UPDATED: Jun 28, 2020
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We partner with top insurance providers. This doesn't influence our content. Our opinions are our own.
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.
Key takeaways:
- Full coverage costs around $1,802 a year or $150 each month
- A liability-only policy costs around $722 a year or $60 each month
- Highest rates are for teenage drivers at around $6,586 a year or $549 each month
- Good drivers can save as much as $743 a year by earning policy discounts
- Tesla Model 3 insurance costs around $283 more per year than the average vehicle
Tesla Model 3 insurance rates can be expensive if drivers don’t take advantage of savings. Tesla Model 3 insurance costs around $283 more per year than the average vehicle. Our guide dissects insurance rates for the Tesla Model 3 and offers saving advice, so read on.
You can start comparing quotes for Tesla Model 3 car insurance rates from some of the best car insurance companies by using our free online tool now.
Tesla Model 3 Insurance Cost
The average Tesla Model 3 auto insurance costs are $1,802 a year or $150 a month.
Are Tesla Model 3s Expensive to Insure?
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.
What Impacts the Cost of Tesla Model 3 Insurance?
The Tesla Model 3 trim and model you choose can impact the total price you will pay for Tesla Model 3 insurance coverage.
Age of the Vehicle
The average Tesla Model 3 car insurance rates are higher for newer models. For example, car insurance for a 2020 Tesla Model 3 costs $1,802, while a 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
The driver age can have a significant effect on the cost of Tesla Model 3 car insurance. For example, a 20-year-old driver could pay around $184 more each month for their Tesla Model 3 car insurance than a 30-year-old driver.
Driver Location
Where you live can have a large impact on Tesla Model 3 insurance rates. For example, drivers in Houston may pay $1,328 a year more than drivers in Columbus.
Your Driving Record
Your driving record can have an impact on the cost of Tesla Model 3 car insurance. Teens and drivers in their 20’s see the highest jump in their Tesla Model 3 car insurance rates with violations on their driving record.
Tesla Model 3 Safety Ratings
The Tesla Model 3’s safety ratings will affect your Tesla Model 3 auto insurance rates. See the chart 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 | |
Tesla Model 3 Crash Test Ratings
Good Tesla Model 3 crash test ratings can lower your Tesla Model 3 auto insurance rates. See Tesla Model 3 crash test results below:
| 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 | ||||
|---|---|---|---|---|
Tesla Model 3 Safety Features
The Tesla Model 3 safety features play a vital role in keeping passengers safe in crashes, but they can also help lower your Tesla Model 3 auto insurance rates. The Tesla Model 3’s safety features include:
- Driver Air Bag
- Passenger Air Bag
- Front Head Air Bag
- Rear Head Air Bag
- Front Side Air Bag
- 4-Wheel ABS
- 4-Wheel Disc Brakes
- Brake Assist
- Electronic Stability Control
- Daytime Running Lights
- Child Safety Locks
- Traction Control
- Blind Spot Monitor
- Auto-Leveling Headlights
- Lane Departure Warning
- Lane Keeping Assist
- Cross-Traffic Alert
Tesla Model 3 Finance and Insurance Cost
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 quotes from the best auto insurance companies using our FREE tool below.
Ways to Save on Tesla Model 3 Insurance
If you want to reduce the cost of your Tesla Model 3 insurance rates, follow these tips below:
- Choose a Tesla Model 3 with Cheaper Repair Costs
- Understand the Different Types of Auto Insurance for Your Tesla Model 3
- Bundle Your Tesla Model 3 Auto Insurance with Home Insurance
- Tell Your Insurer About Different Drivers or Uses for Your Tesla Model 3
- Choose Automatic Payments or EFT for Your Tesla Model 3 Insurance Policy
Top Tesla Model 3 Insurance Companies
Several top car insurance companies offer competitive rates for the Tesla Model 3 rates based on factors like discounts for safety features. Take a look at this list of top car insurance companies that are popular with Tesla Model 3 drivers organized by market share.
| 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 | |||
Compare Free Tesla Model 3 Insurance Quotes Online
You can start comparing quotes for Tesla Model 3 car insurance rates from some of the best car insurance companies by using our free online tool now.