Tesla Model 3 Insurance Rates

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View 2018 Tesla Model 3 Car Insurance Quotes in 2025

Finding the cheapest insurance for a new or used Tesla Model 3 can normally be difficult, but you can learn the following methods and make it easy. There are more efficient ways to find car insurance online and we'll show you the quickest way to price shop coverage on a Tesla and locate the cheapest rates from both online companies and local agents. If you are insured now or need a new policy, yo...

Dani Best

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Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...

Licensed Insurance Producer

UPDATED: Mar 30, 2024

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U.S. average insurance rates for a Tesla Model 3 are $1,588 a year including full coverage. Comprehensive insurance costs approximately $344 each year, collision costs $724, and liability is $384. A policy with just liability insurance costs around $432 a year, with coverage for high-risk drivers costing $3,470 or more. Teenage drivers pay the highest rates at $5,792 a year or more.

Average premium for full coverage: $1,588

Price estimates by individual coverage:

Comprehensive $344
Collision $724
Liability $384

Prices are based on $500 physical damage insurance deductibles, split liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Estimates are averaged for all 50 U.S. states and Model 3 models.

Price Range from Low to High

Using a 40-year-old driver as an example, Tesla Model 3 insurance prices go from the low end price of $432 for liability-only coverage to a high rate of $3,470 for coverage for higher-risk drivers.

Liability Only $432
Full Coverage $1,588
High Risk $3,470

Geographic Price Range

Choosing to live in a large city can have significant affects on car insurance prices. Rural locations have lower incidents of comprehensive and collision claims than densely populated cities.

The graphic below illustrates how rural and urban location affects auto insurance prices.

Rural Areas $1,191
Small Cities $1,667
Large Cities $2,144

The ranges above highlight why all drivers should compare rates quotes using their specific location, instead of using average rates.

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

Enter your zip code below to view companies based on your location that have cheap auto insurance rates.

Additional Charts and Tables

The chart below breaks down estimated Tesla Model 3 insurance rates for additional coverage and risk scenarios.

  • The best discount rate is $881
  • Raising to $1,000 deductibles will save $242 every year
  • The estimated price for the average middle-age driver who chooses $500 deductibles is $1,588
  • Using low deductibles will cost an additional $474 every year
  • At-risk drivers who are prone to accidents and violations could pay around $3,470 or more
  • The price that insures a teen driver can cost $5,792

View Chart as Image

Tesla Model 3 insurance cost comparison chart
Column chart showing full coverage Tesla Model 3 insurance prices range from $881 to $5,792

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 physical damage deductibles and liability limits.

If you have some driving violations or you caused an accident, you are likely paying anywhere from $1,900 to $2,600 extra each year, depending on your age. Insurance for high-risk drivers is expensive and can cost as much as 45% to 133% more than a normal policy. View High Risk Driver Rates

More mature drivers with a clean driving record and higher comprehensive and collision deductibles may pay as little as $1,500 every 12 months on average for full coverage. Prices are much higher for teenage drivers, since even teens with perfect driving records can expect to pay in the ballpark 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 Vermont, New Hampshire, and Missouri, or be forced to pay as much as $2,260 on average in Louisiana, New York, and Michigan.

