Tesla Model 3 Car Insurance Cost In 2024
To insure a Tesla Model 3, it typically costs approximately $755 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 $755 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 |
| New York Central Mutual Fire | $755 |
| Mercury Insurance Company | $775 |
| Plymouth Rock Assurance | $909 |
| Dairyland Auto | $941 |
| Travelers | $980 |
| Kemper Auto Premier | $989 |
| Erie | $1,117 |
| Esurance | $1,804 |
| Encompass | $1,843 |
| California Capital | $1,895 |
2023 Tesla Model 3 Insurance Rates
| Insurance Provider | Average Annual Cost |
| Safeco | $245 |
| Mercury Insurance | $343 |
| New York Central Mutual Fire | $828 |
| Texas Farm Bureau Group | $891 |
| Plymouth Rock Assurance | $1,024 |
| SafeAuto | $1,071 |
| Capital Insurance Group | $1,244 |
| Virginia Farm Bureau | $1,234 |
| Erie | $1,247 |
| Direct Auto | $1,403 |
2022 Tesla Model 3 Insurance Rates
| Insurance Provider | Average Annual Cost |
| Kemper Auto Premier | $579 |
| Kemper Auto Premium | $806 |
| Victoria | $919 |
| American National P | $1,030 |
| Mercury Insurance | $1,100 |
| Safeco | $1,102 |
| Titan | $1,147 |
| Nodak Mutual | $1,252 |
| Texas Farm Bureau Group | $1,430 |
| Plymouth Rock Assurance | $1,568 |
2021 Tesla Model 3 Insurance Rates
| Insurance Provider | Average Annual Cost |
| American National P | $714 |
| Safeco | $1,019 |
| Titan | $1,043 |
| Concord Group | $1,075 |
| Victoria | $1,128 |
| IMT Insurance Company | $1,244 |
| Buckeye Insurance Group | $1,281 |
| Texas Farm Bureau Group | $1,331 |
| Indiana Farmers Mutual Ins | $1,342 |
| Partners Mutual Insurance Co | $1,401 |
2020 Tesla Model 3 Insurance Rates
| Insurance Provider | Average Annual Cost |
| Concord Group | $797 |
| American National P&C | $1,008 |
| Dairyland Auto 1 Month | $1,128 |
| Rural Mutual Insurance | $1,153 |
| NatGen PPA | $1,206 |
| Mercury Insurance | $1,195 |
| SAFECO | $1,307 |
| Virginia Farm Bureau | $1,292 |
| North Carolina Farm Bureau | $1,326 |
| Countryway Insurance | $1,307 |
2019 Tesla Model 3 Insurance Rates
| Insurance Provider | Average Annual Cost |
| Mercury Insurance | $645 |
| American National P | $668 |
| American National P&C | $962 |
| Tennessee Farmers | $986 |
| West Bend Mutual | $1,102 |
| SAFECO | $1,129 |
| Rural Mutual Insurance | $1,157 |
| Bear River | $1,228 |
| Pekin Insurance | $1,372 |
| Partners Mutual Insurance Co | $1,530 |
2018 Tesla Model 3 Insurance Rates
| Insurance Provider | Average Annual Cost |
| Mercury Insurance | $533 |
| American National P | $769 |
| SAFECO | $1,035 |
| Pekin Insurance | $1,090 |
| Verti Insurance | $1,156 |
| Virginia Farm Bureau | $1,261 |
| Kentucky Farm Bureau | $1,458 |
| Farmers Mutual of Nebraska | $1,476 |
| SECURA Insurance | $1,519 |
| Capital Insurance Group | $1,564 |
2017 Tesla Model 3 Insurance Rates
| Insurance Provider | Average Annual Cost |
| Hastings Mutual Insurance Co | $648 |
| Pekin Insurance | $769 |
| Westfield | $972 |
| Virginia Farm Bureau | $1,030 |
| Grange Mutual | $1,016 |
| Buckeye Insurance Group | $1,080 |
| Indiana Farmers Mutual Ins | $1,110 |
| Motorists Mutual | $1,205 |
| Texas Farm Bureau Group | $1,221 |
| United Farm Bureau of IN Group | $1,236 |
