Tesla Model 3 Auto Insurance (2024)
Tesla Model 3 insurance rates are $1,802 a year, or around $150 a month on average. You can find cheap Tesla Model 3 insurance rates if you are a good driver—Mature drivers with good driving records may find rates as low as $1,059 a year.
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Daniel Walker
Licensed Auto Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Auto Insurance Agent
UPDATED: Jun 25, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Jun 25, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
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Key takeaways:
- Full coverage costs around $1,802 a year or $150 each month
- A liability-only policy costs around $722 a year or $60 each month
- Highest rates are for teenage drivers at around $6,586 a year or $549 each month
- Good drivers can save as much as $743 a year by earning policy discounts
- Tesla Model 3 insurance costs around $283 more per year than the average vehicle
Tesla Model 3 insurance rates are $150 per month for full coverage which is about $1,800 per year. You can spend $283 more per year when you insure a Telsa Model 3. Continue reading to learn how you can save more money on Tesla Model 3 insurance rates.
You can start comparing quotes for Tesla Model 3 auto insurance rates from some of the best auto insurance companies by using our free online tool now.
Tesla Model 3 Insurance Cost
The average Tesla Model 3 auto insurance rates are $1,802 a year or $150 a month.
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Are Tesla Model 3s Expensive to Insure?
The chart below details how Tesla Model 3 insurance rates compare to other electric luxury sedans like the Tesla Model S.
| Vehicle | Comprehensive | Collision | Liability | Total |
| Tesla Model 3 | $444 | $906 | $316 | $1,802 |
| Tesla Model S | $582 | $1186 | $316 | $2,220 |
However, there are a few things you can do to find the cheapest Tesla insurance rates online.
What Impacts the Cost of Tesla Model 3 Insurance?
The Tesla Model 3 trim and model you choose can impact the total price you will pay for Tesla Model 3 auto insurance coverage.
Age of the Vehicle
Older Tesla Model 3 models generally cost less to insure. For example, auto insurance for a 2020 Tesla Model 3 costs $1,802, while 2018 Tesla Model 3 insurance costs are $1,744, a difference of $58.
| Model Year | Comprehensive | Collision | Liability | Total |
| 2020 Tesla Model 3 | $444 | $906 | $316 | $1,802 |
| 2019 Tesla Model 3 | $424 | $870 | $332 | $1,762 |
| 2018 Tesla Model 3 | $406 | $864 | $338 | $1,744 |
Driver Age
Driver age can have a significant effect on Tesla Model 3 auto insurance rates. For example, 20-year-old drivers pay $2,204 more for their Tesla Model 3 auto insurance each year than 30-year-old drivers.
Driver Location
Where you live can have a large impact on Tesla Model 3 insurance rates. For example, drivers in Jacksonville may pay $1,081 a year more than drivers in Indianapolis.
Your Driving Record
Your driving record can have an impact on the cost of Tesla Model 3 auto insurance. Teens and drivers in their 20’s see the highest jump in their Tesla Model 3 auto insurance with violations on their driving record.
Tesla Model 3 Safety Ratings
Your Tesla Model 3 auto insurance rates are tied to the safety ratings of the Tesla Model 3. See the breakdown below:
| Test Type | Rating |
| Small overlap front: driver-side | Good |
|---|---|
| Small overlap front: passenger-side | Good |
| Moderate overlap front | Good |
| Side | Good |
| Roof strength | Good |
| Head restraints and seats | Good |
| Source: Insurance Institute for Highway Safety | |
Tesla Model 3 Crash Test Ratings
Good Tesla Model 3 crash test ratings mean the VW is safer, which could mean cheaper Tesla Model 3 auto insurance rates.
| Vehicle Tested | Overall | Frontal | Side | Rollover |
| 2020 Tesla Model 3 4 DR RWD | 5 stars | 5 stars | 5 stars | 5 stars |
| 2020 Tesla Model 3 4 DR AWD | 5 stars | 5 stars | 5 stars | 5 stars |
| 2019 Tesla Model 3 4 DR RWD | 5 stars | 5 stars | 5 stars | 5 stars |
| 2019 Tesla Model 3 4 DR AWD | 5 stars | 5 stars | 5 stars | 5 stars |
| 2018 Tesla Model 3 4 DR RWD | 5 stars | 5 stars | 5 stars | 5 stars |
| 2018 Tesla Model 3 4 DR AWD | N/R | N/R | 5 stars | 5 stars |
| 2017 Tesla Model 3 DR RWD | N/R | N/R | N/R | N/R |
| 1-5 Star Rating Scale, N/R = No Rating | Source: National Highway Traffic Safety Administration | ||||
|---|---|---|---|---|
Tesla Model 3 Safety Features
Having a variety of safety features on your Tesla Model 3 can help lower your Tesla Model 3 insurance costs. The Tesla Model 3’s safety features include:
- Driver Air Bag
- Passenger Air Bag
- Front Head Air Bag
- Rear Head Air Bag
- Front Side Air Bag
- 4-Wheel ABS
- 4-Wheel Disc Brakes
- Brake Assist
- Electronic Stability Control
- Daytime Running Lights
- Child Safety Locks
- Traction Control
- Blind Spot Monitor
- Auto-Leveling Headlights
- Lane Departure Warning
- Lane Keeping Assist
- Cross-Traffic Alert
Tesla Model 3 Finance and Insurance Cost
If you are financing a Tesla Model 3, most lenders will require your carry higher Tesla Model 3 coverage options including comprehensive coverage, so be sure to shop around and compare Tesla Model 3 auto insurance rates from the best companies using our FREE tool below.
