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Tesla Insurance in Texas

Tesla Model X P100D interior logo at the rear trunk. Tesla motor company badge

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There are a lot of benefits to transitioning from gasoline-powered vehicles to all-electric ones, such as Teslas. Most notably, you can save a substantial amount of money each month that would otherwise go towards paying for gas by using free charging stations. The environmental impacts of driving electric cars like Teslas are far smaller than those of a fuel-powered vehicle, which can release a harmful amount of carbon emissions. But beyond these seemingly obvious advantages, there are also some additional responsibilities to take on, including finding insurance coverage that’s affordable and protective for you and your vehicle.

In Texas, high minimum car insurance requirements make insurance costs higher than in other states. When you add the additional costs of insuring an all-electric vehicle on top of that, you can end up spending a hefty amount each month on your Tesla insurance premium. Read on to learn more about the Tesla company and what they do, the typical cost of insuring a vehicle as a Texas driver, how much Tesla insurance can cost in the state, and a breakdown of the company’s in-house insurance program available to Texan customers.

What Is Tesla?

Tesla is a manufacturer that designs and creates energy-efficient products, most notably their line of all-electric vehicles. The company also designs and sells rooftop solar panels you can use to harvest energy from the sun to power your home. Currently, Tesla has four vehicles as part of its lineup: the Model S, Model 3, Model Y, and Model X, with their first truck design, the Cybertruck, already in the works. With gas prices continuing to rise and the state of the environment constantly in question, it’s easy to understand why more and more drivers are transitioning to electric cars.

One of the major advantages of driving a Tesla is the ability to charge your vehicle at home and at the company’s many public charging, including the fast-charging network of Supercharger stations. While you can certainly save money on gas with an electric car, it’s important to acknowledge that Teslas can come with a host of additional costs. Because these vehicles are so uniquely designed, they can only have service work at Tesla-approved body shops with trained technicians. Teslas can also cost a lot to insure, as the cost of ordering parts and repairing damages can be substantially more expensive than those of standard vehicles.

How Much Is Car Insurance in Texas?

According to Value Penguin, the cost of car insurance in Texas is, on average, $1,872 per year for an insurance plan that includes collision and comprehensive coverage. Per month, this averages out to payments of $156. For minimum coverage, they report that the average rate in Texas is about $665 per year, which comes out to approximately $56 per month. In comparison, the average cost of full coverage auto insurance in the United States is about $2,058 per year, or $171 per month.

While the Texan average is indeed lower than the national one, Value Penguin still found that Texas ranked as the 21st most expensive state for minimum coverage car insurance. This is partially because the state requires all drivers to have a minimum amount of insurance of $30,000 per person and $60,000 per crash for bodily injury liability and another $25,000 per crash for property damage liability, increasing the demand for insurance and subsequently its price. Texas is also one of the most populated states in the country, with several metropolitan areas with high traffic and risk of collision and theft.

How Much Does Tesla Insurance Cost in Texas?

While insurance for a standard vehicle may not be too expensive if you live in Texas, it’s important to consider the differences in demand, value, and coverage costs that come along with driving a Tesla. Tesla vehicles are inherently more expensive to insure. They’re custom built with specially designed parts and technology systems that only expertly trained technicians can repair. According to Nerd Wallet, it costs approximately $2,063 per year to pay full coverage insurance for a Tesla in the state of Texas. Note that insurance rates can change substantially based on factors beyond your vehicle and location, including:

  • Age: Your age can make a significant difference in how much you pay for Tesla car insurance. Typically, younger drivers have to pay more due to their lack of experience on the road, while senior drivers also have higher rates because of slower reaction times and decreased hearing and vision.
  • Driving Record: Most car insurance companies look at your driving record before calculating your monthly premium to determine how much of a risk you are to insure. People with driving records clean of accidents and citations can often score a discounted monthly premium.
  • Credit Score: Similar to your driving record, your credit score can provide insurance companies with helpful information for determining how trustworthy you are to make your payments. People with stronger credit often pay less, while those with weak credit have higher premiums.

What Is Tesla Insurance?

Tesla actually has its own insurance coverage available to their customers. Rather than using factors such as your age, driving record, or financial history to determine your premium, Tesla insurance uses technology already in your vehicle to assign you a safety score each month based on your driving habits, which they then use to calculate your premium for the upcoming month. According to Value Penguin, Tesla insurance is the cheapest coverage option for Teslas in Texas at an average rate of $2,030 per year, almost $600 cheaper than the next most affordable option, State Farm, at $2,626 per year.

Tesla Insurance is available in the following states:

  • Arizona
  • Colorado
  • Illinois
  • Ohio
  • Oregon
  • Texas
  • Virginia

No matter what approach you take toward finding the best insurance for your Tesla, it’s important that you dedicate the proper time and effort toward researching your options to determine which company offers the best value. In Texas, you have various insurance options available to you, including Tesla’s own insurance program, so explore all your options before committing to a specific company.

FIXD Research Team

At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.

We’re here to help you simplify car care and save, so this post may contain affiliate links to help you do just that. If you click on a link and take action, we may earn a commission. However, the analysis and opinions expressed are our own.


About the Author

FIXD Research Team

FIXD Research Team

At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.

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