Tesla Insurance Using Real-Time Driving Behavior
Tesla offers insurance using real-time driving behavior. This is currently available to all Model S, Model 3, Model X and Model Y owners in select U.S. states, with more states coming in the future.
Unlike any other telematics or usage-based insurance products, Tesla Insurance does not require an additional device to be in your vehicle. Tesla uses specific features within the vehicles to evaluate the premium for your vehicle.
Your Tesla Insurance 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. We assume a Safety Score of 90 when you first sign up. Your premium can adjust monthly based on your Safety Score. The higher your score is, the lower your premium can be. Tesla will always notify you in advance of your new monthly premium.
Tesla offers insurance using real-time driving behavior. This is currently available to all Model S, Model 3, Model X and Model Y owners in the following states:
Safety Score Beta
The Safety Score Beta is an assessment of your driving behavior based on several metrics called Safety Factors. These are combined to estimate the likelihood that your driving could result in a future collision.
Your daily Safety Score is not impacted by the number of miles you drive. Every month, we combine your daily Safety Scores into a 30-day, mileage-weighted average to calculate the Safety Score used to update your premium.
Learn more about the Safety Score Beta and how Safety Factors impact your Safety Score.
Tesla aims to simplify the calculation of your premium. We limited the information about you and your vehicle, which impacts your premium to the following six categories:
- How safely you drive
- How much you drive
- What vehicle you drive
- Where you live
- What coverage you have
- How many vehicles you insure
How safely you drive
Real Time Insurance uses Safety Score Beta to quantify how safely you drive. Your premium is based on a mile-weighted average of the daily Safety Scores over the last 30 days.
At the end of every trip, you will get real time feedback on your driving behaviors, and your Safety Score will be updated. Based on the changes in your Safety Score, you will see an estimate of your next premium in real time. The higher your Safety Score, the lower your premium will be.
If you have more than one Tesla vehicle, each one of your Tesla vehicles will have its own Safety Score, which impacts the premium of each vehicle.
Non-Tesla vehicles will not have a Safety Score.
How much you drive
Safety Score Version 2.0
Upon purchase, your premium for the first 2 months will be determined based on your own estimated mileage. Every month thereafter, your actual mileage driven in the past 6 months will be used to determine your premium for that month.
Other Safety Score Versions
Upon purchase, your premium for the first 6 months will be determined based on your own estimated mileage. Every 6 months thereafter, your actual miles driven in those 6 months will be used to determine your premium in the following 6 months.
What vehicle you drive
Your vehicle make, model, trim and model year determine the repair cost or total value of the vehicle if it gets into an incident. Generally, the more expensive your vehicle is, the higher your premium will be.
Where you live
Where you live is correlated with safety and incident statistics in the area. Generally, the safer your neighborhood is, the lower your premium will be.
What coverage you have
Your premium will vary based on what coverages you select and what level of coverage you choose. Other than liability coverages including Bodily Injury and Property Damage, which are required by law, you have the option to select additional coverages. The more coverages you have, the higher your premium will be. For each coverage, the higher your limit or the lower your deductible, the higher your premium will be.
How many vehicles you insure
If you insure more than one vehicle with Tesla Insurance, you will get a 12% discount on your policy.