For years, my husband had dreamed of owning a Tesla. As a self-proclaimed car enthusiast, he was captivated by the sleek design, lightning-fast acceleration, and cutting-edge technology. I, on the other hand, was never much of a car person. If I had it my way, I’d still be driving the 1979 Monte Carlo I learned to drive in, with its faded red interior and enough space to fit all my friends and our cheerleading gear.
But as Teslas became more mainstream, our family started playing an unofficial game of “spot the Tesla” during road trips. My husband’s fascination eventually turned into action when he dove deep into research, comparing various electric vehicles like Rivians and Polestars. After much deliberation, we finally made the leap and purchased a Tesla Model Y.
Falling in Love with Our Model Y
From the first test drive, I was hooked. The one-pedal driving took some getting used to, but before long, I loved the smooth ride and quick acceleration. In fact, I loved it a little too much—earning my first speeding ticket since 1999, thanks to our bright red Model Y catching every officer’s eye.
Road trips took on a new dynamic, too. On one memorable drive, we ignored the car’s suggestion to stop for a charge, thinking we could make it. The last 30 miles were tense—we turned off the air conditioning, silenced the radio, and crawled along at 40 mph just to reach the charging station. Our marriage survived that close call, and we’ve since learned to trust the car’s recommendations.
While charging stops were an adjustment, we made the best of them by stretching our legs, browsing bizarre convenience store finds, and playing silly car games. But just as we were settling into our new Tesla lifestyle, we encountered a major unexpected expense.
The Shocking Reality of Tesla Insurance Costs
When we received our insurance quote, we thought there had to be a mistake. But no—it was real. Insuring our Tesla Model Y would cost nearly as much as our monthly grocery bill.
We knew our premiums would be higher with two young adult sons on our policy, but nothing prepared us for the sheer cost of adding a Tesla. With our existing provider, the Tesla alone costs over $333 a month to insure, while our gas-powered Audi is half that price.
So, why are Teslas so expensive to insure? We soon learned the hard way:
- Expensive Repairs – Teslas are costly to fix, and the company tightly controls access to parts and repair services, making the process even pricier.
- Long Repair Times – Since repairs take longer due to limited availability of Tesla-certified repair shops and parts, insurance companies foot the bill for extended rental car coverage.
- Performance Classification – Tesla’s lightning-fast acceleration places it just below the insurance risk rating of a high-performance sports car, driving premiums sky-high.
Is a Tesla Worth the Insurance Costs?
Despite the unexpected expenses, we still love our Model Y. But if you’re considering switching to a Tesla, be sure to factor in insurance premiums—because the sticker price is just the beginning.
