Tesla offers auto insurance for Tesla owners in California and plans to expand in the future. Because Tesla repairs can be expensive, the Tesla team offers an alternative to the more traditional auto insurance companies.

Our Tesla auto insurance review uses our SimpleScore method to compare it to other brands, including coverage options, discounts, customer satisfaction, support, and website accessibility. We’ll go into more detail later on what to look for when evaluating an insurance company, how Tesla’s insurance option compares, and take a quick look at key competitors.

Tesla Insurance – Tesla

If you live in California and own a Tesla, getting a quote on Tesla auto insurance is worth it.

SimpleScore

2.3 / 5.0

Customer satisfaction N / A

  • Can save up to 30% on premiums compared to other insurance companies
  • Fast online purchase process
  • Pre-pricing with no hidden fees
  • Available in California only
  • Non-Tesla cars cannot be combined with a Tesla insurance policy
In the news

Tesla on the news

  • Tesla joined the S&P 500 in late 2020 and became one of the largest companies to join the famous index.
  • With COVID-19 disrupting the lives of millions of people, Tesla has announced that it will offer 14 days of paid sick leave to any employee who tests positive for the virus. This is available to any affected employee or family member.
  • Elon Musk is also the founder of the Musk Foundation. This is the not-for-profit arm of the Musk companies, donating hundreds of millions in grants in four key areas such as research and advocacy for renewable energy, research and advocacy for human space exploration, pediatric research, and science education.

What we like about Tesla auto insurance

When Elon Musk, the founder of Tesla, discovered that there was a discrepancy with the higher insurance premiums for Tesla cars, he did what he did best – invented a new way to shop directly from the manufacturer to get the savings maximize. Nobody understands the intricacies of Tesla’s electronics and makeup better than Tesla.

[Read: The Best Car Insurance Companies]

Autonomous vehicle protection package

If your Tesla is equipped with self-driving equipment, you can add the Autonomous Vehicle Protection Package to your policy. This includes liability insurance for autonomous vehicle owners. This includes additional coverage for a charger, electronic key exchanges, and identity fraud.

Fast online quote and purchase options

It’s not surprising that a company like Tesla would rely on the latest technology to provide consumers with a quick online option to purchase. You can also request a quote from Tesla Insurance online

Who should get this policy

If you want the autonomous vehicle protection package, Tesla is one of the few insurance companies that offer additional coverage for self-driving cars.

Things to consider

Keep this in mind before you sign on the dotted line.

Limited availability with Tesla

The Tesla auto insurance program has been available for over a year and is only available in California. There is no indication of it being rolled out to any other state by any specific date other than a notice on the Tesla website that reads “Coming Soon.”

Tesla isn’t the underwriter

Tesla doesn’t actually draw its own guidelines – this is currently regulated by Liberty Mutual and State National. There are signs that the Tesla auto insurance segment is growing and potentially becoming the insurer of its policies. When Tesla becomes its own underwriter, you can expect more in-depth coverage of a Tesla’s innovative capabilities.

Who shouldn’t get this policy

If you live anywhere other than California, you cannot get Tesla auto insurance. If you have another non-Tesla car, you cannot combine it with Tesla auto insurance.

What we analyzed

Our team analyzed various aspects of Tesla auto insurance, including discounts, insurance coverage, customer satisfaction, support and accessibility.

Discounts: Tesla offers a multi-Tesla discount. So if you have more than one in your family, bundling can save you a lot. Since Tesla Insurance only insures Tesla, you are not entitled to discounts on multiple insurance policies, e.g. B. if you bundle your home or tenant insurance with a car policy. Every major insurance carrier offers a bundling discount. So this is important when comparing offers.

Cover: Like other major providers, Tesla offers you and any additional drivers in your family the full range of auto insurance you’d expect. You will find options for liability insurance – for personal injury as well as property damage, for collisions and comprehensive coverage, and for uninsured / underinsured drivers. In addition, Tesla offers gap insurance, a buyback with collision deduction and a deductible against total loss. Where Tesla differs from large corporations is the lack of car ridesharing availability.

Customer satisfaction: Tesla insurance is not included in the latest JD Power 2020 Auto Claims overall customer satisfaction survey, likely due to the short time the insurance has been offered. Overall, reviews on sites like Reddit show that consumers are largely satisfied with the application process and customer service they have received from Tesla.

Support: Support for your Tesla car insurance is available online and by calling the customer service number. There is currently no dedicated app for your car insurance, although you can download a digital copy of your ID online.

Accessibility: You can easily get a quote online from Tesla or call directly. Since there is no agent network, the quickest route is through the website. You can also process claims over the phone or online.

Tesla car insurance against the competition

For this review of Tesla auto insurance, we compared it to other major auto insurance brands. Here is a snapshot of what we found.

Progressive ranks well in terms of its coverage options and discount options. Customer satisfaction with our SimpleScore is 4 out of 5 points.

SimpleScore

4.2 / 5.0

SimpleScore Progressive 4.2

Like Tesla, Progressive offers a full range of coverage options, including GAP coverage and ridesharing. Additionally, Progressive is known for the wide range of discounts it offers, including the Name Your Price tool and Drive Safe and Save discount. Read our full Progressive Review here to learn about the long list of options for your policy and discounts with Progressive.

Geico is one of the top rated auto insurance companies we track at 4.8 out of 5.

Geico is another second largest auto insurer in the US and offers a wide variety of coverage options. The adorable little gecko promises to save you up to 15% off with a variety of discounts. Geico ranks highest overall in the JD Power 2020 US Insurance Shopping Study, while Tesla has not yet been included in many consumer studies. You can read our full Geico review to find out more.

USAA is a rare 5 out of 5 for customer service on the SimpleScore model.

If you’re a member of the military or a veteran, USAA has a large number of coverage and discount options, as well as great customer reviews. USAA also gets high marks for the auto insurance app, making it a great choice for those who want their insurance information always on hand. Check out our full USAA review.

Tesla’s auto insurance rates

The average monthly premium for Tesla third party insurance is $ 211 per month. If you want to know how much Tesla insurance costs, you need to work directly with Tesla to get a quote. Note that all auto insurance quotes are based on your demographics, driving history, and other specific information, so no two quotes are alike.

Currently, Tesla does not offer the telematics option (a Bluetooth-connected app to monitor driving) through the Tesla app, but it’s safe to say that it may be possible in the future. This is a popular feature with other insurance companies to give a consumer an extra discount.

[Read: How Much Car Insurance Do You Need?]

Tesla Insurance online and mobile app

Tesla makes it convenient to get a direct quote to buy and manage your policy online. There is currently no special app for handling your Tesla insurance.

How to Buy Tesla Insurance

Tesla makes it easy to buy. Unlike many auto insurance companies that require you to work through an agent, Tesla lets you shop online or call the company to speak to a licensed agent. Live chat is also available online for customer service.

If you recently bought your Tesla or are waiting for delivery, you can proceed with a quote or a policy purchase as long as you have the chassis number.

We appreciate your feedback on this article and would appreciate your experience with the insurers we recommend. Contact us at [email protected] with comments or questions.

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