Tesla Model 3 Insurance Rates

Estimated insurance prices for a Tesla Model 3 are $1,536 every 12 months with full coverage. Comprehensive costs on average $332, collision insurance costs $680, and liability coverage is estimated at $388. A policy with only liability insurance costs approximately $434 a year, and a high-risk policy costs around $3,350. Teen drivers pay the most at up to $5,626 a year.

Average premium for full coverage: $1,536

Premium estimates by type of coverage:

These estimates include $500 policy deductibles, 30/60 liability coverage, and includes uninsured/under-insured motorist coverage. Rates include averaging for all U.S. states and for different Model 3 trim levels.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Living in a larger city has a large influence on auto insurance rates. Rural areas are statistically proven to have more infrequent collision claims than larger metro areas. The price range example below illustrates the effect of geographic area on car insurance rates.

These rate differences demonstrate why anyone shopping for car insurance should get quotes based on a specific location and their own driving history, rather than using price averages.

Use the form below to get customized rates for your location.

More Rate Information

The chart below details average Tesla Model 3 insurance rates for different risk profiles and scenarios.

• The lowest rate with discounts is $856
• Choosing higher $1,000 deductibles can save around $228 annually
• The average price for a 40-year-old good driver with $500 deductibles is $1,536
• Choosing more expensive low deductibles for comp and collision coverage increases the price to $1,986
• Drivers with multiple violations and an at-fault accident could pay upwards of $3,350
• An auto insurance policy to insure a teenage driver with full coverage may cost $5,626 each year

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Car insurance prices for a Tesla Model 3 also have a wide range based on physical damage deductibles and liability limits, your driving record, and the trim level of your Model 3.

Choosing high deductibles can save as much as $680 a year, while increasing your policy's liability limits will cost you more. Moving from a 50/100 liability limit to a 250/500 limit will cost up to $349 extra every 12 months. View Rates by Deductible or Liability Limit

An older driver with no driving violations and higher deductibles may only pay around $1,400 annually on average, or $117 per month, for full coverage. Prices are highest for drivers in their teens, since even excellent drivers will be charged upwards of $5,600 a year. View Rates by Age

If you have a few violations or you were responsible for an accident, you may be forking out at a minimum $1,800 to $2,500 extra annually, depending on your age. High-risk driver insurance ranges around 44% to 130% more than average. View High Risk Driver Rates

Where you choose to live plays a big part in determining prices for Tesla Model 3 insurance rates. A good driver about age 40 could pay as low as $1,100 a year in states like New Hampshire, Ohio, and Utah, or as much as $2,070 on average in Florida, Michigan, and New York.

View Chart as Image

How to Shop for Cheap Tesla Model 3 Insurance

Finding better rates on auto insurance takes being a good driver, maintaining a good credit score, being claim-free, and possibly raising deductibles. Take the time to compare rates every year by obtaining price quotes from direct companies, and also from local exclusive and independent agents.

The following list is a brief summary of the coverage data covered in the above illustrations.

• You may be able to save as much as $190 per year just by shopping early and online
• Increasing policy deductibles could save as much as $675 each year
• Drivers age 16 to 20 are expensive to insure, possibly costing $469 per month if the policy includes full coverage
• Drivers that tend to have accidents or serious violations may pay on average $1,810 more each year than a safer driver