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.
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.
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.