Model Y car insurance more manageable.
- Discount Opportunities: Provides discounts for choosing certain payment plans, potentially lowering the cost of cheap Tesla Model Y car insurance.
- Variety of Payment Options: Nationwide features flexible payment plans that make managing cheap Tesla Model Y car insurance convenient. Discover insights in our article titled “Nationwide Insurance Review and Ratings.”
Cons
- Potential Extra Fees: Some flexible payment plans might include additional fees, which could affect the overall affordability of cheap Tesla Model Y car insurance.
- Complex Terms: Payment plan terms may be complex and difficult to navigate, potentially impacting the ease of securing cheap Tesla Model Y car insurance.
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#7 – Farmers: Best for Accident Forgiveness
Pros
- Accident Forgiveness: Farmers demonstrates robust accident forgiveness programs, making it a solid choice for cheap Tesla Model Y car insurance. Delve into our evaluation of our article titled “Farmers Insurance Review and Ratings.”
- Tailored Coverage Options: Provides customized coverage that can help keep premiums low while offering protection for cheap Tesla Model Y drivers.
- Discounts for Safe Driving: Additional discounts may be available for safe driving, further reducing the cost of cheap Tesla Model Y car insurance.
Cons
- Higher Premiums Initially: Initial rates for cheap Tesla Model Y car insurance may be higher before accident forgiveness is applied.
- Limited Multi-Claim Coverage: Accident forgiveness benefits may be limited to one claim or specific conditions, impacting long-term affordability.
#8 – Travelers: Best for Roadside Assistance
Pros
- Additional Coverage: Offers extra coverage for roadside emergencies, which can add value to cheap Tesla Model Y car insurance policies.
- Extensive Roadside Assistance: Travelers exhibits comprehensive roadside assistance, making it a top pick for cheap Tesla Model Y car insurance. More information is available about this provider in our article titled “Travelers Insurance Review and Ratings.”
- 24/7 Service: Provides around-the-clock roadside support, enhancing the value of cheap Tesla Model Y car insurance.
Cons
- Higher Premiums: The inclusion of extensive roadside assistance might increase the base cost of cheap Tesla Model Y car insurance.
- Service Limitations: Roadside assistance coverage might have limitations that could impact its effectiveness in certain situations.
#9 – Liberty Mutual: Best for Rental Car Coverage
Pros
- Generous Rental Car Coverage: Liberty Mutual manifests excellent rental car coverage, making it an ideal option for cheap Tesla Model Y car insurance. Check out insurance savings in our complete article titled “Liberty Mutual Insurance Review and Ratings.”
- Convenient Replacement: Ensures access to a rental car while your cheap Tesla Model Y is being repaired, which is valuable for maintaining mobility.
- Flexible Policy Options: Allows customization of rental car coverage to fit specific needs, enhancing the overall value of cheap Tesla Model Y car insurance.
Cons
- Increased Premiums for Add-Ons: Rental car coverage might result in higher premiums for cheap Tesla Model Y car insurance.
- Potential for Limited Coverage: The extent of rental car coverage might be limited, potentially affecting the overall affordability.
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#10 – The Hartford: Best for Older Drivers
Pros
- Discounts for Older Drivers: The Hartford displays tailored benefits for older drivers, making it a great choice for cheap Tesla Model Y car insurance. Access comprehensive insights into our article titled “The Hartford Insurance Review and Ratings.”
- Customized Coverage Options: Provides coverage options that cater specifically to the needs of older drivers.
- High Customer Satisfaction: Known for strong customer satisfaction, which can positively impact the experience of obtaining cheap Tesla Model Y car insurance.
Cons
- Availability Limitations: Discount programs and coverage options might be limited in certain regions, affecting the availability of cheap Tesla Model Y car insurance.
- Higher Costs for Younger Drivers: The focus on older drivers might result in higher premiums for those outside this demographic.
Factors That Affect Cheap Tesla Model Y Car Insurance Rates
Several factors impact the cost of cheap Tesla Model Y auto insurance, affecting how much you pay each month. Understanding these factors can help you find the best rates and save on your insurance premiums.
- Location: Where you live can significantly influence your insurance rates, with high-crime or high-traffic areas leading to higher costs.
- Driving Record: A clean driving history with no accidents or violations can lower your insurance premiums for the cheap Tesla Model Y.
- Age and Gender: Younger drivers and males generally face higher insurance rates due to higher risk factors.
- Credit History: Your credit score impacts your insurance rates, as insurers use it to gauge the likelihood of claims.
- Deductibles: Choosing a higher deductible can reduce your monthly premiums, but ensure you can afford the deductible if a claim arises.
