Tesla Model 3 Insurance Rates
Enter your zip code below to view companies that have cheap auto insurance rates.
UPDATED: Mar 30, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
The average auto insurance rates for a Tesla Model 3 are $1,650 annually with full coverage. Comprehensive insurance costs on average $358, collision costs $780, and liability insurance is $376. A liability-only policy costs around $426 a year, with high-risk insurance costing $3,612 or more. 16-year-old drivers cost the most to insure at $6,000 a year or more.
Average premium for full coverage: $1,650
Policy rates by type of insurance:
Prices are based on $500 physical damage insurance deductibles, liability limits of 30/60, and includes UM/UIM and medical coverage. Prices are averaged for all U.S. states and for different Model 3 trim levels.
Price Range Variability
For a driver in their 40's, Tesla Model 3 insurance rates go from as cheap as $426 for a discount liability-only rate to a much higher rate of $3,612 for a driver that may need high-risk insurance.
Urban vs. Rural Price Range
Choosing to live in a large city has a significant impact on auto insurance rates. Rural areas are shown to have fewer collision claims than congested cities.
The price range example below illustrates how location helps determine car insurance rates.
The examples above demonstrate why anyone shopping for car insurance should compare rates quotes based on a specific location and their own personal driving habits, rather than relying on rate averages.
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.
Rates by State, City, and Model
The chart below details estimated Tesla Model 3 insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $910
- Raising to $1,000 deductibles will save around $258 annually
- The estimated rate for a good driver age 40 with $500 deductibles is $1,650
- Buying more expensive low deductibles costs an additional $508 a year
- Higher-risk drivers with multiple tickets or accidents could pay upwards of $3,612 or more
- Policy cost with full coverage for a teen driver with full coverage may cost $6,000
Car insurance rates for a Tesla Model 3 also range considerably based on the model year and trim level, your driving record, and policy deductibles and limits.
An older driver with no driving violations and high physical damage deductibles could pay as little as $1,500 every 12 months on average, or $125 per month, for full coverage. Rates are highest for teenagers, where even without any violations or accidents they will be charged upwards of $6,000 a year. View Rates by Age
If you have a few points on your driving record or you caused a few accidents, you may be forking out at a minimum $2,000 to $2,700 extra every year, depending on your age. High-risk driver insurance is expensive and can cost anywhere from 45% to 135% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles can reduce rates by up to $770 each year, while increasing your policy's liability limits will cost you more. Moving from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $339 extra every 12 months. View Rates by Deductible or Liability Limit
Your home state also has a big influence on Tesla Model 3 insurance rates. A middle-age driver might find rates as low as $1,190 a year in states like New Hampshire, Ohio, and Utah, or at least $2,220 on average in Florida, Michigan, and New York.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,490 | -$160 | -9.7% |
| Alaska | $1,264 | -$386 | -23.4% |
| Arizona | $1,368 | -$282 | -17.1% |
| Arkansas | $1,650 | -$0 | 0.0% |
| California | $1,878 | $228 | 13.8% |
| Colorado | $1,574 | -$76 | -4.6% |
| Connecticut | $1,692 | $42 | 2.5% |
| Delaware | $1,866 | $216 | 13.1% |
| Florida | $2,060 | $410 | 24.8% |
| Georgia | $1,526 | -$124 | -7.5% |
| Hawaii | $1,186 | -$464 | -28.1% |
| Idaho | $1,116 | -$534 | -32.4% |
| Illinois | $1,228 | -$422 | -25.6% |
| Indiana | $1,244 | -$406 | -24.6% |
| Iowa | $1,112 | -$538 | -32.6% |
| Kansas | $1,566 | -$84 | -5.1% |
| Kentucky | $2,248 | $598 | 36.2% |
