Tesla Model 3 Insurance Rates

U.S. average insurance rates for a Tesla Model 3 are $1,588 a year including full coverage. Comprehensive costs on average $344 a year, collision insurance costs $724, and liability is $384. Liability-only coverage costs around $432 a year, and high-risk coverage 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 by individual coverage:

These estimates include $500 policy deductibles, split liability limits of 30/60, and includes UM/UIM and medical coverage. Estimates are averaged for all 50 U.S. states and Model 3 trim levels.

Price Range from Low to High

Geographic Price Range

Choosing to live in a large city can have significant affects on car insurance rates. Rural areas have a lower frequency of comprehensive and collision claims than densely populated cities. The diagram below illustrates the difference location can make on car insurance rates.

The ranges above highlight why it is important to compare rates quotes based on a specific location and risk profile, instead of using average rates.

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

Rates by State, City, and Model

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

• The best discount rate is $881
• Raising to $1,000 deductibles will save around $1,346 every year
• The average rate for the average middle-age driver with $500 deductibles is $1,588
• Using low $100 deductibles will increase the cost to $2,062
• At-risk drivers who are prone to accidents and violations could pay upwards of $3,470
• The price for full coverage for a teen driver may cost $5,792

View Chart as Image

Auto insurance prices for a Tesla Model 3 are also quite variable based on your driving record, the model of your Model 3, and policy deductibles and limits.

Older drivers with a good driving record and high deductibles may pay as little as $1,500 every 12 months on average for full coverage. Prices are much higher for teenage drivers, where even good drivers will have to pay upwards of $5,700 a year. View Rates by Age

The state you live in also has a big influence on Tesla Model 3 insurance prices. A middle-age driver might find prices as low as $1,220 a year in states like Missouri, New Hampshire, and Vermont, or be forced to pay as much as $2,260 on average in Michigan, New York, and Louisiana.

View Chart as Image

Using high physical damage deductibles can reduce prices by up to $720 every year, while buying higher liability limits will cost you more. Changing from a 50/100 limit to a 250/500 limit will increase prices by as much as $345 extra every year. View Rates by Deductible or Liability Limit

If you have some driving violations or tend to cause accidents, you are likely paying at a minimum $1,900 to $2,600 in extra premium each year, depending on your age. A high-risk auto insurance policy is expensive and can cost as much as 45% to 133% more than a normal policy. View High Risk Driver Rates

How to Find Cheap Tesla Model 3 Insurance

Getting lower rates on car insurance consists of being safe and accident-free, having good credit, being claim-free, and deciding if full coverage is necessary. Make time to compare rates at least once a year by quoting rates from direct car insurance companies like Progressive and GEICO, and also from local exclusive and independent agents.

Below you'll find a brief summary of the primary concepts that were touched on in this article.

• You may be able to save as much as $200 per year just by quoting early and online
• Higher risk drivers that tend to have accidents or serious violations may pay on average $1,880 more each year than a low-risk driver
• Increasing physical damage deductibles can save around $725 each year
• Youthful drivers are charged the highest prices, possibly costing $483 a month if they have full coverage