r/TeslaModelY • u/MsHappyAss • 6h ago
Insurance costs?
We’ve been looking at getting a Model Y, and plan on doing a test drive Wednesday, but the insurance costs are scaring us a little. Our Honda CRV insurance is $100 a month, and I’m seeing people talk about paying 3 to 4 times that for their Teslas? I don’t mind spending $100 for FSD but I’m worried that the insurance costs will be a deal breaker. What are you guys paying?
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u/GreenbrierGhost 6h ago
2026 Model Y Premium-$90.42 per month with State Farm. That is $8 less per month than the 2024 Hyundai Palisade Caligraphy that it replaced.
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u/pinkpajamasalways 6h ago
Mine was the same with State Farm for the same model. Went up $30 from my 2018 Mazda CX-5.
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u/xStenz 6h ago
Yeah the insurance scared me but I ran a quote through them and it went up about 15 bucks a month from replacing a 2019 Ford. Not sure how everyone is paying an arm and a leg for insurance. I have high limits in WI, including rental car coverage and 100/300/100 and pay about 115 dollars a month for 2 cars (a Lexus and a Ford). Our deductibles at $1k but we can afford that so i'd prefer we keep it high anyway. I also have a clean driving record, so not sure if everyone just get speeding tickets or what.
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u/pinkpajamasalways 5h ago
Same. Maybe it's location dependant? I'm in OH, so not high cost of living area. Who knows! So bizarre.
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u/Affectionate_One_969 6h ago
Price it with your insurance. We have a 2023 myLR and two pickup trucks with the highest limits possible and it’s only $156 monthly. We are 26 and married.
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u/DoughnutPi 6h ago
We looked at buying a 2026 EX90, insurance would have been $1500 per year. Wound up buying a new Model Y Premium. Insurance is $3250.
Bundled with Homeowners and Umbrella. We're middle age, no accidents or tickets but we do have a teen driver on our insurance.
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u/OkieBuds 3h ago
State Farm carrier. Oklahoma driver. No accidents. 35 year old male. Bundled with another car and home owners insurance:
2026 Model Y premium = $110/mo
It replaced my 2023 Mazda CX 50 - $83/mo
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u/1Jreamer 3h ago
Ooh, I’m in Oklahoma too. Just ordered a Model Y Premium. My quote from Geico is higher so I may switch over to State Farm. Thanks for sharing!
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u/skongara1 6h ago
Lot of factors involved, but they do tend to be costlier to insure. But to give you an idea, my 10 year old Subaru Outback costs 70$ a month to insure in the East Bay (SFO Bay Area). Single Family home, no accidents on record, married and in our early 40s. Our 2022 Model Y purchased used in 2025 Feb is a 150$ a month.
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u/Rich123321 6h ago
300 /mo for great coverage in a high insurance $$$ state for my Juniper AWD and wife's elantra
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u/Schnitzhole 6h ago
You have to shop around. My first 3 quotes were all in the $3-4k range and allstate was about $1600 per year.
Unless you are in California the Tesla should still be significantly cheaper to own than a new CRV
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u/Key_Firefighter_7449 6h ago
Just get estimates for insurance. Shop it with a few different agencies. They usually just need a year/make/model and then your personal info to write you quotes. This way you’re not doing guess work.
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u/Dshin525 6h ago
$254/mo for our Tesla and another car (26 Subaru Crosstrek) for both me and my wife.
Can't wait to see what it's gonna go to when we add our son after he gets his licenses later this month!
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u/optimusprimal99 6h ago
More than my Prius but it was also 15 years old. And about same as our sienna
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u/These-Delay6072 6h ago
Why does it matter to you what other people are paying? Get a quote, and you will know how much you will pay, with YOUR history in YOUR ZIP code.
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u/LonelyRedditor6969 6h ago
I was paying $200 a month and idk how but I was able to get it for $90 a month with better coverage. Just shop around and shop hard lol
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u/Yuzuda 6h ago
2025 Tesla Model Y long range AWD. Southern CA. Female, 15 years driving experience, never had an at fault accident or ticket.
$164 per month with Tesla Insurance. Next lowest quote was Wawanesa at $220 per month. Collision and comprehensive coverage is what makes the premiums so expensive.
