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Tesla Model 3 car insurance coverage:
- Average car insurance for a 30-year-old driver: $2,547
- The cheapest insurance companies for Tesla Model 3 insurance: USAA, Nationwide and Travelers
- Cheapest state for Model 3 insurance: Maine
- The most expensive state for Model 3 insurance: Louisiana
The Forbes Wheels Group says the Tesla Model 3’s performance, range and fast charging network make it the most important electric vehicle (EV). If you’re considering switching to an EV, insurance costs should be part of your budget calculation. Here’s a look at the average cost of Tesla Model 3 car insurance.
Tesla Model 3 Insurance Cost and Company
Tesla Model 3 owners can save hundreds of dollars a year by comparing car insurance quotes from several different insurers. Among the major insurance companies we looked at, USAA offers the cheapest car insurance for the Tesla Model 3. If you don’t have to have USAA car insurance (you have to have the military), Nationwide and Travelers are the next cheapest options. analysis.
Tesla owners can also purchase auto insurance directly from Tesla Insurance.
Tesla Model 3 Insurance Cost by Government
State-to-state variation in Tesla Model 3 insurance costs is due to state laws, past claims in the state, medical costs, repair costs and more. Louisiana is the most expensive state for Tesla Model 3 car insurance.
Tesla Model 3 Insurance Cost Based on Age of Driver
The cheapest age to drive a Tesla Model 3 is 60 years old, according to a Forbes Advisor pricing study.
Between the ages of 30 and 40, women and men pay the same amount for Model 3 insurance. For example, women drivers in their 40s pay an average of just $9 more per year compared to men in their 40s.
The most expensive age to insure a Model 3 is 20 years and under. Gender is also the price of this age. For example, female drivers in their 20s pay an average of $764 less per year than male drivers in their 20s.
Insurers look at many factors when determining how much your car insurance is worth. This includes your driving record, type of car, where you live, use of your car versus business, annual mileage, your previous claims, credit card insurance rate (credit card risk pays more), recent expiration of car insurance. coverage and the type and amount of insurance selected.
Related: 9 Factors That Affect Your Car Insurance Rates
Tesla Model 3 vs. Similar Cars
If you are considering the Tesla Model 3, you can also look at similar cars such as the Jaguar I-Pace, Mercedes-Benz C-Class and Volvo Polestar 2. Among these models, the Model 3 is the second cheapest to confirm. , approximately. Insurance should not be a major factor in your decision to buy a car among these cars.
Related: Many Green Cars Low Priced to Guarantee
How to Save Money on Tesla Model 3 Car Insurance
There are many ways you can lower the cost of your car insurance. Here are a few:
- Match the written words. Not all insurance prices for Model 3 insurance are the same, which is why you should compare car insurance quotes from at least three different insurance companies.
- Ask for a discount. There are more than a dozen common auto insurance discounts you may qualify for.
- Participate in the telematics program. If you are a safe driver, you can benefit from your car insurance policy, which tracks and improves your driving habits.
- Buy the right car insurance. You want to make sure you have enough insurance coverage but don’t pay too much insurance. Here is a guide to help you determine how much car insurance you need.
- Have good credit. Insurers in all states except California, Hawaii, Massachusetts and Michigan can use your liability insurance as a value. But not all companies evaluate the price in the same way, so it is very important to shop around.
- Consider raising your deductible. Generally, the higher your car insurance premium, the less you will pay. Standard deductibles can range from $100 to $1,000 (or higher).
Related: Tesla Model 3 review
Best Car Insurance Companies 2022
With so many options for car insurance companies, it can be difficult to know where to start in finding the right car insurance. We’ve reviewed insurers to find the best car insurance companies, so you don’t have to.
Prices are based on drivers with a good record with $100,000 in bodily injury coverage per person, $300,000 in accidents and $100,000 in property damage coverage, uninsured motorist coverage and any other coverage required by the state. The price includes collision and comprehensive coverage with a $500 deductible. Prices are from Quadrant Information Services as of June 2022.