Tesla is going to launch as new insurance program

Elon announces an in-house insurance program:

Tesla is going to launch a new insurance program next month, says Elon Musk - Electrek

What caught my eye was this tidbit:

The CEO even hinted that Tesla could know how dangerously people drive their cars and adjust the premiums accordingly.
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BRAVO! it is about time safe drivers had to stop paying increased premiums because of unsafe drivers.. Today I was driving with autopilot on I 10 at 70 mph speed limit. The flow of traffic was 15/20 mph faster. A CHP cruiser was sitting on the side of the freeway, nose out. Traffic immediately slowed to a crawl at 70 mph. They knew exactly what they were doing!

This applies to Tesla drivers too. As a speed limit driver, in four months, I have only passed about two Teslas on the freeway. Tesla drivers speed too. Tesla can access your driving profile if they are going to cover you for insurance. I hope they pay higher insurance premiums too. Yep, big brother and I welcome it.

Bring on the flame throwers.

 

Autopilot has nothing to do with monitoring your driving habits, it has to do with sending feedback through Tesla on-board OTA electronics.

In my opinion, if you sign up for Tesla's insurance program in order to obtain potentially lower premiums, you will have to sign a waiver that allows Tesla to access and use your driving profile to determine the cost of your premiums. If you drive safely, you will enjoy potentially lower premiums. If you do not drive safely, you will pay for it in higher premiums.

I have used Geico for years and enjoy low premiums already. My model 3 costs me less than $1000 per year for full coverage on every option Geico offers. I doubt Tesla insurance will save me money.

 

I don't know about your State, but big rigs in Californation consistently drive 10 to 15 miles over the speed limit which is 55 mph.....and nothing is done about it. Yes, they have on-board monitoring systems that report back to their parent company, but most companies don't give a sugar about what their drivers do as long as it maximizes the company's bottom line. Most long haul drivers are paid per mile driven. The faster they drive, the more they make per hour. The difference in driving 55 mph and 70 mph equals a 25% increase in pay.

 

It depends on your age, the number of miles driven, where you live, driving history (infractions), etc. I shopped around and Geico was the least expensive for me in my particular and specific circumstances. YMMV.

 

Nope, the onboard systems in a Tesla currently track some of the owners habits to teach and learn the neural net how a human would drive a car. Also there is currently an interior camera whose function is unclear at this time or if it is even functional. The systems are all there and I am comfortable with them.

 

From Electrek this morning:

The document also shows that Tesla plans to offer different rates for drivers using its Autopilot technology. The filing specifically says that it will cover policies for “autos with Advanced Driver Assistance Systems (ADAS) in the State of California.”

Tesla has long been claiming that driving with Autopilot is safer than without and therefore, it is believed that the automaker will offer premium discounts to owners who have Autopilot as part of this new insurance program.

Furthermore, the filing describes how they plan to use the fact that Tesla’s vehicles are always connected and collecting data:

“State National further explains the program’s use of Tesla technology to provide benefits back to the insurance consumer, “The purpose of the product is to use Tesla’s proprietary technology to lower costs and improve the customer experience by embedded technology to support the underwriting, rating, claims, repair, and product manufacturing network, including direct data feeds with customer permission, when required, that eliminate frictional costs and inefficiencies inherent in traditional insurance processes.”

Between this and Autopilot, it is expected to that Tesla’s new program will lower the rates, which have been quite high on Tesla vehicles.
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I wager that Tesla will not only require that you have Autopilot, but use Autopilot in order to qualify for lower premiums. And I think it will soon require that FSD be used also. This is good news. Tesla is indicating they have a lot of confidence in their Autopilot and FSD systems if used as directed. Too many people have been in accidents and blamed Autopilot for the incident. Now Tesla will be able to use the interior camera to monitor driver behavior prior to an accident and it can monitor how a driver is using Autopilot and FSD through telemetry. Some Tesla owners on this forum are trying to force their car into Autopilot mode on city streets. This is a no-no. Tesla warns that Autopilot should be used on highways only. Use on city streets will come in future updates, but it is not quite ready yet. Tesla can monitor how you use Autopilot and any misuse of the systems will invalidate insurance claims, which will lower premiums for everyone. Yes, good news.