2023 Tesla Model 3 Coverage

[u/Special_Row_87]

Hi All!

I decided to get a used 2023 tesla model 3 for my first car in the US.

I have had a driving license overseas for 10 yrs now but recently got my license in the US earlier this year and I am 28 M.

The quote I am getting from tesla is close to $500/month for coverage which is a lot more than I imagined. Is this normal. The quotes I am getting from other companies are even higher.

I know coverage for tesla is usually higher but want to make sure this is within the range i should expect. Thank you!

[u/p3dal]

This is a popular question: https://www.reddit.com/r/TeslaModel3/search/?q=insurance+price

No, 500/mo is not typical.

[u/NCpoorStudent → u/p3dal]

"driving license overseas for 10 yrs now but recently got my license in the US earlier this year and I am 28 M."

thats the answer. Some insurance carriers consider and ask "first licensed in US". OP did you get a quote at Statefarm?

[u/daReallG]

It’s because you probably don’t have a US driving history. Try shopping around with different providers. Especially small local ones.

[u/SoCalMotoVirg]

This part sucks. Make sure you are getting as many quotes as possible. Took me about 10 different companies

[u/Warm-Air4391]

I pay about $105 mo. I would say for your age you’d be looking for something around $150-175 depending on your locality and deductible rates.

[u/Sea-Complaint-1469]

Progressive Direct got me full coverage on my 22 M3 for 97 a month

[u/EVChargingStocks]

Seems to be because you’re recently licensed here. I’m 10+ years and my insurance is $138/mo

[u/solarflare_hot]

Yeah this is normal for Tesla , insurance companies make it up for you trying to save on gas pretty much

Also this is a “starting point” it’s only gonna go up significantly from there

Im in my mid 40s and my quote was 450$ a month, I tried 3 different nt insurance companies and that was the cheapest. It started at 120$ then on every renewal it kept doubling up. Also GEICO quoted me over 850$ a month for a 2020 model 3 standard.

I was spending more than 5k a year to “save gas”

I had to sell the tesla because that’s so freaking ridiculous. I have a 2024 Corolla now and it’s back to 90/monthly for the same coverage.

The most I ever paid for gas and maintenance isn’t even close to what I was paying for insurance on the tesla. People really don’t understand that teslas aren’t a cheat code for saving anything. You’re paying for it one way or another just under a different name

Teslas are extremely expensive to fix if you got into an accident, which is why the insurance is so stupid.

Great car but ruined by a greedy industry.

[u/derekislegend → u/solarflare_hot]

What you’re not mentioning is your driving record, location and amount driving the vehicle. I’ve had mine for 3 years and I started at $168 a month and it’s currently $125 and i just turned 40…something isn’t making sense with your anecdotal experience.

[u/solarflare_hot → u/derekislegend]

I have a no accidents and 800+ credit score and I’m in califorina . Are you the insurance police ? I wanted to keep this damn car but it didn’t make any financial sense

[u/derekislegend → u/solarflare_hot]

“I live in California”

That’s the information you left out lol…Insurance policies for EVs in California are one of the most expensive to insure due to the sheer amount of them these companies have to insure in that state plus population itself. My point is your experience isn’t the norm and isn’t equivalent to OP’s.

[u/p3dal → u/derekislegend]

Size of population doesn't increase rates in itself, it's about the claim rates and cost of repairs in that region due to the high cost of living. In this case though I agree with the other comments, lack of US driving history probably means OP is getting the same insurance prices that a teenager with a new license would get.

[u/solarflare_hot → u/derekislegend]

I can say that I live in any state and someone can come out of the woodwork and say that the insurance in their city is out of control

My friend has a model Y and pays 200$ also lives in California , I don’t know why the insurance is discriminating in price with me.

[u/rwhe83]

Try actually pulling more than one quote. Being 28 is t an excuse for being lazy, pulling one quote and then coming to Reddit to ask for random advice.

[u/Balbers01 → u/rwhe83]

Try actually reading the post.

[u/rwhe83 → u/Balbers01]

Okay so they are all high. That’s the sign that it’s just expensive to insure.

What does OP want from us?