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So, you’re thinking about getting a Tesla Model 3. That’s a great choice! Not only is the Model 3 packed with cool features and impressive performance stats, but it’s also a budget-friendly option within the Tesla lineup.
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But, what about insurance costs?
Let’s be real, insurance can be a bit of a headache. But, it’s a necessary evil to protect yourself and your car. So, let’s take a look at the insurance cost breakdown for the Tesla Model 3.
The Basics
First things first, what factors impact car insurance rates?
Here are the top ones to keep in mind:
- Your age and driving history
- Your car’s make, model, and year
- Your location and daily commute
- Your chosen coverage amounts and deductibles
- Your credit score (in some states)
So, how does the Model 3 stack up?
Model 3 Insurance Cost Breakdown
According to recent data, the average annual insurance cost for a Tesla Model 3 is around $2,215. This is based on a coverage level of 100/300/100, which includes:
- $100,000 in bodily injury liability per person
- $300,000 in bodily injury liability per accident
- $100,000 in property damage liability per accident
- $500 collision deductible
- $500 comprehensive deductible
Of course, your specific insurance cost will vary based on the factors mentioned above. Let’s take a closer look at some other data to get a better idea of Model 3 insurance costs.
Individual Insurance Company Rates
Here’s a breakdown of some actual insurance quotes for a Tesla Model 3 across several different insurance providers:
- Allstate – $3,570
- Farmers – $2,547
- Geico – $808
- Liberty Mutual – $5,295
- Nationwide – $1,267
- Progressive – $1,793
- State Farm – $1,886
As you can see, rates range significantly depending on the provider. It’s important to shop around and compare quotes to find the best deal for your specific situation.
Tips for Lowering Model 3 Insurance Costs
While rates can vary greatly depending on your specific circumstances and provider, there are some things you can do to potentially lower your Model 3 insurance costs:
- Choose a higher deductible
- Bundle your home and auto insurance with the same provider
- Invest in safety features like a dash cam, backup camera, and alarms
- Opt for usage-based insurance if available in your area
- Ask about discounts for good driving, low mileage, or being a safe driver
Final Thoughts
So, there you have it – a breakdown of Model 3 insurance costs and some tips for potentially lowering them. While it’s not the most exciting topic, insurance is an important part of car ownership, so it’s worth considering as you plan for your Model 3 purchase.
At the end of the day, the Model 3 is an incredible car that offers a lot of value for its price. And, with a bit of research and smart insurance choices, you can enjoy that value while also keeping yourself protected on the road.
Ready to Get Your Model 3?
If you’re ready to take the plunge and get yourself a Model 3, there are a few things to keep in mind when it comes to insurance:
- Research and compare insurance providers to find the best rate
- Choose coverage levels and deductibles that work for your situation
- Invest in safety features to potentially lower your rates
- Keep your driving record clean to maintain low rates
And, of course, enjoy the ride!
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