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Insurance discounts for Enhanced Autopilot?

Discussion in 'Model 3' started by E-Powah, Feb 22, 2019.

  1. E-Powah

    E-Powah Member

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    I’ve been reading pages and pages of threads about the costs of insurance for the M3 (in the US) and, I'm wondering why insurance companies can’t give us a discount for having / using EAP?
     
    • Funny x 1
  2. billh13850

    billh13850 Member

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    Because they can make more money not giving us a break? Perhaps they don't believe the value yet?
     
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  3. Silicon Desert

    Silicon Desert Active Member

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    If I were an insurance company, I would not give a reduction in premiums at this time. Although there is some indications that EAP can reduce accidents, it is just not wide spread yet, and still too may issues. IE, not level 5.
     
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  4. Pkmmte

    Pkmmte Le meow

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    • Informative x 1
  5. Uncle Paul

    Uncle Paul Well-Known Member

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    Elon has mentioned that if traditional insurance companies do not offer favorable rates for the safety features of Tesla, he will consider starting up his own insurance company.
     
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  6. woodisgood

    woodisgood It's walnut, beech

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    A disruptor in the auto insurance industry would be very, very welcome.
     
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  7. Az_Rael

    Az_Rael Supporting Member

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    Lord, I can’t imagine having to deal with Tesla’s customer service for an accident claim.
     
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  8. joosh

    joosh Member

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    I have Liberty Mutual and they offer an Alternative Energy discount. Along with the security features of the M3, my premium from a ‘17 Honda Accord Touring did not go up a penny.
     
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  9. run-the-joules

    run-the-joules Active Member

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    Based on the quotes I’ve gotten from them in the past, that’s because they were already 85% higher than anyone else and didn’t want to make you realize it.
     
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  10. joosh

    joosh Member

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    Would you consider $50 a month a high premium for an M3?
     
  11. PoitNarf

    PoitNarf My dog's breath smells like dog food

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    Depends on where you live. According your profile you’re in Kentucky which I’m guessing has lower insurance premiums on average than a good portion of the country. Somewhere like NJ, NY or CA is definitely going to have higher premiums just because of the higher population density. That’s why it pays to shop around for insurance. Everyone’s situation is different and no single insurance company is a good fit for most people.
     
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  12. E-Powah

    E-Powah Member

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    Interesting, definitely can't complain about an EV discount. (If only they had another discount for EAP.)

    How much was the discount?
     
  13. joosh

    joosh Member

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    It wasn’t incredible, it was about $35yr. Better than $0! With my current electric rates, that equates to 6 full charges :)
     
  14. joosh

    joosh Member

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    There are always many factors, such as deductible selections, coverage amounts, multi policy discounts etc... I’m very happy with my auto rates with them. Between our two vehicles, we pay $1200 a year for pretty good coverage. We have auto, home, and life policies with them.
     
  15. Silicon Desert

    Silicon Desert Active Member

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    For us, yes. We don't pay $600 for both of us. I think he has a point. We checked with that insurance company a few years ago and it would cost us 60% more, yet maybe things have changed.

    I guess you know there are too many variables for the $50 a month to apply to everyone.
     
  16. rdunniii

    rdunniii Member

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    Actually, my premiums were/are higher in Nevada and New Mexico than Silicon Valley, CA. Much higher rates of auto theft and drunk drivers in the former two.
     
    • Informative x 1
  17. Silicon Desert

    Silicon Desert Active Member

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    I guess it depends on the city of course, rather than the state. I moved from the San Francisco bay area to Sparks NV (Gigafactory town) and our rates went down 12%. As it seems you also report being in Reno, I wonder about why yours went up and ours went down. Clearly other factors.
     
  18. Daniel in SD

    Daniel in SD Well-Known Member

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    Do cars with EAP installed have lower accident rates? Tesla hasn’t released that data. They’ve only released on-off data for cars with EAP which is inconclusive because they don’t control for road type or conditions.
    Also the fact that the car costs $5k more doesn’t help with insurance rates.
     
  19. E-Powah

    E-Powah Member

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    Whether or not they are safer is the billion dollar question. I think the general consensus is that they are/ will be once there are more AV's on the road and the systems become more capable (L3/L4+). Since it will reduce the amount of human error/input.

    You're definitely right, if they released the data it could be pretty valuable, but I'm sure there's a reason for why they haven't. However, there was the report by NHTSA that evaluated the Tesla EAP system that was a pretty interesting read (Claim that Tesla’s crash rate dropped with Autopilot contested, Tesla responds), but, Tesla came out and said that the report was testing an outdated software version so it wasn't as credible as it could be.
     
  20. Daniel in SD

    Daniel in SD Well-Known Member

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    Yeah, Tesla's response is super shady. They don't question the analysts methodology, only the sample size. They also don't provide any evidence that the sample size is too small. I want to know what the airbag deployment rate per mile for the Model 3 with EAP installed and EAP not installed. Ideally you would try to correct for road type, time of day, and road conditions too.
     

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