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.

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Updated: 04 April 2024
Written by
Ahmed
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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

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.

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