Tesla Model 3 Insurance Rates

U.S. average insurance rates for a Tesla Model 3 are $1,588 a year for full coverage. Comprehensive costs an estimated $344, collision insurance costs $724, and liability insurance costs around $384. Liability-only insurance costs as low as $432 a year, and high-risk driver insurance costs around $3,470. Teenage drivers pay the highest rates at up to $5,792 a year.

Average premium for full coverage: $1,588

Price estimates broken down by individual coverage:

Price estimates include $500 deductible amounts, 30/60 liability limits, and includes UM/UIM and medical coverage. Estimates are averaged for all states and for all Model 3 models.

Price Range from Low to High

Geographic Price Range

Where you live has a significant impact on insurance rates. More rural locations have a lower frequency of accident claims than densely populated cities. The example below illustrates how geographic area affects insurance prices.

The ranges above show why everyone should compare prices for a targeted area and risk profile, rather than relying on average rates.

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

Rates by State, City, and Model

The chart below shows average Tesla Model 3 insurance rates for other coverage scenarios.

• The best discount rate is $881
• Using higher $1,000 deductibles will save approximately $242 a year
• The average rate for the average middle-age driver who has $500 deductibles is $1,588
• Using pricier low deductibles for physical damage coverage will increase the cost to $2,062
• Drivers who are prone to accidents and violations could pay up to $3,470
• The price for full coverage for a teen driver for full coverage can cost as much as $5,792 or more

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Car insurance prices for a Tesla Model 3 are also quite variable based on your driving record, the trim level of your Model 3, and liability limits and deductibles.

A more mature driver with no driving violations and high deductibles could pay as little as $1,500 a year for full coverage. Prices are much higher for teenage drivers, where even good drivers will be charged at least $5,700 a year. View Rates by Age

The state you live in has a huge impact on Tesla Model 3 insurance rates. A driver around age 40 might see prices as low as $1,050 a year in states like Iowa, Maine, and Idaho, or be forced to pay as much as $2,260 on average in New York, Louisiana, and Michigan.

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Using high physical damage deductibles could cut prices by as much as $720 each year, whereas buying more liability protection will increase premiums. Going from a 50/100 limit to a 250/500 limit will increase prices by as much as $345 extra every 12 months. View Rates by Deductible or Liability Limit

If you have some driving violations or tend to cause accidents, you could be paying $1,900 to $2,600 extra each year, depending on your age. Tesla Model 3 insurance for high-risk drivers can be anywhere from 45% to 133% more than a normal policy. View High Risk Driver Rates

How to Find Cheaper Tesla Model 3 Insurance

Getting lower rates on Tesla Model 3 insurance requires having a good driving record, having above-average credit, eliminating unnecessary coverage, and possibly higher deductibles. Invest the time to compare rates at every policy renewal by getting rate quotes from direct carriers like Progressive and GEICO, and also from local independent and exclusive agents.

The next list is a condensed summary of the data presented in the illustrations above.

• Drivers who want increased levels of liability coverage will pay an extra $420 each year to increase from a low limit to 250/500 limits
• Drivers can save approximately $200 per year just by quoting online well ahead of the renewal date
• Increasing physical damage deductibles can save around $725 each year
• Drivers age 20 and younger have the highest car insurance prices, with premiums as much as $483 a month if full coverage is included