Model Y Insurance Cost: Average Rates & What Drives Them

The Model Y is an electric crossover that sells in large numbers, and insurers price it as an expensive-to-repair EV rather than as an ordinary compact SUV. Several things drive that. Battery packs and large body parts can be costly to repair or replace, many repairs need technicians with EV training, and parts availability can lengthen repair times. Longer repairs mean more rental car days on a claim, which insurers also account for.

Because the car is new and popular, sources do not agree on one price. This page shows the main averages and then explains why the numbers differ.

Full coverage on the Model Y averages above the national figure in every source here. NerdWallet's Tesla analysis also gives an annual full coverage figure for the Model Y, shown below next to the MoneyGeek headline and the national numbers.

MoneyGeek puts the monthly full coverage average at $241/mo, and NerdWallet at $212/mo. Insurify lists $396/mo, which is much higher. The difference is mostly explained by what each source measures. Insurify's figure is for the 2024 model year specifically, a recent, high-value car. MoneyGeek averages across all model years it has data for, including older Model Ys that cost far less to insure, which pulls its average down. NerdWallet reports a rate for good drivers with good credit.

None of the three is a quote. Treat them as a range, and note that the Insurify number describes a newer car than the other two.

Among MoneyGeek's figures, a 2026 Model Y averages $380/mo, a 2025 averages $279/mo, and a 2020 averages $214/mo. If you are shopping used, an older car can cost much less to cover, and the price of repairs and value both shrink.

An EV's structure puts sensitive components close to areas that take damage in a crash. After a collision, an insurer may total a car sooner than a gasoline car because repair estimates reach a larger share of its value. Some shops decline EV work, and others require specific tools. Ask your insurer which repair shops are in its network, and ask whether OEM parts are required by the policy.

Charging equipment is also a question. A home charger can be covered in different ways, depending on whether it is installed as part of your house or carried as part of the car. A licensed insurance agent can sort out where it falls.

GEICO averages $232/mo here and State Farm $231/mo. Quotes from other companies can land well above or below those numbers.

Louisiana averages $481/mo for a Model Y, California $240/mo, and Idaho $132/mo.

• Compare at least three insurers, including ones that specialize in EVs.
• Ask whether your policy pays for a rental car during long repairs.
• Confirm whether glass, tire, and wheel damage are covered, since large glass roofs and big wheels are costly to replace.
• Consider the deductible you could pay after an accident without strain.
• Ask whether a home charger belongs on your auto or your homeowners policy.