Tesla Model 3 Insurance Cost

Tesla Model 3 insurance costs change based on model year, with 2025 models averaging $284 monthly compared to $79 for older versions. Newer vehicles cost more to insure because they have higher market values.

Looking for another Tesla model? Read more about the cost of Tesla car insurance models.

Model year and insurer both affect what you pay. Minimum coverage for the Model 3 costs $89 a month with GEICO and $172 with Farmers. Full coverage costs $169 with Travelers and $348 with AIG.

Minimum coverage rates vary by more than $83 across insurers and full coverage by more than $179. Each company prices Model 3 risk differently, so the same driver can get a very different quote depending on where they look.

The Tesla Model 3 ranks 131st out of 199 sedans for insurance affordability in MoneyGeek's analysis. 130 sedans cost less to insure, putting it a few dollars a month above the Cadillac XTS and just below the Lexus IS.

Sedans are expensive to insure across the board. The Model 3's 555th-place ranking out of 827 total vehicles puts it in the pricier two-thirds of all cars. The Saturn S-Series is the cheapest sedan to insure and the Cadillac CTS-V carries the highest premiums in the category.

Several factors affect what you'll pay for Tesla Model 3 insurance.

• Average Repair or Replacement Costs: At $825 a year, the Model 3 has the lowest repair costs among Tesla's six models.
• Vehicle Trim, Features and Accessories: Output ranges from 283 to 450 horsepower depending on trim. Performance and Plaid variants cost more to insure because of their higher power output and the elevated repair and risk exposure that comes with it.
• Driver Profile: Most Model 3 owners are 30 to 45 years old, with a median age of about 36. Higher incomes in that group tend to mean more coverage. The vehicle's performance profile also draws higher-risk driving behavior, which insurers factor into rates.

If you're comparing the Model 3 and Model Y, you've probably already decided on Tesla — you're just weighing sedan versus SUV, and whether the Model Y's extra cargo space and ride height is worth the 31-mile range penalty and slightly higher sticker price.

Once you look at insurance, both 2024 models cost virtually the same to insure — within $2 a month of each other for full coverage. So insurance won't tip the scales here. The choice is really about how you use the car.

The more useful insurance number is for used buyers. A 2017 Model 3 is worth around $14,300 today, but costs $213 a month — or about $2,560 a year — to insure. That means you're spending nearly a fifth of what the car is worth just on insurance every year. 

The 2020 Model Y holds its value better at around $25,200, so the same math works out more favorably. But it's still a number worth running before you buy.

Minimum coverage for the Model 3 costs $42 a month in Wyoming and $205 in Louisiana. That $163 gap comes from each state's risk profile and regulations, not the vehicle.

Full coverage on a 2025 Model 3 costs drivers aged 35 to 55 about $308 a month. A 2017 model costs $217. Drivers in their teens and early twenties pay above both figures regardless of model year.

Nationwide is the cheapest insurer across all model years and could save certain drivers hundreds of dollars per month versus the average rate. Shopping between insurers will give you the opportunity to save on your Tesla Model 3 insurance costs.

• 2025 Tesla Model 3 Insurance Rates
• 2024 Tesla Model 3 Insurance Rates
• 2023 Tesla Model 3 Insurance Rates
• 2022 Tesla Model 3 Insurance Rates
• 2021 Tesla Model 3 Insurance Rates

Insurance costs for your Tesla Model 3 vary by trim, from $284 monthly for full coverage on Performance variants to $79 for minimum coverage on Standard Sedan 4d models. Performance features and market value determine where each trim falls in this range.

The Model 3's trim ladder has one meaningful decision point on insurance: whether you go Performance. 

The Long Range adds $54–82 a month over the base Standard variants — noticeable, but in line with what the upgrade costs across most vehicles in this class. The Performance trim starts at nearly the same rate as the Long Range, but can run $49 higher per month depending on the variant — up to $131 over base, or $1,572 a year. 

For buyers choosing between Long Range and Performance, the insurance difference alone can add close to $600 annually.

We've compiled proven strategies to help you find better Tesla Model 3 insurance rates:

Tesla Model 3 insurance runs above average in cost, but you can still secure decent rates. Compare quotes from multiple insurers and maximize available discounts to find your best pricing.

MoneyGeek analyzed hundreds of millions of quote estimates for U.S. vehicle models from 2000 to 2025 to determine Tesla Model 3 insurance costs.

Who We Based These Rates On

Tesla Model 3 rates in this analysis are based on a 40-year-old unmarried man with:

• No tickets or crashes
• Good credit
• No prior claims
• 12,000 miles driven yearly
• A valid license with no suspension
• Minimum coverage: State-required liability limits
• Full coverage: 100/300/100 liability + comprehensive/collision with $1,000 deductibles