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Tesla Model 3 insurance rates are $150 per month for full coverage which is about $1,800 per year. You can spend $283 more per year when you insure a Telsa Model 3. Continue reading to learn how you can save more money on Tesla Model 3 insurance rates.
You can start comparing quotes for Tesla Model 3 auto insurance rates from some of the best auto insurance companies by using our free online tool now.
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The average Tesla Model 3 auto insurance rates are $1,802 a year or $150 a month.
The chart below details how Tesla Model 3 insurance rates compare to other electric luxury sedans like the Tesla Model S.
| Vehicle | Comprehensive | Collision | Liability | Total |
| Tesla Model 3 | $444 | $906 | $316 | $1,802 |
| Tesla Model S | $582 | $1186 | $316 | $2,220 |
However, there are a few things you can do to find the cheapest Tesla insurance rates online.
The Tesla Model 3 trim and model you choose can impact the total price you will pay for Tesla Model 3 auto insurance coverage.
Older Tesla Model 3 models generally cost less to insure. For example, auto insurance for a 2020 Tesla Model 3 costs $1,802, while 2018 Tesla Model 3 insurance costs are $1,744, a difference of $58.
| Model Year | Comprehensive | Collision | Liability | Total |
| 2020 Tesla Model 3 | $444 | $906 | $316 | $1,802 |
| 2019 Tesla Model 3 | $424 | $870 | $332 | $1,762 |
| 2018 Tesla Model 3 | $406 | $864 | $338 | $1,744 |
Driver age can have a significant effect on Tesla Model 3 auto insurance rates. For example, 20-year-old drivers pay $2,204 more for their Tesla Model 3 auto insurance each year than 30-year-old drivers.
Where you live can have a large impact on Tesla Model 3 insurance rates. For example, drivers in Jacksonville may pay $1,081 a year more than drivers in Indianapolis.
Your driving record can have an impact on the cost of Tesla Model 3 auto insurance. Teens and drivers in their 20’s see the highest jump in their Tesla Model 3 auto insurance with violations on their driving record.
Your Tesla Model 3 auto insurance rates are tied to the safety ratings of the Tesla Model 3. See the breakdown below:
| Test Type | Rating |
| Small overlap front: driver-side | Good |
|---|---|
| Small overlap front: passenger-side | Good |
| Moderate overlap front | Good |
| Side | Good |
| Roof strength | Good |
| Head restraints and seats | Good |
| Source: Insurance Institute for Highway Safety | |
Good Tesla Model 3 crash test ratings mean the VW is safer, which could mean cheaper Tesla Model 3 auto insurance rates.
| Vehicle Tested | Overall | Frontal | Side | Rollover |
| 2020 Tesla Model 3 4 DR RWD | 5 stars | 5 stars | 5 stars | 5 stars |
| 2020 Tesla Model 3 4 DR AWD | 5 stars | 5 stars | 5 stars | 5 stars |
| 2019 Tesla Model 3 4 DR RWD | 5 stars | 5 stars | 5 stars | 5 stars |
| 2019 Tesla Model 3 4 DR AWD | 5 stars | 5 stars | 5 stars | 5 stars |
| 2018 Tesla Model 3 4 DR RWD | 5 stars | 5 stars | 5 stars | 5 stars |
| 2018 Tesla Model 3 4 DR AWD | N/R | N/R | 5 stars | 5 stars |
| 2017 Tesla Model 3 DR RWD | N/R | N/R | N/R | N/R |
| 1-5 Star Rating Scale, N/R = No Rating | Source: National Highway Traffic Safety Administration | ||||
|---|---|---|---|---|
Having a variety of safety features on your Tesla Model 3 can help lower your Tesla Model 3 insurance costs. The Tesla Model 3’s safety features include:
If you are financing a Tesla Model 3, most lenders will require your carry higher Tesla Model 3 coverage options including comprehensive coverage, so be sure to shop around and compare Tesla Model 3 auto insurance rates from the best companies using our FREE tool below.
There are many ways that you can save on Tesla Model 3 auto insurance. Below are five actions you can take to find cheap Tesla Model 3 auto insurance rates.
Who is the best auto insurance company for Tesla Model 3 insurance rates? While the actual rates you pay will depend on many factors, here are some of the top companies offering Tesla Model 3 auto insurance coverage (ordered by market share). Many of these companies offer discounts for security systems and other safety features that the Tesla Model 3 offers.
| Rank | Company | Volume | Market Share |
| 1 | State Farm | $65,615,190 | 9.3% |
| 2 | GEICO | $46,106,971 | 6.6% |
| 3 | Progressive | $39,222,879 | 5.6% |
| 4 | Liberty Mutual | $35,600,051 | 5.1% |
| 5 | Allstate | $35,025,903 | 5.0% |
| 6 | Travelers | $28,016,966 | 4.0% |
| 7 | USAA | $23,483,080 | 3.3% |
| 8 | Chubb | $23,388,385 | 3.3% |
| 9 | Farmers | $20,643,559 | 2.9% |
| 10 | Nationwide | $18,442,145 | 2.6% |
| Source: Insurance Information Institute | |||
Save on your Tesla Model 3 auto insurance rates by taking advantage of our FREE comparison tool.
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