Tesla Issued Insurance

Dr. J

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#21
I just don't agree with penalizing someone before they've done something wrong. Everyone is an individual. A 16 yr old could be added to an insurance plan, but only drive 1-2 days a month with their parents, while another may drive 50 miles a day. Either could be involved in a claim. Why punish one for the action of another?
How would an insurance company underwrite a policy (figure out what to charge) when the applicant has no driving history? They go by statistics, of course. Younger males tend to have more claims than older/female drivers. Though you have a point about miles driven. That's a valid criterion for underwriting.
 

JCE

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#22
I just don't agree with penalizing someone before they've done something wrong. Everyone is an individual. A 16 yr old could be added to an insurance plan, but only drive 1-2 days a month with their parents, while another may drive 50 miles a day. Either could be involved in a claim. Why punish one for the action of another?
Insurance companies has years and years of accumulated data and base insurance cost on your overall risk. These numbers are not just pulled out of thin air and are highly accurate. That being said-they apply to a population and population stats don’t necessarily apply to an individual per se but is a good starting point.

I assume in your situation, a 16-year old would have to prove their safety with courses or tracking or something to decrease their risk to the insurance companies.
 

CaribbeanKing

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#23
The multi-car question is a good one. Do we think the Tesla policy will allow non-Tesla cars as well? I would love to get a discount on my Tesla insurance, but my wife drives an Infiniti, so if I can't move both cars over, will I really see the benefit?
 

Gabzqc

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#24
I think it will have something to do with the "amount of time spent driving with Autopilot engaged" as Autopilot is one huge reason the cars are so safe... perhaps they can see out of how many miles you have driven, what percentage you used Autopilot, and judge prices from that...
 

Lovesword

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#25
Don't tell anyone, but I hit 125mph on a lonely Utah road yesterday. Could easily have done more but I was askeert!!
Is that you, You You? (Bonus points to those that get this one)

The multi-car question is a good one. Do we think the Tesla policy will allow non-Tesla cars as well? I would love to get a discount on my Tesla insurance, but my wife drives an Infiniti, so if I can't move both cars over, will I really see the benefit?
Can you get me a deal on a Caribbean vacation? I live in Iowa for heavens sake.

I like this thread, lots of good discussion! Bonus points also to @Dr. J for all the links and references like it was a disertation ...felt like I was back in college!

I'll be checking this Tesla insurance out to see how it compares to my Progressive rates... but I'm a bit iffy on the whole thing since they can see every single thing. That makes me nervous. Privacy, freedom, etc... but data leaks, government stepping in and demanding data, etc. I don't know. Keeping an open mind...
 

CaribbeanKing

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#26
Is that you, You You? (Bonus points to those that get this one)


Can you get me a deal on a Caribbean vacation? I live in Iowa for heavens sake.

I like this thread, lots of good discussion! Bonus points also to @Dr. J for all the links and references like it was a disertation ...felt like I was back in college!

I'll be checking this Tesla insurance out to see how it compares to my Progressive rates... but I'm a bit iffy on the whole thing since they can see every single thing. That makes me nervous. Privacy, freedom, etc... but data leaks, government stepping in and demanding data, etc. I don't know. Keeping an open mind...
Funny enough, I can actually help out with a Caribbean vacation. You'll have to private message me for the link to insider rates though. Working for a travel company has its perks!

And I agree, I'm curious to see where this insurance topic takes us. I currently use Root Insurance which I have been impressed with. Pricing was significantly lower than Progressive and Geico which I checked when taking delivery of my M3 last year. My premium jumped 10% at renewal though, so we'll have to see what Tesla comes back with.
 

tesla m3

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#29
Don't tell anyone, but I hit 125mph on a lonely Utah road yesterday. Could easily have done more but I was askeert!!
Tesla has a record of that. The point of Tesla insurance is that the car can tell the insurance company if you are a safe driver or not. If they provide historical driving logs to the insurance companies, many of us (myself included) will not stand a chance at getting a good rate. If its ongoing logs, then you'd be able to play nice and use AP any chance you get.
 

GDN

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#30
Tesla has a record of that. The point of Tesla insurance is that the car can tell the insurance company if you are a safe driver or not. If they provide historical driving logs to the insurance companies, many of us (myself included) will not stand a chance at getting a good rate. If its ongoing logs, then you'd be able to play nice and use AP any chance you get.
It is so subjective. Driving fast or making quick maneuvers does’t mean you aren’t safe. Perfect example - a police officer has and drives this car as his daily driver. He drives it a little spirited like some of the rest of us. Tesla will think he is a bit unsafe. He will likely argue that he is one of the safest due to his training and daily life in a squad car.

Believe me, I’m not a perfect driver but I am by far a much better driver than some friends and family. However none of this will matter to anyone should they look at and use car stats. It will be what it will be. There will be other insurance companies.
 

Protect1989

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#34
If they can see driving habits and adjust rates based on that information, I think they are going to have a hard time selling this insurance.

No one wants to be penalized for rapid accelerations or spirited driving considering Tesla designed the car for those exact things!
 

FRC

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#35
Is that you, You You? (Bonus points to those that get this one)


Can you get me a deal on a Caribbean vacation? I live in Iowa for heavens sake.

I like this thread, lots of good discussion! Bonus points also to @Dr. J for all the links and references like it was a disertation ...felt like I was back in college!

I'll be checking this Tesla insurance out to see how it compares to my Progressive rates... but I'm a bit iffy on the whole thing since they can see every single thing. That makes me nervous. Privacy, freedom, etc... but data leaks, government stepping in and demanding data, etc. I don't know. Keeping an open mind...
Yes, it's me, Me ME!!! Now give me my bonus points!
 

slacker775

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#37
Insurance companies has years and years of accumulated data and base insurance cost on your overall risk. These numbers are not just pulled out of thin air and are highly accurate. That being said-they apply to a population and population stats don’t necessarily apply to an individual per se but is a good starting point.
And they also have the massive profits and endless stream of commercials to show just how good their data is..... for them.
 

micpad

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#38
So when will Tesla offer its own insurance? I have not seen anything in the news or post about it since April.
 

MelindaV

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#39
So when will Tesla offer its own insurance? I have not seen anything in the news or post about it since April.
it was mentioned in the annual shareholder meeting a couple weeks ago. Elon Musk mentioned they are working thru a small acquisition that is needed prior to moving forward. But sounds like it will be soon.
 

dburkland

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#40
Still hoping this goes live soon, I am currently shopping around after realizing my current insurance company is taking me to the cleaners.