2023 Best Insurance For Tesla Model 3: Per Month Costs & Cheapest Providers

As of my last update in September 2023, I can provide you with some general information about insuring a Tesla Model 3 and some factors to consider when looking for insurance coverage. However, please note that specific prices and providers can vary based on factors like location, driving history, coverage preferences, and changes that may have occurred after my last update.

Insuring a Tesla Model 3:

Insuring a Tesla Model 3, like any other vehicle, involves various factors that contribute to the cost of insurance. These factors include:

1. Coverage Options: Different insurance coverage levels are available, such as liability, comprehensive, collision, uninsured/underinsured motorist, and more. The level of coverage you choose will impact your insurance costs.
2. Location: Insurance rates can vary significantly based on where you live. Areas with higher population density or higher rates of accidents and theft may have higher insurance premiums.
3. Driving History: Your driving record plays a role in determining your insurance rates. A clean driving record with no accidents or violations generally leads to lower premiums.
4. Deductibles: The deductible is the amount you’re responsible for paying out of pocket before your insurance coverage kicks in. A higher deductible typically results in lower monthly premiums.
5. Credit History: Some insurers consider credit history as a factor in determining insurance rates.
6. Safety Features: The Tesla Model 3’s advanced safety features and autonomous driving capabilities may qualify you for discounts with certain insurance providers.

Cheapest Insurance Providers:

Finding the “cheapest” insurance provider can be subjective, as it depends on individual circumstances. Different insurance companies offer varying rates based on the factors mentioned above. To find the best insurance for your Tesla Model 3, consider getting quotes from multiple insurance providers and comparing their coverage options and rates.

Commonly known insurance providers that offer coverage for electric and luxury vehicles like the Tesla Model 3 include:

1. Geico
2. Progressive
3. State Farm
4. Allstate
5. Farmers
6. AAA

Per Month Costs:

It’s challenging to provide accurate per month cost estimates without specific information about your location, driving history, coverage preferences, and other factors. On average, however, insurance costs for a Tesla Model 3 can be higher than for conventional vehicles due to the car’s value and potentially higher repair costs.

To get an accurate estimate, I recommend reaching out to insurance providers directly or using online insurance comparison tools. This will allow you to input your specific details and receive personalized quotes based on your circumstances.

Remember that while it’s important to find affordable insurance, it’s equally crucial to ensure that you have adequate coverage to protect yourself, your vehicle, and others on the road.