Tesla Model 3 Car Insurance Cost 2025
Typically, Porsche Panamera drivers can expect to pay an average of $767 per year for car insurance. Keep in mind that this is just an estimate—your actual rate could be higher or lower depending on factors like your age, location, driving history, and the coverage options you choose.
We’ve saved shoppers an average of $600 per year on their car insurance.
If you’re thinking about buying a Tesla Model 3, you’ll need to factor in the cost of insurance. On average, insurance for a Tesla Model 3 costs $767 per year. Insurance plays a crucial role in car ownership, and it’s important to understand its implications before making a purchase.
Failing to choose the right car insurance can result in unexpected and potentially high expenses in the future. It’s crucial to avoid being underinsured in the event of an accident, as this could lead to significant out-of-pocket costs. Additionally, there’s the possibility of your insurance premiums rising if you’re found to be at fault.
Having analyzed car insurance rates for over ten years, I’ve witnessed the considerable variation in costs. Your age, driving history, and even your location can all have a significant impact on the insurance premiums you’ll pay.
How Much Does Tesla Model 3 Car Insurance Cost?
Typically, Tesla Model 3 drivers can expect to pay an average of $767 per year for car insurance. However, actual rates may vary depending on factors such as the driver’s age, location, driving history, and chosen coverage options.
It’s important to understand that car insurance costs can vary widely depending on several key factors. These include your location, driving history, the age of your vehicle, and the type of coverage you choose. For example, maintaining a clean driving record can help keep your premiums low, while a history of accidents or traffic violations may lead to higher rates.
Living in a densely populated urban area with heavy traffic can also increase your insurance costs compared to living in a rural area with less congestion. Additionally, the type of coverage you select plays a significant role in determining your premium. Full coverage—which includes both comprehensive and collision—tends to be more expensive than minimum liability coverage.
As shown in the table below, the insurance cost for a Tesla Model 3 is higher than the average for all Tesla models. It is also more expensive than the average insurance cost for all vehicles.
Insuranceopedia makes it easy to compare quotes from multiple auto insurance companies, helping you find the best rate based on your specific profile and needs.
| Vehicle | Average Monthly Premium |
| Tesla Model 3 | $255 |
| All Teslas | $154 |
| All Cars | $175 |
Average Insurance Cost Of Tesla Model 3 By Model Year
| Model Year | Average Premium |
| 2024 Tesla Model 3 | $1,117 |
| 2023 Tesla Model 3 | $946 |
| 2022 Tesla Model 3 | $1,094 |
| 2021 Tesla Model 3 | $1,189 |
| 2020 Tesla Model 3 | $1,059 |
| 2019 Tesla Model 3 | $1,084 |
| 2018 Tesla Model 3 | $1,130 |
| 2017 Tesla Model 3 | $3,518 |
2024 Tesla Model 3 Insurance Rates
The average annual insurance cost for a 2024 Tesla Model 3 is $1,117. However, Mercury Insurance Company offers the cheapest rates, averaging $743 per year.
| Insurance Provider | Average Annual Cost |
| Plymouth Rock Assurance | $893 |
| Esurance | $1,799 |
| Erie | $1,118 |
| Travelers | $1,000 |
| New York Central Mutual Fire | $767 |
| Dairyland Auto | $946 |
| Mercury Insurance Company | $743 |
| Hanover | $1,327 |
| USAA | $1,611 |
| Kemper Auto Premier | $966 |
2023 Tesla Model 3 Insurance Rates
The average annual insurance cost for a 2023 Tesla Model 3 is $1,117. However, Safeco Company offers the cheapest rates, averaging $251 per year.
| Insurance Provider | Average Annual Cost |
| New York Central Mutual Fire | $832 |
| Direct Auto | $1,384 |
| Capital Insurance Group | $1,199 |
| Plymouth Rock Assurance | $1,007 |
| Safeco | $251 |
| Texas Farm Bureau Group | $883 |
| Mercury Insurance | $327 |
| Virginia Farm Bureau | $1,222 |
| Erie | $1,268 |
| SafeAuto | $1,082 |
2022 Tesla Model 3 Insurance Rates
The average annual insurance cost for a 2022 Tesla Model 3 is $1,094. However, Safeco offers the cheapest rates, averaging $350 per year.
