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.
Estimated auto insurance rates for a Tesla Model 3 are $1,588 annually including full coverage. Comprehensive costs approximately $344, collision insurance costs $724, and liability coverage costs $384. A policy with only liability insurance costs as little as $432 a year, and a high-risk policy costs around $3,470. Teens pay the most at up to $5,792 a year.
Average premium for full coverage: $1,588
Premium estimates by type of coverage:
Rate estimates include $500 deductible amounts, minimum liability limits, and includes medical and UM/UIM coverage. Rates include averaging for all 50 U.S. states and for all Model 3 models.
Insurance Price Range by Risk and Coverage
Using a 40-year-old driver as an example, insurance rates for a Tesla Model 3 range from as cheap as $432 for just liability insurance to the much higher price of $3,470 for high-risk insurance.
Insurance Price Range by Location
Your location has a large influence on car insurance prices. Rural locations are statistically proven to have fewer comprehensive and collision claims than cities with more traffic congestion. The example below illustrates how rural and urban location affects auto insurance prices.
These rate differences highlight why everyone should compare rates using their specific location and their own personal driving habits, rather than using averaged prices.
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.
More Rate Details
The chart below breaks down average Tesla Model 3 insurance rates for additional coverage and risk scenarios.
- The cheapest rate after discounts is $881
- Drivers who choose higher $1,000 deductibles will pay $242 every year
- The estimated rate for a 40-year-old good driver who chooses $500 deductibles is $1,588
- Selecting pricier low deductibles for comprehensive and collision insurance will cost $2,062
- High-risk insureds with serious driving violations could pay around $3,470
- An auto insurance policy with full coverage for a teenage driver for full coverage can cost $5,792 a year
Car insurance prices for a Tesla Model 3 also have a wide range based on the model of your Model 3, your driving characteristics, and physical damage deductibles and liability limits.
A more mature driver with no driving violations and high physical damage deductibles may only pay around $1,500 per year on average, or $125 per month, for full coverage. Prices are much higher for drivers in their teens, where even without any violations or accidents they will be charged in the ballpark of $5,700 a year. View Rates by Age
If you have a few violations or you caused a few accidents, you are likely paying anywhere from $1,900 to $2,600 extra annually, depending on your age. Tesla Model 3 insurance for high-risk drivers can cost around 45% to 133% more than the average policy. View High Risk Driver Rates
Choosing higher comprehensive and collision insurance deductibles could save up to $720 a year, whereas buying more liability protection will push prices upward. Changing from a 50/100 bodily injury limit to a 250/500 limit will cost up to $345 extra every 12 months. View Rates by Deductible or Liability Limit
Where you choose to live makes a big difference in Tesla Model 3 insurance rates. A 40-year-old driver could pay as low as $1,220 a year in states like Vermont, New Hampshire, and Missouri, or have to pay at least $2,260 on average in Louisiana, New York, and Michigan.
| 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% |
| 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 Buy the Best Tesla Model 3 Insurance
Finding better rates on auto insurance not only requires having a good driving record, but also having a good credit score, refrain from filing small claims, and attention to physical damage deductibles. Set aside time to shop around every couple of years by getting rate quotes from direct car insurance companies, and also from local insurance agencies.
The next list is a brief recap of the material that was raised in the charts and tables above.
- Consumers who purchase increased levels of liability coverage will pay approximately $420 per year to go from 30/60 bodily injury limits to higher 250/500 limits
- Drivers age 20 and younger pay the highest auto insurance prices, with the cost nearing $483 per month if comprehensive and collision insurance is included
- Drivers who tend to receive serious violations may have to pay on average $1,880 more per year to buy Tesla Model 3 insurance
- Increasing policy deductibles could save up to $725 each year
Rate Tables and Charts
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
| Deductible | Premium |
|---|---|
| $100 | $2,062 |
| $250 | $1,840 |
| $500 | $1,588 |
| $1,000 | $1,346 |
Full coverage, driver age 40
Rates by Liability Limit
| 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
| 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.
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 |
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
