Teslas are cool cars to own, but if you’re considering putting one in your garage, you should brace yourself for the high insurance costs that come with owning a luxury car. Certain factors usually determine how much you pay for insurance. For instance, your car model, location, and driving history can all influence the deals you can get. But for Teslas, the features that make them so cool can be quite pricey to repair if things go south, which is pretty much why you pay so much more to have it insured. In fact, insuring a Tesla car costs 59% more than the national average.
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Regardless of this, getting insurance for your Tesla doesn’t always have to eat into your wallet. There are loads of insurance providers that offer affordable options tailored for Tesla owners. And Tesla even provides its own insurance services now, so drivers now have a bunch of options to consider for their car insurance. With that said, here are 10 of the cheapest Tesla insurance companies and what you need to know before purchasing a policy. But before diving in, we want to let you know that this list is not ranked by price.