Tesla Insurance

[Mr Miserable]

Only in California at the moment.

It will be interesting to see if its a success and spreads to this side of the pond.

 

[Lawtq]

Interesting indeed. I bet it won't be that good for us. Don't want to be negative but that's my view. Let me investigate this more

 

[Roy W.]

Only in California at the moment.

It will be interesting to see if its a success and spreads to this side of the pond.

View attachment 448437

It’s been out in the States for a while now, but it has just been relaunched in a New, Improved form over there.

I think it was about the time of the original launch that Tesla here tied up with Direct Line as their “official” insurer. I suspect the UK market for Tesla insurance isn’t big enough for them to be bothered.

 

[MrBadger]

I think it may be a (very premature) pre cursor to FSD. When full autonomy arrives, car insurance as we know it is expected to change dramatically, and cars are likely to be insured as with any other (high value) personal possession. The liability of driving will shift to the manufacturer.

 

[Rooster6655]

It’s been out in the States for a while now, but it has just been relaunched in a New, Improved form over there.

I think it was about the time of the original launch that Tesla here tied up with Direct Line as their “official” insurer. I suspect the UK market for Tesla insurance isn’t big enough for them to be bothered.

This is supposed to be a new product that they have control over rather than their previous partner ventures, definitely something they have been going on about during their shareholder meetings for a while now, hopefully this means they make more money from it and can improve their business.

 

[matolda]

Has anyone else received this reply when attempting to get a quote for Tesla insurance? "We are unable to get a quote for this driver. Please review the information below." The information I entered is correct, I haven't had any accident claims with my long time provider and I have good credit. So, I wondering if my driving habits which are presumably known by Tesla is the problem?

 

[Rooster6655]

Has anyone else received this reply when attempting to get a quote for Tesla insurance? "We are unable to get a quote for this driver. Please review the information below." The information I entered is correct, I haven't had any accident claims with my long time provider and I have good credit. So, I wondering if my driving habits which are presumably known by Tesla is the problem?

Probably best trying a different forum category as this is for the UK who can't get quotes

 

[NorfolkMustard]

It seems to be a new experience for Americans too, to be able to get an insurance quote in just a few minutes.

I’ve seen it mentioned on twitter by punters and in promotional blurb too.

have they not had the instant insurance and comparison sites we’ve enjoyed for the last ~15 years?

 

[DarrylP]

I signed up yesterday with Tesla Insurance. True to the promises it was nearly a 1-click experience. Rate was VERY competitive - 35% less than my previous carrier that I had shopped rates extensively for. Asked for my CDL and that was about it. Paid with Apple Pay and done.

Interesting that the quote immediately had my annual projected mileage and typical driving habits (labeled me daily short commute), so I’m assuming they are pulling telematics from my car to create my driver profile.

This makes a ton of sense as other mainstream companies are offering telematic monitoring discounts as well. Also makes sense to have this as a precursor to FSD since they appear to be rolling out autonomy in increments. Making insurance part of their vertical eliminates finger pointing and negative press down the road when FSD collisions become more commonplace.

 

[MrBadger]

So people driving like hoons will get penalised I hope...

 

[ThrustSSC]

So people driving like hoons will get penalised I hope...

I hope not! ;-)

 

[MrBadger]

So people driving like hoons will get penalised I hope...

Yep...

Stumbled across this shareholders analysis

Musk claimed that Tesla would be able to offer such vast discounts on insurance for its cars because of the company's access to the reams of data generated by each of its vehicles, in effect leveraging the "advanced technology, safety, and serviceability of our cars".

"We essentially have an [...] information arbitrage opportunity where we have direct knowledge of the risk profile of customers," Musk said in April.

"And then if they want to buy Tesla insurance, they would have to agree to not drive the car in a crazy way. Or they can, but then their insurance rates are higher."

Tesla insurance won't cover commercial services such as using the vehicle for ride-hailing or car-sharing services.

 

[Tony Hoyle]

I still think they'd have trouble undercutting the market in the UK where it's very competitive, even with that data. The way you drive is only a part of the risk profile.. it's also the area you live in and the way other people drive.

 

[MrBadger]

I guess it’s similar info to black box insurance policies.