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Tesla Model 3 car insurance

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Why choose a Tesla Model 3?

Tesla considers itself to be a tech company as much as a car manufacturer. That means you can expect your car to come with the most advanced technology and safety features.

The Model 3 comes with a 15-inch touchscreen display, premium audio system, and software-over-the-air updates, which allow your car to improve over time.

Like all Teslas, the Model 3 is fully electric, with an impressive 374-mile range. In other words, you can drive from London to Manchester without having to recharge. If you fancied taking your car across Europe, you could go from Amsterdam to Brussels (and back again) without needing to plug in.

The performance on these cars is impressive too, allowing you to go from 0-60mph in just 3.1 seconds. And if you choose to, there’s always the option to upgrade your car’s performance and brakes.

What insurance group is my Tesla Model 3 in?

The bad news is that the Tesla Model 3 sits in the highest insurance groups, so your car will probably be expensive to insure.

Exactly which insurance group your Tesla Model 3 belongs to will depend on the model type you own and when you bought it.

In the table below, you’ll find some examples of insurance groups for the Tesla Model 3.

Model Insurance group
Tesla Model 3 Standard Range Plus 48
Tesla Model 3 Long Range AWD 50
Tesla Model 3 Performance AWD 50

To find out the insurance group for your Tesla Model 3, use our car insurance group checker.

What affects the cost of my Tesla Model 3 insurance?

The cost of your Tesla Model 3 car insurance will depend on several factors, not least its insurance group. Insurance groups are numbered 1 to 50, with group 50 cars being the priciest to insure.

The price of your Tesla Model 3 insurance premium will also be affected by your age, postcode, and how experienced a driver you are.

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What cover do I need for my Tesla Model 3?

When it comes to insuring your Tesla Model 3, you’ve got three basic options to choose between:

  • Third-party insurance – is the lowest level of protection, and the minimum required by law. Third-party only covers damage to another driver’s car if you’re at fault, but your own car won’t be covered.

    Don’t assume this is the cheapest type of insurance. Insurance providers often consider drivers who choose third-party high risk, so may charge more for this type of insurance.
  • Third party fire and theft – gives you the same protection as third party, but also covers you if your car is stolen or damaged by fire. It won’t protect you – or your Tesla Model 3 – if you’re the one at fault.
  • Comprehensive car insurance – gives you the highest level of cover, and the reassurance that you and your car are protected if you have an accident – no matter whose fault it is.

What extras can I add to my Tesla Model 3 car insurance policy?

If you’d like a Tesla Model 3 car insurance policy that covers you for all eventualities, consider getting these add-ons:

Breakdown cover

Breakdown cover provides you with roadside assistance should your Tesla break down.

Motor legal protection

Motor legal protection could help cover expensive solicitors’ fees if another driver takes legal action against you.

European breakdown cover

European breakdown cover means you’ll be covered for that trip to Brussels.

Personal belongings cover

Personal belongings cover covers your possessions if someone breaks into your car and steals your them.

Courtesy car cover 

Courtesy car insurance provides you with a replacement car if your Tesla Model 3 needs repairs. This could be a must-have if you need your car for work or childcare commitments.

Personal accident cover

Personal accident insurance gives you the peace of mind that if either you (or your partner) are seriously injured or killed in a car accident, the other will receive a pay-out.

Windscreen cover

Windscreen cover covers your Tesla’s windscreen if it ever needs to be repaired or replaced.

No claims bonus protection

lets you keep your no claims discount, even if you make a claim.

Lost keys cover

Lost keys cover pays for reprogramming or replacing your car keys if they’re lost or stolen.

Why compare Tesla Model 3 car insurance with Compare the Market?

The Tesla Model 3 is an expensive car to insure, so you’ll probably be looking for ways to reduce the price of your policy.

Here at Compare the Market, we do the hard work for you. It’s easy to compare insurance providers and get the right policy for you. 

51% of Compare the Market customers could save up to £549[1] on their car insurance.

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[1] Based on Online independent research by Consumer Intelligence during March 2024, 51% of customers could achieve this saving on their car insurance through Compare the Market.

Frequently asked questions

How can I get cheaper car insurance for my Tesla Model 3?

Looking to get cheaper car insurance for your Tesla Model 3? Assuming you’ve already shopped around, there are a few ways you can lower the cost of your policy.

One is to pay for a year of insurance upfront. This at least lets you avoid the interest charged on monthly payments.

It’s also worth looking at your parking arrangements – insurance providers will be happier if you have off-street parking and decent security in place.

How much is a Tesla Model 3?

Prices for a new Tesla Model 3 Rear-Wheel Drive start at £42,990. However, you can find second-hand models starting at £18,000.

What’s the range of a Tesla Model 3?

The newest Tesla Model 3 has a certified range of 374 miles.

How safe is a Tesla Model 3?

The Tesla Model 3 has a Euro NCAP 5-star safety rating, making it one of the safest cars to drive. Thanks to its advanced safety features, it earned the highest score awarded for the Safety Assist category.

Which is the most affordable Tesla?

The Model 3 is considered the most affordable car in the Tesla range.

Page last reviewed on 11 JANUARY 2024
by Julie Daniels