Yes, Often by 20% to 30%
Tesla Insurance beats traditional insurers for many 2023 Tesla Model 3 drivers. Owners with high Safety Scores pay 20% to 30% less. Full coverage from big brands like State Farm runs $3,419 to $5,354 yearly. Tesla starts lower and adjusts monthly based on your drive. Safe habits drop your bill to $1,176 to $1,608 per year, or $98 to $134 monthly.
Traditional insurers use age, credit, claims, and location to set rates. Tesla tracks real driving with car sensors. It scores hard braking, sharp turns, close following, and Autopilot issues. High scores save money. Low scores raise rates.
Tesla offers insurance in select states for Tesla cars only. No luck there? Look at telematics from other carriers that reward safe drives.
Here is a cost snapshot for full coverage on a 2023 Model 3 in zip 01760:
| Insurer | Monthly Cost | Notes |
|---|---|---|
| Tesla Insurance | $98 to $134 | High Safety Score |
| Hugo | $98 | Example quote |
| USAA | $134 | Example quote |
| State Farm | $148 | Example quote |
Rates vary by your profile. Drivers with clean records, low miles, and high scores save most. High miles, hard braking, or risky areas hurt savings. You might miss bundle deals or wide repair networks.
Get the best rate with these steps:
- Quote Tesla Insurance in the app. Use zip 01760 as an example.
- Drive 30 days to build your Safety Score before a long policy.
- Get quotes from three traditional insurers. Match 100/300 liability, comp/collision, $500 to $1,000 deductible.
- Ask for safe driver, telematics, and bundle discounts.
- Compare full yearly costs with fees and device needs.
- Raise deductible only if you cover repairs fast.
- Shop again every 6 to 12 months or after changes in miles, address, or credit.
Sidekick tracks your premiums, miles, and risk to show true costs and alert you to switches that save money.