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Tesla Model 3 car insurance rates

Average insurance cost for your Tesla Model 3: $243. But how low can your rates go?

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How much does insurance cost?See sample rates

The average cost of car insurance for a 2021 Tesla Model 3 is $243.37 a month —or $2,921.64 a year. However, your actual costs depend on your driving history, car model, location and other factors.

Filter car insurance companies by states served, roadside assistance, accident forgiveness and more to get a quote.

Name Product Roadside assistance New car protection Accident forgiveness Safe driver discount Available states
Allstate
Optional
13%
All 50 states
Your dedicated agent can help you find the best savings with multiple discounts and rewards programs.
Progressive
Optional
30%
All 50 states & DC
Discover coverage that’s broader than competitors, valuable discounts up to 30% off and perks like shrinking deductibles that reward no claims.
The AARP Auto Insurance Program from The Hartford
Optional
Yes
All 50 states
Enjoy low rates for mature drivers, plus perks like new car replacement and lifetime repair guarantees. Only for drivers over age 50.
Root
52%
Available in 31 states
Track your driving to receive a low rate that reflects your driving skills, and enjoy a fully app-based policy experience.
Savvy
Optional
Depends on provider
Yes
All states & DC
Get quotes in 30-seconds from 100+ companies, and save an average of $800 or more per year. Requires online login to your existing insurance.
Liberty Mutual
Optional
30%
All 50 states & DC
Earn free accident forgiveness after five years claims-free and customize your policy anytime online at the tap of a button.
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Tesla Model 3 car insurance rates

We pulled Tesla Model 3 car insurance quotes from top insurance companies to find that the average monthly cost to insure a 2021 Tesla Model 3 is $243.37. However, an older model may score you lower rates.

Model YearProgressiveGeicoState FarmFarmersAverage
2017 Tesla Model 3$177.42$187.16$189.85$231.00$196.36
2021 Tesla Model 3$259.60$215.20$239.31$259.35$243.37

How we got these rates

Our rates are based on a single 30-year old driver with a clean driving history living in California. California is one of seven states that don’t use gender to determine car insurance costs. We chose full coverage car insurance with liability limits that exceed the California state minimum requirements, which include:

  • Bodily injury liability per person: $50,000
  • Bodily injury liability per accident: $100,000
  • Property damage liability: $50,000
  • Comprehensive deductible: $500
  • Collision deductible: $500
  • Medical payments: $5,000
  • Uninsured motorist bodily injury: $50,000/$100,000

Your rates may be different based on details such as your zip, location, job type, annual mileage and more.

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Enter your ZIP code below and click Compare to see the cheapest rates in your area.

How do I compare insurance for the Tesla Model 3?

When you’re shopping around for an insurer, think about these factors:

  • Price. Electric cars are generally more expensive to insure than their gas counterparts, though you could get a 5 to 10% electric car discount.
  • Additional coverage. You may want more than the minimum state coverage requirement for your Tesla. Since Teslas can be more expensive to repair, you might want to opt for collision coverage. And if you live in a high-crime area or a town where hurricanes or rock slides are a concern, comprehensive coverage could be a good idea.
  • Extras. If you want to enhance your policy with extras like accident forgiveness and vanishing deductibles, look for a provider that ticks those boxes.
  • Restrictions. Each provider has its own set of limitations. Research these now to avoid any gaps in coverage, denied claims and other surprises later on. Not every insurer is prepared to cover a Tesla, even this entry-level model.
  • Manufacturer offer or loyalty discount. Tesla is known to offer showroom discounts, as well as referral discounts that increase with each qualifying referral.
  • Warranty. The Model 3 is protected by a new vehicle limited warranty for four years or 50,000 miles — whatever comes first. Tesla also covers vehicles with the standard battery for eight years or 100,000 miles, as well as those with the long-range battery for eight years or 120,000 miles. The warranty includes basic towing up to 500 miles for issues covered by the warranty and towing due to flat tires up to 50 miles to the nearest Tesla service center.

Driver factors

Providers care about the person driving the car, too. When determining your premium, they consider your driving history, including any violations, accidents and claims. If your driving record is clean or free from major violations in the last three to five years, you may score a better rate. Insurers will also look at your credit history, where you live and who else will be driving the car.

Does the Tesla Model 3 qualify for discounts?

Depending on your provider, the Model 3 might qualify for several discounts. These discounts may help to offset the high cost of electric car insurance and ensure you get the most value for your money. As you’re researching, ask if these safety discounts apply.

  • New car discount
  • Anti-theft discount
  • Anti-lock brake discount

Reliability and safety ratings for the Tesla Model 3

The Model 3 hasn’t undergone crash testing with the National Highway Traffic Safety Administration. However, the Insurance Institute for Highway Safety has run a few tests. The car earned a superior rating for its front crash prevention and an A rating for its headlights.

US News also awarded the 2018 Tesla Model 3 a score of 9 out of 10, ranking it #4 in the Luxury Small Cars category. This score reflects reliability data and a range of safety and style features. As of July 2018, the Model 3 has had no recalls.

The Model 3 is incredibly efficient. If you drive around 15,000 miles a year in cities and on highways, you can expect to pay $500 annually to charge the car. To put this into perspective, a 25-mile drive will set you back just 84 cents. According to the US Department of Energy, you can save up to $5,250 in fuel costs over five years compared to the average new vehicle. As for battery life, the base Model 3 travels around 220 miles on a full charge under ideal conditions. If you opt for the long-range battery, that number increases to 310 miles.

Is roadside assistance included in my Tesla Model 3’s warranty?

Yes. Tesla offers 24/7 roadside assistance for the first four years or the first 50,000 miles for cars covered by the new vehicle limited warranty.

Can I get my Model 3 repaired anywhere?

No. Tesla has a network of approved body shops around the country, so your best bet is to find one close to you. The Tesla Body Repair Program team work with these shops to make sure they’re meeting the company’s stringent standards for repairs.

What is Insure My Tesla?

Insure My Tesla is a car insurance program designed exclusively for Tesla drivers. Underwritten by Liberty Mutual, it’s set to roll out in all 50 states sometime this year. It will provide inclusive insurance from Liberty Mutual at the time you purchase your Tesla.

Bottom line

The Tesla Model 3 is a luxury sports car, and those two descriptors don’t make it the most wallet-friendly car on the market. It tends to be on the pricier side to insure, but you may be able to cut down costs with discounts for safety features and defensive driving. Plus, as a bonus, BMW’s warranty and maintenance program is better than the industry standard.

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