Tesla Model Y
Laura Henley

Laura Henley

Laura is a Digital Copywriter in our (award-winning) marketing team, tasked with keeping you up to date with all the latest industry news and gossip. With a wealth of experience under her belt, there's no one better to keep you entertained and informed.

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All you need to know about insuring a Tesla Model Y

Ranging across insurance groups 46 to 49, the Model Y has attractive range and exceptional rapid charging ability but can be on the higher end to insure.

Insurance groups range from one to 50 and the lower the number, the cheaper your car insurance will be.

Insurance groups for the Tesla Model Y are pretty high. The rear-wheel drive is the most affordable of the three models and sits within insurance group 46.

The Long Range model is located in insurance group 48 while the Performance edition is positioned in group 49.

How much is Tesla Model Y insurance in the UK?

Based on a fully comprehensive policy with one driver holding a full UK driving licence, MoneySuperMarket data suggests the average annual premium for a Tesla Model Y would be £479.

This makes it the cheapest Tesla to insure, with the Model S at £615 a year, the Model 3 at £821 and the Model X at £1248.

Tesla Model Y

The cost of your Tesla Model Y insurance will depend on several factors, but the outright price will be a big determining factor. Your age can also greatly influence your insurance costs when you take out a Tesla Model Y lease as well as your driving history.

The rear-wheel drive Tesla Model Y costs £44,990, the Long-Range variant is worth £52,990 and the Performance edition is £59,990, making it one of the more premium cars on the road.

Compared to cars at the other end of the spectrum, the SKODA Fabia Hatchback and the Citroen C1 are both located in insurance group 1.

Both cars are a lot smaller when compared to the Tesla Model Y, are packed with less technology and made with more affordable materials. Both therefore come with significantly lower On The Road (OTR) prices.

It’s important to remember that you’ll benefit from great savings elsewhere if you choose to lease the Model Y, including more affordable charging costs. If you’re interested in business car leasing, you’ll benefit from 2% Benefit in Kind tax rates, too.

Tesla Model Y

As one of the more premium electric cars on the market, any Tesla is likely to be more expensive to insure than most electric cars. They’re made with high quality materials and renowned for their cutting edge technology and powerful driving experience.

Some electric cars feature parts that can be more expensive to repair when compared to combustion engine vehicles, which insurance providers have to factor into their costs.

However, Tesla continue to carve out incredibly safe cars so you can drive away without worry. In fact, Euro NCAP awarded the Model Y a five-star safety score with an impressive 97% score for adult occupants.

Should you take out a Tesla lease with Carparison, you could consider additional GAP insurance for further peace of mind throughout your term.

Interested in a Tesla Model Y lease?