Tesla Model 3 Insurance costs can vary depending on a few factors. If you want to pay the least, you can opt for the Model Y, which is priced at just $1,040. However, if you want to save money on car insurance, you may want to consider buying the base model. The Model 3 Performance is the most expensive model to insure, with an annual premium of $2,307, according to the Insurance Information Institute.
Model Y is the cheapest Tesla to insure – Tesla Model 3 Insurance Cost
Insurance for a Tesla Model Y is relatively cheap compared to other luxury SUVs. While it is still more expensive than the national average, Tesla Model Y insurance costs are closer to the average for car models of this type. The price above is based on a 40-year-old driver who drives a low-mileage car on a single-car policy. It does not reflect any multi-car discounts. Insurance premiums for car models vary greatly depending on age, the state where you live, and the company you’re with. Additionally, insurance rates can be impacted by recent accidents and traffic violations.
The cheapest Tesla to insure depends on several factors, not the most important of which is the model of the car. If you live in a state that has high insurance premiums, you’ll be able to get a cheaper policy for your Model Y if you live in that state. A good rule of thumb is to keep your car insurance premium low and avoid adding unnecessary features that increase your insurance premium.
As a Tesla driver, you’ll be able to take advantage of discounts from major insurers. Autopilot discounts will reduce your premiums by five to ten percent, while discounts for driving responsibly will lower your premiums by 15 percent. However, be sure to check with your insurance agent about the safety features of your Tesla. The best way to find the best coverage for your Model Y is to get several quotes from different companies. You can also look into bundled policies, which can help you save even more money.
For Ryan, who owns a Model Y, the price has increased by $13,000 in just two years. During that same time, Ryan spent $2,000 on home charging. In addition to being the cheapest Tesla to insure, Ryan has had only minimal repairs and maintenance. Despite the high cost of running the vehicle, Ryan has reported fewer problems with the car than he did with the Model X.
Model 3 Performance costs $2,307
If you’re looking to insure your Model 3 Performance, you’re not alone. The insurance premiums are the highest among all-electric cars. The full Model 3 Performance, priced at $58,000, can reach 60 mph in 3.5 seconds and goes more than 315 miles on a single charge. The base Model 3 costs $26,400, which includes $2,307 for a year’s coverage.
While these auto insurance rates reflect the national average, state-specific rates can vary greatly. To find the best insurance rates for your Model 3 in your state, use MoneyGeek’s insurance rate comparison tool. You can also check your insurance rate by zip code with MoneyGeek. You can also compare prices from multiple insurance providers to see which one gives you the lowest quote. The Zebra is a handy tool for comparing auto insurance costs for new and used cars.
The BMW 740i is another affordable electric vehicle. The BMW 330e plug-in hybrid can go 22 miles on a single charge and costs $2,380 per year to insure. While the cost of insurance for these two vehicles is similar, the Model 3 Performance is significantly cheaper. However, BMW’s M340i is a better choice if you’re looking to insure your luxury electric vehicle.
While a Tesla Model 3 can be expensive to purchase, it can hold its resale value for several years. The Model 3 depreciated only 5.5% during its first year – a far cry from the 20% depreciation seen in most cars. To ensure the maximum resale value of your Model 3, you need full coverage on your car. This includes state-mandated minimum liability insurance, as well as comprehensive and collision coverage.
The cheapest Tesla to insure is the Model Y. At $3,057 per year, the base model costs about 13% less than the average Tesla rate. Its lower price may also be because it’s a compact crossover vehicle, which tends to have lower insurance rates. However, you need to be aware that Model Y is also expensive compared to Model S and Model X.
Depending on the model and the year, insurance for the Model 3 can be as high as $1,590 a year, which means that a premium for full coverage is about $133 a month. In the meantime, the Model 3 Performance is expensive, with a $1,722 yearly premium. If you are looking for the cheapest Tesla Model 3 insurance, consider the Standard Range 2WD.
Model 3 Performance is the most expensive to insure
Insurers typically base the price of insuring a Tesla Model 3 on the national average. However, certain variables in each state can affect rates. Tesla’s location is one of these. Here are some of the factors that could affect your insurance premium. If you live in California, you may pay more than a Model 3 does in California. And if you live in Nevada, you may pay even more than that.
While Tesla’s Model 3 is an impressive vehicle, insurance premiums will be astronomical. A performance version will set you back $1,722 a year. But, it’s possible to get an insurance policy for just $139 a month. And the best part about this is that the performance version costs more than the range model. Tesla is making more electric vehicles and rivals like Rivian are stepping up their game in this area. But the higher the price tag, the more expensive the insurance will be.
While the Model 3 may be expensive, it won’t be the most expensive car to insure. A BMW 740i ICE car costs $2,749 annually. And a Tesla Model S costs $3,673 a year. Tesla makes an impressive impression on the auto industry and is becoming a cult favorite. While the Model 3 is expensive to insure, it’s still more affordable than a 3 Series.
Compared to other luxury cars, Teslas are expensive to insure. The MSRP for a Model 3 starts at $24k. Insuring a Model 3 Performance may cost as much as $20k. It’s also more expensive than a Mercedes C-Class or a BMW X6 5.0, but it’s still cheaper than a luxury crossover SUV. If you can afford it, you’ll be able to drive it for years to come.
The Model 3 Performance, the least expensive Tesla Model 3 insurance costs $3,386 a year. This is significantly less than the Model Y. Insurers also tend to charge lower insurance premiums for used Tesla models. The Model 3 costs about $44,990 before incentives. If you are planning to buy a new Tesla, the Model 3 Performance may be the most affordable car to insure. However, if you want to save money, look for a used Model 3 Performance.
The Tesla Model S is another expensive car to insure. The Model S costs $94,990 without discounts. But insurability costs are lower for the Model S “Plaid” model, which costs $4,275 annually. Another high-end Tesla is the Model X. The cost of insuring a Tesla Model X is around $4,275. Tesla’s insurance program is the most affordable option.