By understanding these factors, you can better manage the cost of cheap Tesla Model Y auto insurance. To delve deeper, refer to our in-depth report titled “How much is car insurance?”
Tesla Model Y Car Insurance Monthly Rates by Coverage Level & Provider
Insurance Company Minimum Coverage Full Coverage
Allstate $98 $167
American Family $91 $158
Amica $94 $162
Farmers $107 $181
Liberty Mutual $116 $185
Nationwide $103 $173
Progressive $87 $161
State Farm $82 $149
The Hartford $121 $192
Travelers $112 $179
Make informed decisions to secure the most affordable rates for cheap Tesla Model Y auto insurance and protect your vehicle effectively.
The Average Cost of Cheap Tesla Model Y Car Insurance in Different States
The average cost of cheap Tesla Model Y auto insurance varies widely depending on several factors, including state regulations, traffic conditions, and local rates of accidents and theft. For a comprehensive analysis, refer to our detailed guide titled “Car Accidents: What to do in Worst Case Scenarios”
States with high population density and heavy traffic, such as California and New York, generally have higher insurance premiums due to increased risk. As a result, cheap Tesla Model Y auto insurance is typically more expensive in these high-density, high-risk areas.
Conversely, states with lower traffic and accident rates, like Vermont and Maine, often offer more affordable premiums for cheap Tesla Model Y owners.
Understanding these regional differences can help you find the best rates for cheap Tesla Model Y auto insurance and save on your auto insurance costs.
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Tips for Getting the Best Car Insurance Deal for Your Cheap Tesla Model Y
To find the best rates for cheap Tesla Model Y auto insurance, it’s essential to consider a few key strategies. Following these tips can help you secure the most affordable coverage and save on your premiums.
- Compare Quotes: Shop around and compare quotes from multiple insurance providers to find the best deal on cheap Tesla Model Y auto insurance.
- Look for EV Discounts: Check for discounts specifically aimed at electric vehicles or cheap Tesla owners, as many insurers offer incentives for eco-friendly transportation.
- Consider Higher Deductibles: Opt for higher deductibles if you can afford them, which can lower your monthly premiums for cheap Tesla Model Y auto insurance.
- Bundle Policies: Bundle your cheap Tesla Model Y insurance with other policies, such as home or renters insurance, to potentially save on overall costs.
- Use Telematics Programs: Take advantage of telematics programs that track your driving behavior, offering potential discounts for safe driving habits.
By implementing these tips, you can find the best rates for cheap Tesla Model Y auto insurance and manage your insurance costs effectively.
Zach Fagiano Licensed Insurance Broker
Make informed choices to secure affordable coverage for your cheap Tesla Model Y electric car. For a thorough understanding, refer to our detailed analysis titled “The Electric Car: History, Quotes and Online Resources”
Exploring Discounts and Incentives for Cheap Tesla Model Y Car Insurance
Several insurance companies offer discounts and incentives for cheap Tesla Model Y owners. These can include savings for owning an electric vehicle, reflecting the eco-friendly nature of your car.
Additionally, you can benefit from discounts for advanced safety features like Autopilot or collision avoidance systems. Green vehicle discounts are available for choosing eco-friendly transportation, and bundling your Tesla Model Y auto insurance with other policies can also lead to savings.
Exploring these options and bundling policies ensures you get the best rate. To gain further insights, consult our comprehensive guide titled “Can I bundle my car insurance with other policies?”
These incentives collectively make securing affordable Tesla Model Y auto insurance more achievable and can significantly reduce your overall insurance costs.
How to Lower Your Cheap Tesla Model Y Car Insurance Premiums
To lower your cheap Tesla Model Y car insurance premiums, consider implementing several effective strategies. These approaches can help you secure the most affordable rates while maintaining comprehensive coverage.
- Higher Deductibles: Opt for a higher deductible to lower your Tesla Model Y car insurance premiums, provided you can afford the out-of-pocket expense in the event of a claim.
- Available Discounts: Take advantage of all available discounts to reduce your insurance costs, including those for safe driving and electric vehicles.
- Safety Features and Courses: Install additional safety features or anti-theft devices and consider a defensive driving course to potentially lower your premiums and demonstrate safe driving practices.
By opting for higher deductibles, utilizing available discounts, and enhancing safety features, you can make significant strides in reducing your cheap Tesla Model Y auto insurance costs.
Melanie Musson Published Insurance Expert
Adopting these strategies will help you achieve the best premium and insurance rate. For additional details, explore our comprehensive resource titled “How does the insurance company determine my premium?”
