I’m on the market for purchasing a Tesla Model 3 LR but I’m having a huge problem when it comes to finding affordable insurance. I’ve talked to family members & colleagues & they said it’s most likely due to my age (22), I make 23 in January. I just wanted to ask is it due to age primarily or is it due to it being a Tesla? I’ve received quotes of $400+ from various companies.
Car insurance pricing is based on a lot of different factors including (as permitted by the state) driving history, your age, gender (it’s better to be female), marital status (cheaper if you’re married), education level, housing situation (generally it’s cheaper if you own your home), location (neighborhood) of primary residence (and that neighborhood’s crime rate), region, state and that state’s regulatory environment, and the specific car. I probably left out a few things.
At 22, you’re likely to have moderately high rates unless you live with your parents. If you live on your own, are unmarried, and have ever had an at-fault accident or gotten a DUI your rates are likely to be through the roof.