Tesla Model 3 Insurance Rates

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

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

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car 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.

Estimated auto insurance rates for a Tesla Model 3 are $1,588 annually for full coverage insurance. Comprehensive costs on average $344 a year, collision insurance costs $724, and liability is estimated at $384. A policy with only liability insurance costs approximately $432 a year, and a high-risk policy costs around $3,470. Teenage drivers pay the most at up to $5,792 a year.

Average premium for full coverage: $1,588

Premium estimates by type of coverage:

Comprehensive $344
Collision $724
Liability $384

Estimates include $500 comprehensive and collision deductibles, liability limits of 30/60, and includes additional medical/uninsured motorist coverage. Rates include averaging for all 50 states and Model 3 trim levels.

Insurance Price Range by Risk and Coverage

For an average driver, insurance rates for a Tesla Model 3 range from as cheap as $432 for just the minimum liability insurance to a high of $3,470 for a driver that may need high-risk insurance.

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

Insurance Price Range by Location

Living in a larger city can make a big difference on insurance rates. Rural areas are statistically proven to have fewer physical damage claims than densely populated cities. The diagram below illustrates the effect of geographic area on car insurance rates.

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

These rate differences illustrate why it is important to get quotes based on a specific location and their own personal driving habits, instead of making a decision based on average rates.

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.

Additional Rate Analysis

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

  • The best discount rate is $881
  • Choosing higher $1,000 deductibles can save around $1,346 each year
  • The estimated rate for a 40-year-old good driver with $500 deductibles is $1,588
  • Using low $100 deductibles for comp and collision coverage will cost $2,062
  • Higher-risk drivers who are prone to accidents and violations could pay upwards of $3,470
  • An auto insurance policy 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 Tesla Model 3 insurance rates range from $881 to $5,792 for full coverage

Car insurance prices for a Tesla Model 3 also have a wide range based on the model of your Model 3, your risk profile, and policy deductibles and limits.

Older drivers with no driving violations and high physical damage deductibles may pay as low as $1,500 annually on average, or $125 per month, for full coverage. Prices are much higher for drivers in their teens, where even without any violations or accidents they will be charged upwards of $5,700 a year. View Rates by Age

If you have a few violations or you caused a few accidents, you are probably paying at a minimum $1,900 to $2,600 extra annually, depending on your age. A high-risk auto insurance policy ranges from 45% to 133% more than a normal policy. View High Risk Driver Rates

Using high physical damage deductibles can save as much as $720 annually, while buying higher liability limits will cost you more. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost up to $345 extra every 12 months. View Rates by Deductible or Liability Limit

Where you choose to 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 $1,040 a year in states like Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $2,140 on average in Michigan, New York, and Florida.

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
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 Low Cost Tesla Model 3 Insurance

Finding better rates on insurance for a Tesla Model 3 takes having a decent driving record, having a good credit score, paying for small claims out-of-pocket, and possibly raising deductibles. Take the time to compare rates once a year by requesting rates from direct insurance companies, and also from local exclusive and independent agents.

The following items are a review of the data that was covered in the above illustrations.

  • It is possible to save as much as $200 per year just by quoting early and online
  • Insureds who require additional liability coverage will pay an extra $420 annually to raise limits from 30/60 bodily injury limits to higher 250/500 limits
  • 16 to 18-year-old drivers are expensive to insure, with premiums being up to $483 per month if comprehensive and collision insurance is included
  • Drivers considered higher risk who have several accidents or serious violations may pay on average $1,880 more each year than a driver with a clean driving record

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.

Compare Rates and Save

Find companies with the cheapest rates in your area

Free Auto Insurance Comparison

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

secured lock Secured with SHA-256 Encryption

By clicking, you agree to our Terms of Use

Nationwide State Farm Allstate

You May Also Enjoy These Articles