Key TakeAways
Owning a Tesla Model 3 offers cutting-edge technology and a sleek design. However, it's important to note that its high repair costs may lead to increased auto insurance rates. Let's explore why maintaining this electric beauty on the road might be more expensive than you realize.
A full coverage of auto insurance for a 2021 Tesla Model 3 costs an average of $3654 per year or $305 per month. On average, it costs about $2,681 a year or $223 a month to get full coverage auto insurance for other cars across the country.
'We have included detailed pricing information for some of the Tesla Model's unique variants, including Tesla Model X, Tesla Model Y and Tesla Model S.'
Recent data shows that Travelers usually has the best insurance rates for a Tesla Model 3, with rates as low as $2252 per year. On the other hand, Allstate usually has the highest insurance costs, with $4673 per year.
| Car Insurance Provider | Estimated Monthly Cost | Estimated Annual Cost |
|---|---|---|
| Travelers | $188 | $2,252 |
| Auto-Owners Insurance | $199 | $2,393 |
| USAA* | $205 | $2,456 |
| Nationwide | $206 | $2,472 |
| Erie Insurance | $259 | $3,111 |
| State Farm | $264 | $3,165 |
| Progressive | $301 | $3,616 |
| American Family Insurance | $331 | $3,968 |
| Allstate | $389 | $4,673 |
The table below shows insurance rates for every trim level of the Tesla Model 3 from 2017 to 2022.
| Model Year | Tesla Model 3 Trim Level | Annual Premium | Cost Per Month |
|---|---|---|---|
| 2022 | Standard Range 2WD
Long Range AWD Performance AWD |
$1,822
$1,936 $2,122 |
$152
$161 $177 |
| 2021 | Standard Range AWD
Long Range AWD Performance AWD |
$1,876
$2,044 $2,268 |
$156
$170 $189 |
| 2020 | Standard Range AWD
Long Range AWD Performance AWD |
$1,818
$1,980 $2,198 |
$152
$165 $183 |
| 2019 | Standard Range AWD
Long Range AWD Performance AWD |
$1,714
$1,870 $1,824 |
$143
$156 $152 |
| 2018 | Sedan
AWD Performance AWD |
$1,700
$1,750 $2,006 |
$142
$146 $167 |
| 2017 | Sedan | $1,540 | $128 |
The Tesla Model 3 is one of the more expensive midsize cars to cover. On average, it costs 54.67% more per year than other cars in the same class. Annual full-coverage auto insurance for the Tesla Model 3 costs about $3654, while the average cost for cars in this class is $2085 a year.
The 2024 midsize car class has 11 cars, and the Tesla Model 3 is number 11 on the list.
| Make and Model | Annual Premium |
|---|---|
| Kia K5 | $1,970 |
| Honda Accord | $1,974 |
| Chevrolet Malibu | $1,982 |
| Volkswagen Arteon | $2,008 |
| Subaru Legacy | $2,016 |
| Hyundai Ioniq 6 | $2,034 |
| Toyota Crown | $2,070 |
| Hyundai Sonata | $2,072 |
| Toyota Camry | $2,196 |
| Nissan Altima | $2,214 |
| Tesla Model 3 | $3654 |
Like every other car, Tesla's auto insurance premiums will depend of the age of it's driver. The younger the driver the more expensive the auto insurance rates.
Full coverage car insurance for a Tesla Model 3 costs $9,276 a year for a 16-year-old driver but only $2,025 for a 40-year-old. The cost of car insurance for teens is much higher than for people in their 30s and 40s. As teen drivers get older, their insurance rates go down a lot until they hit a plateau in their early 20s.
|
|
|
|---|---|
| Driver Age | Average Annual Premium |
| 16 | $9,276 |
| 17 | $7,575 |
| 18 | $6,710 |
| 19 | $4,645 |
| 20 | $4,230 |
| 21 | $3,282 |
| 22 | $3,037 |
| 23 | $2,821 |
| 24 | $2,681 |
| 25 | $2,407 |
|
|
|
|---|---|
| Driver Age | Average Annual Premium |
| 16 | $2,921 |
| 17 | $2,374 |
| 18 | $2,072 |
| 19 | $1,424 |
| 20 | $1,277 |
| 21 | $962 |
| 22 | $886 |
| 23 | $818 |
| 24 | $773 |
| 25 | $700 |
If you own a Tesla Model 3 and are looking to save on insurance, it's important to note that rates can vary widely by state. For example, in states like Idaho, you could pay as little as $127 annually with American National P&C, while in Florida, the cost shoots up to $485 with GENERAL.
