Something to think about regarding insurance

[sf_t3sla]

I think people should keep in mind that if they are in an accident where their car is totaled, if they did not buy autopilot or full self-driving features at the time of delivery, I do not see how or why the insurance company would pay thousands of dollars to replace those features in your replacement vehicle.

if you have an aftermarket stereo, it is typically not covered unless you explicitly pay extra in your plan. I don't see why this would not be dealt with in the same way.

so imagine if you spent $10,000 or more for full self-driving as an after purchase upgrade and then your car is in an accident.... Seems like you're taking a huge risk.

having said all of that I would assume that if and when Tesla offers car insurance this will be a nice feature they include.

 

[vjason]

I've been meaning to contact my insurance about this. I added EAP and FSD post purchase and have wondered how (if?) that would be covered. I'll have to see what Allstate says and post back.

 

[PoitNarf]

Well you can finally get a copy of the invoice for AP or FSD that are purchased post-delivery from your account on Tesla's website, so at least you have proof of purchase to provide to the insurance company. It's a purchase of OEM software (and hardware if getting FSD and you need the HW3 upgrade) directly from the manufacturer and isn't some third party of aftermarket add-on, so in my opinion it should factored into the total vehicle price in the case of a total loss. Whether or not an insurance company would honor this is kind of up in the air unfortunately.

 

[Leafdriver333]

How is different than Driver Assistance Plus PKG of BMW?
It is basically autopilot.
This is not a unique situation for Tesla

 

[glide]

Is it on an invoice from Tesla? Insurance should cover it.

Not on an invoice? Why would it even come up for discussion?

This is something (not a solution) in search of a problem.

 

[ewoodrick]

They are considered part of the vehicle, like a basic cruise control when purchased with the car.
If you purchase afterwards, you may need to update vehicle with insurance company.
Once in an accident, it doesn't matter if you can provide the post new vehicle purchase, it wasn't included in the original quote.

Like a house, if you finish the basement and want it covered, you need to add it to the policy.

 

[rich0]

I talked to my insurer (Amica) and anything in the purchase price is covered. Keep in mind though that in a total loss you're getting book value for the whole car, not what you originally paid. So you get what people are paying for a used car with autopilot/FSD/whatever, and not $10k above whatever the base used car sells for if you paid $10k for your options.

In theory though you can go look at used car listings and expect to see a car with identical mileage and configuration is selling for about what the insurance pays you. Of course, availability is likely to be an issue for a car as limited as uncommon as the Tesla. If people are only paying $1k more for autopilot on the used market then you'll only get $1k for it from insurance, but on the other hand if you buy a used M3 you'll only pay $1k more for the feature. That's just how markets work - the price is whatever two people agree it is and the book just reflects current trends.

If you want to go and buy a brand new M3 then you're going to take some kind of loss regardless, unless your insurance does replacement coverage. In that case you'd expect it to reimburse you whatever a brand new car with the same config costs, whether that is less than what you paid or more than what you paid, but that would depend on the details of your policy.

 

[SMAlset]

I think people should keep in mind that if they are in an accident where their car is totaled, if they did not buy autopilot or full self-driving features at the time of delivery, I do not see how or why the insurance company would pay thousands of dollars to replace those features in your replacement vehicle.

if you have an aftermarket stereo, it is typically not covered unless you explicitly pay extra in your plan. I don't see why this would not be dealt with in the same way.

so imagine if you spent $10,000 or more for full self-driving as an after purchase upgrade and then your car is in an accident.... Seems like you're taking a huge risk.

having said all of that I would assume that if and when Tesla offers car insurance this will be a nice feature they include.

Interesting perspective. Hadn't really thought about it but it is akin to buying a house, insuring for that amount, and then later adding hardscape to the lot or room improvements or additions. If not added to your homeowners policy like you said where your coverage for it would be included, they wouldn't pay out on it if there was a total loss.

 

[mswlogo]

Is it on an invoice from Tesla? Insurance should cover it.

Not on an invoice? Why would it even come up for discussion?

This is something (not a solution) in search of a problem.

The question is, to most insurance companies will they care if it's two invoices or one?

 

[SMAlset]

I talked to my insurer (Amica) and anything in the purchase price is covered. Keep in mind though that in a total loss you're getting book value for the whole car, not what you originally paid. So you get what people are paying for a used car with autopilot/FSD/whatever, and not $10k above whatever the base used car sells for if you paid $10k for your options.

