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EVANNEX

Tesla's Insurance Program Is Expanding, Here's Where You Can Get It

This article comes to us courtesy of EVANNEX, which makes and sells aftermarket Tesla accessories. The opinions expressed therein are not necessarily our own at InsideEVs, nor have we been paid by EVANNEX to publish these articles. We find the company's perspective as an aftermarket supplier of Tesla accessories interesting and are happy to share its content free of charge. Enjoy!

Posted on EVANNEX on December 11, 2022, by Peter McGuthrie

Since Tesla launched its own insurance service in California nearly two years ago, the automaker has expanded the program across several U.S. states. Tesla recently expanded the insurance plan to its 12th U.S. state, and it says it eventually plans to expand to all 50 states. 

Above: A Tesla Model Y at a home charging station. Photo: Tesla

Tesla’s insurance plans recently expanded into Minnesota, according to the automaker's website and as detailed in a report from TeslaratiThe news comes after Maryland and Utah were added to the list of eligible states for Tesla’s insurance program in July, with most of the states offering rates based on real-time driving behavior.

Tesla’s insurance program collects data as a person drives to determine their rates, which the company says can help save money for safe drivers. The program establishes safety scores based on certain driving behavior rated out of 100, offering lower monthly premiums to those with higher scores.

As listed on the company’s website, you can enroll in a Tesla insurance plan in the following states:

  • Arizona
  • California*
  • Colorado
  • Illinois
  • Maryland
  • Minnesota
  • Nevada
  • Ohio
  • Oregon
  • Texas
  • Utah
  • Virginia

*In California, state privacy laws prohibit the use of telematics-based on real-time driving behavior, so Tesla insurance doesn’t include rates based on these factors in the state. Although the company still offers a safety score feature in the state, Tesla has said California drivers have the feature for “educational purposes only,” prompting users to see the rating as in “beta.”

You also don’t have to be a Tesla owner to enroll in the company’s insurance plans, nor do you have to install a device in your car when enrolling — unlike real-time driving plans from some other companies.

Tesla also plans to significantly expand its insurance business in the coming years as it becomes available in more and more states. CEO Elon Musk expects that its insurance policies could make up as much as 30 or 40 percent of the company’s business down the road.

In Oregon and Maryland, Tesla’s planning to raise insurance rates by 24.5 and 30 percent, respectively, according to Teslarati.

A filing also confirmed that the company planned to raise rates in these states, citing “competitor rate activity” and continuing inflationary pressure as the reason for the increases. Currently, there are 937 Oregon customers enrolled in Tesla insurance that will be impacted by the rate increases, while a total of 1,058 Maryland customers are set to face higher premiums.

Source: Teslarati / Tesla

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