Tesla Model 3 Car Insurance Cost In 2024
To insure a Tesla Model 3, it typically costs approximately $767 per year through New York Central Mutual Fire. However, the actual cost can vary based on factors like your age, the model year of the car, and other considerations. You can use our quote tables below to get a more accurate estimate of your specific costs.
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. 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, New York Central Mutual Fire provides the most competitive price, averaging around $767 per year for comprehensive insurance on a 2024 Tesla Model 3.
While the rate offered by New York Central Mutual Fire serves as a good reference point, it’s crucial to recognize that car insurance costs can vary significantly based on various factors. These factors encompass your location, driving history, the model year of your vehicle, and the specific coverage options you select. Having a clean driving record can result in lower premiums, whereas a record of accidents or traffic violations may cause your costs to rise.
Moreover, residing in an urban area with heavy traffic can lead to higher insurance rates compared to rural regions with less traffic congestion. Your choice of coverage also plays a role; comprehensive coverage, which includes both comprehensive and collision coverage, typically commands a higher premium than minimum liability coverage.
Insuranceopedia is available to assist you in exploring your options and comparing quotes from different insurance providers, ensuring that you secure the most favorable deal.
2024 Tesla Model 3 Insurance Rates
| 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
| 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
| 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
| 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
| 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
| 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
| 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
| 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 Car Insurance
Cost of Tesla Model 3 Car Insurance By Age
| 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
| 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 |
Compare Tesla Model 3 To Other Tesla Models
Looking for other Tesla model insurance costs?
Our Methodology
To ensure accurate and trustworthy insurance company ratings, I employed a detailed methodology. I assess numerous insurers, utilizing insights from reputable review sites and critical metrics from industry authorities such as A.M. Best and J.D. Power. With my 15 years of experience as an insurance agent, I enhance our analysis with firsthand knowledge, ensuring our ratings are reliable guides for your insurance decision-making process.
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