Cheap 2019 Tesla Model 3 Insurance Quotes in 2024

Searching for cheaper car insurance rates for your Tesla Model 3? No car owner gets a kick out of paying for car insurance, especially when they are aware that the cost is too high. Popular companies such as State Farm and GEICO all claim big savings, bombarding you with fancy advertisements and it is difficult to sift through the bull and do the work needed to find the best deal.

Consumers should take time to price shop coverage yearly since prices are rarely the same from one policy term to another. Even if you think you had the lowest rates for Model 3 coverage a couple years back you may be paying too much now. Block out anything you think you know about car insurance because you’re going to learn how to use online quotes to find better rates and still maintain coverage.

If you are insured now or need new coverage, you will benefit by learning to reduce the price you pay and still get good coverage. Choosing the best insurance company for you is not rocket science. Drivers only need to know how to compare prices online.

Compare auto insurance rates

Reducing your 2019 Tesla Model 3 insurance rates is actually easier than you may think. Drivers just need to spend a little time to compare free insurance quotes to discover which company has cheaper insurance quotes. Insurance prices can be quoted in just a few minutes using one of these methods.

The most efficient way to get quotes is a comparison rater form. This style of form eliminates the need for multiple quote forms for each price estimate. One form submission gets you price quotes from multiple low-cost companies.

A more difficult way to get comparison quotes requires a visit to the website of each company to complete their respective quote request forms. For examples sake, we’ll assume you want to compare rates from Farmers, GEICO and Travelers. To get each rate you have to spend time on each company’s site to enter the same coverage data repeatedly, and that’s why the first method is more popular.

It doesn’t matter which method you choose, just do your best to use apples-to-apples coverage limits and deductibles on every quote. If you have different values for each quote it will be nearly impossible to determine the best price for your Tesla Model 3.

Auto insurance advertisements

Consumers can’t ignore all the ads that claim the best premium rates by Allstate, GEICO and Progressive. All the ads state the claim that drivers can save some big amount just by moving to their company.

How do they all make almost identical claims? It’s all in the words they use.

Different companies give the cheapest rates for the type of insured that will generate a profit. An example of a desirable risk might be over the age of 50, has had continuous coverage, and drives a safe vehicle. A driver who fits that profile will get low rates and will save a lot if they switch.

Consumers who are not a match for these stringent criteria will be quoted more expensive rates and ends up with the customer not buying. The wording the ads use say “drivers that switch” not “everyone that quotes” will save that much if they switch. That’s why companies can make claims that they all have the best rates.

Because every company is different, it is so important to get price quotes at each policy renewal. It’s impossible to know with any certainty which company will have the lowest rate quotes.

The Tesla Model 3 insurance rate equation

It’s important that you understand some of the factors that go into determining your insurance coverage rates. When you understand what determines premiums, this enables informed choices that could result in big savings. Many factors are considered when pricing auto insurance. Some factors are common sense such as your driving history, but others are not quite as obvious like where you live or how safe your car is.

• Higher physical damage deductibles are cheaper – The deductibles define how much you are willing to pay if the claim is covered. Coverage for physical damage, termed comprehensive and collision coverage on your policy, protects your car from damage. Some examples of claims that would be covered could be a windshield broken by a bird, fire damage, and damage caused by road hazards. The more expense the insured is willing to pay, the less money you will pay for insurance coverage for Model 3 coverage.
• Frequent policy claims will cost you – If you tend to file frequent claims, you can expect increased rates or even have your policy non-renewed. Car insurance companies award better rates to drivers who do not rely on their insurance for small claims. Insurance coverage is designed for the large, substantial claims.
• Combine and save – Most major insurance companies give a discount to insureds who have multiple policies with them such as combining an auto and homeowners policy. Discounts can amount to anywhere from five to ten percent in most cases. Even with this discount, consumers should still compare rates to help ensure you have the lowest rates. It’s possible to still save even more than the discount by buying insurance coverage from a different company.
• Cheaper to insure gals? – Over time, data shows that men are more aggressive behind the wheel. Now that doesn’t mean females are better drivers. Both sexes are responsible for accidents at about the same rate, but males have costlier accidents. Men also tend to get higher numbers of serious violations like DUI and reckless driving.

Save money by receiving discounts

Auto insurance companies don’t necessarily list their entire list of discounts in an easy-to-find place, so we researched a few of the more well known and the more hidden credits available to lower your premiums when you buy insurance online. If you do not double check each discount you deserve, you are throwing money away.

