Tesla Model 3 Insurance Cost for 2021

How much does Tesla Model 3 insurance cost? We put the Tesla EV through the paces to find the average cost of insurance and how it ranks against other midsize cars.

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  • Tesla Model 3 insurance costs an average of $1,688 per year or around $141 per month, depending on the trim level.
  • With an insurance cost range of $320, the cheapest Model 3 insurance is on the Standard Range AWD at around $1,538 per year, and the most expensive trim being the Performance AWD at $1,858 annually.
  • The Tesla Model 3 is one of the more expensive midsize cars to insure, costing $140 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 $1,688 yearly, or $141 on a monthly basis. With the average midsize car costing $1,548 a year to insure, the Tesla Model 3 could cost an additional $140 or more annually compared to similar vehicles.

When compared to all vehicles for the 2021 model year (not just the midsize car segment), Tesla Model 3 insurance costs 10.8% more than the national average car insurance rate of $1,523 per year.

The following chart displays average car insurance cost on a 2021 Tesla Model 3 using different policy scenarios and driver ages.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Average rates are for a 2021 model year Tesla Model 3 with safe driver and claim-free discounts applied to qualifying risk profiles. Discount Rate includes all possible rate discounts including multi-vehicle, multi-policy, homeowner, and others. Physical damage deductibles are $500 except for low and high deductible estimates which are $100 and $1,000, respectively. Rates are averaged across all U.S. states and all Tesla Model 3 trim levels.
Tesla Model 3 Insurance Cost Summary
Tesla Model 3 Insurance Cost Summary
Driver Risk Profile Annual Rate Monthly Rate
High Risk Driver Age 30$3,818$318
Safe Driver Age 20$3,346$279
At-fault Accidents Age 40$2,366$197
Low Deductibles Age 40$2,234$186
Safe Driver Age 30$1,788$149
Safe Driver Age 40$1,688$141
Safe Driver Age 50$1,536$128
Safe Driver Age 60$1,510$126
High Deductibles Age 40$1,408$117
Discount Rate Age 40$1,404$117

The insurance cost estimate chart above displays a small handful of average car insurance rates. If we displayed every rate for every possible risk scenario, including every Model 3 trim level and all 41,000+ zip codes in the U.S., the result would be approximately 290,304,000,000 different car insurance rates for the Model 3.

An easier way to get rates custom tailored to you is to simply get a quote. Just answer a few simple questions and choose the best provider from the results.

What is the cheapest Tesla Model 3 insurance?

With car insurance rates ranging from $1,538 to $1,858 per year for an average driver, the cheapest Tesla Model 3 to insure is the Standard Range AWD model. The next cheapest trim level to insure is the Long Range AWD at $1,676 per year.

Plan on budgeting around $128 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 $1,858 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.

2021 Tesla Model 3 Insurance Cost by Trim Level
Tesla Model 3 Trim Level Annual Policy 6-month Policy Per Month
Standard Range AWD$1,538$769$128
Long Range AWD$1,676$838$140
Performance AWD$1,858$929$155

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for a 2021 Tesla Model 3, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium. Physical damage deductibles are $500 and rates are averaged for all U.S. states.
Tesla Model 3 Insurance Cost by Trim Level

Is Tesla Model 3 car insurance expensive?

The Tesla Model 3 ranks #11 out of 13 comparison vehicles in the 2021 midsize car class. The Model 3 costs an estimated $1,688 per year for full coverage insurance, while the class median average cost is $1,548 annually, a difference of $140 per year.

When compared to the most popular models in the midsize car segment, car insurance for a Tesla Model 3 costs $168 more per year than Toyota Camry insurance, $170 more than the cost of Honda Accord insurance, $158 more than Nissan Altima insurance rates, and $276 more than Chevrolet Malibu insurance.

The table below shows how a Tesla Model 3 compares to all the other 2021 model year midsize cars (excluding luxury midsize cars) for car insurance affordability.

Insurance Cost Comparison: Tesla Model 3 vs Midsize Cars
Rank Make/Model Insurance Cost Difference
1Honda Insight$1,380-$308
2Mazda 6$1,408-$280
3Chevrolet Malibu$1,412-$276
4Subaru Legacy$1,500-$188
5Honda Accord$1,518-$170
6Toyota Camry$1,520-$168
7Volkswagen Passat$1,522-$166
8Nissan Altima$1,530-$158
9Kia K5$1,554-$134
10Volkswagen Arteon$1,650-$38
11Tesla Model 3$1,688--
12Hyundai Sonata$1,712$24
13Kia Stinger$1,732$44

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are based on 2021 model year, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium, which is averaged for all vehicle trim levels. Full coverage physical damage deductibles are $500 and rates are averaged for all U.S. states.
Insurance Cost Comparison: Tesla Model 3 vs Midsize Cars

Your location is 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.

