Tesla now offers its own insurance to owners in five states. The electric automaker recently added Ohio and Arizona to its list of states that are available with its insurance plan. Tesla’s insurance site now claims that electric car owners in Arizona, California, Illinois, Ohio, and Texas can get a low premium through the automaker's service.
The first state to get Tesla Insurance was California in 2019, then the program was expanded to Texas last October, which was followed by Illinois in December. Current Tesla owners in four out of the five states can get coverage based on their real-time driving data (except in California where Tesla has encountered regulatory issues). The coverage is based on Tesla’s safety score system that uses real-time data to give drivers a score from 0 to 100. A higher number correlates to a safer driver and results in a cheaper premium.
A driver’s safety score is based on data that Tesla collects from the amount of hard braking you do, whether you follow a lead driver too closely, your number of Autopilot disengagements, whether you take corners aggressively, and how many forward-collision warnings you get. Tesla Insurance based on the safety score was introduced in Texas. Unlike other insurance companies, Tesla claims that it doesn’t use age or gender in its calculations, just the safety score in states where it’s available.
According to Tesla, drivers with an “average” safety score should be able to save between 20% and 40% on their insurance premiums. Drivers with excellent safety scores can save 30% to 60% on their premiums. Tesla has an example of how your Safety Score can impact your premium each month.
| Month | Safety Score From Trips* | Safety Score for Rating | Monthly Premium |
| 1 | 95 | 90 | $121 |
| 2 | 88 | 90 | $121 |
| 3 | 92 | 95 | $97 |
| 4 | 98 | 88 | $130 |
| 5 | 96 | 92 | $111 |
| 6 | 93 | 98 | $83 |
* Safety Score from trips are updated by the end of each billing cycle
At a shareholder meeting last October, Tesla CEO Elon Musk stated that the automaker was aiming to have Tesla Insurance available throughout most of the U.S. by the end of 2022. Electrek claims that a review of some quotes that Tesla owners received from Tesla Insurance revealed that the majority of owners wouldn’t be saving any money, except for those that had high premiums from other companies because of their age and gender.
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Pictured: 2022 Tesla Model S (Top), 2022 Tesla Model Y (Middle)
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