Compare Tesla Model 3 Insurance Cost For 2022: [Buy + Renew]

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Looking for Tesla Model 3 Insurance cost in 2022? Compare and get car insurance quotes online on Tesla cars. We’ll help you get car insurance online for all Tesla Model 3 and guide you on which options are best available.

Our comparison of several car insurance quotes will let you decide the best way to ensure you get your best insurance for tesla model 3. Learn what factors affect your spending decision while paying for car insurance, look at Tesla car prices, zip codes affecting its cost, discounts, credit score required, and safety ratings. To clear all your doubts, we have answered FAQs for Tesla Model 3 EV insurance.

Compare car insurance companies rates, banks auto loans, joint auto loans available, and how you can save money on car insurance. Our Step-by-step guide on how to get cheaper car insurance for Tesla will help you get a lower insurance policy up to $134 per month. You can also compare auto insurance quotes side by side.

Mount Shine’s study on Tesla Model 3 insurance costs will help you save money on your next auto insurance policy and make the best financial decision.

Tesla Model 3 Insurance: Overview [2022]?

The average insurance cost for Tesla Model 3 is $1,602 per year or around $134 per month, depending on the car’s features. The cheapest car insurance for Tesla model 3 is on the standard Range 2WD at about $1,488 per year, and the most expensive Tesla is the Performance AWD at $1,736 per year. The insurance of the Tesla Model 3 price is higher compared to other midsize cars that can cost up to $13.

Tesla Model 3 Insurance Cost
Tesla Model 3 Insurance Cost

Tesla is the most demanded electric vehicle(EV) in the market and dominates this segment. There are competitors like RivianGeneral Motors, Ford Motors, Polestar, Hyundai Kona, and others who have entered the EV market but still, what Tesla is doing, it’s hard to compete.

Owing a Tesla electric vehicle is not easy because of the MSRP, where the lowest-priced car costs $40,000 for the base model. Now the Tesla insurance cost and repair maintenance cost is an add-on to your expenses. Despite receiving 5-star safety ratings by IIHS, the tesla electric vehicle can be expensive to insure. So to give you an idea of what to expect, which tesla car is best suitable for you, compare the tesla car insurance, and check rates for full coverage auto insurance on the lowest-priced Tesla, i.e., Model 3. Get all the information about tesla car prices and then decide.

How Much Does A Tesla Model 3 Insurance Costs In 2022?

The average insurance cost for Tesla Model 3 is $1,602 per year or around $134 per month, depending on the features of the car. Tesla Model 3 is nearly 7.2% higher than the national average cost of car insurance. Other factors are too involved in deciding the tesla car insurance, like your driving history, location, state, insurance company, or broker. Car insurance for tesla model 3 can be more than $1,000 a year compared to the five largest auto insurance companies in the U.S.

Tesla Model 3 Insurance Cost 2022
Tesla Model 3 Insurance Cost 2022

Compare the average car insurance cost on a 2022 Tesla Model 3 using different policy scenarios and driver ages from the table below:

Driver Risk ProfileAnnual RateMonthly Rate
High Risk Driver Age 30$3,604$300
Safe Driver Age 20$3,160$263
At-fault Accidents Age 40$2,232$186
Low Deductibles Age 40$2,138$178
Safe Driver Age 30$1,702$142
Safe Driver Age 40$1,602$134
Safe Driver Age 50$1,456$121
Safe Driver Age 60$1,428$119
Discount Rate Age 40$1,332$111
High Deductibles Age 40$1,324$110

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What Is The Cheapest Tesla Model 3 Insurance Cost In 2022?

The cheapest car insurance for Tesla model 3 is on the standard Range 2WD at around $1,488 per year, and the most expensive Tesla is the Performance AWD at $1,736 per year.

Cheapest Tesla Model 3 Insurance Cost
Cheapest Tesla Model 3 Insurance Cost

Compare the average 2022 Tesla Model 3 Insurance Cost by Trim Level on an annual, 6-months, and monthly basis from the table below:

Tesla Model 3 Trim LevelAnnual Policy6-month PolicyPer Month
Standard Range 2WD$1,488$744$124
Long Range AWD$1,584$792$132
Performance AWD$1,736$868$145

How Much Does The Average Tesla Model 3 Insurance Cost By State?

Compare Tesla Model 3 insurance costs by state and see the cheapest insurance rates, ranging from $2,550 in Michigan to $930 in Ohio per year. By looking at the cheapest rates for Tesla insurance, you can shop around to save money.

