Tesla Insurance Launches in California

Tesla has officially launched its own branded insurance product to customers in California.

The company said on Wednesday that Tesla Insurance will offer rates up to 30 percent lower than competitors.

“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,” Tesla said in a blog post. “This pricing reflects the benefits of Tesla’s active safety and advanced driver assistance features that come standard on all new Tesla vehicles.”

Tesla says 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 said it plans to offer the product in other states soon.

 

[Streithorst]

I can only add more drivers after buying the Tesla insurance. Do they adjust the prices base on the driver added?

Yes, they adjust the price when you add an additional driver, and for us it was $16/month (not insignificant). But even with that, the premium was 15% cheaper than our current policy.

 

[Zorg]

Considering going to Tesla insurance since premium are much lower than State farm

 

[Grassright]

About to buy Tesla insurance, just some questions:

1. Is there multiple-Tesla discount?
2. Is it easy to cancel?

Thanks in advance for your inputs...

 

[Bet TSLA]

About to buy Tesla insurance, just some questions:

1. Is there multiple-Tesla discount?
2. Is it easy to cancel?

Thanks in advance for your inputs...

Adding my second Tesla didn't increase my premium by a lot. Neither did adding a second driver.

Do what I did: get a policy that starts several days in the future. Then call them up and add cars/drivers and see how it changes the premium. Cancel before it starts if you don't like it. I liked it so I went with it.

Beware, when I added a vehicle/driver my policy, set to start in a couple of days, started immediately. Being as I liked it that wasn't an issue for me, but it's a procedural failure you want to make sure doesn't happen to you if you care.

 

[Chewy3]

I didn't see an option for GAP insurance when I purchased my quote through Tesla Insurance...but now that I have a policy it says this at the bottom:

GAP Coverage

No
Collision Deductible Buy Back

No
Total Loss Deductible Waiver

No

None of these were options when I got my quote, and I can't find anywhere to update my policy

 

[Bet TSLA]

I didn't see an option for GAP insurance when I purchased my quote through Tesla Insurance...but now that I have a policy it says this at the bottom:



None of these were options when I got my quote, and I can't find anywhere to update my policy

Yeah, the web site is quick and dirty. You have to call to do anything not trivial. Over time I imagine this will get better.

 

[Waverider]

On top of the frustrating buying experience, Tesla insurance has been less than ideal. Had to call to add a driver, call again to get the name spelled correctly, and call a third time to add the credit union as the loss payee. Then the insurance card can only show the primary driver for some reason and the policy cannot show the loss payee (they send you a separate email). My wife summed it up, “If they can’t do something right why do they even offer it?!” I’m only hanging on because the discount was so significant over the other traditional insurance quotes. You get what you pay for I guess.