Tesla Model 3 Insurance Rates

The average insurance rates for a Tesla Model 3 are $1,536 a year for full coverage. Comprehensive insurance costs around $332, collision insurance costs $680, and liability costs $388. Liability-only coverage costs as little as $434 a year, and high-risk coverage costs $3,350 or more. Teens cost the most to insure at up to $5,626 a year.

Average premium for full coverage: $1,536

Policy rates for type of insurance:

These estimates include $500 deductible amounts, 30/60 liability coverage, and includes uninsured/under-insured motorist coverage. Prices are averaged for all states and for different Model 3 trim levels.

Price Range Variability

Urban vs. Rural Price Range

Your location can have significant affects on auto insurance rates. Areas with sparse population are shown to have lower incidents of accident claims than cities with more traffic congestion. The price range example below illustrates how location impacts auto insurance rates.

The examples above show why anyone shopping for car insurance should compare rates for a specific zip code, instead of using averaged prices.

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

More Rate Information

The chart below shows average Tesla Model 3 insurance rates for additional coverage choices and driver risks.

• The cheapest rate after discounts is $856
• Drivers who choose higher $1,000 deductibles will pay about $228 a year
• The estimated price for a good driver age 40 using $500 deductibles is $1,536
• Selecting more expensive low deductibles for comprehensive and collision insurance will cost an additional $450 every year
• Higher-risk drivers with serious driving violations could pay at least $3,350
• Policy cost that insures a teen driver with full coverage can be $5,626 a year

View Chart as Image

Insurance rates for a Tesla Model 3 also range considerably based on the model year and trim level, how you drive, and deductibles and policy limits.

If you have a few points on your driving record or you caused an accident, you could be paying at least $1,800 to $2,500 additional every year, depending on your age. High-risk driver insurance can cost as much as 44% to 130% more than the average policy. View High Risk Driver Rates

An older driver with no violations or accidents and higher comprehensive and collision deductibles may pay as little as $1,400 per year on average, or $117 per month, for full coverage. Rates are much higher for teenagers, since even teens with perfect driving records should be prepared to pay as much as $5,600 a year. View Rates by Age

Your home state makes a big difference in Tesla Model 3 insurance prices. A 40-year-old driver could pay as low as $1,010 a year in states like Idaho, Maine, and Iowa, or have to pay at least $2,190 on average in Michigan, Louisiana, and New York.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles could save up to $680 every year, while increasing your policy's liability limits will increase rates. Going from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $349 more each year. View Rates by Deductible or Liability Limit

How to Find Cheap Tesla Model 3 Insurance

Finding cheaper rates on car insurance not only requires having a good driving record, but also having a good credit score, avoid buying unnecessary coverage, and deciding if full coverage is necessary. Compare rates every year by getting quotes from direct carriers, and also from several local insurance agents.

The next list is a brief summary of the coverage data touched on above.

• Drivers can save up to $190 per year just by shopping early and online
• Increasing comprehensive and collision deductibles can save approximately $675 each year
• Drivers age 20 and younger are charged the highest rates, costing up to $469 each month if comprehensive and collision insurance is included
• Higher risk drivers that tend to have accidents or serious violations pay on average $1,810 more every year to buy Tesla Model 3 insurance