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        home > news > Studies and Surveys > Tesla Model 3 Most Expensive Vehicle in U.S. to Insure

        Tesla Model 3 Most Expensive Vehicle in U.S. to Insure

        Subaru Forester least expensive on the list.

        Michael Strong
        Michael Strong , Managing Editor
        Dec. 21, 2021

        Electric vehicles are typically more expensive to purchase than their internal combustion counterparts — a major factor when shopping for a new ride. 

        2021 Tesla Model Y blue
        The Tesla Model Y was the second most expensive “popular” vehicle to insure in the U.S. trailing only the Model 3.

        However, what you’ll pay to insure that new sedan or utility vehicle plays a role in how much vehicle a buyer can afford. A new study by QuoteWizard, an insurance price comparison website, reveals the most expensive “popular” vehicles to insure are also EVs: the Tesla Model 3 and Model Y respectively.

        The Model 3, which starts in the low $40K range, costs an average of $2,830 a year for full coverage. The Model Y isn’t far behind at $2,658. “Insurance for the Model 3 and other Tesla vehicles is so expensive because as a luxury car, Teslas are more expensive to repair and are a more enticing target for thieves,” the website noted.

        The rest of the top five include: Hyundai Sonata ($2,332), Kia Forte ($2,328) and Hyundai Elantra ($2,295). While the Teslas being luxury vehicles made them the target of thieves, helping to drive upthe cost to insure them, there are other factors at play, the website noted.

        Vehicles with powerful engines are typically more expensive to insure as they “more likely to be in damaging high-speed crashes than most other types of vehicles.” The cost to repair a vehicle also plays into how much an owner is charged for insurance.

        Least expensive

        At the other end of the spectrum is the Subaru Forester, which came in at $1,760 on average to insure. Subaru’s tend to have to have good safety records, which is an enticement for buyers who are typically more cautious drivers, less prone to collisions.

        The rest of the top five of the least expensive includes: Jeep Cherokee ($1,767), Honda CR-V ($1,769), Jeep Wrangler ($1,777) and Honda Odyssey ($1,822). If you’re looking to save some money on insurance, there are a few things you can do.

        First, buy a medium-sized vehicle. A common misconception is that the smaller the car, the cheaper it is to insure. Many insurers associate small cars with being faster on the road and more prone to getting into accidents.

        Others might believe large cars are the perfect vehicle to drive. A midsized vehicle, like a sedan or small SUV, is the cheapest to insure in most cases, the website noted.

        It can be cheaper to insure a plain car rather than a flashy one. Showy cars can be more of a target for thieves, which insurers consider when setting rates, the site added.

        Mitigating factors

        The average vehicle costs $1,255 to insure annually in the U.S., but several things factor into how much the end price is, including the age the vehicle, what you paid for it, engine size and what make and model it is.

        The 2018 Jeep Wrangler Sahara is the cheapest car to insure in the U.S. On average, it costs $1,306.94 per year to insure this model. It’s cheap because its relatively affordable, it starts at $28,045, plus its sturdy and boasts plenty of safety features.

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        52 responses to “Tesla Model 3 Most Expensive Vehicle in U.S. to Insure”

        1. Rich says:
          December 21, 2021 at 4:43 pm

          This article is bull. I only pay $130 per month for full coverage on my 2022 Tesla Model 3 Long Range. That’s up $30 from my 2004 Acura.

          Reply
          1. Tony Z says:
            December 22, 2021 at 7:28 am

            $716 per year is what I’m paying Allstate to insure my 2022 Model 3, Standard RWD. My brother pays $900 for his Model Y. Perhaps TheDetroitBureau.com is exaggerating to protect their interests.

            Reply
            1. James Dawson says:
              December 22, 2021 at 9:53 am

              Way to high quotes and averages. Tesla insurance is around $1600 a year.

              Reply
            2. Chad says:
              December 27, 2021 at 6:43 pm

              Do you understand anecdotal evidence? I quoted insurance for a Tesla and it’s triple my 2010 Lexus and $1,600 more a year than a 2022 Lexus. In my case they’re quoting $3,600 a year for a model 3. So I could say this article is BS it costs way more. One data point isn’t going to tell the whole story.

              Reply
          2. KB says:
            December 22, 2021 at 8:55 am

            My Model 3 insurance costs are in line with the other gas cars I own. More bs being published here.