Finding the best insurance for your Tesla Model 3 depends on where you live, with top companies like State Farm and Erie offering affordable options. If you're interested in how your state compares, take a closer look to find out more.
|
|
|||
|---|---|---|---|
| State | Cheapest Company | Annual Premium | Monthly Premium |
| Alabama | Cincinnati Insurance | $201 | $17 |
| Alaska | State Farm | $322 | $27 |
| Arizona | Mercury | $305 | $25 |
| Arkansas | State Farm | $232 | $19 |
| California | GENERAL | $419 | $35 |
| Colorado | American National P&C | $216 | $18 |
| Connecticut | GENERAL | $319 | $27 |
| Delaware | Travelers | $464 | $39 |
| District of Columbia | GENERAL | $372 | $31 |
| District of Columbia | Chubb | $372 | $31 |
| Florida | GENERAL | $485 | $40 |
| Georgia | Auto-Owners Insurance Co | $311 | $26 |
| Hawaii | GENERAL | $217 | $18 |
| Idaho | American National P&C | $127 | $11 |
| Illinois | Mercury | $226 | $19 |
| Indiana | Auto-Owners Insurance Co | $228 | $19 |
| Iowa | State Farm | $144 | $12 |
| Kansas | Nationwide | $221 | $18 |
| Kentucky | Cincinnati Insurance | $257 | $21 |
| Louisiana | Louisiana Farm Bureau | $484 | $40 |
| Maine | Countryway Insurance | $221 | $18 |
| Maryland | Kemper | $538 | $45 |
| Massachusetts | State Farm | $221 | $18 |
| Michigan | Travelers | $101 | $8 |
| Minnesota | Westfield | $317 | $26 |
| Mississippi | Direct General Insurance | $275 | $23 |
| Missouri | State Farm | $388 | $32 |
| Montana | State Farm | $168 | $14 |
| Nebraska | American National P&C | $138 | $12 |
| Nevada | CSAA | $444 | $37 |
| New Hampshire | State Farm | $247 | $21 |
| New Jersey | GENERAL | $428 | $36 |
| New Mexico | State Farm | $254 | $21 |
| New York | Kemper | $464 | $39 |
| North Carolina | Nationwide | $242 | $20 |
| North Dakota | Nodak Mutual | $190 | $16 |
| Ohio | Erie | $176 | $15 |
| Oklahoma | State Farm | $215 | $18 |
| Oregon | State Farm | $381 | $32 |
| Pennsylvania | Erie | $238 | $20 |
| Rhode Island | State Farm | $344 | $29 |
| South Carolina | American National P&C | $251 | $21 |
| South Dakota | Farmers Mutual of Nebraska | $207 | $17 |
| Tennessee | Auto-Owners Insurance Co | $207 | $17 |
| Texas | State Farm | $321 | $27 |
| Utah | Farmers Union Insurance | $388 | $32 |
| Vermont | State Farm | $198 | $17 |
| Virginia | American Family | $243 | $20 |
| Washington | PEMCO | $262 | $22 |
| West Virginia | Erie | $303 | $25 |
| Wisconsin | Erie | $230 | $19 |
| Wyoming | GENERAL | $176 | $15 |
|
|
|||
|---|---|---|---|
| State | Cheapest Company | Annual Premium | Monthly Premium |
| Alabama | Nationwide | $709 | $59 |
| Alaska | State Farm | $699 | $58 |
| Arizona | Root Insurance Company | $682 | $57 |
| Arkansas | State Farm | $629 | $52 |
| California | AAA California | $1,001 | $83 |
| Colorado | American National P&C | $541 | $45 |
| Connecticut | GENERAL | $693 | $58 |
| Delaware | State Farm | $881 | $73 |
| District of Columbia | GENERAL | $662 | $55 |
| Florida | State Farm | $1,058 | $88 |
| Georgia | Country Financial | $665 | $55 |
| Hawaii | GENERAL | $565 | $47 |
| Idaho | American National P&C | $299 | $25 |
| Illinois | Country Financial | $663 | $55 |
| Indiana | American Family | $555 | $46 |
| Iowa | State Farm | $509 | $42 |
| Kansas | Nationwide | $670 | $56 |
| Kentucky | Nationwide | $790 | $66 |
