Introducing Tesla Insurance
Thread Starter
Joined: Oct 2008
Posts: 42,476
Likes: 321
From: California
Introducing Tesla Insurance
Starting today, we’re launching Tesla Insurance, a competitively priced insurance offering designed to provide Tesla owners with up to 20% lower rates, and in some cases as much as 30%. Tesla Insurance offers comprehensive coverage and claims management to support our customers in California, and it will expand to additional U.S. states in the future.
Because Tesla knows its vehicles best, Tesla Insurance is able to leverage the advanced technology, safety, and serviceability of our cars to provide insurance at a lower cost. This pricing reflects the benefits of Tesla's active safety and advanced driver assistance features that come standard on all new Tesla vehicles.
Tesla owners in California can purchase a policy in as little as one minute via tesla.com/insurance. For new vehicle orders, customers can request a quote prior to delivery once a VIN has been assigned to their Tesla Account.
Tesla Insurance offers a convenient monthly payment with no hidden fees or charges. Customers may cancel or change their Tesla Insurance policy at any time.
Because Tesla knows its vehicles best, Tesla Insurance is able to leverage the advanced technology, safety, and serviceability of our cars to provide insurance at a lower cost. This pricing reflects the benefits of Tesla's active safety and advanced driver assistance features that come standard on all new Tesla vehicles.
Tesla owners in California can purchase a policy in as little as one minute via tesla.com/insurance. For new vehicle orders, customers can request a quote prior to delivery once a VIN has been assigned to their Tesla Account.
Tesla Insurance offers a convenient monthly payment with no hidden fees or charges. Customers may cancel or change their Tesla Insurance policy at any time.
Lexus Test Driver
Joined: Jan 2007
Posts: 7,460
Likes: 232
From: CA
Funny thing is, most people on the forums are finding that the Tesla insurance is higher than they currently pay. haha. The website is currently down and they are supposedly revamping the algorithm.
Lexus Fanatic
Joined: Oct 2003
Posts: 94,464
Likes: 251
From: Virginia/D.C. suburbs
so a car company is going to underwrite the risk of the cars it produces themselves? Definitely no conflict of interest here. Remember how they can practically monitor your car's parameters and therefore driving habits?
What can go wrong?
What can go wrong?
Last edited by 4TehNguyen; Aug 29, 2019 at 12:52 PM.
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Lexus Test Driver
Joined: Jan 2007
Posts: 7,460
Likes: 232
From: CA
Originally Posted by 4TehNguyen
so a car company is going to underwrite the risk of the cars it produces themselves? Definitely no conflict of interest here. Remember how they can practically monitor your car's parameters and therefore driving habits?
What can go wrong?
What can go wrong?
Thread Starter
Joined: Oct 2008
Posts: 42,476
Likes: 321
From: California
Lexus Fanatic
Joined: Oct 2003
Posts: 94,464
Likes: 251
From: Virginia/D.C. suburbs
Lexus Fanatic
Joined: Nov 2011
Posts: 35,468
Likes: 380
From: ON/NY
With regard to data, Tesla says it won't track your personal driving data to determine insurance rates—although the company's filing with the state's insurance board suggests it would. Keep in mind that Tesla downloads video and sensor data from every owner's car to improve its Autopilot functions, and it also has access to charging usage and anything else connected to a computer.
Lexus Champion
Joined: Feb 2011
Posts: 3,309
Likes: 31
From: Canada
I would not be surprised if dedicated Tesla insurance is more expensive than mass-market insurance. Without the large base of customers, the ability of a number of low-claim, low-cost customers to subsidize high-claim, high-cost customers is reduced. And without some insurance company underwriting Tesla Insurance, I doubt that Elon Musk could make a go of it.
I have to ask again: Why must Elon Musk insist on going his own way again, this time with insurance? First it was automotive components, such as seats. There are highly-specialized suppliers in the market supplying seats, automotive plastics, and automotive insurance. These specialist suppliers are able to their parts and services at (much) lower cost and (much) better quality (due to economies of scale) than any single automaker can do on its own.
I have to ask again: Why must Elon Musk insist on going his own way again, this time with insurance? First it was automotive components, such as seats. There are highly-specialized suppliers in the market supplying seats, automotive plastics, and automotive insurance. These specialist suppliers are able to their parts and services at (much) lower cost and (much) better quality (due to economies of scale) than any single automaker can do on its own.
