Is Rivian Insurance or Tesla Insurance More Expensive?

Rivians generally cost more to insure on average than Teslas but only by about $16 more per month. That said, both types of vehicles are generally expensive to insure, which is partly due to the high purchase prices of electric vehicles. Fortunately, both Rivian’s and Tesla’s insurance programs use built-in app trackers in their vehicles to rate drivers on mileage and driving behavior. If you drive safely, you can earn a discount on your car insurance premium.

Rivian Insurance and Tesla Insurance are only sold to people who own their cars. However, both makers allow drivers to add cars of other makes and models to their policies for a bundle discount.

The biggest difference between Rivian Insurance vs. Tesla Insurance is that Rivian owners who use a Rivian service center to repair their cars but don’t carry Rivian Insurance may experience a more complicated claims process. The same does not hold true at Tesla service centers, which work seamlessly with other insurers. Here’s everything else you need to know about Rivian and Tesla Insurance.

Key Takeaways Full coverage costs $2,574 per year on average for a Tesla Model 3 or $2,758 for a Rivian. Rivian Insurance is available in considerably more states than Tesla Insurance. Both Rivian and Tesla will cover other cars as long as you own one of theirs. Using a third-party insurer and using the Rivian service center for a repair may be a bit complicated.

What Is Rivian Insurance?

Rivian is a California-based high-end electric-car manufacturer that offers car insurance in 48 states, with the policies being underwritten by Nationwide or Cincinnati Insurance.^[1] Most Rivian Insurance customers own Rivian vehicles.

For Rivian drivers, insurance rates are based on a tracking system, much like telematics. If you regularly use Rivian’s Driver+ features, which are the vehicle’s built-in safety devices, you may see a reduction in your premium when you renew your policy.^[2]

Rivian also offers standard car insurance for other make and models, as well as home, RV, boat and other types of insurance for adventure seekers.

How Does Rivian Insurance Work?

Once connected to the Rivian Cloud, the app tracks speed, braking, mileage and more to determine whether or not you are a safe or risky driver. Safe drivers can save as much as 15% using the vehicle’s Highway Assist function, which combines safety features with automation.^[2]

The automatic features listed below can be activated, according to the driver’s choosing. The more you use these features and exhibit safe driving skills, the more you can save:

• Automatic steering
• Lane change
• Speed change
• Cruise control

What Does Rivian Insurance Cover?

More so than other electric vehicles, Rivians are designed for outdoor-adventure-oriented drivers. Rivian Insurance also offers all the same coverages that are available through other car insurance carriers, including the following:

• Bodily injury liability
• Property damage liability
• Personal injury protection (PIP)
• Uninsured/underinsured motorist
• Comprehensive
• Collision
• New car replacement
• Medical payments
• Windshield replacement
• Gap insurance

Rivian will also cover cars of other make and models if you own a Rivian for a bundle discount.

What Isn’t Covered?

Just like any auto policy, a Rivian car insurance policy will contain exclusions. For example, car insurance will generally exclude losses related to intentional damages, racing and commercial use. In addition, any drivers specifically excluded in your policy will not be eligible for coverage and Rivian will not pay for any expenses related to routine repair and maintenance.

How Much Does Rivian Insurance Cost?

A Rivian full coverage car insurance policy underwritten by Nationwide will cost $2,758 per year on average. This equates to about $230 per month.^[3] Of course, actual rates will change based on your driving profile, claims history, location and other factors.

What Is Tesla Insurance?

Like Rivian, Tesla is an electric vehicle manufacturing company owned by the CEO of X (formerly Twitter), Elon Musk. Tesla also offers Tesla car insurance, but only in these states:^[4]

• Arizona
• California
• Colorado
• Illinois
• Maryland
• Minnesota
• Nevada
• Ohio
• Oregon
• Texas
• Utah
• Virginia

Unlike Rivian Insurance, Tesla only offers car insurance to drivers who own at least one Tesla model, whereas you can even cover a Toyota with Rivian Insurance because their policies are underwritten by large insurance carriers, Nationwide and Cincinnati Insurance, which cover more states and have wider options.

How Does Tesla Insurance Work?

In states where Tesla Insurance is available, except California, Tesla offers real-time driving behavior analysis that affects the rate.^[4] Unlike typical telematics driving programs, there is a built-in system in Teslas that allows them to generate information so there is no additional device needed. Based on driving behavior, safer drivers will pay less over time whereas riskier drivers can see a rate increase.

Rates for Tesla and non-Tesla vehicles will also be based on the usual rating factors, which include:

• Your location
• How much you drive per year
• How much coverage you buy
• Your age
• Driving experience
• Driving history
• Credit score (if allowed in your state)
• The type of job you hold
• Other household members’ driving history and ages
• The deductible you choose for collision and comprehensive coverage
• The vehicle’s safety rating
• Claims history

Tesla owners can buy a policy in the Tesla app by tapping the menu in the top-right corner and then tapping ‘Discover.’ If you do not have the car yet, you can tap “Get Tesla Insurance” in the pre-delivery task in the app.