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Case Studies: Top Providers for Cheap Tesla Model Y Car Insurance
These fictional case studies illustrate real-world scenarios based on experiences with top companies for cheap Tesla Model Y car insurance. Each scenario highlights how different insurance providers handle unique situations.
- Case Study #1 – Affordable Coverage Advantage: John from California benefits from State Farm’s cheapest Tesla Model Y auto insurance, with a monthly rate of $82. He enjoys discounts for electric vehicles and comprehensive coverage.
- Case Study #2 – Discounts and Savings: Emily in New York opts for Progressive for her Tesla Model Y. Despite higher premiums, she saves with Progressive’s discounts for advanced safety features and eco-friendly incentives.
- Case Study #3 – Bundling Benefits Realized: Michael in Texas chooses American Family for his Tesla Model Y, leveraging discounts for bundling auto and home insurance. The coverage for green vehicles and additional savings make it a cost-effective option.
These case studies are based on real-world scenarios and reflect how different companies can meet diverse needs for affordable Tesla Model Y car insurance.
They demonstrate the various ways insurance providers can offer value through unique discounts and coverage options for auto insurance.
Final Verdict: Top Picks for Cheap Tesla Model Y Car Insurance
It details how State Farm, Progressive, and American Family are the best choices for affordable rates, each providing specific benefits such as discounts for electric vehicles and safety features. For a comprehensive overview, explore our detailed resource titled “Best Safety Features Car Insurance Discount.”
By examining factors like discounts, premiums, and bundling options, the article helps readers make informed decisions to secure the most cost-effective coverage for their cheap Tesla Model Y.
Explore your car insurance options by entering your ZIP code below and finding which companies have the lowest rates.
Frequently Asked Questions
What is the most affordable option for cheap Tesla Model Y car insurance?
The most affordable option for cheap Tesla Model Y car insurance depends on your location and individual profile. Companies like State Farm, Progressive, and American Family often provide competitive rates for Tesla Model Y coverage.
Where can I find cheap Tesla Model Y car insurance?
To find cheap Tesla Model Y car insurance, use online comparison tools to gather quotes from multiple insurers or contact insurance companies directly. Local insurance agents can also help you find affordable options.
Our free online comparison tool below allows you to compare cheap car insurance quotes instantly — just enter your ZIP code to get started.
What are the disadvantages of Tesla cars that affect cheap Tesla Model Y car insurance?
Disadvantages that may affect cheap Tesla Model Y car insurance include higher repair costs for specialized parts and technology and higher theft rates. These factors can contribute to higher premiums.
To expand your knowledge, refer to our comprehensive handbook titled “Is car theft covered by car insurance?”
When is the best time to seek cheap Tesla Model Y car insurance?
The best time to seek cheap Tesla Model Y car insurance is before your current policy expires or when you’re buying a new Tesla Model Y. Regularly reviewing your insurance options can also help you find cheaper rates.
Ready to shop around for the best car insurance company? Enter your ZIP code below and see which one offers the coverage you need.
What category does the Tesla Model Y fall into for cheap car insurance?
The Tesla Model Y is typically categorized as a luxury SUV, which can affect insurance rates. Finding cheap Tesla Model Y car insurance may require comparing different insurers and exploring discounts.
How can I secure cheap Tesla Model Y car insurance?
To secure cheap Tesla Model Y car insurance, consider bundling policies, maintaining a good driving record, and applying for discounts related to safety features. Comparing car insurance quotes from various insurers is also crucial for finding the best rate.
What is the lowest insurance group for cheap Tesla Model Y car insurance?
Insurance groups for the Tesla Model Y vary by insurer. Generally, Tesla vehicles might fall into higher insurance groups due to their value and repair costs. Checking with insurers can help determine the most cost-effective group.
Which Tesla model is the cheapest to insure compared to the Model Y?
The Tesla Model 3 is typically cheaper to insure compared to the Model Y. Differences in insurance rates are influenced by factors like the vehicle’s value and repair costs.
Which type of coverage is cheapest for a Tesla Model Y?
For a Tesla Model Y, liability-only coverage is generally the cheapest option. However, it’s important to consider if this level of coverage meets your needs, as comprehensive and collision coverage may offer better protection.
Are there specific maintenance issues with the Tesla Model Y that impact cheap car insurance?
Although the cheap Tesla Model Y generally has low maintenance needs, high repair costs for specialized components can impact insurance rates. This may affect the availability of cheap Tesla Model Y car insurance.
By entering your ZIP code below, you can get instant car insurance quotes from top providers.
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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.
