Car Insurance Rates for a Tesla Model 3 in Philadelphia

  1. Home
    2. >
  2. Popular Vehicles
    3. >
  3. Tesla Model 3

Tesla Model 3 insurance rates
Tesla Model 3 insurance rates image courtesy of QuoteInspector.com

Insurance for Tesla Model 3Finding low cost prices on Tesla Model 3 insurance in Philadelphia might be quite difficult for drivers who have little experience online rate comparisons. With dozens of companies, it can be a real hassle to find more affordable prices on Tesla Model 3 insurance.

A recent study showed that over 70% of consumers have purchased from the same company for well over three years, and roughly 40% of drivers have never quoted rates to find cheaper coverage. Consumers in America could cut their rates by up to $850 a year just by shopping around, but most tend to underestimate the amount of savings they would get if they switch to a new company.

It's smart to get comparison quotes once or twice a year because insurance rates are usually higher with each renewal. Just because you had the best deal on Tesla Model 3 insurance in Philadelphia a few years ago you can probably find a lower rate today. Ignore everything you know about insurance because we're going to demonstrate how to use online quotes to get good coverage on Tesla Model 3 insurance in Philadelphia at a lower rate.

Getting quotes for the most affordable insurance coverage in Philadelphia is not as confusing as people think. Basically, every vehicle owner who needs cheaper insurance will more than likely be able to find better rates. But Pennsylvania car owners must comprehend the methods companies use to price online insurance because rates fluctuate considerably.

How to get cheap Tesla Model 3 insurance in Philadelphia

Most major insurance companies such as State Farm and Allstate allow you to get price estimates on the web. Comparing prices online for Tesla Model 3 insurance in Philadelphia is very simple as you just type in your required coverages as detailed in the form. After you submit the form their quoting system makes automated requests for your credit score and driving record and returns a price quote based on the data you entered.

Using the web to get rate quotes for Tesla Model 3 insurance in Philadelphia makes it a lot easier to compare rates and it's very important to get many rate quotes in order to get a better rate.

If you want to find out what other companies charge, compare rate quotes from the providers shown below. To compare your current rates, we recommend you duplicate the coverage information just like they are on your policy. This makes sure you're receiving an apples-to-apples comparison for similar coverage.

The companies shown below offer quotes in Pennsylvania. If multiple companies are shown, we suggest you visit as many as you can to get the cheapest price.

Three reasons to insure your Model 3

Despite the fact that insurance is not cheap in Philadelphia, insurance is required for several reasons.

  • Almost all states have minimum mandated liability insurance limits which means state laws require specific minimum amounts of liability insurance coverage if you drive a vehicle. In Pennsylvania these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
  • If you bought your Model 3 with a loan, most lenders will force you to have physical damage coverage to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the bank may buy a policy for your Tesla for a much higher rate and make you pay for the expensive policy.
  • Insurance safeguards both your Tesla and your assets. Insurance will pay for medical transport and hospital expenses for you, any passengers, and anyone injured in an accident. One policy coverage, liability insurance, will also pay attorney fees if you are named as a defendant in an auto accident. If your car is damaged in a storm or accident, your policy will pay to repair the damage minus the deductible amount.

The benefits of having insurance are definitely more than the cost, especially if you ever need it. But the average American driver overpays as much as $865 each year so shop around once a year at a minimum to help ensure money is not being wasted.

Get cheaper Tesla Model 3 insurance in Philadelphia with discounts

Companies that sell car insurance don't always publicize all discounts in an easy-to-find place, so the following list contains some of the best known as well as some of the hidden credits available to you.Auto insurance discounts

  • Telematics Devices - Insureds who allow driving data collection to study where and when they drive by using a telematics device in their vehicle such as Allstate's Drivewise and State Farm's In-Drive system may see discounts if they show good driving skills.
  • Accident Forgiveness Coverage - Not really a discount, but a handful of insurance companies permit an accident without raising rates as long as you don't have any claims for a specific time period.
  • Cautious Driver Discount - Safe drivers can get discounts for up to 45% lower rates than drivers with accidents.
  • Resident Student - Kids who live away from home at college and do not have a car may be insured at a cheaper rate.
  • Military Discounts - Being on active deployment in the military could qualify you for better premium rates.
  • Braking Control Discount - Vehicles equipped with ABS or steering control can stop better under adverse conditions and the ABS can save up to 10%.

Don't be surprised that some credits don't apply to the entire cost. Most only apply to specific coverage prices like collision or personal injury protection. Even though it may seem like you would end up receiving a 100% discount, insurance companies wouldn't stay in business.

For a list of auto insurance companies who offer online Tesla Model 3 insurance quotes in Pennsylvania, click here.

Insurance agent or online?

A lot of people just want to have an agent's advice and we recommend doing that A nice benefit of getting free rate quotes online is that drivers can save money and get cheap auto insurance quotes and also buy local. Supporting local insurance agencies is important especially in Philadelphia.