Tesla Model 3 Insurance Cost by U.S. State
U.S. State Annual Cost 6-month Cost Monthly Cost
Alabama$1,420$710$118
Alaska$1,328$664$111
Arizona$1,528$764$127
Arkansas$1,624$812$135
California$1,872$936$156
Colorado$1,808$904$151
Connecticut$1,848$924$154
Delaware$1,832$916$153
Florida$2,282$1,141$190
Georgia$1,744$872$145
Hawaii$1,342$671$112
Idaho$1,128$564$94
Illinois$1,202$601$100
Indiana$1,228$614$102
Iowa$1,118$559$93
Kansas$1,468$734$122
Kentucky$1,912$956$159
Louisiana$2,500$1,250$208
Maine$1,070$535$89
Maryland$1,560$780$130
Massachusetts$1,420$710$118
Michigan$3,032$1,516$253
Minnesota$1,500$750$125
Mississippi$1,504$752$125
Missouri$1,482$741$124
Montana$1,552$776$129
Nebraska$1,334$667$111
Nevada$1,894$947$158
New Hampshire$1,226$613$102
New Jersey$1,640$820$137
New Mexico$1,462$731$122
New York$1,876$938$156
North Carolina$1,152$576$96
North Dakota$1,300$650$108
Ohio$1,138$569$95
Oklahoma$1,820$910$152
Oregon$1,494$747$125
Pennsylvania$1,490$745$124
Rhode Island$2,014$1,007$168
South Carolina$1,568$784$131
South Dakota$1,398$699$117
Tennessee$1,398$699$117
Texas$1,640$820$137
Utah$1,384$692$115
Vermont$1,174$587$98
Virginia$1,088$544$91
Washington$1,330$665$111
West Virginia$1,502$751$125
Wisconsin$1,234$617$103
Wyoming$1,504$752$125

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for a 2021 Tesla Model 3, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium, which is averaged for all Tesla Model 3 trim levels. Physical damage deductibles are $500 and rates are averaged for all zip codes in each state.
Tesla Model 3 insurance cost by U.S. state

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 2020 model years. Rates for the 2021 model are detailed in the above article.

How much does 2020 Tesla Model 3 insurance cost?

Average auto insurance rates for a 2020 Tesla Model 3 are $1,646 per year, or around $137 per month. Rates range from $1,496 per year for the Model 3 Standard Range AWD to $1,810 for the Model 3 Performance AWD.

2020 Tesla Model 3 Insurance Cost by Trim Level
2020 Tesla Model 3 Trim Level Annual Rate Per Month
Standard Range AWD$1,496$125
Long Range AWD$1,630$136
Performance AWD$1,810$151

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for a 2020 Tesla Model 3, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium. Physical damage deductibles are $500 and rates are averaged for all U.S. states.
2020 Tesla Model 3 Insurance Cost by Trim Level

What does a 2019 Model 3 cost to insure?

Car insurance rates for a 2019 Tesla Model 3 average $1,502 per year, or about $125 per month. Rates range from $1,428 per year for the Model 3 Standard Range AWD to $1,558 for the Model 3 Long Range AWD.

2019 Tesla Model 3 Insurance Cost by Trim Level
2019 Tesla Model 3 Trim Level Annual Rate Per Month
Standard Range AWD$1,428$119
Performance AWD$1,526$127
Long Range AWD$1,558$130

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for a 2019 Tesla Model 3, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium. Physical damage deductibles are $500 and rates are averaged for all U.S. states.
2019 Tesla Model 3 Insurance Cost by Trim Level

How much does 2018 Model 3 car insurance cost?

2018 Tesla Model 3 insurance rates average $1,564 per year, or around $130 per month. Cost ranges from $1,462 per year for the Model 3 Sedan to $1,728 for the Model 3 Performance AWD.

2018 Tesla Model 3 Insurance Cost by Trim Level
2018 Tesla Model 3 Trim Level Annual Rate Per Month
Sedan$1,462$122
AWD$1,504$125
Performance AWD$1,728$144

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for a 2018 Tesla Model 3, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium. Physical damage deductibles are $500 and rates are averaged for all U.S. states.
2018 Tesla Model 3 Insurance Cost by Trim Level

How much are 2017 Tesla Model 3 insurance rates?

A 2017 Tesla Model 3 averages $1,342 per year for full coverage insurance, or around $112 per month.

2017 Tesla Model 3 Insurance Cost by Trim Level
2017 Tesla Model 3 Trim Level Annual Rate Per Month
Sedan$1,342$112

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for a 2017 Tesla Model 3, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium. Physical damage deductibles are $500 and rates are averaged for all U.S. states.
2017 Tesla Model 3 Insurance Cost by Trim Level