Cheapest Insurance For Tesla Model 3

Cheapest insurance for Tesla model 3      

Among the largest insurers, state farm has the cheapest insurance for Tesla Model 3 owners. Companies like USSA would have taken over state Farm, but it doesn’t get included in most analysis because of it’s only given out to military personnel, veterans and their families, so if you are not among the military personnel, you won’t get coverage by the company.  Although it is one of the largest insurers in the country, another company which is not included in this rating is Liberty Mutual, this is because it lacks publicly available information.

While finding the cheapest insurance for Tesla model 3, make sure to check smaller regional providers as well. This is because they may have rates than other bigger companies in your neighbor hood.

Cheapest insurance for Tesla model 3

companyAverage annual rate
1. State Farm$1,756
2. Farmers$2,235
3. Progressive$2,536
4. Geico$2,658
5. Allstate$3,151

What is Tesla insurance ?

In the year 2019, Tesla launched its own insurance option in order to ease financial burden Tesla owners faced when insuring their vehicles. Long ago, the company has claimed Tesla insurance can save drivers about 20 percent when its compared with other top carriers.

At first, it’s sold in California alone, but the company has provide licensed broker who take over Tesla drivers in states like California, Colorado, Arizona, Illinois, Ohio, Texas, Oregon and Virginia by providing cheapest insurance for Tesla model 3. In major states like Virginia and Oregon, Tesla underwrites its own policies through Tesla General Insurance, according to an insurance Business Magazine.  However this company has tried to enlarge its insurance policies to more states in the nearest future.

This insurance is not only made for Tesla owners alone but for both Tesla and non-Tesla vehicles.

Facts about tesla Model 3 insurance

Top of Form

  • It cost $215/month for an average insurance
  • State Farm cheapest affordable company for the year 2022 with the annual rate of $1,756
  • Model 3 insurance cost vs. average car insurance cost : $86 more expensive than an average car insurance.

Bottom of Form

Browse the data below to see average annual prices from established auto insurance companies for the Tesla Model 3 by year. Then use The Zebra to quickly get a car insurance quote for your vehicle.

what impact the cost of Tesla Model 3 Insurance?

Despite the fact that the average annual rate for Tesla Model 3 is $1,756, your policy may also vary, it may be higher or lower depending on your profile. And the factors that affect the cost of tesla model 3 can be your age, driving history, home address, and the model of your Tesla Model 3.

ALSO READ:. beginners guide to electric car insurance

Age of the Vehicle

For newer Tesla Model 3, the average insurance rates tends to be higher. For instance, the car insurance rate for a 2022 Tesla Model 3 are $1,756, while 2018 Tesla Model 3 rates are $1,744, a difference of $12

 Driver Age

The age of the driver is another factor that may affect your Tesla Model 3 auto insurance rate. For instance, a 45-years-old driver could pay $190 less each month for their Tesla Model 3 car insurance compared to driver of 20-year-old

Driver Location

Another factor is the drivers location, the location which the driver lives also cause an impact on your Tesla Model 3 insurance rates. For example, driver who base in Los Angeles may pay $1,549 a year which will be much more than a driver from Indianapolis.

Your Driving Record

Another factor which may cause a great impact on your Tesla Model 3 auto Insurance. Teenager and drivers in their early  20’s see the highest jump in their Tesla Model 3 car insurance with violation on their driving record.

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