2020 Tesla Model 3 Car Insurance Calculator

Learn how changing risk factors influence insurance rates for a 2020 Tesla Model 3. Update factors like your location, homeowner status, and credit score to get insights on how rates change. Immediately see if the change you make results in cheaper or more expensive car insurance.

The average estimated car insurance premium for a 2020 Tesla Model 3 is $2,288 per year, or about $191 per month. This is based on a 40-year-old male driver with no prior driving violations or at-fault accidents. Comprehensive and collision deductibles are $500 and Uninsured and Underinsured Motorist (UM/UIM) coverage is included.

Annual Premium

$2,288

Cost Per Month

$191

The Annual Premium and Cost Per Month change instantly as you adjust calculator options.

If you change a factor that results in a higher insurance cost, the rates turn red. If you adjust a factor that saves money, the rates turn green. For a detailed explanation of each rate change, click the blue button above.

Quick Guide to Using the Insurance Rate Calculator

  1. Update Options: Adjust any settings in the form below.
  2. Observe Rate Changes: Watch how the Annual Premium at the bottom of the page changes.
  3. Get Detailed Insights: Click the blue up arrow button for an explanation of the rate change.

Key Features:

Tesla Model 3 Options

Driver Options

Insurability Factors

Policy Coverages

Calculated vs. Average Rate

Discover how your personalized car insurance rate compares to the average annual premium for a 2020 Tesla Model 3.

As you adjust the calculator settings, the 'Your Rate' value dynamically shifts left or right on the rate range bar. This movement visually demonstrates how your rate compares to the typical insurance cost for this vehicle model.

For continuous comparison while you explore different settings, you have the option to pin this rate range bar to the bottom of your screen.

$2,288
Average Rate
Your Rate
$2,288

The 'Average Rate' is calculated based on default options for a typical driver profile: a 40-year-old married male with good credit, no prior accidents or violations, current car insurance coverage, and homeownership. The coverage includes collision and comprehensive coverage with $500 deductibles, liability limits of 100/300/100, and includes Uninsured/Underinsured Motorist and Medical Payments coverages.

The 'Average Rate' is a combined value for all 2020 Tesla Model 3 trim levels.

Insurance Rate Analysis

Your personalized insurance analysis will appear below after modifying any options in the calculator settings above.

Based on the default settings in the calculator options, the annual premium for a 2020 Tesla Model 3 is $2,288.

After making any changes in the calculator settings, this section will explain the choices that have a positive effect on either rates or coverage, as well as those that have a negative effect.

Factors That Favorably Influence Your Rates and Coverage

There are many things that have a positive effect on your rates, like being a mature driver, being married, having great credit, owning your home, and more.

Once you've fine-tuned the settings in our calculator, this section will provide an analysis of all the factors that have contributed to reducing your rates or improving your coverage options.

Factors That Could Increase Rates or Result in Coverage Gaps

Certain circumstances may lead to higher insurance rates or potential gaps in your coverage. These include life events such as being involved in at-fault accidents, incurring driving violations, experiencing lapses in coverage, or simply being a younger driver. While not all of these factors are within your control, many can be managed to mitigate their impact.

As you adjust the settings in our calculator, this section will detail and explain all the factors that have contributed to higher rates or reduced levels of coverage.

2020 Tesla Model 3 vs. the Midsize Car Segment

The table below compares insurance rates for the 2020 Tesla Model 3 against all other models in the midsize car segment. The Tesla Model 3 is highlighted in light orange, and the segment's average insurance rate is in light blue.

Annual Premium values in the table are based on the current selections in the rate calculator settings.

The Difference column indicates the annual premium variance between each model shown and the Tesla Model 3, with green values denoting cheaper rates and red values indicating more expensive rates compared to the Tesla Model 3.

After choosing a vehicle trim level in the calculator options, the rates shown will reflect your choice.

2020 Tesla Model 3 Segment Insurance Cost Comparison
Rank Make and Model Annual Premium Difference
1Buick Regal$1,876-$412
2Honda Insight$1,890-$398
3Mazda 6$1,908-$380
4Chevrolet Malibu$1,938-$350
5Toyota Camry$2,050-$238
6Subaru Legacy$2,062-$226
7Volkswagen Passat$2,070-$218
8Honda Accord$2,076-$212
9Nissan Altima$2,082-$206
2020 Midsize Car Average$2,101-$187
10Kia Optima$2,144-$144
11Ford Fusion$2,202-$86
12Volkswagen Arteon$2,242-$46
13Tesla Model 3$2,288--
14Hyundai Sonata$2,334$46
15Kia Stinger$2,354$66

Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Comprehensive and collision deductibles are $500 and UM/UIM and medical payments coverages are included. Premiums are averaged for all trim levels for each model.

2020 Model 3 Insurance Rates by Trim Level

The table below shows insurance rates for all trim levels available for the 2020 Tesla Model 3.

Annual Premium and Cost Per Month values show in the table are based on the current selections in the rate calculator settings. After setting the trim level option in the calculator settings, it will be highlighted in the table.

2020 Tesla Model 3 Insurance Rates by Trim Level
2020 Tesla Model 3 Trim Level Annual Premium Cost Per Month
Standard Range AWD$2,082$174
Long Range AWD$2,268$189
Performance AWD$2,520$210

Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Comprehensive and collision deductibles are $500 and UM/UIM and medical payments coverages are included.

Insurance Rates by Driver Age

The table below shows average car insurance rates for the 2020 Tesla Model 3 for different driver ages.

2020 Tesla Model 3 Insurance Cost for Drivers Aged 16 to 80
Driver Age Annual Premium Cost Per Month
16$8,088$674
17$7,855$655
18$7,076$590
19$6,430$536
20$4,935$411
21$4,710$393
22$4,226$352
23$3,458$288
24$3,277$273
25$2,662$222
30$2,446$204
35$2,350$196
40$2,288$191
45$2,140$178
50$2,024$169
55$1,892$158
60$1,898$158
65$2,018$168
70$2,172$181
75$2,548$212
80$3,136$261

Data Methodology: Rated driver is male and has no driving violations or at-fault accidents in the prior three years. Comprehensive and collision deductibles are $500. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Drivers under the age of 25 are considered single, while drivers 25 and over are rated as married. Annual premium is averaged for all Tesla Model 3 trim levels.