| Louisiana | $2,440 | $790 | 47.9% |
| Maine | $1,018 | -$632 | -38.3% |
| Maryland | $1,360 | -$290 | -17.6% |
| Massachusetts | $1,314 | -$336 | -20.4% |
| Michigan | $2,864 | $1,214 | 73.6% |
| Minnesota | $1,380 | -$270 | -16.4% |
| Mississippi | $1,976 | $326 | 19.8% |
| Missouri | $1,464 | -$186 | -11.3% |
| Montana | $1,772 | $122 | 7.4% |
| Nebraska | $1,298 | -$352 | -21.3% |
| Nevada | $1,976 | $326 | 19.8% |
| New Hampshire | $1,190 | -$460 | -27.9% |
| New Jersey | $1,842 | $192 | 11.6% |
| New Mexico | $1,460 | -$190 | -11.5% |
| New York | $1,736 | $86 | 5.2% |
| North Carolina | $948 | -$702 | -42.5% |
| North Dakota | $1,352 | -$298 | -18.1% |
| Ohio | $1,138 | -$512 | -31.0% |
| Oklahoma | $1,692 | $42 | 2.5% |
| Oregon | $1,510 | -$140 | -8.5% |
| Pennsylvania | $1,572 | -$78 | -4.7% |
| Rhode Island | $2,200 | $550 | 33.3% |
| South Carolina | $1,494 | -$156 | -9.5% |
| South Dakota | $1,392 | -$258 | -15.6% |
| Tennessee | $1,444 | -$206 | -12.5% |
| Texas | $1,986 | $336 | 20.4% |
| Utah | $1,220 | -$430 | -26.1% |
| Vermont | $1,126 | -$524 | -31.8% |
| Virginia | $990 | -$660 | -40.0% |
| Washington | $1,272 | -$378 | -22.9% |
| West Virginia | $1,510 | -$140 | -8.5% |
| Wisconsin | $1,140 | -$510 | -30.9% |
| Wyoming | $1,468 | -$182 | -11.0% |
Because rates have so much variability, the best way to find out exactly what you will pay is to compare rates from as many companies as possible. Every auto insurance company utilizes a different rate formula, so rate quotes will be varied between companies.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Tesla Model 3 | $444 | $906 | $316 | $1,802 |
| 2023 Tesla Model 3 | $424 | $870 | $332 | $1,762 |
| 2022 Tesla Model 3 | $406 | $864 | $338 | $1,744 |
| 2021 Tesla Model 3 | $394 | $842 | $354 | $1,726 |
| 2020 Tesla Model 3 | $380 | $808 | $364 | $1,688 |
| 2019 Tesla Model 3 | $358 | $780 | $376 | $1,650 |
| 2018 Tesla Model 3 | $344 | $724 | $384 | $1,588 |
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 Buy Affordable Tesla Model 3 Insurance
Finding cheaper rates on Tesla Model 3 insurance consists of being a low-risk driver, having a good credit score, not filing small claims, and maximizing policy discounts. Invest time comparing rates once a year by obtaining price quotes from direct companies like Progressive, GEICO, and Esurance, and also from local independent and exclusive agents.
The items below are a brief review of the data that was covered in the charts and tables above.
- You may be able to save as much as $210 per year simply by shopping early and online
- Drivers who require more liability coverage will pay around $410 every year to raise from a 30/60 limit to higher 250/500 limits
- Teen drivers are expensive to insure, as much as $500 each month if comprehensive and collision insurance is included
- High-risk drivers with DUI or reckless driving convictions pay an average of $1,960 more each year to insure their Model 3
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,000 |
| 20 | $3,856 |
| 30 | $1,740 |
| 40 | $1,650 |
| 50 | $1,506 |
| 60 | $1,482 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,158 |
| $250 | $1,920 |
| $500 | $1,650 |
| $1,000 | $1,392 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,650 |
| 50/100 | $1,725 |
| 100/300 | $1,819 |
| 250/500 | $2,064 |
| 100 CSL | $1,763 |
| 300 CSL | $1,970 |
| 500 CSL | $2,120 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $8,636 |
| 20 | $6,152 |
| 30 | $3,712 |
| 40 | $3,612 |
| 50 | $3,446 |
| 60 | $3,416 |
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.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
| Discount | Savings |
|---|---|
| Multi-policy | $91 |
| Multi-vehicle | $88 |
| Homeowner | $23 |
| 5-yr Accident Free | $135 |
| 5-yr Claim Free | $110 |
| Paid in Full/EFT | $84 |
| Advance Quote | $88 |
| Online Quote | $121 |
| Total Discounts | $740 |
Discounts are estimated and may not be available from every company or in every state.
Compare Rates and Save
Find companies with the cheapest rates in your area
Secured with SHA-256 Encryption
