Tesla Insurance Australia List – Who Tesla Drivers Are Using (& Avoiding)
Jesus Sisco
Whether your car is new or secondhand, comprehensive car insurance is a must, and insuring the Tesla Model Y is no different.
As with any car, there are plenty of variables that go into determining insurance premiums including:
- The insured value
- Exces
- Where and how the car is parked overnight
- Driving history & claims history
- Age
- No claims bonus
- Personal vs business
- Kilometres driven
While in the USA Tesla runs its own insurance company that reduces the cost of premiums based on their in-house risk factors, that insurance isn’t available in Australia, and it’s unclear when or if it will be.
So, who are Australian Tesla drivers using to insure their Model Y vehicles? Up until recently, many Aussie insurers wouldn’t even offer insurance for Teslas, with reports suggesting this is due to a number of factors like repairing damaged EVs requires importing parts to Australia, the computer and tech parts of an EV are more expensive to replace, there aren’t many service centres in Australia that can repair EVs and more.
Who Is the Most Tesla-Friendly Insurer in Australia?
According to Tesla owners across multiple Tesla Australia Facebook groups, the lowest premiums are found from Budget Direct, ING and AAMI. However, Tesla insurance can range anywhere from around $1,100 (Budget Direct) to $2,167 (QBE). GIO, AAMI, RAC and Budget Direct also seem to be the most popular choice for many Tesla Y owners across Australia.
Using
The below figures are based on comprehensive car insurance, assuming 10,000km driven a year, housed in a garage in Victoria and with a good driver’s record.
| Insurer | Cost |
| Budget Direct | $1,122 |
| ING | $1,153 |
| AAMI | $1,200 |
| GIO | $1,442 |
| CBA | $1,775 |
| Allianz | $1,861 |
| QBE | $2,167 |
| RACV | $1,930 |
Here’s another breakdown from a user on the Tesla Model 3 & Y Australia Facebook page.
- Brisbane location
- 2 drivers aged 55+
- No claims history
- 15,000kms driven per year
- Not used for work
- Not driven in peak times
- Night time garaged
- No finance
This is cost per annum, with an excess of roughly $1500 for each insurer.
| Insurer | Cost (annual) |
| NRMA | $860 |
| Allianz | $885 |
| Budget Direct | $1,315 |
| RACQ | $1,315 |
| APIA | $1,355 |
| Suncorp | $1,400 |
| AAMI | $1,715 |
| QBE | $2,520 |
Avoiding
| Insurer | Why avoid it? |
| Woolworths | Woolworths doesn’t currently have a policy for Teslas. |
| NRMA | Not covered in VIC |
| Coles | Coles doesn’t currently have a policy for Teslas. |
| Bingle | Bingle doesn’t currently have a policy for Teslas. |
| Bupa | Bupa doesn’t currently have a policy for Teslas. |
| MyStateBank | MyStateBank doesn’t currently have a policy for Teslas. |
| CGU | CGU doesn’t currently have a policy for Teslas. |
Tesla Insurance FAQs
How Does Windscreen Cover Work for Teslas?
Is EV Insurance Cheaper with Telematics?
Are There Tesla Insurers for Business Purposes?
What Happens in the Event of a Writeoff Incident?
READ MORE
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