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Tesla Model 3 Insurance Rates

You have many choices when buying insurance for your Tesla vehicle. You can buy direct from your neighborhood insurance agent or shop online to compare rates from insurance providers. Finding cheaper auto insurance by comparing rates online is easy, in addition you will probably save money.

Consumers who are new to the process of comparing rates may think finding cheap Model 3 insurance is going to be difficult. Finding lower Model 3 insurance cost can be quick and easy. You just have to spend a little time comparing rates from different insurance companies. It is quite easy and can be accomplished by comparing rates here.

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Criteria which help determine Model 3 insurance quotes

Insurance rates for a Tesla Model 3 can fluctuate considerably based upon several criteria. A few of these criteria are:

  • The performance level of your Model 3
  • Accidents raise premiums
  • Home/auto policy bundles save money
  • Use of your vehicle
  • Optional coverages like vehicle replacement
  • No claims lowers premiums
  • Maintaining coverage lowers rates
  • Owning a home can lower rates

One last important factor which can affect the rate you pay on your Tesla is the year of manufacture. Newer models have a higher actual cash value so repair costs are higher which may result in higher rates. But more recent Tesla vehicles may have options including a backup camera, an advanced theft deterrent system, dual-stage airbags, and pedestrian detection which may lower rates.

To get more specific information about how much rates will be for your vehicle, select the year of your Model 3 from the following list.

Auto liability insurance - Liability insurance will cover injuries or damage you cause to other people or property that is your fault. Liability can pay for claims such as funeral expenses, loss of income, and emergency aid. Liability insurance is relatively cheap so purchase as high a limit as you can afford.

Collision coverage - This will pay to fix damage to your Tesla caused by collision with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder. Model 3 collision insurance is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. You can also choose a higher deductible to save money on collision insurance.

Comprehensive insurance - Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage. The most a auto insurance company will pay at claim time is the actual cash value, so if it's not worth much more than your deductible it's not worth carrying full coverage.

Uninsured/Underinsured Motorist coverage - This coverage protects you and your vehicle's occupants when the "other guys" are uninsured or don't have enough coverage. Since a lot of drivers only carry the minimum required liability limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked.

Med pay and Personal Injury Protection (PIP) - Personal Injury Protection (PIP) and medical payments coverage provide coverage for bills for things like ambulance fees, surgery, and doctor visits. They are often used to fill the gap from your health insurance program or if there is no health insurance coverage. PIP is only offered in select states and gives slightly broader coverage than med pay.

How Much are Tesla Model 3 Insurance Rates?