Tesla Model 3 Insurance Rates
Enter your zip code below to view companies that have cheap auto insurance rates.
Michelle Robbins
Licensed Insurance Agent
Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
Licensed Insurance Agent
UPDATED: Mar 30, 2024
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.
Average auto insurance rates for a Tesla Model 3 are $1,536 annually including full coverage. Comprehensive insurance costs approximately $332 each year, collision costs $680, and liability is $388. Buying just liability costs around $434 a year, with insurance for high-risk drivers costing $3,350 or more. 16-year-old drivers receive the highest rates at $5,626 a year or more.
Average premium for full coverage: $1,536
Rate estimates by individual coverage type:
Price estimates include $500 comprehensive and collision deductibles, 30/60 liability coverage, and includes medical and uninsured motorist coverage. Rates are averaged for all 50 U.S. states and Model 3 models.
Price Range by Coverage and Risk
Using a middle-aged driver as an example, prices range go from as cheap as $434 for just liability coverage to a high rate of $3,350 for a policy for a high-risk driver.
Price Range by Location
Choosing to live in a large city can make a big difference on car insurance prices. Rural locations tend to have fewer comprehensive and collision claims than congested cities.
The graphic below illustrates how where you live affects auto insurance prices.
These examples highlight why all drivers should compare rates quotes using their 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.
Detailed Rate Analysis
The chart below breaks down estimated Tesla Model 3 insurance rates for additional coverage and risk scenarios.
- The best full coverage rate is $856
- Raising to $1,000 deductibles will save $228 every year
- The estimated rate for a 40-year-old driver who chooses $500 deductibles is $1,536
- Buying low deductibles costs an additional $450 annually
- Drivers with multiple tickets or accidents could pay around $3,350 or more
- The cost with full coverage for a 16-year-old driver can cost $5,626
Auto insurance rates for a Tesla Model 3 can also vary considerably based on the trim level of your Model 3, your driving characteristics, and physical damage deductibles and liability limits.
More mature drivers with a good driving record and high physical damage deductibles may pay as low as $1,400 every 12 months on average for full coverage. Rates are highest for teen drivers, where even without any violations or accidents they will have to pay in the ballpark of $5,600 a year. View Rates by Age
If you like to drive fast or you caused a few accidents, you are likely paying anywhere from $1,800 to $2,500 in extra premium per year, depending on your age. Insurance for high-risk drivers is expensive and can cost from 44% to 130% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles can reduce rates by up to $680 annually, whereas increasing liability limits will push rates upward. Changing from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $349 extra every year. View Rates by Deductible or Liability Limit
Where you live also has a big influence on Tesla Model 3 insurance prices. A middle-age driver might find rates as low as $1,180 a year in states like Vermont, New Hampshire, and Missouri, or at least $2,190 on average in Louisiana, New York, and Michigan.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,388 | -$148 | -9.6% |
| Alaska | $1,176 | -$360 | -23.4% |
| Arizona | $1,274 | -$262 | -17.1% |
| Arkansas | $1,536 | -$0 | 0.0% |
| California | $1,750 | $214 | 13.9% |
| Colorado | $1,464 | -$72 | -4.7% |
| Connecticut | $1,576 | $40 | 2.6% |
| Delaware | $1,734 | $198 | 12.9% |
| Florida | $1,916 | $380 | 24.7% |
| Georgia | $1,418 | -$118 | -7.7% |
| Hawaii | $1,102 | -$434 | -28.3% |
| Idaho | $1,040 | -$496 | -32.3% |
| Illinois | $1,142 | -$394 | -25.7% |
| Indiana | $1,158 | -$378 | -24.6% |
| Iowa | $1,036 | -$500 | -32.6% |