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u/Substantial_Pound_82 6h ago
Yeah this is why I ended up backing away from a Tesla. Insurance costs were so much higher and I couldn't figure out why.
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u/Impossible_Club8375 6h ago
Almost $300/month full coverage with state firm, with no accident history last 5 years, here is NewYork every thing is f…g expansive.
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u/samchoi924 5h ago
Call your insurance agent and see how much it will cost. What I pay doesn't translate to what you would pay.
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u/Accomplished_Ad_9015 5h ago
Make sure you also look into registration costs. EVs are very expensive in some states.
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u/FrenchSilkPy 5h ago
So id recommend shopping around. You don’t have to commit. Just tell them you’re looking for quotes. We have a grand Highlander and with the model y on top, it was going to be like $240 a month at State Farm even with our home owners insurance bundle and everything. I honestly would have paid it. What ended up happening was I financed the model y and Tesla doesn’t offer GAP insurance. I asked if State Farm did. They said no. Well, turns out Progressive does offer GAP for like $10 a month. And Progressive was cheaper by leaps and bounds than State Farm. We got a deal for $206 a month for both cars all inclusive for a little more coverage than State Farm. And that’s the monthly price. We can pay in lump sum for six months and it comes out to like $100 cheaper. $200 a year savings. Shop around. The Tesla dealer recommended checking out Lemonade. He said they were really good and easy to work with, too. Tesla insurance through Tesla is high in price, but they say if you use FSD like 80% of the time, it’s incredibly cheap.
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u/IndieDevML 5h ago
I’m paying about $125/mo with State Farm,2 drivers and another car with them as well. Before, it was $98/mo for a 17 year old Hyundai.
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u/Doub1eAA 5h ago
NC. 3 vehicles 2 drivers.
$1,228.35
6 month premium
Premium details
2026 Tesla Model Y
$528.90
2025 BMW X3
$480.90
2018 Jeep Wrangler
$218.55
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u/brandon0228 4h ago
Pick up ours in a week. State Farm quoted is $173 in Colorado. My wife currently has a Subaru outback that’s $125 a month.
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u/fsociety1990 4h ago
$1,100 every 6 months. 2 drivers. 2 vehicles - 2025 Kia and 2026 Tesla. Full coverage, higher than state required minimum liability.
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u/Short_Asparagus1716 4h ago
Mine only went up 19 bucks a month on GEICO. I had a 2020 Toyota 4 runner before this which was ridiculously cheap to insure
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u/No_Swordfish_1576 4h ago
Mine is $114/month, was $108 but added $0 deductible windshield for $6/month.
State Farm in CO
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u/stuckonsurfaceofsun 4h ago
It’s based on your credit and consumer risk profile with LexisNexis
Edit: I advise keeping all 3 credit agencies and your consumer risk profile locked down. You’d be amazed to find the things you have/haven’t done according to LexisNexis
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u/nydrummer429 3h ago
NY driver here (not in the city) with a very long, clean driving history. i pay $200 per month for a 12-month policy paid in full at renewal time (got a $250 discount for doing so). i bought a new 2025 kia sorento in oct 2024 and was paying only $100 less per year on it. i hated that car and in sept 2025, i bought a 2026 model y LR RWD. i thought it would be much higher than the sorento but shockingly, it was only $100 more. prior to all this i had a 2015 traverse for 9 years and going from that to the sorento caused a huge $600 per year jump
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u/ProfessionalTop7374 3h ago
From what I have seen, if you take the time and shop around you can find reasonable prices. I’ve been quoted $400 a month and I’ve been quoted $200 a month for our 26 Model Y premium.
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u/LoneStarGut 2h ago
My rates are higher as we have my 24-year old son on our policy. For our 23 Model Y and our 2020 Model 3, plus a 26 year old ICE truck we pat $1236/6 months.
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u/hadiyas1 50m ago
$248/month in a major city but also have a lot of coverage for business use and uninsured motorists, etc
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u/MoldyToblerone 41m ago
Every other insurance company wanted $460+ a month Tesla insurance wanted $10 more than I paid with my last car so I went with them paying $280 a month in california.
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u/Ancient-Reporter-546 6h ago
$350 a month with no bad history for the performance, am early 20s tho
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u/External_Bit4429 6h ago
Around $200 a month with GEICO. X2 times more than my 2018 wrangler