Tesla Model 3 Insurance Cost California
Tesla Model 3 Insurance Cost California
U.S. StateAnnual Cost6-month CostMonthly Cost
Alabama$1,302$651$109
Alaska$1,404$702$117
Arizona$1,426$713$119
Arkansas$1,710$855$143
California$1,834$917$153
Colorado$1,706$853$142
Connecticut$1,550$775$129
Delaware$1,626$813$136
Florida$2,340$1,170$195
Georgia$1,548$774$129
Hawaii$1,086$543$91
Idaho$1,264$632$105
Illinois$1,294$647$108
Indiana$1,194$597$100
Iowa$1,158$579$97
Kansas$1,612$806$134
Kentucky$1,860$930$155
Louisiana$2,320$1,160$193
Maine$1,106$553$92
Maryland$1,448$724$121
Massachusetts$1,310$655$109
Michigan$2,550$1,275$213
Minnesota$1,404$702$117
Mississippi$1,514$757$126
Missouri$1,696$848$141
Montana$1,558$779$130
Nebraska$1,528$764$127
Nevada$1,756$878$146
New Hampshire$966$483$81
New Jersey$1,514$757$126
New Mexico$1,282$641$107
New York$1,702$851$142
North Carolina$1,018$509$85
North Dakota$1,330$665$111
Ohio$930$465$78
Oklahoma$1,554$777$130
Oregon$1,338$669$112
Pennsylvania$1,348$674$112
Rhode Island$1,886$943$157
South Carolina$1,476$738$123
South Dakota$1,450$725$121
Tennessee$1,264$632$105
Texas$1,506$753$126
Utah$1,324$662$110
Vermont$1,062$531$89
Virginia$1,032$516$86
Washington$1,216$608$101
West Virginia$1,440$720$120
Wisconsin$1,086$543$91
Wyoming$1,470$735$123

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Compare Car Insurance Rates Of Tesla Model 3 By Year

If you are planning to buy a Tesla car or insurance on tesla model 3, compare the average insurance rates for every trim level for the 2017 to 2021 model year. For the 2022 Tesla Model 3, insurance rates have already been detailed in the above article.

How Much Is Insurance On A 2021 Tesla Model 3?

A 2021 Tesla Model 3 Insurance costs around $1,672 per year or $139 per month, depending on the car’s features. Rates range from $1,522 per year for the Model 3 Standard Range AWD to $1,842 for the Model 3 Performance AWD.

2021 Tesla Model 3 Insurance Cost
2021 Tesla Model 3 Insurance Cost
2021 Tesla Model 3 Trim LevelAnnual RatePer Month
Standard Range AWD$1,522$127
Long Range AWD$1,658$138
Performance AWD$1,842$154

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How Much Is Insurance On A 2020 Tesla Model 3?

A 2020 Tesla Model 3 Insurance costs around $1,640 per year or $137 per month, depending on the car’s features. Rates range from $1,492 per year for the Model 3 Standard Range AWD to $1,804 for the Model 3 Performance AWD.

2020 Tesla Model 3 Insurance Cost
2020 Tesla Model 3 Insurance Cost
2020 Tesla Model 3 Trim LevelAnnual RatePer Month
Standard Range AWD$1,492$124
Long Range AWD$1,624$135
Performance AWD$1,804$150

How Much Is Insurance On A 2019 Tesla Model 3?

A 2019 Tesla Model 3 Insurance cost is around $1,506 per year or $126 per month, depending on the trim level. Rates range from $1,434 per year for the Model 3 Standard Range AWD to $1,562 for the Model 3 Long Range AWD.

2019 Tesla Model 3 Insurance Cost
2019 Tesla Model 3 Insurance Cost
2019 Tesla Model 3 Trim LevelAnnual RatePer Month
Standard Range AWD$1,434$120
Performance AWD$1,532$128
Long Range AWD$1,562$130

How Much Is Insurance On A 2018 Tesla Model 3?

A 2018 Tesla Model 3 Insurance cost is around $1,536 per year or $128 per month, depending on the trim level. Rates range from $1,436 per year for the Model 3 Sedan to $1,694 for the Model 3 Performance AWD.

2018 Tesla Model 3 Insurance Cost
2018 Tesla Model 3 Insurance Cost
2018 Tesla Model 3 Trim LevelAnnual RatePer Month
Sedan$1,448$121
AWD$1,492$124
Performance AWD$1,708$142

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How Much Is Insurance On A 2017 Tesla Model 3?