Tesla Model 3 Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,434 -$154 -9.7%
Alaska $1,216 -$372 -23.4%
Arizona $1,316 -$272 -17.1%
Arkansas $1,588 -$0 0.0%
California $1,810 $222 14.0%
Colorado $1,514 -$74 -4.7%
Connecticut $1,628 $40 2.5%
Delaware $1,794 $206 13.0%
Florida $1,982 $394 24.8%
Georgia $1,466 -$122 -7.7%
Hawaii $1,142 -$446 -28.1%
Idaho $1,076 -$512 -32.2%
Illinois $1,180 -$408 -25.7%
Indiana $1,198 -$390 -24.6%
Iowa $1,070 -$518 -32.6%
Kansas $1,506 -$82 -5.2%
Kentucky $2,164 $576 36.3%
Louisiana $2,348 $760 47.9%
Maine $978 -$610 -38.4%
Maryland $1,308 -$280 -17.6%
Massachusetts $1,266 -$322 -20.3%
Michigan $2,754 $1,166 73.4%
Minnesota $1,330 -$258 -16.2%
Mississippi $1,902 $314 19.8%
Missouri $1,408 -$180 -11.3%
Montana $1,704 $116 7.3%
Nebraska $1,250 -$338 -21.3%
Nevada $1,904 $316 19.9%
New Hampshire $1,144 -$444 -28.0%
New Jersey $1,774 $186 11.7%
New Mexico $1,404 -$184 -11.6%
New York $1,672 $84 5.3%
North Carolina $912 -$676 -42.6%
North Dakota $1,300 -$288 -18.1%
Ohio $1,092 -$496 -31.2%
Oklahoma $1,628 $40 2.5%
Oregon $1,454 -$134 -8.4%
Pennsylvania $1,512 -$76 -4.8%
Rhode Island $2,116 $528 33.2%
South Carolina $1,438 -$150 -9.4%
South Dakota $1,338 -$250 -15.7%
Tennessee $1,388 -$200 -12.6%
Texas $1,912 $324 20.4%
Utah $1,176 -$412 -25.9%
Vermont $1,084 -$504 -31.7%
Virginia $950 -$638 -40.2%
Washington $1,224 -$364 -22.9%
West Virginia $1,456 -$132 -8.3%
Wisconsin $1,096 -$492 -31.0%
Wyoming $1,414 -$174 -11.0%

View Chart as Image

Tesla Model 3 insurance rates by U.S. city

Using high physical damage deductibles can reduce prices by up to $720 every year, whereas increasing liability limits will push prices upward. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $345 more per year. View Rates by Deductible or Liability Limit

Since prices can be so different, the best way to figure out who has the best auto insurance prices is to do a rate comparison and see which company has the best price. Every auto insurance company uses a different method to calculate prices, so the prices may be quite different.

Tesla Model 3 Insurance Rates by Model Year
Model Year Comprehensive Collision Liability Total Premium
2024 Tesla Model 3 $424 $870 $332 $1,762
2023 Tesla Model 3 $406 $864 $338 $1,744
2022 Tesla Model 3 $394 $842 $354 $1,726
2021 Tesla Model 3 $380 $808 $364 $1,688
2020 Tesla Model 3 $358 $780 $376 $1,650
2019 Tesla Model 3 $344 $724 $384 $1,588
2018 Tesla Model 3 $332 $680 $388 $1,536

Rates are averaged for all Tesla Model 3 models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.

How to Find Affordable Tesla Model 3 Insurance

Getting lower rates on car insurance consists of being a low-risk driver, having above-average credit, being claim-free, and maximizing policy discounts. Compare prices at least once a year by getting quotes from direct car insurance companies, and also from local auto insurance providers.

The items below are a brief review of the primary concepts that were raised in the charts and tables above.

  • You may be able to save around $200 per year simply by quoting online in advance
  • Higher risk drivers with DUI or reckless driving convictions will likely pay on average $1,880 more per year to insure their Model 3
  • Increasing physical damage deductibles can save approximately $725 each year
  • Teen drivers are expensive to insure, possibly costing $483 a month if full coverage is included

Rates by Driver Age

Tesla Model 3 Insurance Rates by Driver Age
Driver Age Premium
16 $5,792
20 $3,702
30 $1,668
40 $1,588
50 $1,450
60 $1,424

Full coverage, $500 deductibles

Rates by Deductible

Tesla Model 3 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,062
$250 $1,840
$500 $1,588
$1,000 $1,346

Full coverage, driver age 40

Rates by Liability Limit

Tesla Model 3 Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,588
50/100 $1,665
100/300 $1,761
250/500 $2,010
100 CSL $1,703
300 CSL $1,914
500 CSL $2,068

Full coverage, driver age 40

Rates for High Risk Drivers

Tesla Model 3 Insurance Rates for High Risk Drivers
Age Premium
16 $8,330
20 $5,900
30 $3,560
40 $3,470
50 $3,308
60 $3,280

Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident

If a financial responsibility filing is required, the additional charge below may also apply.

SR-22 Surcharge $231

Potential Rate Discounts

If you qualify for discounts, you may save the amounts shown below.

Discount Savings
Multi-policy $87
Multi-vehicle $85
Homeowner $22
5-yr Accident Free $127
5-yr Claim Free $106
Paid in Full/EFT $80
Advance Quote $84
Online Quote $116
Total Discounts $707
Rate after discounts $881

Discounts are estimated and may not be available from every company or in every state.

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