            Reply
          3. Capt.Tom says:
            December 22, 2021 at 9:36 pm

            Averages are a thing.
            You probably have an exemplary driving record. And where you live can affect things greatly, if you live in an area where your car is more likely to be stolen then say out in a nice country small town, your insurance is going to be a lot higher. Many years ago I wanted to insure your car when I first got out of college in New York was going to cost me $1,600 for minimal assigned Risk insurance. I took it to Florida and I got 100k/300k insurance and also insured an old Volkswagen and the total bill was $700.

            Reply
            1. James Alger says:
              December 24, 2021 at 8:49 pm

              Tesla vehicles are literally some of the least stolen because they are the hardest to steal. Out of 153 that were stolen, 152 have been recovered.

              Reply
          4. Gordon says:
            December 26, 2021 at 12:47 pm

            I’m sure glad this article wasn’t printed on paper, because it would have been a shame to harm a tree for this load of worthless “information “. I pay just a bit over $1000 a year for my 2021 Model Y with State Farm and full coverage. Also while Teslas Do get vandalized more than other cars, they are rarely stolen and a high percentage get recovered.

            Reply
        2. Nick says:
          December 21, 2021 at 11:57 pm

          Half-assed article based on one websites half-assed “research”. What most refer to as “full coverage” when purchasing insurance is really minimum requirements to be legal, which varies from state to state. The “study’s” parameters are: ” from a leading insurance company for a 30-year-old male living in Seattle with a clean driving record. This sample driver has 50/100/50 coverage with $500 deductibles for both collision and comprehensive coverage.”
          1 source/insurer for quotes for one city (that’s really expensive to live in anyways)? Washington state minimums are 25/50/10, and the quote isn’t with additional coverages such as MedPay, UM, Rental, etc, so definitely not on either end of the spectrum of coverage
          Disappointing and lazy journalism from writer and source.

          Reply
        3. Jonathan says:
          December 22, 2021 at 12:22 am

          I pay about $1100/yr for my 21 M3P. Full coverage very low ded saved full glass coverage.

          Reply
        4. Huy Pham says:
          December 22, 2021 at 12:38 am

          I came here to say the exact same thing. I actually pay $10 less each month for my Model 3 than my previous 2018 Acura TLX. Who’s “QuoteWizard” to be the gold standard for national insurance rates? This article looks and reads like a hit job on Tesla from ICE automakers.

          Reply
          1. E Dub says:
            December 22, 2021 at 9:48 am

            agreed

            Reply
        5. Eric Jensenius says:
          December 22, 2021 at 12:54 am

          How do you steal a Tesla?

          Reply
          1. E Dub says:
            December 22, 2021 at 9:49 am

            I was asking myself that same question. This article is darn near felonious…lol

            Reply
          2. James Alger says:
            December 24, 2021 at 8:51 pm

            Literally one of the only ways to do it is to use a range extender for the key. It’s why the few that do get stolen are often recovered very rapidly. Does not happen that often

            Reply
          3. SB3 says:
            December 26, 2021 at 3:21 pm

            Have some genius TSLA owner NOT use PIN TO DRIVE and a very well equipped and competent car thief.

            Reply
        6. Karl Raab says:
          December 22, 2021 at 1:44 am

          Very interesting article, but ” …. there are few things you can do” ? Try “a few things you can do.” “First, by a medium-sized vehicle.” ? Try ” …. buy a medium-sized vehicle.” Also, “It’s cheap because its relatively affordable, … ” ? Yes.

          Reply
        7. Josh says:
          December 22, 2021 at 2:34 am

          I pay 107$/month for full coverage which has 100$ deductible

          Reply
        8. Andrew Saulnier says:
          December 22, 2021 at 3:30 am

          Not for me. I’m paying about $800 per year and it’s not minimum coverage. In fact, my new model 3 performance was cheaper to insure than the infiniti G35x it replaced. I use farm bureau insurance. My model y is a bit more expensive.

          Reply
          1. Chad says:
            December 27, 2021 at 6:34 pm

            I don’t know where all these Tesla owners get their insurance. But I’ve quoted one and it’s ridiculously expensive compared to other cars. My 2010 Lexus IS about $685 every 6 months. A 2022 model 3 with the exact same coverage and estimated mileage, is $1800 every 6 months. I also quoted a 2022 Lexus IS to compare and it was only $1000 every 6 months. Maybe other insurance companies would be cheaper, but every time I’ve looked with my current car my rates would go way up.

