Affordable Tesla Model 3 Auto Insurance Quotes (2024)
Tesla Model 3 insurance rates cost $1,802/yr, or around $150/mo on average. Comprehensive, collision, and liability insurance cost around $439, $641, and $508, respectively. Tesla Model 3 insurance costs around $283 more per year than the average vehicle. Good drivers can save up to $743 a year on these costs by earning discounts on their policy.
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Kalyn Johnson
Insurance Claims Support & Sr. Adjuster
Kalyn grew up in an insurance family with a grandfather, aunt, and uncle leading successful careers as insurance agents. She soon found she has similar interests and followed in their footsteps. After spending about ten years working in the insurance industry as both an appraiser dispatcher and a senior property claims adjuster, she decided to combine her years of insurance experience with another...
Insurance Claims Support & Sr. Adjuster
UPDATED: Jun 13, 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 insurance industry 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 13, 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 insurance industry 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 about $283 more per year than the average vehicle with full coverage costing around $1,802 year or $150 a month. Good drivers can save up to $743 a year in policy discounts. Let’s take a quick look at Tesla Model 3 insurance rates, safety ratings, and more.
You can start comparing quotes for Tesla Model 3 car insurance rates from some of the best car insurance companies by using our free online tool now.
Tesla Model 3 Insurance Cost
The average Tesla Model 3 car 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 | $1,186 | $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?
Even though the average annual rate for the Tesla Model 3 is $1,802, your policy can be higher or lower depending upon your profile. Those factors include your age, home address, driving history, and the model year of your Tesla Model 3.
Age of the Vehicle
The average Tesla Model 3 car insurance rates are higher for newer models. For example, car insurance rates for a 2020 Tesla Model 3 are $1,802, while 2018 Tesla Model 3 rates 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 impact on Tesla Model 3 auto insurance rates. As an example, a 40-year-old driver could pay $190 less each month for their Tesla Model 3 auto insurance compared to a 20-year-old driver.
Driver Location
Where you live can have a large impact on Tesla Model 3 insurance rates. For example, drivers in Los Angeles may pay $1,549 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 car insurance with violations on their driving record.
Tesla Model 3 Safety Ratings
Your Tesla Model 3 car 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 car 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
The Tesla Model 3 safety features play a vital role in keeping passengers safe in crashes, but they can also help lower your Tesla Model 3 auto insurance rates. 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, you will pay more if you purchase Tesla Model 3 car insurance at the dealership, so be sure to shop around and compare Tesla Model 3 car insurance quotes from the best companies using our FREE tool below.
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Ways to Save on Tesla Model 3 Insurance
You have more options at your disposal to save money on your Tesla Model 3 car insurance costs. For example, try these five tips:
- Take Advantage of Referral Fees
- Take a Refresher Course as an Older Driver
- Buy a Tesla Model 3 with an Anti-Theft Device
- Move to the Countryside
- Use an Accurate Job Title When Requesting Tesla Model 3 Auto Insurance
Top Tesla Model 3 Insurance Companies
Who is the top car 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 | |||
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Frequently Asked Questions
Can I get discounts on Tesla Model 3 insurance?
Yes, many insurance companies offer discounts for Tesla Model 3 owners. You may be eligible for discounts based on factors such as your driving record, safety features on your vehicle, or bundling your insurance policies.
Are there any specific requirements for insuring a Tesla Model 3?
Insurance requirements can vary by state and insurance provider. Generally, you will need to meet the minimum liability coverage requirements set by your state, and if you have a loan or lease on your Tesla Model 3, your lender may require you to carry comprehensive and collision coverage as well.
Will installing an anti-theft device lower my Tesla Model 3 insurance rates?
Yes, installing an anti-theft device on your Tesla Model 3 can often result in lower insurance rates. Anti-theft devices make your vehicle less susceptible to theft, reducing the risk for insurance providers.
Can I choose between different levels of coverage for my Tesla Model 3 insurance?
Yes, you can typically choose between different levels of coverage, including liability-only, comprehensive, collision, and additional optional coverages. The level of coverage you choose will affect your insurance rates.
Are there any specialized insurance companies that focus on electric vehicles like the Tesla Model 3?
Yes, there are insurance companies that specialize in electric vehicles and may offer tailored coverage options for Tesla Model 3 owners. It’s worth considering these specialized providers as they may have a better understanding of the unique needs of electric vehicle owners.
Can I get insurance coverage for my Tesla Model 3 through my employer?
Some employers offer group insurance policies that may include coverage for personal vehicles, including the Tesla Model 3. Check with your employer’s benefits department to see if this is an option.
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Kalyn Johnson
Insurance Claims Support & Sr. Adjuster
Kalyn grew up in an insurance family with a grandfather, aunt, and uncle leading successful careers as insurance agents. She soon found she has similar interests and followed in their footsteps. After spending about ten years working in the insurance industry as both an appraiser dispatcher and a senior property claims adjuster, she decided to combine her years of insurance experience with another...
Insurance Claims Support & Sr. Adjuster
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.