Tesla has officially launched its insurance platform in Texas and has a neat way of determining how Tesla owners receive their rates. The insurance rates are determined based upon Tesla’s evaluation of drivers’ real-time driving behavior on the road. Taking center stage is Tesla’s Safety Score system. When Texan Tesla owners sign up for Tesla’s insurance, they are informed of the factors that affect their Safety Score. Tesla also said that each new insurance customer will start with a Safety Score of 90 and that their savings will be mostly dependent on their safety ratings.
BREAKING: Tesla has officially launched Tesla insurance in Texas
"Get competitive rates in California and Texas in as little as one minute. Insurance based on real-time driving behavior now available in Texas."https://t.co/qSpPPxB0OI
— Sawyer Merritt 📈🚀 (@SawyerMerritt) October 15, 2021
On its website, Tesla says that unlike other telematics and usage-based insurance products, it doesn’t require an additional device to be installed in your car. Thanks to its technology, Tesla already has ways to evaluate a driver’s premium that is based on how they actually drive. Monthly payments will be based on driving behavior instead of credit, age, gender, claim history, and driving records — these are the current things typical insurance providers use.
So, no high premiums just because you happen to be a man, a teenager, or someone with poor credit.
“Your premium is determined based on what vehicle you drive, your provided address, how much you drive, what coverage you select, and the vehicle’s monthly Safety Score. An average driver could save between 20% to 40%, and the safest drivers could save between 30% to 60%.”
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