A 2017 Tesla Model 3 Insurance cost is around $1,330 per year or $111 per month, depending on the trim level. Owning a used 2017 Tesla Model 3 is better if you want to save money on car insurance.

2017 Tesla Model 3 Insurance Cost
2017 Tesla Model 3 Insurance Cost
2017 Tesla Model 3 Trim LevelAnnual RatePer Month
Sedan$1,330$111

Tesla Insurance Intends To Reduce The Cost Of Insurance For Drivers

Tesla has begun providing insurance to consumers in Arizona, Illinois, and Ohio, in addition to Texas and California, as of February 2022. Except in California, where rates are determined mainly by its proprietary “Safety Score,” speeding tickets and other offenses are rarely considered.

Tesla Insurance Services, a new firm founded by Tesla, began selling its insurance coverage in August 2019. In five states, Tesla’s insurance coverage is available solely to Tesla owners:

  • Arizona
  • California*
  • Illinois
  • Ohio
  • Texas

Note: Tesla insurance in California doesn’t offer the same unique features as those available in other states of the U.S.

How Much Does A Tesla Car Costs In 2022?

The higher the price of a car, the more it costs to insure. If you met with an accident or need any repair in a Tesla car, your collision insurance will pay unless it was the other party’s fault. If your Tesla car gets stolen, the insurance company will charge you more for that coverage as it will cost a much higher price to the company to replace it.

Tesla Car Costs MSRP
Tesla Car Costs MSRP

So how much is Tesla Car?

When compared to other electric vehicles or other luxury cars in the market, Tesla cars are expensive. For example:

  • Tesla Model 3. The cheapest Tesla starts at about MSPR of $40,000 for its basic trim, Standard Range Plus. Upgrade to the Long Range Model 3 for about $49,000 or to the Performance Model 3 for just under $57,000.
  • Tesla Model Y. This car costs about MSPR of $52,000 for its base trim.
  • Tesla Model S. The Model S jumps in price with a starting cost of nearly MSPR of $80,000 before add-ons and upgrades.
  • Tesla Model X. This car’s base price starts at nearly MSPR of $90,000, with upgrades costing tens of thousands.

How To Apply For Tesla Car Insurance In 2022?

Let Mount Shine help you; we have a vast network of insurance companies across 50 states that guide you to the best offers, payment options, auto insurance deals, and free credit reports. Check yourself for Tesla Model 3 insurance costs and then buy or renew.

Get free Tesla Model 3 Insurance quotes, buy/renew, and save money on car insurance by contacting us. Hurry EMI starts as low as $134 per month in 2022! We offer free, fast, and simple services, so get started today!

Compare Tesla Car Insurance For Other Models

Compare Tesla car insurance for all models and analyze yourself is a Tesla car model expensive or cheaper to insure. Get the in-depth details for each Tesla model ranging from Tesla Model S, X, and Y along with the age of the driver, deductibles, crash test results, safety features, etc.

Tesla Model S

Tesla Model X

Tesla Model Y

FAQs

Q1. Is tesla insurance cheaper?

Tesla insurance costs tend to be higher than those of Asian premium brands but are equivalent to those of German luxury manufacturers. Your Tesla model and the brand it is compared to will also affect the insurance rates.

Q2. Is tesla insurance expensive for used cars?

No, it is a better option to own a used Tesla than to get a new one. This way you can get insurance for tesla at cheaper rates. Plus you can go with the Tesla Insurance program, also known as InsureMyTesla to check for better deals.

Q3. What is the cost of Tesla Insurance in New York?

The average cost of fully insuring a Tesla vehicle in New York is approximately $1,702 per year and the cheapest insurance rates can go as low as $1,021 per year depending on the trim level.

Q4. What is the cost of Tesla insurance in Illinois?

The average cost to insure a new Tesla is $1,294 per year in 2022.

Q5. How much does tesla model 3 insurance cost in California?

The average Tesla Model 3 insurance cost in California is $1,834 depending on the trim level.

Q6. Which is the best insurance for tesla model 3?

We have a wide network of the best insurance companies across 50 states of the United States that guide you to the best offers, payment options, and auto insurance deals. Contact us to know more about the rates in 2022.

Q7. How much is tesla insurance a month?

Tesla insurance can go as low as $134 per month in 2022.

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