How Much Does 2017 Tesla Model 3 Insurance Cost?

Searching for cheaper insurance rates for your Tesla Model 3? If shopping for insurance coverage quotes online is new to you, it’s easy to get bewildered thanks to the huge assortment local agents and online companies competing for business.

If you currently have a car insurance policy, you will most likely be able to save some money using these tips. Shopping for cheaper protection is easy if you know what you’re doing. Nevertheless, drivers must comprehend how big insurance companies market insurance on the web and apply this information to your search.

How much is insurance?

When looking for cheap insurance coverage quotes, there are a couple ways of comparing rate quotes from many different insurance companies. The quickest method to lower the rate you pay for 2017 Tesla Model 3 insurance is to jump online and get quotes. This is quite simple and can be completed in a couple minutes as outlined below.

  1. The most efficient method to get the best comparison quotes would be an industry-wide quote request form (click to open form in new window). This type of form saves time by eliminating separate quotation requests for every prospective company. A single, simple form compares rates from all major companies.It’s the quickest way to get rates.
  2. Another way to find better pricing is to take the time to go to each company’s website and fill out a new quote form. For example, let’s say you want rates from Nationwide, Geico and Progressive. In order to get each rate, you would have to spend time on each company’s site and enter your information, which is why first method is reommended.

    For a handy list of car insurance company links in your area, click here.

It’s up to you how you get prices quotes, just do your best to use the same information for every quote you compare. If the quotes have higher or lower deductibles you will not be able to determine the lowest rate for your Tesla Model 3. Even a minor difference in limits can make a big difference in price. Just keep in mind that more quotes helps locate better pricing.

Find discounts on insurance

Companies don’t always publicize every discount in a way that’s easy to find, so the list below gives a summary of some of the best known as well as some of the hidden discounts that you can inquire about if you buy insurance coverage online.

  • Multiple Policy Discount – When you combine your auto and homeowners insurance with one company they may give you a discount of 10% to 20% off each policy.
  • Good Grades Discount – Maintaining excellent grades can get you a discount of up to 25%. You can use this discount normally up until you turn 25.
  • Federal Employees – Having worked for a branch of the government could cut as much as 10% off on Model 3 coverage with a few insurance companies.
  • Telematics Devices – Insureds that choose to allow their insurance company to analyze vehicle usage by using a small device installed in their vehicle such as In-Drive from State Farm or Allstate’s Drivewise system may see discounts if they exhibit good driving behavior.
  • Waiver for an Accident – Not necessarily a discount, but some insurance companies may permit one accident without getting socked with a rate hike so long as you haven’t had any claims for a set time period.
  • Discounts for Cautious Drivers – Drivers without accidents can pay as much as 50% less on Model 3 coverage than drivers with accidents.

Just know that most discounts do not apply to the entire cost. Most cut the cost of specific coverages such as comp or med pay. Even though it appears having all the discounts means you get insurance for free, it just doesn’t work that way. Any qualifying discounts will help reduce your overall bill.

If you would like to choose from a list of companies who offer cheap insurance quotes, click here.

Tesla Model 3 insurance price factors

When buying car insurance it’s important to understand some of the elements that are used to determine the price you pay for car insurance. If you have a feel for what determines base rates, this helps enable you to make changes that could help you find better car insurance rates. Multiple criteria are part of the calculation when you quote your car insurance policy. Some factors are common sense such as traffic violations, but others are more transparent such as your marital status or how financially stable you are.

  • Save money with higher physical damage deductibles – The deductibles you choose are how much you are willing to pay out-of-pocket if a claim is determined to be covered. Physical damage protection, also called ‘full coverage’, protects your car from damage. Examples of some claims that would be covered could be a windshield broken by a bird, vandalism, and damage from wind. The larger the amount you pay before a claim is paid (deductible), the less your company will charge you for insurance on Model 3 coverage.
  • Liability insurance is peace of mind – Your car insurance policy’s liability coverage will afford coverage in the event that a jury decides you are liable for damages caused by your negligence. Your liability coverage provides legal defense coverage to attempt to prove you were not liable. This coverage is relatively inexpensive compared to other policy coverages, so drivers should make sure they buy enough to cover all assets.
  • Never let your car insurance expire – Driving any period of time without insurance is illegal and companies may charge more for letting your insurance lapse. And not only will insurance be more expensive, the inability to provide proof of insurance could result in a hefty fine and possibly a revoked license. You may need to file a SR-22 with your state department of motor vehicles.
  • Insurance is expensive for teenage drivers – Beginning drivers have a tendency to get distracted easily when driving with friends so car insurance rates are higher. If you’ve ever had to add a inexperienced driver to your policy can be very expensive. More mature drivers have been proven to be more responsible, file fewer claims , and usually have better credit.

