- Tesla Model 3 insurance costs an average of $2,818 per year for the 2024 model or around $235 per month, depending on the trim level.
- With an insurance cost range of $314, the cheapest Model 3 insurance is on the Standard Range 2WD at around $2,650 per year, and the most expensive trim being the Performance AWD at $2,964 annually.
- The Tesla Model 3 is one of the more expensive midsize cars to insure, costing $371 more per year on average as compared to the rest of the vehicles in the segment.
How much does Tesla Model 3 insurance cost?
Tesla Model 3 car insurance costs around $2,818 yearly, or $235 on a monthly basis. With the average midsize car costing $2,447 a year to insure, the Tesla Model 3 could cost an additional $371 or more annually compared to similar vehicles.
When compared to all vehicles for the 2024 model year (not just the midsize car segment), Tesla Model 3 insurance costs 21.3% more than the national average car insurance rate of $2,276 per year.
The following graphic displays average car insurance cost on a 2024 Tesla Model 3 using different policy scenarios and driver ages.
What is the cheapest Tesla Model 3 insurance?
With car insurance rates ranging from $2,650 to $2,964 per year for an average driver, the cheapest Tesla Model 3 to insure is the Standard Range 2WD model. The next cheapest trim level to insure is the Long Range AWD at $2,842 per year.
Plan on budgeting around $221 per month for a policy with full coverage. Where you live, your age, the chosen policy limits, and your driving record have a big impact on this number, however.
As with most vehicles, the higher the cost the higher the insurance rates. It’s no different with the Model 3, as the most expensive insurance rates are on the Performance AWD at around $2,964 per year.
The table below shows the average annual and semi-annual auto insurance cost, in addition to a monthly budget amount, for each Tesla Model 3 package and trim.
| 2024 Tesla Model 3 Trim Level | Annual Premium | Cost Per Month |
|---|---|---|
| Standard Range 2WD | $2,650 | $221 |
| Long Range AWD | $2,842 | $237 |
| Performance AWD | $2,964 | $247 |
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. Updated October 24, 2025
Is Tesla Model 3 car insurance expensive?
The Tesla Model 3 ranks 11th out of 11 comparison vehicles in the 2024 midsize car class. The Model 3 costs an estimated $2,818 per year for full coverage insurance, while the class median average cost is $2,447 annually, a difference of $371 per year.
When compared to the most popular models in the midsize car segment, car insurance for a Tesla Model 3 costs $240 more per year than Toyota Camry insurance, $502 more than the cost of Honda Accord insurance, $220 more than Nissan Altima insurance rates, and $492 more than Chevrolet Malibu insurance.
The table below shows how a Tesla Model 3 compares to all the other 2024 model year midsize cars (excluding luxury midsize cars) for car insurance affordability.
| Rank | Make and Model | Annual Premium | Difference |
|---|---|---|---|
| 1 | Kia K5 | $2,312 | -$506 |
| 2 | Honda Accord | $2,316 | -$502 |
| 3 | Chevrolet Malibu | $2,326 | -$492 |
| 4 | Volkswagen Arteon | $2,358 | -$460 |
| 5 | Subaru Legacy | $2,368 | -$450 |
| 6 | Hyundai Ioniq 6 | $2,386 | -$432 |
| 7 | Toyota Crown | $2,428 | -$390 |
| 8 | Hyundai Sonata | $2,432 | -$386 |
| 9 | Toyota Camry | $2,578 | -$240 |
| 10 | Nissan Altima | $2,598 | -$220 |
| 11 | Tesla Model 3 | $2,818 | -- |
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 vehicle from the 2024 model year. Updated October 24, 2025
With an average MSRP of $45,027, the cost to purchase a 2024 Tesla Model 3 ranges from $35,590 to $55,000, before delivery charges and documentation fees.
The vehicles in the midsize car segment that have the most similar average MSRP to the Tesla Model 3 for the 2024 model year are the Hyundai Ioniq 6, Toyota Crown, Volkswagen Arteon, and Honda Accord. The list below shows how they compare to a Model 3 for MSRP and average full-coverage insurance cost.
- Compared to the Hyundai Ioniq 6 – Having an average MSRP of $45,760 ($42,450 to $51,265), the Hyundai Ioniq 6 costs $733 more than the Tesla Model 3. Expect to pay approximately $432 less every 12 months to insure the Hyundai Ioniq 6 compared to a Model 3.
- Compared to the Toyota Crown – With an average dealer MSRP of $46,257 and ranging from $40,050 to $53,070, the 2024 Toyota Crown costs $1,230 more than the average cost for the Tesla Model 3. Expect to pay around $390 less per year to insure the Toyota Crown compared to a Model 3.
- Compared to the Volkswagen Arteon – For a new model, the sticker price on the Volkswagen Arteon averages $5,723 more than the average sticker price for the Tesla Model 3 ($50,750 compared to $45,027). Expect to pay an average of $460 less each year to insure the Volkswagen Arteon compared to a Model 3.
- Compared to the Honda Accord – The Honda Accord has an average sticker price of $32,934 ($27,895 to $38,540), which is $12,093 cheaper than the average MSRP for the Tesla Model 3. The cost to insure a Tesla Model 3 compared to the Honda Accord is $502 more each year on average.