In theory though you can go look at used car listings and expect to see a car with identical mileage and configuration is selling for about what the insurance pays you. Of course, availability is likely to be an issue for a car as limited as uncommon as the Tesla. If people are only paying $1k more for autopilot on the used market then you'll only get $1k for it from insurance, but on the other hand if you buy a used M3 you'll only pay $1k more for the feature. That's just how markets work - the price is whatever two people agree it is and the book just reflects current trends.

If you want to go and buy a brand new M3 then you're going to take some kind of loss regardless, unless your insurance does replacement coverage. In that case you'd expect it to reimburse you whatever a brand new car with the same config costs, whether that is less than what you paid or more than what you paid, but that would depend on the details of your policy.

I would assume it's the going book value rate for equipment added or features like AP or FSD added, unless you had replacement cost as part of your car insurance policy.

 

[dsvick]

If you purchase afterwards, you may need to update vehicle with insurance company.
Once in an accident, it doesn't matter if you can provide the post new vehicle purchase, it wasn't included in the original quote.

Like a house, if you finish the basement and want it covered, you need to add it to the policy.

This is correct, if the value of whatever you're insuring changes it is up to you to update the policy so that you are covered for it.
Hopefully, as more data is collected, whatever cost adding FSD would add to your policy would be offset by a discount for adding a feature that makes your car safer.

 

[SMAlset]

The question is, to most insurance companies will they care if it's two invoices or one?

The issue is at the time you placed your insurance on the car, did you tell them all the $ items you are expecting them to cover or did you update your policy if something changed. If not doesn't matter if you had one or two invoices. Not paid to cover, your expense out of pocket to replace.

 

[Wooloomooloo]

Why wouldn't Tesla simply make it available on the next car, if you can prove the prior car was completely decommissioned. That would solve a lot of issues - it's just software after all.

 

[quikshifter]

How is different than Driver Assistance Plus PKG of BMW?
It is basically autopilot.
This is not a unique situation for Tesla

you can't add that package after delivery

 

[Mr Vader]

Why wouldn't Tesla simply make it available on the next car, if you can prove the prior car was completely decommissioned. That would solve a lot of issues - it's just software after all.

I agree.
as you pay for a software, you should be able to transfer to a different vehicle in case of total loss.
it's like paying for an app on Google Store, and not being able to download the app to a different phone if you switch mobile...

 

[sf_t3sla]

I use Gieco and on their website added my VIN...no questions asked about EAP/AP/FSD.

So I don't understand how they know in either way..... But I bought EAP at purchase- so I can fight it if needed.... buying it after the fact- I don't see how insurance would know or offer to cover it....


For others here-- if you call your insurance and tell them you paid $10k for FSD/EAP etc-- If they are going to cover it (eg, pay you out on it in a scenario of a loss) --- Shouldn't your rates go up a lot? Take a $35k SR and add $10k to that price--- you now have a $45k car...

Forget safety things like AP/EAP/FSD that should have huge impacts on insurance rates--- just replacing this feature in the future sounds like it will be a big problem

 

[C141medic]

This is why I have replacement value from Allstate for my car and also purchased gap insurance from my credit union.

 

[sf_t3sla]

Replacement value if the insurance company knows about it... has anyone explicitly told the insurance if they DID buy EAP/FSD at time or purchase or after?

I never told them and not sure how they would know to 'cover' it for replacement

 

[C141medic]

Replacement value if the insurance company knows about it... has anyone explicitly told the insurance if they DID buy EAP/FSD at time or purchase or after?

I never told them and not sure how they would know to 'cover' it for replacement

Allstate requested a copy of the invoice or MVPA from Tesla.

 

[brkaus]

I agree.
as you pay for a software, you should be able to transfer to a different vehicle in case of total loss.
it's like paying for an app on Google Store, and not being able to download the app to a different phone if you switch mobile...

If a car is totaled but the stereo or wheels are ok, why wouldn’t they make you keep them? Tesla shouldn’t be penalized to save State Farm money.

And of course, what if you get a different brand replacement? They just hand over a usb stick?

Of course, Tesla may be keeping savings like like this for its own policy.