| Kansas | $1,456 | -$80 | -5.2% |
| Kentucky | $2,092 | $556 | 36.2% |
| Louisiana | $2,272 | $736 | 47.9% |
| Maine | $946 | -$590 | -38.4% |
| Maryland | $1,268 | -$268 | -17.4% |
| Massachusetts | $1,224 | -$312 | -20.3% |
| Michigan | $2,662 | $1,126 | 73.3% |
| Minnesota | $1,286 | -$250 | -16.3% |
| Mississippi | $1,838 | $302 | 19.7% |
| Missouri | $1,362 | -$174 | -11.3% |
| Montana | $1,648 | $112 | 7.3% |
| Nebraska | $1,208 | -$328 | -21.4% |
| Nevada | $1,838 | $302 | 19.7% |
| New Hampshire | $1,106 | -$430 | -28.0% |
| New Jersey | $1,714 | $178 | 11.6% |
| New Mexico | $1,358 | -$178 | -11.6% |
| New York | $1,614 | $78 | 5.1% |
| North Carolina | $882 | -$654 | -42.6% |
| North Dakota | $1,256 | -$280 | -18.2% |
| Ohio | $1,058 | -$478 | -31.1% |
| Oklahoma | $1,574 | $38 | 2.5% |
| Oregon | $1,406 | -$130 | -8.5% |
| Pennsylvania | $1,464 | -$72 | -4.7% |
| Rhode Island | $2,046 | $510 | 33.2% |
| South Carolina | $1,390 | -$146 | -9.5% |
| South Dakota | $1,294 | -$242 | -15.8% |
| Tennessee | $1,342 | -$194 | -12.6% |
| Texas | $1,848 | $312 | 20.3% |
| Utah | $1,134 | -$402 | -26.2% |
| Vermont | $1,048 | -$488 | -31.8% |
| Virginia | $918 | -$618 | -40.2% |
| Washington | $1,184 | -$352 | -22.9% |
| West Virginia | $1,408 | -$128 | -8.3% |
| Wisconsin | $1,062 | -$474 | -30.9% |
| Wyoming | $1,364 | -$172 | -11.2% |
With so much variability in rates, the best way to figure out who has the best auto insurance rates is to do a rate comparison from multiple companies. Every auto insurance company utilizes a different rate formula, and quoted rates can be significantly different between companies.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Tesla Model 3 | $406 | $864 | $338 | $1,744 |
| 2023 Tesla Model 3 | $394 | $842 | $354 | $1,726 |
| 2022 Tesla Model 3 | $380 | $808 | $364 | $1,688 |
| 2021 Tesla Model 3 | $358 | $780 | $376 | $1,650 |
| 2020 Tesla Model 3 | $344 | $724 | $384 | $1,588 |
| 2019 Tesla Model 3 | $332 | $680 | $388 | $1,536 |
| 2018 Tesla Model 3 | $318 | $610 | $390 | $1,454 |
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 Cheaper Tesla Model 3 Insurance
Saving money on insurance for a Tesla Model 3 consists of avoiding accidents and violations, having above-average credit, not filing small claims, and not having any coverage lapses. Take the time to comparison shop every year by requesting quotes from direct car insurance companies like Progressive and GEICO, and also from local insurance agencies.
The list below is a condensed summary of the coverage data touched on in the above illustrations.
- You may be able to save around $190 per year simply by quoting online in advance
- Increasing deductibles could save up to $675 each year
- Teenagers have the highest car insurance rates, as much as $469 per month if full coverage is included
- Drivers considered higher risk with multiple at-fault accidents may have to pay on average $1,810 more per year for car insurance
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $5,626 |
| 20 | $3,572 |
| 30 | $1,612 |
| 40 | $1,536 |
| 50 | $1,402 |
| 60 | $1,380 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $1,986 |
| $250 | $1,776 |
| $500 | $1,536 |
| $1,000 | $1,308 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,536 |
| 50/100 | $1,614 |
| 100/300 | $1,711 |
| 250/500 | $1,963 |
| 100 CSL | $1,652 |
| 300 CSL | $1,866 |
| 500 CSL | $2,021 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $8,082 |
| 20 | $5,700 |
| 30 | $3,436 |
| 40 | $3,350 |
| 50 | $3,196 |
| 60 | $3,170 |
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.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
| Discount | Savings |
|---|---|
| Multi-policy | $84 |
| Multi-vehicle | $82 |
| Homeowner | $22 |
| 5-yr Accident Free | $122 |
| 5-yr Claim Free | $102 |
| Paid in Full/EFT | $76 |
| Advance Quote | $80 |
| Online Quote | $112 |
| Total Discounts | $680 |
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
Secured with SHA-256 Encryption
