What insurance group is a Tesla Model 3?

Everything you need to know about insuring a Tesla Model 3

Model dependent, the Tesla Model 3 ranges from insurance groups 48 and 50, making it one of the more premium cars to insure.

The standard rear-wheel-drive Tesla Model 3 will be the most affordable of the three variants to insure as it sits within group 48.

The Model 3 Long Range and Performance editions will cost marginally more than the standard variant, as it is positioned in group 50.

Insurance groups range from 1 to 50 and the lower the number, the less your car will cost to insure each year.

How much is Tesla Model 3 insurance in the UK?

Costs can vary due to factors such as age, location and driving history, but the average prices are believed to range between £800 to £1200 per year, for a 30-year-old driver.

Older drivers may benefit from a lower annual cost, while young drivers may experience more expensive premiums when they take out a Tesla Model 3 lease.

Why is a Tesla Model 3 more expensive to insure than other cars?

Outright prices of any car will be one of several determining factors in deciding its insurance group.

Prices for the Model 3 start from £45,990 and rise to £59,990, making it one of the more premium cars on the road. Naturally, cars – electric or not – in this price bracket will come with insurance costs that reflect that.

This is less of a reflection on Tesla, but more the premium end of the market. Electric car alternatives like the Mercedes-Benz EQS and Audi e-tron GT are also in group 50.

The Model 3 does offer tremendous savings elsewhere, however. If you choose the Model 3 for your next business lease deal, you'll benefit from low Benefit in Kind tax rates and beat the rising fuel prices.

Comparing the Model 3 to something at the other end of the spectrum, the Hyundai i10 and Citroen C1 are two examples of cars currently placed in the lowest insurance category; Group 1.

Both cars are much smaller in their stature and come with significantly lower On The Road (OTR) prices.

Though electric cars have fewer moving components when compared to their combustion engine rivals, there are some instances where parts can be more expensive to repair should something go wrong. This can also play a role in deciding the overall insurance costs of a car.  

Thankfully, the Model 3 is one of the safest cars on the road. It scored five stars during its Euro NCAP safety tests, with a 96% score for adult occupants.

Should you take out a Tesla lease with Carparison, you may also want to consider taking out GAP insurance. This can offer further peace of mind throughout your term.