Tesla vehicles are not cheap to buy -- new or used. Of the 25 most popular cars in the U.S., the Tesla Model 3 is the most expensive to insure, on average, in every state except New York, where it comes in second to the Toyota Highlander LE. Collision insurance pays for vehicle damage from most types of crashes, but may not be worthwhile for older cars. There are three main Tesla Insurance program cons: If you're looking to save on your Tesla insurance cost, there are a few things you can do to drop your premiums. If you want to know how much is Tesla insurance then you’ll have to work directly with Tesla … That means it is less likely your claim will exceed your limits. Or are we picking just age 40 and like three models? Don’t wait until after you’ve already purchased the vehicle to check insurance rates, or you may find that the cost of the car and insurance is beyond your budget,” Gusner advises. Musk has said Tesla Insurance costs should be about 20% lower than average and that the program will continue to roll out “anywhere insurance prices are high.”, » MORE: Minimum car insurance requirements by state. Tesla Model 3 Insurance Cost. These are sample rates generated through Quadrant Information Services. The average monthly premium was $220 for the Model 3, $272 for the Model … Maine has the lowest average cost to insure a Tesla Model 3, coming in at $1,245 annually. The Long Range Model 3 will cost you just over $45,000. Higher limits are always smart to carry as it gives you more protection, ideally you want 100/300/100, rather than what states require to drive legally, which is generally around 25/50/25. For starters, a Model 3 battery costs thousands of dollars to replace. It's also one of the safest cars -- a dozen airbags, camera sensors on the bumpers and safety tech all make Teslas, according to the company, "the safest cars in the world.". Be sure to get quotes from at least three insurance companies. on the lowest-priced Tesla, the Model 3. Tesla claims to save you as much as 30% on your Tesla auto insurance. is going to pay unless it was totally someone else’s fault. USAA home insurance is available for eligible military, veterans, and their families in all 50 states. Tesla Insurance offers … The average monthly premium for Tesla insurance with other carriers is $211 per month. Tesla says it understands how drivers use its cars and takes all of the cars’ safety features and crash avoidance systems into account when pricing insurance. That’s because the state and city you live in plays a role in what you pay for insurance. Based on the safety ratings and quality of these vehicles, you'd think Tesla car insurance would be cheap. Average auto insurance premium: $211/month; Most affordable insurance company: American Family ($144/month) Model S insurance premium vs. average vehicle insurance premium: $82 less expensive than the average vehicle; Explore the data on this page to see Tesla Model S car insurance … Considering that safety record, you might be surprised to know that insuring them can often cost much more than the same coverage for other popular cars. The extra labor and larger pieces to repair can again raise the price of insurance because the companies know the cost of repairs is high. Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc.: Licenses, NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer AccessLicenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, We want to hear from you and encourage a lively discussion among our users. 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