Tesla Model 3 Insurance Rates

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View 2018 Tesla Model 3 Car Insurance Quotes in 2025

Finding the cheapest insurance for a new or used Tesla Model 3 can normally be difficult, but you can learn the following methods and make it easy. There are more efficient ways to find car insurance online and we'll show you the quickest way to price shop coverage on a Tesla and locate the cheapest rates from both online companies and local agents. If you are insured now or need a new policy, yo...

Dani Best

Licensed Insurance Producer

Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...

Licensed Insurance Producer

UPDATED: Mar 30, 2024

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Average auto insurance rates for a Tesla Model 3 are $1,588 annually for full coverage. Comprehensive insurance costs on average $344 each year, collision costs $724, and liability is estimated at $384. A policy with just liability insurance costs approximately $432 a year, with coverage for high-risk drivers costing $3,470 or more. 16-year-old drivers receive the highest rates at $5,792 a year or more.

Average premium for full coverage: $1,588

Rate estimates by individual coverage type:

Comprehensive $344
Collision $724
Liability $384

These estimates include $500 policy deductibles, 30/60 liability limits, and includes medical and UM/UIM coverage. Rates are averaged for all states and Model 3 models.

Price Range by Coverage and Risk

For the average driver, prices range go from as cheap as $432 for just liability insurance to a high rate of $3,470 for a driver required to buy high-risk insurance.

Liability Only $432
Full Coverage $1,588
High Risk $3,470

Price Range by Location

Living in a larger city can make a big difference on car insurance rates. Rural areas tend to have fewer accident claims than congested cities.

The graphic below illustrates how location impacts car insurance rates.

Rural Areas $1,191
Small Cities $1,667
Large Cities $2,144

These examples show why all drivers should get quotes based on a specific location and their own personal driving habits, instead of making a decision based on rate averages.

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

Enter your zip code below to view companies based on your location that have cheap auto insurance rates.

More Rate Details

The chart below shows estimated Tesla Model 3 insurance rates for different risk profiles and scenarios.

  • The best full coverage rate is $881
  • Choosing higher $1,000 deductibles can save around $242 a year
  • The estimated rate for a 40-year-old driver with $500 deductibles is $1,588
  • Buying low deductibles for comp and collision coverage costs an additional $474 annually
  • Higher-risk drivers with multiple tickets or accidents could pay upwards of $3,470 or more
  • The cost with full coverage for a 16-year-old driver may cost $5,792 each year

View Chart as Image

Tesla Model 3 insurance cost comparison chart
Column chart showing full coverage Tesla Model 3 insurance prices range from $881 to $5,792

Insurance rates for a Tesla Model 3 can also vary considerably based on the trim level of your Model 3, your driver profile, and policy deductibles and limits.

More mature drivers with no violations or accidents and high physical damage deductibles may pay as low as $1,500 annually on average for full coverage. Rates are highest for teen drivers, where even without any violations or accidents they should be prepared to pay upwards of $5,700 a year. View Rates by Age

If you like to drive fast or you caused a few accidents, you could be paying at a minimum $1,900 to $2,600 additional per year, depending on your age. Insurance for high-risk drivers ranges from 45% to 133% more than the average rate. View High Risk Driver Rates

Opting for high physical damage deductibles can save as much as $720 annually, whereas increasing liability limits will cost you more. Going from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $345 more each year. View Rates by Deductible or Liability Limit

Where you live plays a big part in determining prices for Tesla Model 3 insurance prices. A good driver about age 40 could pay as low as $1,050 a year in states like Idaho, Maine, and Iowa, or at least $2,260 on average in Michigan, Louisiana, and New York.

