Tesla Model 3 Car Insurance Rates

Auto coverage for the year 2021 Tesla Model 3 has a yearly cost of $2,921.64 — or $243.37 per month. Your exact rates, on the other hand, will depend on your driving record, car model, and location.

How do I compare insurance for the Tesla Model 3?

Tesla Model 3 Car Insurance Rates - Tesla Logo

Consider the following considerations while looking for an insurer:

  • Price. Take these things into account when you search for an insurer:
  • The addition of further information. Depending on your state, you may want to consider getting additional coverage for your Tesla beyond what’s legally needed. Teslas tend to have greater repair expenses, so collision insurance may be a good idea. And if you live in an area where crime is rampant or where there are risks of storms or rock falls, you should consider getting comprehensive coverage.
  • Extras. If you want additional insurance benefits like accident forgiveness or disappearing deductibles, look for a provider that provides these.
  • Restrictions. Providers each have their own set of limitations. Preparation is key. Do your homework on these people now to avoid problems later. Even if it’s the entry-level model, not all car insurance policies will cover a Tesla.
  • Customer loyalty discounts or product promotions offered by the manufacturer. Due to its well-known showroom and referral discounts (which increase with each qualifying referral), Tesla is a household name.
  • Warranty. To ensure customer satisfaction, Tesla offers a new car limited warranty covering the Model 3 for four years or 50,000 miles, whichever comes first. Vehicles equipped with the normal battery are covered by a warranty of eight years or 100,000 miles. Vehicles equipped with the extended range battery are covered by a guarantee of eight years or 120,000 miles. The warranty covers basic towing to the nearest Tesla service facility up to 500 miles for warranty-covered components and up to 50 miles for flat tires.

Driver factors

As well as the motorist, service providers have concerns. When determining your premium, they look at your driving record, taking into account any violations, accidents, and claims. Reduced premiums may be available to those with good driving records or who haven’t had any major violations in the last three to five years. It is also important to keep in mind that insurance companies will look at your credit history as well as where you live and who else will be driving the car.

Does the Tesla Model 3 qualify for discounts?

Discounts on the Model 3 will vary depending on the provider. Savings like this can balance the high cost of electric car insurance while also ensuring you get the best offer. Inquire about the applicability of these safety savings when completing your research.

  • New car discount
  • Anti-theft discount
  • Anti-lock brake discount

Reliability and safety ratings for the Tesla Model 3

TThe Model 3 has not undergone any crash testing by the National Highway Traffic Safety Administration. A number of tests have been carried out by the Insurance Institute for Highway Safety (IIHS). Front collision prevention was given a good score, while the headlights got an A+.

Tesla Model 3 received a 9-out-of-10 rating from US News and World Report, putting it fourth in the luxury small car category. A range of safety and style factors are considered in determining this grade. Too far, there haven’t been any Model 3 recalls as of July 2018.

The Model 3 is an engineering wonder. Driving 15,000 miles a year on city streets and interstates can cost up to $500 a year in car charging fees. Consider this: a 25-mile trip costs only 84 cents per mile. For every dollar you spend on a new automobile over the course of five years, the US Department of Energy says you may save up to $5,250 by switching to a used one. If all goes according to plan, the base Model 3 has a range of about 220 miles. The range increases to 310 miles when using the long-range battery.

Is roadside assistance included in my Tesla Model 3’s warranty?

Yes. Tesla provides 24-hour roadside support for the first four years or 50,000 miles on new vehicles covered by the limited warranty.

Can I get my Model 3 repaired anywhere?

No. So, your best bet is to seek a Tesla-authorized body shop in your neighborhood. In order to meet Tesla’s high repair standards, the Tesla Body Repair Program team works closely with these companies.

What is Insuring My Tesla?

Tesla-specific vehicle insurance is available through Insure My Tesla. According to reports, it will be on sale later this year in all 50 states through Liberty Mutual Insurance. When you buy your Tesla, it will be covered by Liberty Mutual‘s comprehensive insurance.

Bottom line

Premium sports car and electric vehicle aren’t the most inexpensive ways to describe the Tesla Model 3. Insurance is more expensive, but safety features and defensive driving can get you discounts. BMW‘s warranty and servicing program also goes above and beyond what’s expected in the industry.

For another car insurance review, visit our review of BMW M3 Car Insurance Rates.