Tesla is looking to expand its auto insurance offering into two more states: Oregon and Virginia.
The electric vehicle manufacturer currently offers insurance products in Arizona, California, Illinois, Ohio, and Texas – where Tesla first launched its pilot insurance program which tracks policyholders’ driving behavior to set rates.
The “safety scores” generated by Tesla’s onboard telematics systems in its vehicles are available for drivers to view and use in insurance rate setting in Arizona, Illinois, Ohio and Texas – California regulations have not yet permitted the use of telematics data in insurance. Tesla claims that drivers with high safety scores can save 20% to 60% on their insurance costs.
Author(s): Lyle Adriano
Publication Date: 14 Mar 2022
Publication Site: Insurance Business America