Tesla Model 3 Insurance Rates

Estimated auto insurance rates for a Tesla Model 3 are $1,536 annually with full coverage. Comprehensive insurance costs an estimated $332 a year, collision insurance costs $680, and liability costs $388. Liability-only coverage costs as little as $434 a year, and high-risk coverage costs $3,350 or more. Teen drivers pay the most at up to $5,626 a year.

Average premium for full coverage: $1,536

Premium estimates broken down by type of coverage:

Estimates include $500 policy deductibles, split liability limits of 30/60, and includes medical and uninsured motorist coverage. Rates include averaging for all U.S. states and Model 3 trim levels.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Your location can have significant affects on car insurance rates. More rural locations are statistically proven to have fewer collision claims than larger metro areas. The diagram below illustrates how rural and urban location affects insurance prices.

These rate differences demonstrate why it is important to compare rates for a targeted area and their own personal driving habits, instead of using price averages.

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

Detailed Rate Analysis

The chart below details average Tesla Model 3 insurance rates for other coverage scenarios.

• The lowest rate with discounts is $856
• Drivers who choose higher $1,000 deductibles will pay approximately $1,308 annually
• The estimated rate for a 40-year-old good driver who has $500 deductibles is $1,536
• Choosing low $100 deductibles for comprehensive and collision insurance costs an additional $450 every year
• Higher-risk drivers with multiple violations and an at-fault accident could pay up to $3,350
• An auto insurance policy with full coverage for a teen driver can cost as much as $5,626 a year

View Chart as Image

Insurance prices for a Tesla Model 3 also have a wide range based on the model of your Model 3, your driving record, and liability limits and deductibles.

Older drivers with a clean driving record and high physical damage deductibles may pay as little as $1,400 per year on average, or $117 per month, for full coverage. Prices are highest for drivers in their teens, where even without any violations or accidents they can expect to pay at least $5,600 a year. View Rates by Age

If you have a few violations or you caused a few accidents, you may be forking out $1,800 to $2,500 extra annually, depending on your age. A high-risk auto insurance policy can cost as much as 44% to 130% more than average. View High Risk Driver Rates

Choosing high deductibles could save up to $680 every year, while buying higher liability limits will increase premiums. Moving from a 50/100 bodily injury limit to a 250/500 limit will cost up to $349 more per year. View Rates by Deductible or Liability Limit

Where you choose to live makes a big difference in Tesla Model 3 insurance prices. A 40-year-old driver could pay as low as $1,100 a year in states like Utah, Ohio, and New Hampshire, or as much as $2,070 on average in New York, Michigan, and Florida.

View Chart as Image

How to Buy Low Cost Tesla Model 3 Insurance

Finding better rates on car insurance not only requires avoiding accidents and claims, but also having a good credit history, being claim-free, and deciding if full coverage is necessary. Set aside time to shop around at least once a year by quoting rates from direct companies, and also from several local insurance agents.

The points below are a review of the primary concepts that were raised in the charts and tables above.

• You may be able to save approximately $190 per year just by quoting early and online
• Higher risk drivers who have several accidents or serious violations pay on average $1,810 more annually to insure a Tesla Model 3
• Increasing policy deductibles could save up to $675 each year
• Drivers under the age of 20 are charged the highest prices, possibly costing $469 per month including comprehensive and collision insurance