Tesla Model 3 Insurance Rates

U.S. average insurance rates for a Tesla Model 3 are $1,536 a year including full coverage. Comprehensive insurance costs on average $332 each year, collision insurance costs $680, and liability costs around $388. A policy with just liability insurance costs as low as $434 a year, and coverage for high-risk drivers costs $3,350 or more. Teens pay the highest rates at up to $5,626 a year.

Average premium for full coverage: $1,536

Price estimates by individual coverage:

Price estimates include $500 policy deductibles, 30/60 liability coverage, and includes both medical and UM/UIM coverage. Estimates are averaged for all 50 U.S. states and Model 3 models.

Price Range from Low to High

Geographic Price Range

Where you live can make a big difference on car insurance rates. Rural areas have lower incidents of comprehensive and collision claims than cities with more traffic congestion. The graphic below illustrates how your location can change car insurance rates.

The ranges above highlight why all drivers should compare prices based on a specific location, instead of making a decision based on averaged prices.

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

Rate Comparisons

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

• The cheapest rate after discounts is $856
• Using higher $1,000 deductibles will save around $228 every year
• The estimated price for the average middle-age driver with $500 deductibles is $1,536
• Selecting low deductibles for physical damage coverage will cost an additional $450 annually
• High-risk insureds with serious driving violations could pay upwards of $3,350
• The price that insures a 16-year-old driver may cost $5,626 or more

View Chart as Image

Insurance prices for a Tesla Model 3 are also quite variable based on the trim level and model year, your driving record and age, and policy deductibles and limits.

If you have some driving violations or you caused an accident, you are likely paying at a minimum $1,800 to $2,500 extra each year, depending on your age. Insurance for high-risk drivers can be from 44% to 130% more than the average policy. View High Risk Driver Rates

More mature drivers with a clean driving record and higher comprehensive and collision deductibles may pay as low as $1,400 a year for full coverage. Prices are much higher for teenage drivers, since even teens with perfect driving records can expect to pay upwards of $5,600 a year. View Rates by Age

The state you live in has a huge impact on Tesla Model 3 insurance prices. A driver around age 40 might see prices as low as $1,180 a year in states like Missouri, New Hampshire, and Vermont, or have to pay at least $2,190 on average in Michigan, New York, and Louisiana.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles could cut prices by as much as $680 annually, whereas increasing liability limits will cost you more. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $349 more per year. View Rates by Deductible or Liability Limit

How to Find Cheaper Tesla Model 3 Insurance

Getting lower rates on insurance for a Tesla Model 3 requires being safe and accident-free, having above-average credit, being claim-free, and determing if full coverage is necessary. Compare rates every year by getting rate quotes from direct car insurance companies, and also from insurance agencies where you live.

Below you'll find a condensed summary of the coverage data illustrated above.

• You may be able to save as much as $190 per year just by quoting online in advance
• Increasing physical damage deductibles can save approximately $675 each year
• Youthful drivers pay the highest prices, possibly costing $469 a month if full coverage is included
• Drivers considered higher risk with multiple at-fault accidents could be forced to pay on average $1,810 more each year than a low-risk driver