How to shop and save
If you’re a Tesla owner, you may be enjoying the savings on gas, but you might be in for a surprise when it comes to buying car insurance. Auto insurance for electric vehicles like Teslas tends to be more expensive than for gas-powered cars. This is because EVs are often more costly to repair and replace, leading to higher insurance claims and ultimately higher insurance rates for these models.
It’s essential to be proactive when choosing an insurance company, especially when insuring a Tesla. Comparison shopping is crucial, and in some states, this includes obtaining a car insurance quote from Tesla itself. Tesla started offering car insurance in California in 2019 and has since expanded to 11 other states.
Tesla Insurance offers a comprehensive range of standard coverage options, including liability, uninsured/underinsured motorist coverage, medical payment, personal injury protection, and collision and comprehensive insurance. Additional options such as rental reimbursement, roadside assistance coverage, and auto loan/lease gap coverage are also available.
One unique feature of Tesla Insurance is the “Tesla Real-Time Insurance” program, available in most states where the company operates. This program uses driving behavior data from your Tesla to determine your Safety Score, which is then used to adjust your monthly premium based on your driving habits and mileage.
Tesla vehicles are equipped with sensors and software to track driving behavior, eliminating the need for plug-in equipment. However, in California, policies are not based on real-time driving behavior, although Safety Scores can still be viewed in the Tesla app.
When it comes to discounts, Tesla Insurance offers various options, including discounts for airbags, anti-theft devices, defensive driving courses, and more. Some discounts are state-specific, so it’s essential to check which ones apply in your area.
While Tesla Insurance has its advantages, it is only available in 12 states, which may limit options for some drivers. Additionally, monthly premium fluctuations based on driving behavior can make budgeting for insurance challenging.
Ultimately, the best way to find the right car insurance for your Tesla is to shop around, compare quotes from multiple companies, and consider factors such as coverage options, discounts, and customer service. By doing your research and selecting the insurance company that best fits your needs, you can ensure your Tesla is adequately protected on the road.