Your location has a significant impact on the cost of Model 3 insurance. What may be considered cheap in some states may be rather expensive in others. The table below shows the average cost to insure a Tesla Model 3 in all 50 U.S. states.
| U.S. State | Annual Premium | Cost Per Month |
|---|---|---|
| Alabama | $2,754 | $230 |
| Alaska | $2,462 | $205 |
| Arizona | $2,786 | $232 |
| Arkansas | $3,052 | $254 |
| California | $3,386 | $282 |
| Colorado | $3,106 | $259 |
| Connecticut | $3,190 | $266 |
| Delaware | $3,240 | $270 |
| Florida | $3,278 | $273 |
| Georgia | $3,002 | $250 |
| Hawaii | $2,306 | $192 |
| Idaho | $2,370 | $198 |
| Illinois | $2,706 | $226 |
| Indiana | $2,440 | $203 |
| Iowa | $2,280 | $190 |
| Kansas | $2,926 | $244 |
| Kentucky | $3,102 | $259 |
| Louisiana | $3,164 | $264 |
| Maine | $2,146 | $179 |
| Maryland | $2,812 | $234 |
| Massachusetts | $3,140 | $262 |
| Michigan | $3,392 | $283 |
| Minnesota | $2,668 | $222 |
| Mississippi | $2,908 | $242 |
| Missouri | $3,220 | $268 |
| Montana | $2,788 | $232 |
| Nebraska | $2,620 | $218 |
| Nevada | $3,360 | $280 |
| New Hampshire | $2,282 | $190 |
| New Jersey | $3,392 | $283 |
| New Mexico | $2,594 | $216 |
| New York | $3,282 | $274 |
| North Carolina | $2,190 | $183 |
| North Dakota | $2,608 | $217 |
| Ohio | $2,340 | $195 |
| Oklahoma | $3,168 | $264 |
| Oregon | $2,822 | $235 |
| Pennsylvania | $2,876 | $240 |
| Rhode Island | $3,448 | $287 |
| South Carolina | $2,628 | $219 |
| South Dakota | $3,014 | $251 |
| Tennessee | $2,860 | $238 |
| Texas | $2,812 | $234 |
| Utah | $2,706 | $226 |
| Vermont | $2,400 | $200 |
| Virginia | $2,272 | $189 |
| Washington | $2,758 | $230 |
| West Virginia | $2,736 | $228 |
| Wisconsin | $2,374 | $198 |
| Wyoming | $2,730 | $228 |
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. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Updated October 24, 2025
Tesla Model 3 prior model year insurance rates
The following sections detail average Tesla Model 3 car insurance rates for every trim level for the 2017 to 2022 model years. Rates for the 2024 model are detailed in the above article.
Average rates for the 2022 model year
Average insurance rates for a 2022 Tesla Model 3 are $2,300 per year, or around $192 per month. Rates range from $2,138 per year for the Model 3 Standard Range 2WD to $2,490 for the Model 3 Performance AWD.
| 2022 Tesla Model 3 Trim Level | Annual Premium | Cost Per Month |
|---|---|---|
| Standard Range 2WD | $2,138 | $178 |
| Long Range AWD | $2,272 | $189 |
| Performance AWD | $2,490 | $208 |
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. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Updated October 24, 2025
Average rates for the 2021 model year
Average auto insurance rates for a 2021 Tesla Model 3 are $2,418 per year, or around $202 per month. Rates range from $2,202 per year for the Model 3 Standard Range AWD to $2,664 for the Model 3 Performance AWD.
| 2021 Tesla Model 3 Trim Level | Annual Premium | Cost Per Month |
|---|---|---|
| Standard Range AWD | $2,202 | $184 |
| Long Range AWD | $2,398 | $200 |
| Performance AWD | $2,664 | $222 |
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. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Updated October 24, 2025
Average rates for the 2020 model year
Average auto insurance rates for a 2020 Tesla Model 3 are $2,344 per year, or around $195 per month. Rates range from $2,132 per year for the Model 3 Standard Range AWD to $2,582 for the Model 3 Performance AWD.
| 2020 Tesla Model 3 Trim Level | Annual Premium | Cost Per Month |
|---|---|---|
| Standard Range AWD | $2,132 | $178 |
| Long Range AWD | $2,322 | $194 |
| Performance AWD | $2,582 | $215 |
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. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Updated October 24, 2025
Average rates for the 2019 model year
Car insurance rates for a 2019 Tesla Model 3 average $2,114 per year, or about $176 per month. Rates range from $2,012 per year for the Model 3 Standard Range AWD to $2,194 for the Model 3 Long Range AWD.
| 2019 Tesla Model 3 Trim Level | Annual Premium | Cost Per Month |
|---|---|---|
| Standard Range AWD | $2,012 | $168 |
| Performance AWD | $2,142 | $179 |
| Long Range AWD | $2,194 | $183 |
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. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Updated October 24, 2025
Average rates for the 2018 model year
2018 Tesla Model 3 insurance rates average $2,132 per year, or around $178 per month. Cost ranges from $1,994 per year for the Model 3 Sedan to $2,352 for the Model 3 Performance AWD.
| 2018 Tesla Model 3 Trim Level | Annual Premium | Cost Per Month |
|---|---|---|
| Sedan | $1,994 | $166 |
| AWD | $2,052 | $171 |
| Performance AWD | $2,352 | $196 |
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. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Updated October 24, 2025
Average rates for the 2017 model year
A 2017 Tesla Model 3 averages $1,808 per year for full coverage insurance, or around $151 per month.
| 2017 Tesla Model 3 Trim Level | Annual Premium | Cost Per Month |
|---|---|---|
| Sedan | $1,808 | $151 |
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. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Updated October 24, 2025
During his career as an independent insurance agent, Ryan Grabenstein was appointed with Progressive, Allstate, Nationwide, Travelers, and many smaller regional and mutual companies. He has a Bachelor's degree in Finance from the University of Nebraska at Lincoln and Certified Insurance Counselor (CIC) personal and commercial lines training.