Find insurance agent in PhiladelphiaAfter completing this quick form, the coverage information is emailed to agents in your area who will give you bids for your auto insurance coverage. It's much easier because you don't need to leave your house due to the fact that quote results will go to your email. You can find better rates and an insurance agent to talk to. If for some reason you want to get a rate quote from a specific insurance company, you just need to jump over to their website and submit a quote form there.

Compare rates from both independent and exclusive car insurance agents

If you need to find a reliable insurance agency, you should know the types of insurance agents and how they differ in how they quote coverages. Auto insurance policy providers may be either independent agents or exclusive agents depending on their employer.

Independent Insurance Agents

Independent agencies are appointed with more than one company so they can write business with lots of companies and find you cheaper rates. To move your coverage to a new company, they simply move the coverage in-house and that require little work on your part.

If you are trying to find cheaper rates, we recommend you include at least one independent agent to maximize your price options. Many write coverage with companies you've never heard of which may provide better rates.

Below is a small list of independent insurance agencies in Philadelphia that can give you rate quotes.

View more Philadelphia agents

Exclusive Agents

Agents of this type normally can only provide a single company's rates and some examples include State Farm, AAA, Farmers Insurance or Allstate. These agents are not able to give you multiple price quotes so always compare other rates. They receive a lot of sales training on what they offer which helps overcome the inability to quote other rates. Consumers often choose to use an exclusive agent partially due to the prominent brand name rather than having the cheapest rates.

The following are exclusive agencies in Philadelphia that can give you price quote information.

View more Philadelphia agents

Finding a good auto insurance agent is decision based upon more than just the quoted price. Here are some questions you might want to ask.

  • Are they involved in claim handling?
  • How does the company pay claims for a total loss?
  • Is insurance their full-time profession?
  • What company holds the largest book of business for them?
  • Are there any discounts that you might be missing?
  • Does the agency provide any after hours assistance?
  • Did they already check your driving record and credit reports?

Auto insurance coverage breakdown

Having a good grasp of your auto insurance policy can be of help when determining appropriate coverage at the best deductibles and correct limits. The terms used in a policy can be ambiguous and nobody wants to actually read their policy.

Collision - Collision coverage covers damage to your Model 3 resulting from colliding with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims like colliding with a tree, sideswiping another vehicle, hitting a parking meter and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so consider removing coverage from lower value vehicles. You can also choose a higher deductible on your Model 3 to bring the cost down.

Comprehensive (Other than Collision) - This covers damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against things such as vandalism, damage from getting keyed, a broken windshield, damage from flooding and hail damage. The highest amount your auto insurance company will pay is the ACV or actual cash value, so if your deductible is as high as the vehicle's value consider dropping full coverage.

Protection from uninsured/underinsured drivers - This coverage protects you and your vehicle's occupants when the "other guys" either are underinsured or have no liability coverage at all. Covered losses include hospital bills for your injuries as well as damage to your Tesla Model 3.

Due to the fact that many Pennsylvania drivers only purchase the least amount of liability that is required (which is 15/30/5), it doesn't take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked. Frequently your uninsured/underinsured motorist coverages are set the same as your liability limits.

Liability - This coverage protects you from damage that occurs to people or other property. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show policy limits of 15/30/5 that translate to $15,000 in coverage for each person's injuries, a limit of $30,000 in injury protection per accident, and a limit of $5,000 paid for damaged property. Another option is a combined single limit or CSL which provides one coverage limit with no separate limits for injury or property damage.

Liability insurance covers things such as attorney fees, medical services and bail bonds. The amount of liability coverage you purchase is your choice, but consider buying as large an amount as possible. Pennsylvania state law requires minimum liability limits of 15/30/5 but it's recommended drivers buy more liability than the minimum.

The illustration below demonstrates why buying low liability limits may not be adequate coverage.

Medical expense insurance - Medical payments and Personal Injury Protection insurance pay for short-term medical expenses for things like chiropractic care, X-ray expenses, hospital visits, EMT expenses and doctor visits. They are used to fill the gap from your health insurance policy or if you are not covered by health insurance. It covers you and your occupants and will also cover getting struck while a pedestrian. PIP is only offered in select states and may carry a deductible

One last thing about your coverage

We covered many ways to save on Tesla Model 3 insurance in Philadelphia. The key thing to remember is the more quotes you get, the better your chances of lowering your prices. You may even find the lowest priced insurance comes from a lesser-known regional company.

Consumers switch companies for any number of reasons including being labeled a high risk driver, an unsatisfactory settlement offer, high prices and unfair underwriting practices. It doesn't matter what your reason, finding a new insurance company is pretty easy and you might even save some money in the process.

While you're price shopping online, do not buy less coverage just to save a little money. There are too many instances where an insured cut liability limits or collision coverage only to discover later that it was a big error on their part. The ultimate goal is to buy the best coverage you can find at an affordable rate, but do not skimp to save money.

Helpful articles