Cost of Tesla Model 3 Car Insurance By Age
| Drive Age | Good Driver | Recent Accident | Poor Credit |
| 17 | $7,700 | $11,298 | $13,175 |
| 18 | $7,159 | $10,509 | $12,310 |
| 19 | $6,333 | $9,268 | $10,870 |
| 20 | $5,516 | $8,116 | $9,495 |
| 21 | $4,611 | $6,779 | $7,956 |
| 22 | $4,505 | $6,633 | $7,749 |
| 23 | $3,942 | $5,797 | $6,750 |
| 24 | $3,736 | $5,494 | $6,447 |
| 25 | $3,231 | $4,728 | $5,552 |
| 30 | $2,521 | $3,709 | $4,323 |
| 35 | $2,353 | $3,474 | $4,065 |
| 40 | $2,262 | $3,345 | $3,903 |
| 45 | $2,201 | $3,237 | $3,786 |
| 55 | $2,024 | $2,989 | $3,478 |
| 65 | $2,125 | $3,099 | $3,616 |
| 75 | $2,671 | $3,916 | $4,591 |
Tesla Model 3 Car Insurance Rates By State
| State | Good Driver | Recent Accident | Poor Credit |
| Alabama | $2,383 | $3,481 | $4,451 |
| Alaska | $1,968 | $2,761 | $2,692 |
| Arizona | $2,238 | $3,228 | $4,799 |
| Arkansas | $2,482 | $3,864 | $4,246 |
| California | $2,736 | $4,830 | $2,742 |
| Colorado | $2,550 | $3,601 | $4,561 |
| Connecticut | $3,290 | $5,087 | $6,449 |
| Delaware | $2,723 | $3,623 | $4,633 |
| Florida | $3,205 | $4,475 | $5,830 |
| Hawaii | $1,055 | $1,412 | $1,070 |
| Idaho | $1,837 | $2,438 | $2,921 |
| Illinois | $1,889 | $2,868 | $3,287 |
| Indiana | $1,952 | $2,979 | $3,366 |
| Iowa | $1,535 | $2,118 | $2,502 |
| Kansas | $2,051 | $3,022 | $3,509 |
| Kentucky | $2,990 | $4,389 | $5,185 |
| Louisiana | $3,831 | $5,799 | $6,276 |
| Maine | $1,450 | $2,009 | $2,976 |
| Maryland | $2,342 | $3,395 | $3,794 |
| Massachusetts | $1,883 | $3,282 | $1,901 |
| Michigan | $4,527 | $6,916 | $10,910 |
| Minnesota | $1,876 | $2,496 | $3,495 |
| Mississippi | $2,240 | $3,230 | $3,227 |
| Missouri | $2,131 | $3,035 | $4,004 |
| Montana | $2,147 | $3,022 | $3,496 |
| Nebraska | $1,835 | $2,702 | $2,929 |
| Nevada | $3,021 | $4,472 | $4,714 |
| New Hampshire | $2,088 | $3,325 | $4,187 |
| New Jersey | $2,304 | $3,614 | $4,759 |
| New Mexico | $2,351 | $3,524 | $3,626 |
| New York | $2,185 | $2,765 | $4,614 |
| North Carolina | $1,348 | $2,335 | $1,648 |
| North Dakota | $1,861 | $2,838 | $3,318 |
| Ohio | $1,664 | $2,554 | $2,620 |
| Oklahoma | $2,630 | $3,785 | $4,270 |
| Oregon | $2,417 | $3,214 | $3,842 |
| Pennsylvania | $2,042 | $2,976 | $3,477 |
| Rhode Island | $3,362 | $4,949 | $5,592 |
| South Carolina | $2,308 | $3,176 | $4,403 |
| South Dakota | $2,044 | $2,945 | $3,403 |
| Tennessee | $2,411 | $3,574 | $4,762 |
| Texas | $2,445 | $3,537 | $4,369 |
| Utah | $2,075 | $2,923 | $4,004 |
| Vermont | $1,604 | $2,461 | $2,586 |
| Virginia | $1,505 | $2,290 | $2,249 |
| Washington | $1,970 | $2,711 | $3,244 |
| West Virginia | $2,024 | $2,848 | $3,581 |
| Wisconsin | $1,996 | $3,124 | $3,544 |
| Wyoming | $1,867 | $2,598 | $2,782 |
| Georgia | $2,630 | $3,922 | $3,980 |
Compare Tesla Model 3 To Other Tesla Models
FAQs
Who has the cheapest car insurance for a Tesla Model 3?
New York Central Mutual Fire offers the most affordable car insurance for the 2024 Tesla Model 3.
Which company offers the best car insurance for a Tesla Model 3?
We think New York Central Mutual Fire provides the best car insurance for a Tesla Model 3 because it offers competitive rates, comprehensive coverage, and excellent customer service.
