Know About Tesla Model 3 Car Insurance Cost

 Buying a Tesla Model 3 car isn’t cheap-Tesla is among the world classical and luxurious vehicle, but could it save your money over time? Of course while using Tesla, you won’t need to stop at the public Gas station. There is a cost for maintenance savings, too, from less frequent break pad swaps to nonexistent oil changes. Don’t forsake insurance while using such luxury vehicle, it’s necessary for you to know your Tesla Model 3 car insurance cost , although that can be a big expensive because it’s a high-tech luxury car.

Tesla Model 3 car insurance cost is almost equivalents with vehicle like BMW, the premium of every Tesla are also similar with other fueled-power vehicles. The numbers varies, and are based on national averages for a single 40-years-old male with a neat record, 12 miles of commuting to work every day and a good credit.  

Is it more expensive to insure a Tesla than a regular luxury car? It depends. Due to how expensive a Tesla vehicle is, this makes Tesla more expensive to insure than branded cars because of it’s a high technology car so it’s highly expensive to repair, which increases the cost of collision coverage. While insuring a Tesla car, The price of your policy depends on the Tesla model and trim you choose, your location and driving history and the amount of coverage you choose.

Tesla established a Tesla insurance Company to create cheap coverage for Tesla Vehicles instead of getting insured by other insuring companies which will more expensive. However, the Tesla insurance is only available in eight states, and has some limitations that will hinder most drivers.

How much does insurance cost for a Tesla?

The price to insure a Tesla model 3 varies significantly based on the type if insurer you choose. The Tesla model 3 car insurance cost is $1,756. Other latest Tesla Model like the Model Y, is less expensive to insure and it’s not the cheapest car Tesla Makes, it’s a crossover that’s a bit cheaper than Model 3.  However, crossover-style vehicles tends to be less expensive.  

Tesla Model S is the most expensive Tesla to insure, it’s insured at an average cost of $4,956 per year for the base model. Below, you can see an insurance cost comparison for each new Tesla model for a sample driver in US (Texas), based on quotes from five top insurers (including Tesla’s own offering).

companyAverage annual rate
 1.Tesla Insurance      $1,496
2. State Farm$1,756
3. Farmers$2,235
4. Progressive$2,536
5. Geico$2,658
6. Allstate$3,151

Facts about tesla Model 3 insurance

Top of Form

  • Its average insurance cost is $215/month
  • 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.

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.

READ ALSO: tips you should know for your car insurance policy

Model 3

Among Tesla brand, the Model 3 sedan is one of Tesla’s least expensive brands to buy, currently starting at $44,990 before incentives or add-ons. But the cost to insure is still fairly expensive, at $3,386 per year for the newest base model.

Going for either of the more expensive Model 3 variants, such models have higher speed and higher batteries storage, can cause slight increase to your insurance bill.

Model YearVariantAverage cost
2022Standard Plus$3,386
2022Long Range$3,608
2022Performance$3,752
2021Standard Plus$3,328
2020Standard Range Pl$3,199
2019$3,164
2018Long Range$3,168
2017$3,076
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