Tesla Model 3 Car Insurance Rates

The cost of Tesla Model 3 car insurance rates in 2021 is $2,921.64 a year — or $243.37 monthly. You’ll be charged differently depending on your driving history, vehicle type, and area.

How do I compare insurance for the Tesla Model 3?

Tesla Model 3 Car Insurance Rates - Tesla Logo

Choose insurance after taking the following factors into account:

  • Price. When looking for insurance, keep the following factors in mind:
    The inclusion of new details. Depending on your state’s requirements, you may want to think about obtaining Tesla insurance beyond what’s legally required. Collision insurance is recommended for Teslas because of the higher cost of repairs. If you reside in a high-crime region or in a location where storms or rock falls are a possibility, you should think about purchasing comprehensive insurance.
  • Extras. Look for an insurance company that offers extra advantages like accident forgiveness or vanishing deductibles if you desire them.
  • Restrictions. Each service provider has its own set of restrictions. The importance of planning cannot be overstated. Preparation is key to avoiding difficulties later. Even if it’s a base model, not all Tesla vehicle insurance plans will cover it.
  • Manufacturers may provide discounts or incentives in exchange for customer loyalty. Tesla has become a household brand because to its well-known showroom and referral incentives (which grow in value with each successful referral).
  • Warranty. Tesla provides a four-year/50,000-mile new vehicle limited warranty on the Model 3 to guarantee customer satisfaction. Eight years or 100,000 miles of warranty coverage is provided for vehicles equipped with a standard battery. Eight years or 120,000 miles of warranty coverage is provided for vehicles equipped with the long-range battery. Up to 500 miles of warranty-covered towing and up to 50 miles of flat tire towing are included in the warranty.

Driver factors

Service providers, in addition to motorists, are concerned. There are many factors considered when figuring out how much you’ll pay for car insurance. Those with clean driving histories or no significant infractions in the previous three to five years may qualify for lower rates. Insurance providers will look at your credit history, where you reside, and who else will be driving the vehicle, too.

Does the Tesla Model 3 qualify for discounts?

Different service providers provide different incentives for the Model 3. By making these savings, you’ll be able to offset the high cost of electric vehicle insurance while also ensuring that you receive the best deal. When you’ve finished your study, ask about the applicability of these cost reduction measures.

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

Reliability and safety ratings for the Tesla Model 3

There has been no NHTSA accident testing of the Model 3 as of this writing. The Insurance Institute for Highway Safety has performed a variety of tests (IIHS). The front crash prevention performed well, and the headlamps received an A+.

The US News and World Report gave the Tesla Model 3 a score of 9 out of 10, ranking it fourth among premium compact cars. This rating is based on a number of safety and design considerations. As of July 2018, there have been no Model 3 recalls.

A true work of art, the Model 3 is a marvel of modern engineering. When using city streets and interstates for 15,000 kilometers per year, vehicle charging costs may reach $500. Think about it: a 25-mile journey only costs 84 cents per mile. According to the US Department of Energy, buying a used car instead of a new one may save you up to $5,250 over the course of five years. The basic Model 3 should have a range of approximately 220 miles if all goes according to plan. Long-range battery extends the driving range to 310 miles.

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

Yes. For the first four years or 50,000 miles on new Teslas covered by the limited warranty, Tesla offers 24-hour roadside assistance.

Can I get my Model 3 repaired anywhere?

No. This means that you should look for a Tesla-approved body shop in your area. The Tesla Body Repair Program team collaborates closely with these businesses in order to fulfill Tesla’s rigorous repair requirements.

What is Insuring My Tesla?

Insure My Tesla offers Tesla-specific auto insurance. Liberty Mutual Insurance, according to sources, will offer it for sale in all 50 states by the end of the year. Liberty Mutual’s comprehensive auto insurance will insure your Tesla when you purchase it.

Bottom line

The Tesla Model 3 is a high-end sports automobile and an electric vehicle all rolled into one. Insurance costs more, but cautious driving and safety measures may result in savings. Warranty and service from BMW are well above industry standards.

For another car insurance review, visit our review of Porsche Taycan Car Insurance Rates.