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5 Ways to Save on Tesla Model 3 Insurance
There are many ways that you can save on Tesla Model 3 auto insurance. Below are five actions you can take to find cheap Tesla Model 3 auto insurance rates.
- Move to the Countryside
- Talk to Your Credit Card Company to Save on Rental Car Costs
- Don’t Always Pick the Cheapest Tesla Model 3 Insurance Policy
- Wait Six Years for Accidents to Disappear from Your Record
- Buy a Dashcam for Your Tesla Model 3
Top Tesla Model 3 Insurance Companies
Who is the best auto insurance company for Tesla Model 3 insurance rates? While the actual rates you pay will depend on many factors, here are some of the top companies offering Tesla Model 3 auto insurance coverage (ordered by market share). Many of these companies offer discounts for security systems and other safety features that the Tesla Model 3 offers.
| Rank | Company | Volume | Market Share |
| 1 | State Farm | $65,615,190 | 9.3% |
| 2 | Geico | $46,106,971 | 6.6% |
| 3 | Progressive | $39,222,879 | 5.6% |
| 4 | Liberty Mutual | $35,600,051 | 5.1% |
| 5 | Allstate | $35,025,903 | 5.0% |
| 6 | Travelers | $28,016,966 | 4.0% |
| 7 | USAA | $23,483,080 | 3.3% |
| 8 | Chubb | $23,388,385 | 3.3% |
| 9 | Farmers | $20,643,559 | 2.9% |
| 10 | Nationwide | $18,442,145 | 2.6% |
| Source: Insurance Information Institute | |||
Compare Free Tesla Model 3 Insurance Quotes Online
Save on your Tesla Model 3 auto insurance rates by taking advantage of our FREE comparison tool.
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Frequently Asked Questions
Is auto insurance for a Tesla Model 3 more expensive than for other vehicles?
Auto insurance for a Tesla Model 3 is typically more expensive than for other vehicles due to several factors. Firstly, Tesla vehicles are known for their advanced technology and high repair costs, which can drive up insurance premiums. Additionally, the Model 3 is an electric vehicle, and the cost of repairing or replacing its unique components, such as the battery, can be higher than for traditional cars. The insurance rates can also depend on various factors like the driver’s age, location, driving history, and coverage options.
What are some specific features that affect Tesla Model 3 insurance rates?
Several features of the Tesla Model 3 can influence insurance rates. Some notable factors include:
- Autopilot: The Model 3’s Autopilot system, which offers advanced driver assistance features, may affect insurance rates. While Autopilot can enhance safety, insurance companies may consider the potential risks associated with this technology.
- Safety Ratings: The Model 3 has consistently received high safety ratings. Its safety features, such as collision avoidance systems and strong structural design, can lead to lower insurance rates.
- Theft Prevention Measures: Tesla vehicles are equipped with robust security features, including GPS tracking and immobilization systems, reducing the risk of theft. These measures can positively impact insurance premiums.
Are there any insurance discounts available for Tesla Model 3 owners?
Yes, Tesla Model 3 owners may be eligible for various insurance discounts. Some common discounts that may apply include:
- Safety Features Discount: Tesla Model 3’s advanced safety features can help owners qualify for lower premiums.
- Green Vehicle Discount: As an electric vehicle, the Model 3 is considered environmentally friendly. Some insurance companies offer discounts for eco-friendly vehicles.
- Multi-Vehicle Discount: If you insure your Tesla Model 3 and other vehicles with the same insurance provider, you may be eligible for a multi-vehicle discount.
- Good Driver Discount: Maintaining a clean driving record without accidents or traffic violations can lead to lower insurance rates.
Should I choose a specialized insurance provider for my Tesla Model 3?
While there are specialized insurance providers catering specifically to electric vehicles, it is not necessary to choose one for your Tesla Model 3. Many mainstream insurance companies offer coverage for electric vehicles and have adapted their policies accordingly. It is recommended to shop around and compare quotes from different insurers to find the best coverage and rates for your specific needs.
Are there any additional considerations when insuring a Tesla Model 3?
When insuring your Tesla Model 3, it is important to consider the following:
- Coverage Levels: Determine the appropriate coverage limits for your needs, including liability, comprehensive, collision, and uninsured/underinsured motorist coverage.
- Deductibles: Decide on a deductible amount that you can comfortably afford in case of a claim. Higher deductibles usually result in lower premiums but require you to pay more out-of-pocket in the event of an accident.
- OEM Parts: If you prefer using original equipment manufacturer (OEM) parts for repairs, ensure that your insurance policy provides coverage for OEM parts specifically.
- Charging Station Coverage: If you have a home charging station or frequently use public charging stations, verify that your insurance policy covers damages or losses related to charging equipment.
Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
Secured with SHA-256 Encryption
Daniel Walker
Licensed Auto Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Auto Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.