| Insurance Provider | Average Annual Cost |
| Kemper Auto Premier | $757 |
| Plymouth Rock Assurance | $1,701 |
| Capital Insurance Group | $1,324 |
| American National P | $1,227 |
| Safeco | $350 |
| Mercury Insurance | $757 |
| NatGen Value | $558 |
| Texas Farm Bureau Group | $1,368 |
| Virginia Farm Bureau | $1,570 |
| Titan | $1,325 |
2021 Tesla Model 3 Insurance Rates
The average annual insurance cost for a 2021 Tesla Model 3 is $1,189. However, American National P offers the cheapest rates, averaging $664 per year.
| Insurance Provider | Average Annual Cost |
| Farm Bureau Mutual (IA Group) | $1,133 |
| Partners Mutual Insurance Co | $1,391 |
| Mercury Insurance | $1,351 |
| Buckeye Insurance Group | $1,240 |
| American National P | $664 |
| IMT Insurance Company | $1,226 |
| Safeco | $907 |
| Texas Farm Bureau Group | $1,337 |
| ACCC Insurance Company | $1,337 |
| Indiana Farmers Mutual Ins | $1,308 |
2020 Tesla Model 3 Insurance Rates
The average annual insurance cost for a 2020 Tesla Model 3 is $1,059. However, Safeco offers the cheapest rates, averaging $514 per year.
| Insurance Provider | Average Annual Cost |
| Mercury Insurance | $976 |
| Western National | $1,244 |
| North Carolina Farm Bureau | $1,143 |
| West Bend Mutual | $1,110 |
| Safeco | $514 |
| Dairyland Auto 1 Month | $1,155 |
| Titan | $938 |
| Rural Mutual Insurance | $1,158 |
| Texas Farm Bureau Group | $1,211 |
| Liberty Mutual | $1,143 |
2019 Tesla Model 3 Insurance Rates
The average annual insurance cost for a 2019 Tesla Model 3 is $1,059. However, Mercury Insuranceoffers the cheapest rates, averaging $563 per year.
| Insurance Provider | Average Annual Cost |
| American National P | $871 |
| Capital Insurance Group | $1,459 |
| PEMCO | $1,278 |
| SafeAuto | $1,034 |
| Mercury Insurance | $563 |
| Tennessee Farmers | $986 |
| Safeco | $588 |
| Liberty Mutual | $1,380 |
| Oregon Mutual | $1,449 |
| SECURA Insurance | $1,228 |
2018 Tesla Model 3 Insurance Rates
The average annual insurance cost for a 2018 Tesla Model 3 is $1,084. However, Mercury Insurance offers the cheapest rates, averaging $567 per year.
| Insurance Provider | Average Annual Cost |
| American National P | $727 |
| Southern Farm Bureau | $1,572 |
| Virginia Farm Bureau | $1,369 |
| Verti Insurance | $1,195 |
| Mercury Insurance | $567 |
| Pekin Insurance | $1,108 |
| Safeco | $639 |
| Capital Insurance Group | $1,414 |
| SECURA Insurance | $1,441 |
| Texas Farm Bureau Group | $1,266 |
2017 Tesla Model 3 Insurance Rates
The average annual insurance cost for a 2017 Tesla Model 3 is $1,130. However, Unitrin offers the cheapest rates, averaging $2,104 per year.
| Insurance Provider | Average Annual Cost |
| Grange | $2,627 |
| Auto Club | $4,659 |
| Hartford | $4,037 |
| USAA | $3,602 |
| Unitrin | $2,104 |
| Nationwide | $3,321 |
| California Capital | $2,500 |
| Alliance United | $4,245 |
| State Farm | $4,452 |
| Bristol West | $3,632 |
Find Affordable Tesla Model 3 Insurance Rates
Is A Tesla Model 3 Expensive To Insure?
