Compare Tesla Model 3 Insurance Quotes

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Tesla Model 3 Insurance

By Eamonn Turley
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Eamonn Turley Insurance Expert

Eamonn Turley has a wealth of experience within different insurance sectors. Through hard work and over time, he has gained expertise in digital marketing and user interface design. Elements that are crucial to any successful online business. The key aim is to develop websites that are intuitive, fast to load and provide insurance quotes tailored to your needs.


Expertise: Digital Marketing, Insurance, Home Insurance, Vehicle Insurance, UI Design
from the MultiQuoteTime Editorial Team - Fact checked

Our team fact-checks content to ensure accuracy at the time of writing. Note, things do change and sometimes we do miss things [we're only human!], so it's important that you read the terms of any products that you're considering before you apply.

Dec 2023
tesla model 3 insurance

Among other entry-level electric vehicle models, the Tesla Model 3 distinguishes itself with sustained market popularity, affordability, and exceptional performance. Yet, as with any cutting-edge vehicle, the insurance costs associated with the Model 3 Sedan often prompt consideration. It's important to note that driving a Tesla Model 3 in the UK without insurance could result in severe consequences, including the possibility of receiving six penalty points on your license and facing an unlimited fine, starting at £300. 

However, at Multi Quote Time, we are dedicated to offering you valuable insights into Tesla Model 3 insurance costs. Our goal is to aid you in finding the cheapest and best deal coverage for your electric car.

What is the Insurance Cost for the Tesla Model 3 in the UK?

The Tesla Model 3 insurance costs in the UK vary based on many factors, such as the model insurance group, coverage type, car age, driver profile, and location. However, on average, you can get a premium range of £800 to £1200 per year for your Model 3.

Why is the Tesla Model 3 So expensive to Insure?

Compared to conventional vehicles of the same specs, electric vehicle insurance tends to be higher. The Model 3 falls in the 48-50 range, out of the 50 car insurance group rating. Thus, this indicates a higher insurance premium, as the cost of the car itself is expensive.  

For instance, a Tesla Model 3 Performance AWD has a base price of $53,990 –  twice the price of a 2024 Toyota Camry LE Model. However, you can secure the most affordable quote by comparing prices for other cars.

Other Factors that Increase your Model 3 Premium

Location

Your address helps insurers understand the specific risks associated with your location. For instance, a 30-year-old driver living in SE1 London pays  £1,287 for a Standard Range Tesla Model 3. However, someone living in Newcastle NE1 faces a premium of £1,170, while another in Galashiels TD1 sees a lower average cost for coverage at £884.

Driver Age

Premiums for younger drivers are higher compared to those for senior drivers. Drivers within the age bracket 20-30 seeking insurance for a Tesla Model 3 Performance AWD variant would expect to pay between £2,058 and £1,219. In contrast, for Standard Range Auto, drivers of that age have the lowest insurance premium of £2,002 to £1,170.

Driving History

The information in your driving history provides insurance companies with insights into your past behaviour on the road and helps assess the level of risk you pose as a policyholder.

In which insurance group is my Tesla Model 3 categorized?

Insurance groups scale from 1 to 50 – the lower the number, the lower your yearly insurance expenses. Below are the insurance group ratings for different trim levels of the Tesla Model 3.

Trim LevelInsurance Group
Standard Range Rear-Wheel-Drive48
Long Range Auto 4d50
Performance All-Wheel-Drive Auto50

When buying a Model 3, you need to know the Model 3 car insurance group. This will assist you in determining the insurance costs associated with your selected model.

What can I do to get cheaper insurance for my Tesla Model 3?

You can save on your Tesla Model 3 insurance premium by taking the following into account:

Pay Annually

By opting for an annual payment, you can save money compared to spreading the cost over monthly. Insurers often charge additional fees for monthly payment plans. However, you should consider your financial circumstances and preferences to determine a payment frequency

Accumulate your No-Claims Discount

Your claim bonus increases when you maintain a good record of safe driving and responsible behaviour on the road without making a claim. As the bonuses accumulate, you become eligible for significant discounts on your insurance premiums.

Reducing your Annual Mileage

You can obtain more affordable insurance premiums on your Model by limiting your mileage. A car used exclusively for social, domestic, and pleasure purposes (SDP) poses a lower potential risk – leading to reduced coverage costs.

Pay Annually

At Multi Quote Time, we facilitate a seamless process of getting cheap quotes for your Tesla Model 3. Simply click “GET A QUOTE” to fill out a straightforward form, and we will submit it to a panel of specialized brokers nationwide.

Get affordable Tesla Model 3 insurance

Get affordable Tesla Model 3 insurance from 110+ UK providers. Our online platform ensures the best deals. Check our guide for key facts before comparing prices.

The Tesla Model 3, with a starting price of £42,000, boasts an impressive range of 272 to 358 miles on a single charge. It falls within the insurance groups 48 to 50, reflecting its specifications and features for insurance categorization.

  • Compare Specialist insurance providers of Tesla Model 3 Insurance
  • Extra cover available for Tesla Model 3  charging cables, wall boxes and adaptors, protection for accidental damage, fire and theft
  • Cover yourTesla Model 3  Battery for accidental damage, fire and theft

Tesla electric vehicle are prestige and thus is reflected in their price. Protect your investment by securing the right insurance for your Tesla Model 3. Compare quotes from specialist EV insurance providers to ensure worry-free driving.

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*51% of consumers could save £504.25 on their Car Insurance. The saving was calculated by comparing the cheapest price found with the average of the next five cheapest prices
quoted by insurance providers on Seopa Ltd’s insurance comparison website. This is based on representative cost savings from September 2023 data. The savings you could achieve are dependent on your individual circumstances and how you selected your current insurance supplier.

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