            Reply
        9. James Holmes says:
          December 22, 2021 at 6:15 am

          Disagree 100% my insurance went up by a total of $60 a year for my 2021 Tesla model 3. I asked my agent why it wasn’t more and he told me it was because of the safety features included with the car.

          Reply
        10. Ben says:
          December 22, 2021 at 6:17 am

          Yeah, no. My M3 costs far less to insure than my other cars and truck and it’s not close. There’s still time to delete this trash article.

          Reply
        11. Tom says:
          December 22, 2021 at 6:22 am

          Baloney. I’m praying $650 per YEAR for my 2021 Model 3, dual motor.

          Reply
        12. Tim Armstrong says:
          December 22, 2021 at 7:10 am

          Thieves love Tesla’s? Maybe vandals but not thieves, check your facts.

          Reply
        13. Domonic says:
          December 22, 2021 at 7:49 am

          2021 Volvo XC40 recharge electric the most expensive car I own. 60000 loaded and it’s the cheapest car on my insurance. I have a 2018 Mercedes GLE, 2018 Audi Q3, 2018 Nissan Rogue. So not sure about this article. But I was thinking about getting a Tesla Model Y and l substituted it in for my Volvo and it was alot higher.

          Reply
        14. George says:
          December 22, 2021 at 7:53 am

          Wow, I must’ve done something right. My insurance for my Model 3 is $698/yr.

          Reply
        15. Tony Z says:
          December 22, 2021 at 7:54 am

          $716 per year is what I’m paying Allstate to insure my 2022 Model 3, Standard RWD. My brother pays $900 for his Model Y. Don’t let this article deter you.

          Reply
        16. DT says:
          December 22, 2021 at 8:35 am

          Interesting how the insurance industry can manipulate legislature to allow them the gouge people that are interested in muscle cars and now electric call electric cars. I find it despicable that the insurance industry somearnest industry sometimes writes legislature and hands it over the wall to a senator a Congressman and says, here’s what we need you to do. All in their (insurance co) self interest as to mitigate and minimize risk, unencumbered by adequate monitoring and best interest of the consumer.

          Reply
        17. Mike says:
          December 22, 2021 at 8:49 am

          Not true. I pay no more for my 2021 Model Y than I do for our Sequoia, Santa Fe, and RAV4 with Progressive. Rates vary widely by insurer and state. As an ex Michigan resident, auto insurance rates were outrageous

          Reply
        18. Mike says:
          December 22, 2021 at 9:22 am

          This felt like an ad for the big three.

          Reply
        19. Nick B. says:
          December 22, 2021 at 9:58 am

          We pay $1016 per year for full coverage on our dual motor model 3 through USAA in Seattle. This is less than the 2014 Ford Focus that it replaced for the same coverage limits. This article feels like a Detroit UAW big oil hit job on Tesla.

          Reply
        20. Frank says:
          December 22, 2021 at 10:22 am

          What the… Did this person even try to get quotes on their own? Dang such lazy journalism!!!!! I pay less for my Tesla that has more coverage than I paid for my Lotus Elise!!! I am in the sub 800 mark.

          Reply
        21. Jenn says:
          December 22, 2021 at 11:37 am

          This article is misleading…. I insure my model 3 and Honda with progressive (full coverage) for $120 total, both cars.

          Reply
        22. Tim DH says:
          December 22, 2021 at 11:37 am

          My $40k M3 costs $20 more per month than my Ford Focus that is only worth $5k. I pay less than $1.2k per year for full coverage so yeah, this article does not mirror my reality.

          Reply
        23. PS Doff says:
          December 22, 2021 at 11:51 am

          The largest component of auto insurance is the cost of insuring the bad drivers who own them.

          Reply
        24. Umar Ayub says:
          December 22, 2021 at 1:26 pm

          This is complete BS i pay 95/mo to insure my model 3 which is the same i was paying for my camry

          Reply
        25. SC says:
          December 22, 2021 at 1:41 pm

          Interesting comments because 2 years ago when I priced Model 3 insurance it was 600 more a year than me BMW 328 which was hit and totalled. Still 400 more than the Volvo I ultimately got. 2500/yr. in a part of Phoenix which has a fair share of accidents. Business partner owns a Model 3 and was paying 2400 at the time. Either insurance industry changed its stance, claim frequency a lot less where you live or coverage less. BTW, prior to the subject accident, also hit by another car but no claim on my coverage in years.