The cost to insure a Tesla Model 3 is higher than the overall average for all vehicles. However, the exact amount you’ll pay for coverage depends on several factors, including your age, the car’s model year, your location, and your personal driving history.
Cost of Tesla Model 3 Car Insurance By Age
Age is a major factor in determining car insurance rates. Teen drivers usually face the highest premiums, as they are statistically more likely to be involved in accidents than any other age group. As you get older and gain more driving experience, your insurance rates tend to decrease, reflecting your lower risk to insurers.
| Drive Age | Good Driver | Recent Accident | Poor Credit |
| 17 | $10,013 | $14,725 | $17,164 |
| 18 | $9,316 | $13,695 | $16,029 |
| 19 | $8,212 | $12,096 | $14,147 |
| 20 | $7,192 | $10,551 | $12,332 |
| 21 | $6,026 | $8,887 | $10,323 |
| 22 | $5,892 | $8,600 | $10,069 |
| 23 | $5,123 | $7,559 | $8,845 |
| 24 | $4,900 | $7,138 | $8,402 |
| 25 | $4,223 | $6,204 | $7,228 |
| 30 | $3,282 | $4,815 | $5,642 |
| 35 | $3,111 | $4,518 | $5,300 |
| 40 | $2,960 | $4,338 | $5,076 |
| 45 | $2,917 | $4,232 | $4,953 |
| 55 | $2,653 | $3,843 | $4,496 |
| 65 | $2,726 | $4,005 | $4,724 |
| 75 | $3,446 | $5,100 | $5,964 |
Tesla Model 3 Car Insurance Rates By State
Where you live plays a major role in how insurance companies determine your rates. Each state has its own auto insurance regulations—for instance, drivers in Michigan often pay higher premiums due to the state’s requirement for more extensive coverage. Climate also matters, as areas prone to extreme weather events like hurricanes, flooding, or severe storms may see increased insurance costs.
In addition, local statistics on crime, accidents, car thefts, and traffic fatalities all influence your premium. Insurance companies take all of these location-based factors into account when calculating the cost to insure your Tesla Model 3.
| State | Good Driver | Recent Accident | Poor Credit |
| Alabama | $3,113 | $4,532 | $5,799 |
| Alaska | $2,559 | $3,569 | $3,463 |
| Arizona | $2,934 | $4,209 | $6,257 |
| Arkansas | $3,236 | $5,070 | $5,537 |
| California | $3,590 | $6,315 | $3,587 |
| Colorado | $3,329 | $4,678 | $5,936 |
| Connecticut | $4,246 | $6,632 | $8,386 |
| Delaware | $3,503 | $4,710 | $6,019 |
| Florida | $4,191 | $5,792 | $7,576 |
| Hawaii | $1,364 | $1,847 | $1,362 |
| Idaho | $2,359 | $3,137 | $3,814 |
| Illinois | $2,487 | $3,762 | $4,328 |
| Indiana | $2,587 | $3,864 | $4,377 |
| Iowa | $2,029 | $2,738 | $3,257 |
| Kansas | $2,689 | $3,922 | $4,603 |
| Kentucky | $3,916 | $5,749 | $6,702 |
| Louisiana | $5,008 | $7,540 | $8,205 |
| Maine | $1,933 | $2,603 | $3,855 |
| Maryland | $3,011 | $4,408 | $4,952 |
| Massachusetts | $2,462 | $4,290 | $2,497 |
| Michigan | $5,893 | $9,022 | $14,226 |
| Minnesota | $2,398 | $3,215 | $4,599 |
| Mississippi | $2,939 | $4,206 | $4,194 |
| Missouri | $2,758 | $3,974 | $5,190 |
| Montana | $2,811 | $3,960 | $4,581 |
| Nebraska | $2,357 | $3,518 | $3,853 |
| Nevada | $3,946 | $5,820 | $6,177 |
| New Hampshire | $2,735 | $4,315 | $5,436 |
| New Jersey | $3,024 | $4,684 | $6,208 |
| New Mexico | $3,085 | $4,542 | $4,743 |
| New York | $2,886 | $3,599 | $5,977 |
| North Carolina | $1,749 | $2,997 | $2,178 |
| North Dakota | $2,413 | $3,670 | $4,320 |
| Ohio | $2,195 | $3,296 | $3,412 |
| Oklahoma | $3,423 | $4,911 | $5,527 |
| Oregon | $3,117 | $4,203 | $5,018 |
| Pennsylvania | $2,664 | $3,842 | $4,516 |
| Rhode Island | $4,408 | $6,461 | $7,297 |
| South Carolina | $3,002 | $4,117 | $5,698 |
| South Dakota | $2,681 | $3,854 | $4,458 |
