The average cost to insure a Tesla Model 3 is $2,879 a year. However, the price you’ll pay for Tesla Model 3 insurance will depend on the year and trim level of your specific Tesla Model 3. Other factors, like where you live, will also affect your rates.
What does it cost to insure my Tesla Model 3?
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Our rates are based on public rate filings obtained by analytics company First Interpreter. While we may partner with some of the carriers you see on our site, we maintain editorial independence and it does not affect the rates you see. Read more about our rating methodology or see our rigorous editorial policy.Â
Last updated: August 31, 2023
The cost of car insurance for a Tesla Model 3 is higher than the average, with an annual cost of $2,879. Newer model years tend to have higher insurance costs due to their greater value. Additionally, the trim level of the vehicle can affect insurance rates, with higher trim levels often being more expensive to insure because they have more features and are worth more. Features such as advanced technology and costly repairs and replacement parts can also contribute to the higher insurance costs for a Tesla Model 3. It is important to note that these insurance rates are determined based on the vehicle itself, and not on factors related to the driver.
In 2023, the average cost of insurance for a Tesla Model 3 varied depending on the model year. The data shows that the 2022 model had an average annual premium of $2,808, while the 2023 Model 3 slightly increased to $2,879. This indicates that the cost of insuring a Tesla Model 3 remained relatively stable from one model year to the next. However, it’s important to note that this data does not consider any factors related to the driver, such as their age, driving record, or location.
Annual rates for a single 35-year-old male, estimated using public rate filings sourced from First Interpreter. Rates do not represent actual quotes. Accurate as of July 2023.Â
The table below shows an average of how much it costs to insure a 2023 base model Tesla Model 3 at popular insurance companies for a single 35-year-old male with a clean driving record. The listed companies provide coverage in a large portion of the US, but might not be available near you.
Click here to see what it would cost to insure your Tesla Model 3 at top providers near you >
Annual rates for a single 35-year-old male, estimated using public rate filings sourced from First Interpreter. Rates do not represent actual quotes. Accurate as of July 2023.Â
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While the vehicle you drive plays a key role in the price you pay for insurance, other factors like where you live, your age, driving record, and more will also factor into the price of your premium. Because of this, the best way to save money on car insurance is to compare personalized rates from several insurance companies to find the cheapest premium for you. You should also see if you qualify for any discounts like a homeowner, multi-vehicle, or good driver discount.
Your Tesla Model 3 may also be eligible for discounts at certain insurance companies depending on the safety ratings and features that come with your model year and trim level.
Personalized rate estimates at the top insurance companies in your state
Your rates will vary based on where you live, your age, and other factors like your driving record
Rate Retriever rates are based on public rate filings obtained by analytics company First Interpreter. This data comes from the rating plans insurance carriers submit to each state’s department of insurance. Rating plans detail how each carrier calculates premiums using factors such as location, age, gender, and driving record, and they ensure that insurance premiums are both fair and competitive.Â
For the data on this page, we made the following assumptions: a 35-year-old single male with a clean driving record and Good credit score. We adjusted this profile by vehicle make, model, trim, and year to determine the rates you see on this page.
These rates are not actual quotes and should only be used for comparative purposes. Your rates can vary significantly based on your unique driver profile.Â
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