          Reply
        26. Joe M says:
          December 22, 2021 at 2:26 pm

          BS article and writer. I pay $1044 a year full coverage 21 M3 long range with $100 deductible for comp and collision with Wawanesa.

          Reply
        27. Ron says:
          December 22, 2021 at 5:40 pm

          Really??? Don’t know where these figures came from. I pay $900 per year for full coverage on my Model 3.
          Also, Teslas are extremely hard to steal without getting caught.

          Reply
        28. Brian says:
          December 22, 2021 at 8:02 pm

          100% the S560 cost more than a Tesla 3 to insure. I’m sure there are tons of cars that cost more to insure

          Reply
        29. Chet Hiner says:
          December 22, 2021 at 8:35 pm

          You need to check your facts, it is almost impossible to steal a tesla. It can be tracked, can not be supercharged. Can be set up with a password to start or thumb print. What a terrible article.

          Reply
        30. Chet Hiner says:
          December 22, 2021 at 8:37 pm

          You need to check your facts, it is almost impossible to steal a tesla. You need to stay out of the donut shop and spend more time doing research.

          Reply
        31. Shorsey says:
          December 23, 2021 at 5:47 am

          “Detroit” so i get why they spread this propaganda, my 2022 M3P brought down my insurance 25 dollar a month vs my 2020 dodge scatt pack wide body so go tesla.

          Reply
          1. Paul A. Eisenstein says:
            December 23, 2021 at 10:54 am

            Propaganda? Hardly. And automatically denouncing something with the word “Detroit” in its name would suggest where the real bias lies. We’ve been covering the EV market since the site was launched many years ago and, if anything, we’ve been highly proactive about the coming of the EV. You may disagree with the topic and substance of AN article, but then projecting that to the media outlet as a whole suggests where the actual bias lies.

            Paul A. Eisenstein
            Publisher, TheDetroitBureau.com

            Reply
        32. Combat Caribou says:
          December 23, 2021 at 6:38 am

          This sounds like an attack on the EV market. Misinformation and disinformation.

          Reply
          1. Paul A. Eisenstein says:
            December 23, 2021 at 10:52 am

            Clearly, you’ve not actually read our website but just found one article you disagree with. We cover EVs extensively and I think any regular reader will quite strongly disagree on any claim that we “attack” the EV market.

            Paul A. Eisenstein
            Publisher, Editor, TheDetroitBureau.com

            Reply
        33. David Glennon says:
          December 23, 2021 at 9:01 am

          I pay $5600 a year for an S, a Y, and an 2007 Acura (no collision) driven by a 20 year old with one accident. My insurance has been as high as $7800, but I shopped around. My policy is high because in Florida, they insure all cars against all drivers, but it is still way cheaper than this article purports. Florida appears to have high insurance costs due to all the olds and degenerates.

          Reply
        34. Steven Parker says:
          December 23, 2021 at 9:19 am

          How do u steal a Tesla? This is the stupidest article on Tesla yet. My 2021 M3 insurance is 125 a month..Fake News!

          Reply
        35. Dickson says:
          December 23, 2021 at 9:56 am

          I have a tesla model 3, 2020, my insurance after purchase in march 2020 was 524.49 now its 930.77. The article is not entirely false. I live in Maryland and have allstate. We must also understand it’s the average in the entire country. Thank you

          Reply
        36. SB3 says:
          December 26, 2021 at 3:17 pm

          Consider the source. I pay just over $800 per year for my 2021 Model Y. I have several friends that own Tesla vehicles and none pay anything close for comprehensive auto insurance to what this article claims.

          Reply
        37. JT says:
          December 26, 2021 at 3:31 pm

          Full coverage on my M3 Performance is $108/month in SoCal. I have Tesla insurance and a clean driving record.

          Reply
        38. Jim says:
          June 17, 2022 at 9:48 pm

          Tesla insurance sold by Tesla is super cheap, I pay $73 a month, this article does not apply to anyone in these states.

          Available in Arizona
          California
          Colorado
          Illinois
          Nevada
          Ohio
          Oregon
          Texas
          Virginia

          Reply

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