| Louisiana | Louisiana Farm Bureau | $1,048 | $87 |
| Maine | Concord Group | $521 | $43 |
| Maryland | Progressive | $938 | $78 |
| Massachusetts | State Farm | $483 | $40 |
| Michigan | GENERAL | $898 | $75 |
| Minnesota | State Farm | $797 | $66 |
| Mississippi | Direct General Insurance | $723 | $60 |
| Missouri | Nationwide | $909 | $76 |
| Montana | Progressive | $437 | $36 |
| Nebraska | American National P&C | $405 | $34 |
| Nevada | CSAA | $940 | $78 |
| New Hampshire | State Farm | $540 | $45 |
| New Jersey | Plymouth Rock Assurance | $895 | $75 |
| New Mexico | State Farm | $644 | $54 |
| New York | Kemper | $781 | $65 |
| North Carolina | Erie | $630 | $52 |
| North Dakota | American Family | $616 | $51 |
| Ohio | Nationwide | $485 | $40 |
| Oklahoma | State Farm | $662 | $55 |
| Oregon | State Farm | $706 | $59 |
| Pennsylvania | Nationwide | $580 | $48 |
| Rhode Island | State Farm | $700 | $58 |
| South Carolina | American National P&C | $463 | $39 |
| South Dakota | Allstate | $746 | $62 |
| Tennessee | State Farm | $579 | $48 |
| Texas | State Farm | $699 | $58 |
| Utah | Nationwide | $725 | $60 |
| Vermont | State Farm | $493 | $41 |
| Virginia | American Family | $601 | $50 |
| Washington | PEMCO | $534 | $44 |
| West Virginia | Erie | $784 | $65 |
| Wisconsin | GENERAL | $556 | $46 |
| Wyoming | State Farm | $745 | $62 |
Tesla cars cost a lot to buy and repair, so their insurance costs a lot, too. Compared to other electric cars, they cost even more to cover.
Teslas can only be fixed at body shops that have been approved by Tesla. Drivers have to pay a lot more because they must pay for training and tools to get qualified.
Recent data shows that Travelers usually has the best insurance rates for a Tesla Model 3, with rates as low as $2252 per year.
Recent data shows that Travelers usually has the best insurance rates for a Tesla Model 3, with rates as low as $2252 per year.
Almost every Tesla model will cost more to cover than the average car in the United States. Tesla cars have a lot of high-tech parts that are hard to find, which drives up the cost of repairs.
The average cost of upkeep for a Tesla is $832 per year, which is much more than the average cost of $652 per year for all U.S.-sold cars. Tesla Model 3 repair costs might be different from Tesla Model Y or Model X costs.
A full coverage auto insurance for a Tesla Model 3 costs about $2117 a year, or $176 a month.
It can cost up to $20,000 to get a new battery for a Tesla Model 3. Teslas are made of aluminum, which is more expensive to replace than fiberglass bodies, and the batteries are very expensive to repair. Also, if your Tesla gets damaged in an accident, it has to go to a company-approved crash center. This makes it harder to find cheap repair prices.
The auto insurance rates published in this guide are based on the results of research completed by Way.com’s data team. Using a mix of public and internal data, we analyzed millions of rate averages across U.S. ZIP codes.
Quotes are typically based on a full coverage policy average unless otherwise noted within the content.
These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes will differ. Given this, it’s important to go through our insurance steps form to find how much you can save with way.com
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