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EVs can lower long-term ownership costs by eliminating expensive trips to the pump, but higher insurance premiums can gobble up those gains. According to Progressive, the cost of coverage for...
Tesla Model S. Average Annual Premium $3,620. ... the average cost for non-Tesla EVs was $4,474, and the average for gas-powered cars was $4,205. ... with an average annual insurance cost of $1,249.
The average annual rate for a Tesla Model 3 is $2,221, compared to an industry average annual rate of $1,776, according to NerdWallet. ... "But that can easily get outweighed by high insurance costs."
Average cost of car insurance by make and model. ... Toyota Prius, Audi Q5, BMW I3 Electric, Dodge Challenger, BMW 300i, Tesla Model 3, Cadillac Escalade ESV Luxury, Nissan Leaf, Dodge Charger ...
In January 2024, the Tesla Model 3 was awarded Mid-Size Company Car of the Year by Auto Express, recognizing its efficiency, advanced technology, and cost-effectiveness for businesses. [268] In 2025, the Tesla Model 3 was named Top Rated Electric Car by Edmunds, praised for its range, performance, advanced features, and overall driving experience.
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