Tesla Model 3 Insurance Cost for 2022

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 $1,602 per year or around $134 per month, depending on the trim level.
  • With an insurance cost range of $248, the cheapest Model 3 insurance is on the Standard Range 2WD at around $1,488 per year, and the most expensive trim being the Performance AWD at $1,736 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 $1,602 yearly, or $134 on a monthly basis. With the average midsize car costing $1,589 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 2.2% more than the national average car insurance rate of $1,567 per year.

The following chart displays average car insurance cost on a 2022 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 2022 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.Data last updated on September 13, 2022
Tesla Model 3 Insurance Cost Summary
Tesla Model 3 Insurance Cost Summary
Driver Risk Profile Annual Rate Monthly Rate
High Risk Driver Age 30$3,604$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

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 $1,488 to $1,736 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 $1,584 per year.

Plan on budgeting around $124 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 $1,736 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.

2022 Tesla Model 3 Insurance Cost by Trim Level
Tesla Model 3 Trim Level Annual Policy 6-month Policy Per Month
Standard Range 2WD$1,488$744$124
Long Range AWD$1,584$792$132
Performance AWD$1,736$868$145

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for a 2022 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.Data last updated on September 13, 2022
Tesla Model 3 Insurance Cost by Trim Level

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 $1,602 per year for full coverage insurance, while the class median average cost is $1,589 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 $100 more per year than Toyota Camry insurance, $14 more than the cost of Honda Accord insurance, $104 less than Nissan Altima insurance rates, and $18 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.

Insurance Cost Comparison: Tesla Model 3 vs Midsize Cars
Rank Make/Model Insurance Cost Difference
1Subaru Legacy$1,480-$122
2Honda Insight$1,482-$120
3Kia K5$1,498-$104
4Toyota Camry$1,502-$100
5Volkswagen Passat$1,508-$94
6Mazda 6$1,518-$84
7Chevrolet Malibu$1,584-$18
8Honda Accord$1,588-$14
9Tesla Model 3$1,602--
10Volkswagen Arteon$1,660$58
11Nissan Altima$1,706$104
12Hyundai Sonata$1,736$134
13Kia Stinger$1,798$196

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are based on 2022 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.Data last updated on September 13, 2022
Insurance Cost Comparison: Tesla Model 3 vs Midsize Cars

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 $196 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 $14 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.

Tesla Model 3 Insurance Cost by U.S. State
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$1,706$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

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for a 2022 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.Data last updated on September 13, 2022
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 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 $1,672 per year, or around $139 per month. 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 by Trim Level
2021 Tesla Model 3 Trim Level Annual Rate Per Month
Standard Range AWD$1,522$127
Long Range AWD$1,658$138
Performance AWD$1,842$154

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.Data last updated on September 13, 2022
2021 Tesla Model 3 Insurance Cost by Trim Level

How much does 2020 Tesla Model 3 insurance cost?

Average auto insurance rates for a 2020 Tesla Model 3 are $1,640 per year, or around $137 per month. 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 by Trim Level
2020 Tesla Model 3 Trim Level Annual Rate Per Month
Standard Range AWD$1,492$124
Long Range AWD$1,624$135
Performance AWD$1,804$150

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.Data last updated on September 13, 2022
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 $1,506 per year, or about $126 per month. 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 by Trim Level
2019 Tesla Model 3 Trim Level Annual Rate Per Month
Standard Range AWD$1,434$120
Performance AWD$1,532$128
Long Range AWD$1,562$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.Data last updated on September 13, 2022
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 $1,550 per year, or around $129 per month. Cost ranges from $1,448 per year for the Model 3 Sedan to $1,708 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$1,448$121
AWD$1,492$124
Performance AWD$1,708$142

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.Data last updated on September 13, 2022
2018 Tesla Model 3 Insurance Cost by Trim Level

How much are 2017 Tesla Model 3 insurance rates?

A 2017 Tesla Model 3 averages $1,330 per year for full coverage insurance, or around $111 per month.

2017 Tesla Model 3 Insurance Cost by Trim Level
2017 Tesla Model 3 Trim Level Annual Rate Per Month
Sedan$1,330$111

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.Data last updated on September 13, 2022
2017 Tesla Model 3 Insurance Cost by Trim Level