If you bought a Tesla, you can also add non-Tesla vehicles to your policy for a bundle discount. Again, you can do all this on the app. Tesla owners can also contact 1-844-34-TESLA for a quote.^[4]

What Does Tesla Insurance Cover?

Tesla Insurance also offers all the same coverages that are available through other car insurance companies, including the following:

• Bodily injury liability
• Property damage liability
• PIP
• Uninsured/underinsured motorist
• Comprehensive
• Collision
• Gap
• Medical payments
• Windshield replacement

Tesla Insurance will also cover cars of other makes and models as long as you own a Tesla.

What Isn’t Covered?

Tesla car insurance covers the same or similar perils as most car insurance companies, including Rivian, as long as you have the right coverages. For instance, if you don’t buy collision coverage and cause an accident, the repairs on your car are on you. If you don’t have comprehensive coverage and your vehicle is stolen or gets totaled in a flood, the replacement is on you. If you owe more than what the Kelley Blue Book value is on the car and don’t have gap coverage, you’ll have to pay any outstanding balance that remains.

So, Tesla Insurance only excludes what’s in your exclusion list, so be sure to check it. Also, if you exclude a household member from your policy because they bring down your insurance score, make sure they do not drive your Tesla because they will not be covered, even if they drive in an emergency situation.

How Much Does Tesla Insurance Cost?

For a Tesla Model 3, the average Tesla Insurance cost for full coverage is roughly $2,574 a year, or around $215 a month in car insurance premiums on average.^[5]

What Are the Key Differences Between Rivian and Tesla Insurance?

Below, we highlight some key differences between Rivian and Tesla:

• While both Rivian and Tesla are high-end vehicles, Rivians are built for adventure so they can withstand more wear and tear than Teslas and their insurance is also built to withstand that sort of lifestyle.
• Rivian Insurance is available in more states than Tesla Insurance and offers more service centers and mobile service, so your car may get fixed while you’re at home.
• Rivian offers more insurance options, such as home insurance and insurance for water skis, ATVs, off-road bikes, RVs and more. Tesla only covers vehicles and sells solar roofs which come with a 25-year performance warranty and a 10-year warranty for losses related to roof mounting and leaks.^[6] There are more price breaks in bundling with Rivian if the driver has a very adventurous lifestyle.
• Tesla does not offer its user-based car insurance to drivers in California but the Rivian Cloud-based program is available to California Rivian owners.
• If you use a Rivian Service Center and have another insurer, you may have to pay up front and file a claim with your insurance company. Tesla, however, works seamlessly with all third-party insurance companies.

In addition, the availability of other insurance products like homeowners insurance and RV insurance will vary:

Types of Insurance	Rivian	Tesla
Auto Insurance	Yes	Yes
Home Insurance	Yes	No
RV Insurance	Yes	No
Accessory Insurance (pop-up tents, etc.)	Yes	No
ATV Insurance	Yes	No
Boat Insurance	Yes	No
Other Watercraft (Jet Skis etc)	Yes	No
Off-road Bikes	Yes	N/A
Solar Panels/Warranty	No	Yes

Similarities

While there are some distinguishing features between Rivian Insurance and Tesla Insurance, both insurance products share the below similarities:

• Both Rivian and Tesla use telematics-like tracking to rate drivers, who may see a drop or rise in insurance rates based on their driving behavior and mileage. Both manufacturers offer vehicles with the built-in technology required to track driving behavior and mileage, without the use of any other device.
• Rivian Insurance is available for non-Rivian vehicles and so is Tesla Insurance, as long as you own at least one of their vehicles. You can add on any other type of car, truck or suv after buying a Rivian or Tesla.

Pricing

The average Rivian Insurance policy costs $2,758 a year while the average Tesla policy costs an average $2,574 a year.^[3][5] Tesla Insurance is cheaper than Rivian Insurance but only slightly. You can lower your rates even further if you drive safely and maintain a clean driving record.

Both Rivian and Tesla cost more than the average electric vehicle insurance rates, partly because both are considered high-end cars.

Both makers create very technologically advanced vehicles, which are more expensive to buy and more expensive to insure.

How To Get Insurance for Your Electric Vehicle

You can only buy Rivian Insurance with built-in tracking, you need to own a Rivian but can add other cars to that policy. Otherwise, you are simply buying car insurance from either Nationwide or Cincinnati Insurance, depending on where you live, because those are the two carriers that work with Rivian.

You can only buy Tesla Insurance if you own a Tesla, but you can add other cars to that policy.

It’s a good idea to find out what rates Rivian or Tesla will offer you and also compare all other rates to see who will offer you the best price.

Keep in mind that if you don't have Rivian Insurance, you’ll have to pay out of pocket at a Rivian Service Center and file a claim with your insurer. Rivian recommends using their service centers so as to not void the warranty. The same is not true for Tesla, who works seamlessly with other insurers.