• Anti-lock Brake System – Anti-lock brake equipped vehicles are safer to drive and the ABS can save up to 10%.
• Savings for New Vehicles – Putting insurance coverage on a new car can save you some money because new model year vehicles keep occupants safer.
• Lower Rates for Military – Being deployed with a military unit may qualify for rate reductions.
• Accident Forgiveness Coverage – This isn’t a discount exactly, but some companies like State Farm and Progressive may permit one accident before they charge you more for coverage if you have no claims for a set time period.
• Safety Restraint Discount – Forcing all vehicle occupants to buckle up before driving can save 10% or more on the medical payments or PIP coverage costs.
• Homeowners Savings – Simply owning a home can save you money because owning a home requires a higher level of personal finance.
• Air Bag Discount – Vehicles equipped with air bags or motorized seat belts could see savings as much as 30%.
• Discount for Multiple Policies – When you combine your homeowners and auto insurance and place coverage with the same company you may earn over 10 percent off each policy depending on the company.
• Paperwork-free – Some of the larger companies will give you a small discount simply for signing on your computer.

Policy discounts save money, but most credits do not apply to the entire policy premium. Most only apply to individual premiums such as physical damage coverage or medical payments. So despite the fact that it appears you could get a free car insurance policy, company stockholders wouldn’t be very happy.

Large car insurance companies and a partial list of their discounts are detailed below.

• GEICO discounts include anti-theft, good student, multi-policy, defensive driver, daytime running lights, and multi-vehicle.
• USAA may offer discounts for safe driver, multi-vehicle, new vehicle, vehicle storage, annual mileage, defensive driver, and driver training.
• Progressive offers discounts for online quote discount, homeowner, online signing, multi-policy, and multi-vehicle.
• American Family policyholders can earn discounts including air bags, good student, TimeAway discount, early bird, Steer into Savings, mySafetyValet, and bundled insurance.
• Esurance offers discounts including online shopper, multi-car, safety device, multi-policy, Pac-12 alumni, and emergency road assistance.
• Farmers Insurance has discounts for bundle discounts, alternative fuel, electronic funds transfer, business and professional, mature driver, and teen driver.
• State Farm includes discounts for good driver, student away at school, Steer Clear safe driver discount, good student, safe vehicle, Drive Safe & Save, and anti-theft.

If you need lower rates, check with each insurance company how many discounts you can get. Discounts may not apply in your state. If you would like to view car insurance companies with discount rates, enter your zip code here.

Your auto insurance coverage should be tailored to you

When it comes to buying the right insurance coverage, there really is no best way to insure your cars. Every situation is different and a cookie cutter policy won’t apply. Here are some questions about coverages that could help you determine whether or not you might need professional guidance.

• Is upholstery damage covered by car insurance?
• Should I buy more coverage than the required minimum liability coverage?
• Does liability extend to a camper or trailer?
• Is a fancy paint job covered?
• Are my friends covered when driving my 2019 Tesla Model 3?
• Am I covered when delivering products for my home-based business?
• Will my vehicle be repaired with OEM or aftermarket parts?
• Am I covered if I hit my neighbor’s mailbox?

If you can’t answer these questions, you might consider talking to an insurance agent. If you want to speak to an agent in your area, simply complete your zip code. It only takes a few minutes and can provide invaluable advice.

Specific coverages for a 2019 Tesla Model 3

Having a good grasp of a insurance policy aids in choosing appropriate coverage at the best deductibles and correct limits. Insurance terms can be confusing and coverage can change by endorsement. These are the normal coverages available from insurance companies.

Comprehensive insurance

Comprehensive insurance coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things such as damage from getting keyed, rock chips in glass and falling objects. The most a insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Coverage for uninsured or underinsured drivers

Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. Covered claims include injuries to you and your family and damage to your Tesla Model 3.

Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked. Usually these coverages are similar to your liability insurance amounts.

Auto collision coverage

This coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage pays for claims like driving through your garage door, hitting a parking meter, colliding with another moving vehicle and rolling your car. This coverage can be expensive, so consider dropping it from vehicles that are older. You can also raise the deductible in order to get cheaper collision rates.

Coverage for medical expenses

Personal Injury Protection (PIP) and medical payments coverage kick in for bills such as rehabilitation expenses, ambulance fees, prosthetic devices, EMT expenses and hospital visits. They are often used in conjunction with a health insurance policy or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Auto liability insurance

This will cover damage that occurs to people or other property in an accident. This insurance protects YOU against other people’s claims, and doesn’t cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged property. Alternatively, you may have one number which is a combined single limit that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability coverage pays for claims such as repair bills for other people’s vehicles, loss of income, medical services, structural damage and attorney fees. How much coverage you buy is a personal decision, but buy as much as you can afford.

The bottom line

Cheaper 2019 Tesla Model 3 insurance is available online as well as from independent agents, so get free insurance quotes from both of them to have the best selection. There are still a few companies who do not provide rate quotes online and most of the time these smaller providers work with independent agencies.

As you go through the steps to switch your coverage, do not buy lower coverage limits just to save a few bucks. In many cases, an accident victim reduced collision coverage and discovered at claim time that the small savings ended up costing them much more. Your aim should be to buy enough coverage at a price you can afford, but don’t skip important coverages to save money.