Tesla Insurance Options Pick Up Steam
The company plans to offer insurance coverage to 80% of the U.S., before taking its insurance offering international.
Elon Musk
Wikipedia
Tesla has long operated outside of the realm of most automotive companies, offering a suite of unique products that no one else has. Now the ground-breaking company plans to expand its offering of Tesla Insurance.
Tesla’s insurance offering is currently available in just eight states, including California, Illinois and Texas. During the last earnings call, Tesla reported it had become the second-largest insurer of its cars in the Lone Star State. Eventually, the company will offer coverage to 80% of the U.S., then it will take this offering international.
“The car insurance industry is incredibly inefficient,” Tesla CEO and Founder Elon Musk told attendees of the All-In Summit in Miami. “You’ve got so many middle entities, from insurance agents all the way to the final reinsurer. There’s like a half-dozen companies each taking a cut.”
Tesla bases its insurance premiums on real-time driving data to compile a monthly safety score.
Five factors impact this safety score: forward collision warnings per 1,000 miles, hard braking, aggressive turning, unsafe following and forced Autopilot disengagement.
The company sets the Safety Score at 90 when customers first sign up. But adjusts premiums monthly based on a driver’s Safety Score. The higher the score, the lower the premium.
Originally posted on Auto Dealer Today
More F&I
Why Your F&I PVR Is Misleading You
Here’s a handy checklist of the numbers to track in 2026 instead.
Read More →
Auto Consumer Anxiety Presents Opportunity
A survey of U.S. drivers found the majority are concerned about finances and the economy, but those fears make many ready to buy vehicle-protection products.
Read More →
Humble and Hungry: 12 Rules for an F&I Life
Dustin Gingerich, with a decade in the F&I business under his belt, shares his thoughts on leadership, building trust with customers, and the importance of learning and innovation.
Read More →
Focus on the Opening
F&I managers must learn as much as possible about their customers, starting before they walk into their offices. The bulk of today’s consumers expect that, and good results will follow.
Read More →
F&I Reaches for the Sky
The increasingly important profit center continued making gains in the first quarter, according to StoneEagle data, ancillary products proving more popular as consumers hold onto their buys longer.
Read More →
Timing the Market Can Hurt Long-Term Program Performance
For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
Read More →
The 90/10 Rule
In this video, Ryan Ruff explains the rule that elite sales professionals use to turn ordinary conversations into unforgettable customer experiences.
Read More →
Your Office Is Talking
What’s the atmosphere saying about you to your customers? You can make minor adjustments and additions that transform your space into one that creates trust with the people on the other side of the desk.
Read More →
F&I Training Fundamentals
How can auto dealerships help F&I managers fulfill their vital role in the most effective ways? Industry expert Rick McCormick shares his insights on the best ways to train these professionals and help them maintain good habits.
Read More →
Not Just Any Tire Will Do
More consumers and businesses are opting for all-season options for various reasons as safety, sustainability and convenience push practical change.
Read More →