- Tesla Model 3 insurance costs an average of $1,590 per year or around $133 per month, depending on the trim level.
- With an insurance cost range of $244, the cheapest Model 3 insurance is on the Standard Range 2WD at around $1,478 per year, and the most expensive trim being the Performance AWD at $1,722 annually.
- The Tesla Model 3 is one of the more expensive midsize cars to insure, costing $13 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 $1,590 yearly, or $133 on a monthly basis. With the average midsize car costing $1,577 a year to insure, the Tesla Model 3 could cost an additional $13 or more annually compared to similar vehicles.
When compared to all vehicles for the 2022 model year (not just the midsize car segment), Tesla Model 3 insurance costs 2.5% more than the national average car insurance rate of $1,551 per year.
The following chart displays average car insurance cost on a 2022 Tesla Model 3 using different policy scenarios and driver ages.
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 $1,478 to $1,722 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 $1,572 per year.
Plan on budgeting around $123 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 $1,722 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.
| Tesla Model 3 Trim Level | Annual Policy | 6-month Policy | Per Month |
|---|---|---|---|
| Standard Range 2WD | $1,478 | $739 | $123 |
| Long Range AWD | $1,572 | $786 | $131 |
| Performance AWD | $1,722 | $861 | $144 |
Is Tesla Model 3 car insurance expensive?
The Tesla Model 3 ranks #9 out of 13 comparison vehicles in the 2022 midsize car class. The Model 3 costs an estimated $1,590 per year for full coverage insurance, while the class median average cost is $1,577 annually, a difference of $13 per year.
When compared to the most popular models in the midsize car segment, car insurance for a Tesla Model 3 costs $102 more per year than Toyota Camry insurance, $10 more than the cost of Honda Accord insurance, $102 less than Nissan Altima insurance rates, and $16 more than Chevrolet Malibu insurance.
The table below shows how a Tesla Model 3 compares to all the other 2022 model year midsize cars (excluding luxury midsize cars) for car insurance affordability.
| Rank | Make/Model | Insurance Cost | Difference |
|---|---|---|---|
| 1 | Subaru Legacy | $1,466 | -$124 |
| 2 | Honda Insight | $1,472 | -$118 |
| 3 | Kia K5 | $1,486 | -$104 |
| 4 | Toyota Camry | $1,488 | -$102 |
| 5 | Volkswagen Passat | $1,494 | -$96 |
| 6 | Mazda 6 | $1,508 | -$82 |
| 7 | Chevrolet Malibu | $1,574 | -$16 |
| 8 | Honda Accord | $1,580 | -$10 |
| 9 | Tesla Model 3 | $1,590 | -- |
| 10 | Volkswagen Arteon | $1,648 | $58 |
| 11 | Nissan Altima | $1,692 | $102 |
| 12 | Hyundai Sonata | $1,724 | $134 |
| 13 | Kia Stinger | $1,784 | $194 |
With an average MSRP of $51,657, the cost to purchase a 2022 Tesla Model 3 ranges from $44,990 to $58,990, 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 2022 model year are the Kia Stinger, Volkswagen Arteon, Honda Accord, and Hyundai Sonata. The list below shows how they compare to a Model 3 for MSRP and average full-coverage insurance cost.
- Compared to the Kia Stinger – Having an average MSRP of $43,890 ($36,290 to $51,490), the Kia Stinger costs $7,767 less than the Tesla Model 3. Expect to pay approximately $194 more every 12 months to insure the Kia Stinger compared to a Model 3.
- Compared to the Volkswagen Arteon – With an average dealer MSRP of $42,245 and ranging from $36,995 to $46,995, the 2022 Volkswagen Arteon costs $9,412 less than the average cost for the Tesla Model 3. Expect to pay around $58 more per year to insure the Volkswagen Arteon compared to a Model 3.
- Compared to the Honda Accord – For a new model, the sticker price on the Honda Accord averages $20,093 less than the average sticker price for the Tesla Model 3 ($31,564 compared to $51,657). Expect to pay an average of $10 less each year to insure the Honda Accord compared to a Model 3.
- Compared to the Hyundai Sonata – The Hyundai Sonata has an average sticker price of $30,667 ($24,350 to $35,400), which is $20,990 cheaper than the average MSRP for the Tesla Model 3. The cost to insure a Tesla Model 3 compared to the Hyundai Sonata is $134 less each year on average.
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.
| U.S. State | Annual Cost | 6-month Cost | Monthly 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 | $1,708 | $854 | $142 |
| Connecticut | $1,550 | $775 | $129 |
| Delaware | $1,624 | $812 | $135 |
| Florida | $2,340 | $1,170 | $195 |
| Georgia | $1,550 | $775 | $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 | $1,610 | $805 | $134 |
| Kentucky | $1,860 | $930 | $155 |
| Louisiana | $2,320 | $1,160 | $193 |
| Maine | $1,106 | $553 | $92 |
| Maryland | $1,448 | $724 | $121 |
| Massachusetts | $1,312 | $656 | $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 | $1,468 | $734 | $122 |
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 2021 model years. Rates for the 2022 model are detailed in the above article.
How much does insurance cost on a 2021 Tesla Model 3?
Average auto insurance rates for a 2021 Tesla Model 3 are $1,662 per year, or around $139 per month. Rates range from $1,510 per year for the Model 3 Standard Range AWD to $1,828 for the Model 3 Performance AWD.
| 2021 Tesla Model 3 Trim Level | Annual Rate | Per Month |
|---|---|---|
| Standard Range AWD | $1,510 | $126 |
| Long Range AWD | $1,644 | $137 |
| Performance AWD | $1,828 | $152 |
How much does 2020 Tesla Model 3 insurance cost?
Average auto insurance rates for a 2020 Tesla Model 3 are $1,628 per year, or around $136 per month. Rates range from $1,480 per year for the Model 3 Standard Range AWD to $1,792 for the Model 3 Performance AWD.
| 2020 Tesla Model 3 Trim Level | Annual Rate | Per Month |
|---|---|---|
| Standard Range AWD | $1,480 | $123 |
| Long Range AWD | $1,610 | $134 |
| Performance AWD | $1,792 | $149 |
What does a 2019 Model 3 cost to insure?
Car insurance rates for a 2019 Tesla Model 3 average $1,498 per year, or about $125 per month. Rates range from $1,424 per year for the Model 3 Standard Range AWD to $1,552 for the Model 3 Long Range AWD.
| 2019 Tesla Model 3 Trim Level | Annual Rate | Per Month |
|---|---|---|
| Standard Range AWD | $1,424 | $119 |
| Performance AWD | $1,520 | $127 |
| Long Range AWD | $1,552 | $129 |
How much does 2018 Model 3 car insurance cost?
2018 Tesla Model 3 insurance rates average $1,536 per year, or around $128 per month. Cost ranges from $1,436 per year for the Model 3 Sedan to $1,694 for the Model 3 Performance AWD.
| 2018 Tesla Model 3 Trim Level | Annual Rate | Per Month |
|---|---|---|
| Sedan | $1,436 | $120 |
| AWD | $1,478 | $123 |
| Performance AWD | $1,694 | $141 |
How much are 2017 Tesla Model 3 insurance rates?
A 2017 Tesla Model 3 averages $1,316 per year for full coverage insurance, or around $110 per month.
| 2017 Tesla Model 3 Trim Level | Annual Rate | Per Month |
|---|---|---|
| Sedan | $1,316 | $110 |
