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How much does Tesla Model X insurance cost?

Tesla Model X has been one of the most popular car options for a while now. However, the insurance cost is one aspect where people often get confused, and a bit worried too. And, it’s completely understandable.

Tesla Model X insurance cost has always been the talk of the town, but you are all set to get some massive clarity here. The average cost for Tesla Model X is $2064 for a year and $172 for a month.

The average midsize SUV insurance costs around $1835 for a year. Hence, the average Tesla Model X insurance is a$192 more when compared.

The long-range model of Tesla Model X costs around $58 less as compared to the performance model. The average insurance cost of the long-range model is $2034 while the performance model costs $2092. While the 6-month policy of the long-range model costs you $1017 and that of the performance model costs you $1046.

Of course, Tesla car models always cost more when it comes to insurance. More repair costs are the primary reasons for the same. Also, the carrier you select to go with decides the Tesla Model X insurance cost to a good extent.

Driver Age Insurance Cost
High Risk Driver Age30 $4,688
Safe driver age 20 $4,108
At fault accident age 40 $2,884
low deductibles age 40 $2,784
Safe driver age 30 $2,200
Safe driver age 40 $2,064
Safe driver age 50 $1,876
Safe driver age 60 $1,844
High deductibles age 40 $1,694
Discount rate age 40 $1,714

How Much Does It Costs to Insure a Tesla Model X for 16- to 25-Year-Olds?

Young drivers pay more for car insurance. Driving experience and driving habits play an important role here. As you age and gain driving experience, the average insurance cost for Tesla Model X keeps on decreasing.

Let’s check out the Tesla Model X insurance cost for 16-to-25-year-olds drivers below.

  • Age 16 : If you are 16 and looking to get Tesla Model X insurance, you need to pay $9907. Yes, the price is a bit high, but it is only because of your age and less driving experience.
  • Age 18: Here, you pay a bit less as your driving experience does increase. Here, you pay around $7730 to get your car insured.
  • Age 21: The average insurance cost for a 21-year-old driver is $3910. Yes, the downfall of the cost is significant.
  • Age 25: At 25, you have considerable driving experience, and your driving habits are also not as same as that of a 16-year-old. Here, the average cost of insuring your vehicle is around $2800.
Age Average Annual Rates
16 $9,907
17 $8,777
18 $7,728
19 $5,535
20 $4,940
21 $3,911
22 $3,602
23 $3,296
24 $3,094
25 $2,807
40 $2,368

If you notice things here, as you age, the premium cost for you keeps on decreasing. Of course, along with the age, your driving habits play an important role. The number of collisions and violations might change the premium cost for you.

Is Tesla Model X car insurance expensive?

Now, this question often troubles car owners’ minds. Well, yes, as expensive as the Tesla Model X is, the cost to insure the same is also a bit high.

Let’s discuss the comparison here. The Tesla Model X car insurance cost is $494 more than the Lexus RS 350, a fierce competitor. While as compared to BMW X5, the cost of Tesla Model X car insurance is around $120 more. When compared to Audi Q7, the average cost of Tesla Model X car insurance is around $65 more. The difference between the Tesla Model X car insurance cost and the Cardillac XT5 insurance cost is $500, with Tesla Model X being on the expensive side.

Tesla Model X car model ranks 29 out of 36 SUV vehicles. Yes, Tesla is expensive, and so is car insurance. The probable high repair costs along with the expensive car parts are the significant reasons for the same.

However, if you own a Tesla model, and you are looking to insure your car, paying this amount is absolutely worth it. Regarding the expense factor, if you really desire to safeguard your expensive car, investing this amount is absolutely worth it.

Also, the aspects like the safety features of the car, along with the probability of heavy repairs in case, any unfortunate accident occurs play an important role that makes the insurance cost of Tesla Model X a bit expensive.

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Factors Impacting the Cost of Tesla Model X Insurance Rates

So, what are the factors impacting the cost of your Tesla Model X insurance? Well, checkout the answers below.

  1. Vehicle’s Age - If you own a new variant of the Tesla Model X and desire to insure the same, you need to pay a bit more when compared to other Tesla Models. A vehicle’s age plays an important role in terms of deciding the insurance rates for you.
  2. Your Age - This is another aspect playing an important role when it comes to your car insurance rates. As mentioned, the insurance rates are maximum for a 16-year-old driver, while it keeps on decreasing as the age increases.
  3. Your Location -This is another important aspect that decides your insurance rates. Aspects like accident statistics, theft cases, the population of the specific location, etc. are taken into consideration here.
  4. Your Driving Habits - What are the number of accidents and violations that you are involved in? The answer to this question tells a lot about your driving habits, and eventually, gives shape to your insurance rates too. Things like speeding tickets, DUI charges, and even wrong-parking tickets are taken into consideration here, and rightly so.
  5. Your Driving Experience - For how many years are you driving a car? The more experience you have, the less premium you pay. As simple as it is!
  6. The Insurance Provider - Insurance rates do vary for every insurance provider. Hence, make sure to do your research well, explore different options, and select the right insurance provider

The more you are right with the above-listed factors, the less premium you pay to get your car insured. There are numerous factors taken into consideration, but the above-listed are the major ones. They will largely give shape to your insurance rates along with future premiums.

Ways to Save Money on Tesla Model X Car Insurance

Firstly, is there any way to save money on Tesla Model X car insurance? Yes, there is. How? Explore the same below.

  • Compare the Options : As mentioned, the insurance rates do vary according to the insurance provider you go with, and hence, comparing various options is a reliable way to save your bucks. The more efficiently you compare the options, the easier it becomes for you to save your money.
  • Maintain the Credit Score : Your credit score deeply impacts insurance rates. If your credit score is decent, you can expect amazing discounts with your insurance rates.
  • Explore Discount Options : Make sure that you know every option that might provide you with discounts on your insurance rates. You must know the areas where you can claim your discounts and benefit yourself financially. If required, do consult with experts to ensure that you claim your discounts correctly.
  • Increasing the Deductibles : This is another reliable way of saving money on your Tesla Model X car insurance rates. The increased deductibles would mean a less premium for you, and hence, massive savings on your car insurance rates.
  • Use Telematics: When it comes to car insurance rates, you simply cannot ignore Telematics. Numerous car insurance companies use Telematics to assess the driving habits of the driver, and hence, figure out the correct car insurance rates. You can use Telematics, give your input, and get an idea of your car insurance rates.

Saving your insurance rates would be easy for you now. Just keep the above things in your mind, and you would be saving a precious few bucks on your vehicle’s insurance. In case, you face any confusion or issues while exploring car insurance options, you can consult experts, and get an idea of the correct ways to save money on your Tesla Model X car insurance.

Frequently Asked Questions
The average cost of Tesla Model X car insurance is $2368/Year. But, you must know that this cost might vary as per the insurance provider you select, your driving experience and habits, your location, etc.
Well, the definition of expensive varies for everyone. But, when compared to other options, Tesla Model X car insurance is a bit expensive. The repair costs along with the expensive car parts are the major reasons for the same.
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