Tesla Model 3 Insurance Rates

Estimated insurance rates for a Tesla Model 3 are $1,536 a year for full coverage insurance. Comprehensive costs an estimated $332 each year, collision insurance costs $680, and liability is $388. Liability-only coverage costs around $434 a year, and high-risk coverage costs around $3,350. Teen drivers pay the most at up to $5,626 a year.

Average premium for full coverage: $1,536

Premium estimates broken down by type of coverage:

Prices include $500 comprehensive and collision deductibles, split liability limits of 30/60, and includes both medical and uninsured motorist insurance. Rates include averaging for all 50 states and Model 3 models.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Choosing to live in a large city can have significant affects on the price of insurance. More rural locations are statistically proven to have lower incidents of physical damage claims than larger metro areas. The graphic below illustrates how where you live affects insurance prices.

These rate differences illustrate why all drivers should compare rates quotes for a targeted area, instead of using price averages.

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

Additional Rate Details

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

• The lowest rate with discounts is $856
• Raising to $1,000 deductibles will save approximately $228 each year
• The estimated price for a 40-year-old good driver who has $500 deductibles is $1,536
• Choosing low deductibles bumps up the cost to $1,986
• At-risk drivers with multiple violations and an at-fault accident could pay up to $3,350
• An auto insurance policy that insures a teen driver can cost as much as $5,626

View Chart as Image

Insurance prices for a Tesla Model 3 also have a wide range based on the trim level and model year, your age and driving record, and liability limits and deductibles.

If you have a few violations or you caused an accident, you are probably paying $1,800 to $2,500 extra annually, depending on your age. Insurance for high-risk drivers is expensive and can cost as much as 44% to 130% more than average. View High Risk Driver Rates

More mature drivers with a clean driving record and higher comprehensive and collision deductibles may pay as little as $1,400 every 12 months on average, or $117 per month, for full coverage. Prices are highest for drivers in their teens, since even teens with perfect driving records can expect to pay at least $5,600 a year. View Rates by Age

Where you choose to live also has a big influence on Tesla Model 3 insurance prices. A middle-age driver might find prices as low as $1,000 a year in states like North Carolina, Wisconsin, and Vermont, or as much as $2,070 on average in Florida, New York, and Michigan.

View Chart as Image

Choosing high deductibles can reduce prices by up to $680 every year, whereas increasing liability limits will increase premiums. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $349 more per year. View Rates by Deductible or Liability Limit

How to Find the Right Tesla Model 3 Insurance

Finding better rates on car insurance consists of avoiding accidents and violations, having above-average credit, paying for small claims out-of-pocket, and deciding if full coverage is necessary. Shop around at least once a year by requesting rates from direct insurance companies, and also from local insurance agencies.

The list below is a quick rundown of the primary concepts that were touched on in the above illustrations.

• It is possible to save approximately $190 per year just by quoting online in advance
• Higher risk drivers with reckless driving or DUI convictions may have to pay on average $1,810 more annually for car insurance
• Increasing policy deductibles can save approximately $675 each year
• Teenagers are charged the highest prices, with premiums being up to $469 per month if full coverage is included