Tesla Insurance

Insurers determine their premiums on the basis of the level of risk they face. The more miles you drive, the greater the statistical risk that a claim will be made. You can potentially reduce your premium by only taking out cover for the mileage you need. 

Improving your security, both on the vehicle itself, and how it is stored can reduce the risk of theft or incidents. If you can reduce the risk insurers face when insuring your vehicle, you can typically reduce your premium as well. 

Modifications that add value or increase the risk of incidents will tend to increase your premium. Performance enhancements, for example, could increase the risk of accidents which will likely increase your premium as well. 

Adding a named driver with a clean claims history and significant driving experience can be viewed favourably by insurers. This can lead to a cost reduction on your Tesla car insurance in the UK. 

It is standard practice for insurers to offer a discount on insurance premiums paid annually instead of monthly. This is one of the simplest ways to lower your overall Tesla insurance cost. 

This is the amount you pay on any insurance claim before your insurance kicks in. The higher your excess, the greater the discount you can typically achieve on your premium.

If you are looking for the best price on your Tesla insurance it makes sense to only take out the coverage you need. That said, you should cover any specific needs you have. For example, if you often travel to Europe, you may want to consider Tesla European cover as an add-on.

Your Tesla Model 3 insurance cost will be determined in part by the insurance group it is assigned. Model 3 Teslas can fit into a broad range of insurance groups, from group 36, all the way up to group 50 depending on the particular vehicle. 

As a high-performance vehicle of considerable value, the Model Y SUV sits in groups 46-50. These are on the highest end of the insurance group ranking scale.

The Tesla Model X SUV sits in group 50, which is the highest and most expensive insurance group. 

The Tesla Model S is a high-performance vehicle of significant value. It sits in insurance group 50. Group 50 is the highest insurance group in the UK.

Should the Tesla CyberTruck become available for sale in the UK, the insurance group it is assigned will be determined by its categorisation. If it is categorised as a commercial vehicle, it could be sorted into a lower insurance group than might be expected for a Tesla like this.