Does It Cost More to Insure a Tesla Model 3 Than a Gasoline Car?

The Tesla Model 3 is the car that the company has been looking to build ever since CEO Elon Musk introduced the Tesla Roadster back in 2008. Does a revolutionary car like this cost a lot to insure?

Now that the car has finally launched (with deliveries scheduled for late 2017), we can see how costly insurance will be. Solar Consultant did an insurance comparison between the Tesla Model 3, the Audi A4 2.0 Quattro 4 door, and the BMW 328 xDrive 4 door.

We used the following assumptions when pricing out the insurance with various providers:

  • Collision Coverage Deductible: $1,000
  • Comprehensive Coverage Deductible: $1,000
  • Distance Driven / Year: 20,000 km
  • Driver’s Age: 30
  • Driver’s Gender: Male
  • All cars were specified to cost around $50,000

Here is what each car costs to insure for a full year.


Comments (2)

  1. Reply Aaron Z

    This is a really interesting issue that will be debated for years to come. I also think insurance companies will eventually utilize real-time driving telematics from the Model 3, which is a fully connected car, to gauge driving behavior in order to better calculate premiums. E.g. how often do you go over the speed limit on certain streets and highways, how closely you trail other vehicles and how defensively you brake and accelerate?

  2. Reply Solar Consultant

    Absolutely! It will also be very interesting to see how liability works as autopilot features become more advanced.

Leave a Reply

Your email address will not be published.