Tailor your insurance coverage to you

When choosing adequate coverage, there is no “best” method to buy coverage. Your needs are not the same as everyone else’s.

For instance, these questions could help you determine whether your personal situation would benefit from an agent’s advice.

  • Should I carry comprehensive and collision coverage?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Am I covered if I hit a deer?
  • When does my teenage driver need to be added to my policy?
  • Exactly who is provided coverage by my policy?
  • Do I need to file an SR-22 for a DUI in my state?
  • Should I bundle my homeowners policy with my auto?
  • Is a new car covered when I drive it off the dealer lot?

If you can’t answer these questions, you may need to chat with an agent. To find an agent in your area, complete this form.

Ads can be misleading

Insurance companies such as State Farm and Allstate endlessly run television and radio advertisements. They all seem to have a common claim about saving some big amount just by switching your coverage to them. It sounds good, but how can they all give you a better price? Here is how they do it.

Insurance providers quote their cheapest rates for the type of driver that earns them the most money. An example of a profitable customer should be a mature driver, has never had a policy lapse, and insures a new vehicle. Any new insured who matches those parameters will get low car insurance rates and have a good chance to save if they switch.

Potential insureds who do not meet these criteria will have to pay a higher rate and this can result in the customer not buying. Company advertisements say “customers that switch” not “everybody who quotes” save the amount stated. This is how companies can truthfully advertise the way they do. This emphasizes why you should get a wide range of price quotes. It is impossible to guess which company will give you lower premium rates than your current company.

Insurance coverage options for a Tesla Model 3

Knowing the specifics of insurance can be of help when determining which coverages you need and the correct deductibles and limits. Insurance terms can be ambiguous and nobody wants to actually read their policy.

Collision – Collision coverage will pay to fix damage to your Model 3 from colliding with a stationary object or other vehicle. A deductible applies then the remaining damage will be paid by your insurance company.

Collision can pay for things like hitting a parking meter, colliding with a tree, crashing into a building, sustaining damage from a pot hole and damaging your car on a curb. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. Drivers also have the option to increase the deductible to save money on collision insurance.

Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your Tesla Model 3.

Since many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked.

Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage kick in for immediate expenses like funeral costs, pain medications, chiropractic care, X-ray expenses and hospital visits. They are utilized in addition to your health insurance program or if you do not have health coverage. Coverage applies to all vehicle occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is not universally available and may carry a deductible

Comprehensive insurance – This coverage pays to fix your vehicle from damage from a wide range of events other than collision. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims like damage from getting keyed, theft, a tree branch falling on your vehicle, hitting a bird and rock chips in glass. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Coverage for liability – Liability insurance protects you from damage or injury you incur to other’s property or people that is your fault. This insurance protects YOU against claims from other people, and does not provide coverage for your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have liability limits of 50/100/50 which stand for a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and a limit of $50,000 paid for damaged property.

Liability insurance covers claims like medical services, structural damage, attorney fees, loss of income and emergency aid. How much liability coverage do you need? That is up to you, but you should buy higher limits if possible.

Never pay more for less

Drivers switch companies for a number of reasons such as an unsatisfactory settlement offer, delays in paying claims, high prices and even high rates after DUI convictions. Regardless of your reason, choosing a new company is actually quite simple.

When buying insurance coverage, you should never buy lower coverage limits just to save a few bucks. Too many times, someone sacrificed liability coverage limits to discover at claim time that it was a big mistake. The ultimate goal is to buy a smart amount of coverage at the best cost, but do not skimp to save money.

We just covered some good ideas how you can compare 2017 Tesla Model 3 insurance car insurance rates online. The key thing to remember is the more times you quote, the higher your chance of finding low cost insurance coverage. You may be surprised to find that the lowest priced auto insurance comes from an unexpected company.

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