| Tennessee | $3,172 | $4,641 | $6,173 |
| Texas | $3,182 | $4,610 | $5,718 |
| Utah | $2,683 | $3,791 | $5,194 |
| Vermont | $2,078 | $3,173 | $3,395 |
| Virginia | $1,948 | $2,986 | $2,955 |
| Washington | $2,611 | $3,534 | $4,173 |
| West Virginia | $2,613 | $3,716 | $4,705 |
| Wisconsin | $2,596 | $4,072 | $4,594 |
| Wyoming | $2,421 | $3,402 | $3,621 |
| Georgia | $3,394 | $5,121 | $5,172 |
Find Affordable Tesla Model 3 Insurance Rates
Cheapest Car Insurance Companies For A Tesla Model 3
If you’re planning to purchase a new car insurance policy for your Tesla Model 3, you might be wondering which companies offer the most affordable rates. According to recent data, HiRoad offers the lowest average premium at $105 per month, making it the most budget-friendly option for Tesla Model 3 drivers. However, insurance rates can vary widely based on your individual profile, including your driving history, location, and coverage preferences. To find the best rate tailored to your needs, it’s always a good idea to shop around and compare quotes from multiple providers.
| Company | Average Monthly Rate |
| HiRoad | $105 |
| Safeco | $171 |
| Just Insure | $185 |
| Mile Auto | $151 |
| Mercury | $180 |
Common Tesla Model 3 Insurance Discounts
Discounts are a great way to lower your car insurance costs. While each auto insurance provider offers different discounts, here are some common ones you might be eligible for:
-
Multi-policy discount: Bundle your home and auto insurance with the same provider to receive a lower rate.
-
Pay annually: Paying your premium in one lump sum instead of monthly can result in savings.
-
Defensive driving: Taking a certified defensive driving course can make you eligible for a discount.
-
Other discounts: There may be additional discounts based on your driving history, vehicle safety features, or even your profession.
To make sure you’re getting the best deal, talk to your insurance agent to see which discounts apply to you.
Compare Tesla Model 3 To Other Tesla Models
Looking for other Tesla model insurance costs?
Our Methodology
To calculate average car insurance costs, Insuranceopedia gathered data from thousands of quotes provided by leading auto insurance companies. The sample used was for a 40-year-old male driver purchasing full-coverage insurance with the following coverage limits: $100,000 for property damage liability, $100,000 for bodily injury liability, and a $1,000 deductible. However, it is important to note that these figures may differ from your personal results, as the final cost of your insurance will depend on your individual factors, such as age, driving history, location, and the specifics of the coverage you choose.
Quotes Analyzed
Brands Reviewed
Brands Reviewed
Years Of Experience
FAQs
Do You Need Insurance Before You Can Purchase A Tesla Model 3?
Yes, you will need to provide proof of insurance before you can drive your Tesla Model 3 off the dealership lot. It’s best to purchase a policy in advance and then inform your insurance company that you’re about to buy your car. This way, you can avoid getting insurance through the dealership and ensure that you’re fully covered when you drive off.
How Can You Get The Cheapest Insurance For Your Tesla Model 3?
The best way to find the cheapest rates for your Tesla Model 3 is by shopping around and comparing quotes from different auto insurance companies. Fortunately, Insuranceopedia allows you to compare quotes from multiple providers, helping you find the best deal for your specific needs directly on our website.