Tesla Model 3 Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,434 -$154 -9.7%
Alaska $1,216 -$372 -23.4%
Arizona $1,316 -$272 -17.1%
Arkansas $1,588 -$0 0.0%
California $1,810 $222 14.0%
Colorado $1,514 -$74 -4.7%
Connecticut $1,628 $40 2.5%
Delaware $1,794 $206 13.0%
Florida $1,982 $394 24.8%
Georgia $1,466 -$122 -7.7%
Hawaii $1,142 -$446 -28.1%
Idaho $1,076 -$512 -32.2%
Illinois $1,180 -$408 -25.7%
Indiana $1,198 -$390 -24.6%
Iowa $1,070 -$518 -32.6%
Kansas $1,506 -$82 -5.2%
Kentucky $2,164 $576 36.3%
Louisiana $2,348 $760 47.9%
Maine $978 -$610 -38.4%
Maryland $1,308 -$280 -17.6%
Massachusetts $1,266 -$322 -20.3%
Michigan $2,754 $1,166 73.4%
Minnesota $1,330 -$258 -16.2%
Mississippi $1,902 $314 19.8%
Missouri $1,408 -$180 -11.3%
Montana $1,704 $116 7.3%
Nebraska $1,250 -$338 -21.3%
Nevada $1,904 $316 19.9%
New Hampshire $1,144 -$444 -28.0%
New Jersey $1,774 $186 11.7%
New Mexico $1,404 -$184 -11.6%
New York $1,672 $84 5.3%
North Carolina $912 -$676 -42.6%
North Dakota $1,300 -$288 -18.1%
Ohio $1,092 -$496 -31.2%
Oklahoma $1,628 $40 2.5%
Oregon $1,454 -$134 -8.4%
Pennsylvania $1,512 -$76 -4.8%
Rhode Island $2,116 $528 33.2%
South Carolina $1,438 -$150 -9.4%
South Dakota $1,338 -$250 -15.7%
Tennessee $1,388 -$200 -12.6%
Texas $1,912 $324 20.4%
Utah $1,176 -$412 -25.9%
Vermont $1,084 -$504 -31.7%
Virginia $950 -$638 -40.2%
Washington $1,224 -$364 -22.9%
West Virginia $1,456 -$132 -8.3%
Wisconsin $1,096 -$492 -31.0%
Wyoming $1,414 -$174 -11.0%

View Chart as Image

Tesla Model 3 insurance rates by U.S. city

With so much variability in rates, the only way to know exactly what you will pay is to do a rate comparison from multiple companies. Each auto insurer utilizes a different rate formula, and rates can be significantly different between companies.

Tesla Model 3 Insurance Rates by Model Year
Model Year Comprehensive Collision Liability Total Premium
2024 Tesla Model 3 $424 $870 $332 $1,762
2023 Tesla Model 3 $406 $864 $338 $1,744
2022 Tesla Model 3 $394 $842 $354 $1,726
2021 Tesla Model 3 $380 $808 $364 $1,688
2020 Tesla Model 3 $358 $780 $376 $1,650
2019 Tesla Model 3 $344 $724 $384 $1,588
2018 Tesla Model 3 $332 $680 $388 $1,536

Rates are averaged for all Tesla Model 3 models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.

How to Buy Cheap Tesla Model 3 Insurance

Saving money on insurance for a Tesla Model 3 takes being safe and accident-free, having good credit, eliminating unneeded coverage, and insuring your home and auto with the same company. Spend time shopping around at every policy renewal by quoting rates from direct carriers like Progressive and GEICO, and also from local insurance agents.

Below you'll find a brief summary of the data touched on above.

  • Insureds who require more liability protection will pay around $420 each year to raise limits from a minimum limit to higher 250/500 limits
  • Drivers can save as much as $200 per year simply by quoting online in advance
  • Increasing deductibles could save up to $725 each year
  • Youthful drivers pay higher rates, costing as high as $483 per month if they have full coverage

Rates by Driver Age

Tesla Model 3 Insurance Rates by Driver Age
Driver Age Premium
16 $5,792
20 $3,702
30 $1,668
40 $1,588
50 $1,450
60 $1,424

Full coverage, $500 deductibles

Rates by Deductible

Tesla Model 3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,062
$250 $1,840
$500 $1,588
$1,000 $1,346

Full coverage, driver age 40

Rates by Liability Limit

Tesla Model 3 Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,588
50/100 $1,665
100/300 $1,761
250/500 $2,010
100 CSL $1,703
300 CSL $1,914
500 CSL $2,068

Full coverage, driver age 40

Rates for High Risk Drivers

Tesla Model 3 Insurance Rates for High Risk Drivers
Age Premium
16 $8,330
20 $5,900
30 $3,560
40 $3,470
50 $3,308
60 $3,280

Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident

If a financial responsibility filing is required, the additional charge below may also apply.

SR-22 Surcharge $231

Potential Rate Discounts

If you qualify for discounts, you may save the amounts shown below.

Discount Savings
Multi-policy $87
Multi-vehicle $85
Homeowner $22
5-yr Accident Free $127
5-yr Claim Free $106
Paid in Full/EFT $80
Advance Quote $84
Online Quote $116
Total Discounts $707
Rate after discounts $881

Discounts are estimated and may not be available from every company or in every state.

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