How much is insurance on a Tesla Model 3?
A 2024 Tesla Model 3 runs about $2,790 a year for a typical 45-year-old, $850 more than an average 2024 car: pricier repairs outweigh slightly fewer at-fault claims.
2024 Tesla Model 3, national average
about $2,790 a year (about $235 a month)
roughly $1,850–$4,050
An average 2024 car: about $1,940. An older Tesla Model 3 costs less (below).
Priced: the 2024 Model 3 Long Range AWD (the newest year our claims data covers), a 45-year-old, clean record, full coverage. Each state moves every car's price by the same share. How we got these.
A used Tesla Model 3, by model year
| Model year | Full coverage | Liability only | Adding a teen | Teen on their own policy |
|---|---|---|---|---|
| 2024 (0–3 years old) | about $2,790 | about $930 | +$1,840 | about $8,000 |
| 2022 (4–7 years old) | about $2,570 | about $930 | +$1,690 | about $7,370 |
| 2018 (8–12 years old) | about $2,310 | about $950 | +$1,530 | about $6,640 |
We list the Tesla Model 3 for 2017–2027. How much a car's age takes off is our own estimate. Years before 2022 use the 2022–24 claims results.
The 5 versions of the 2024 Tesla Model 3 we list (Model 3 Long Range RWD, Model 3 RWD, Model 3 Long Range AWD, Model 3 Long Range AWD-E and Model 3 Performance AWD) all come out within about $50 of each other.
The Tesla Model 3 for other drivers on their own policy, a year: 22–25, $3,630; 26–39, $3,100; 65 and older, $2,930.
Adding a 16-year-old with a Tesla Model 3
A new 16-year-old driving the Tesla Model 3 adds about $1,840 a year ($155 a month), $560 more than with an average 2024 car.
For adding a teen, the Tesla Model 3 ranks 5th most expensive of our 121 car pages.
That's the whole household's bill going up. Cheapest cars to insure for a teen.
Why the Tesla Model 3 costs what it does
Its insurance claims against an average car's (HLDI):
- Repairs
- much higher than average
- Theft and weather
- about average
- Damage to others
- about average
- Injuries to others
- lower than average
The part that fixes or replaces the Tesla Model 3: about $1,860, against $950 for an average 2024 car (95% more). The part that pays for harm to others: about $930, against $990 for an average car (6% less).
By the EPA's size classes it's a midsize car, and it's electric. The Highway Loss Data Institute groups it with midsize luxury cars.
- Expensive and electric cars can cost more or less to insure than their repair records suggest.
Matched to “Tesla Model 3 electric 4dr 4WD” in HLDI's results.
Similar midsize luxury cars
Among these 4 midsize luxury cars, the Tesla Model 3 is the 2nd least expensive to insure.
- 2024 Lexus ESabout $2,250 ($540 less)
- 2024 Tesla Model 3about $2,790 (this car)
- 2024 BMW 330iabout $2,850 (about the same)
- 2024 Mercedes-Benz C-Classabout $3,020 ($230 more)
Both start from your own situation if you've set one. For crash safety, see IIHS and NHTSA ratings.
This is an estimate to help you plan, not a quote. We don't sell insurance, and we never pass your info to anyone. Only an insurer can give you a real price.