Tesla Motors has new insurance which lowers overall costs by factoring in Autopilot Safety

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IsureMyTesla is a comprehensive insurance plan developed in cooperation with Liberty Mutual Insurance Company. Designed for Tesla cars, InsureMyTesla enhances the customer experience with the following benefits:

New Car ReplacementTM – Allows for a brand new car within the first year in case of a total loss1
Rate guaranteed for one year
Genuine Replacement Parts
Optional 24-Hour Roadside Assistance beyond the Tesla Warranty
Optional Rental Car Reimbursement to pay your rental costs for as long as it takes to fix your Tesla
Claims Valet ServiceTM to drop off a rental car at the scene or schedule a swap at an agreed upon time and place

Tesla partners with different insurance companies across the globe to offer InsureMyTesla, which lowers overall insurance costs by factoring in the vehicles’ Autopilot safety features and maintenance costs.

The National Highway Traffic Safety Administration report shows that crash rates for Tesla vehicles are 40% lower since Autopilot was first installed.

Tesla Electric vehicles also generally require less maintenance then regular combustion engine vehicles.

11 thoughts on “Tesla Motors has new insurance which lowers overall costs by factoring in Autopilot Safety”

  1. Interesting news and timing by Libert Mutual. There is much discussion internally on how to make the automotive insurance section profitable, so much so that they’re trying new products (like pet insurance) to prop up sagging revenues. There’s no such thing as a $200 bumper anymore. The cameras and sensors just turned it into a $4000 bumper (quote from a LM regional manager). The conundrum of whether automation will reduce pay outs and who to go after in the event of a loss is currently being discussed at higher levels. Is it possible to bring a lawsuit against a computer?

  3. Makes sense for Tesla to start their own insurance offer since insurance companies consider Teslas dangerous:
    https://www.theverge.com/2017/6/5/15739262/tesla-insurance-premiums-aaa-claim-rate-repair-costs

    “The National Highway Traffic Safety Administration report shows that crash rates for Tesla vehicles are 40% lower since Autopilot was first installed.”

    It’s funny how the cult always refers to that report but never elaborates. The report shows that Teslas with autopilot have lower accident rates than Teslas without autopilot. It does not compare Tesla’s with other car makers!

    • Here is the meat of the article:

      In general, says the Highway Loss Data Institute, luxury vehicles are more expensive to insure because they’re involved in more collisions than other cars (13 percent more) and cost more to repair (about 50 percent more). But Tesla’s vehicles stand out even among this crowd, says the HLDI, with Model X owners filing insurance claims 41 precent more than average, and with these claims costing 89 percent more than average to fix.

      Though it should be pointed out that the words “involved in more collisions than other cars” actually means “the owners make insurance claims more than the owners of other cars”.
      This might well account for the 13% greater numbers for luxury cars in general, though not for the 41% Tesla number.

  5. So then by the same principle, an AI-controlled house could have lower homeowner’s insurance? What other types of insurance could AI lower costs on?

    • Are there many homeowner insurance claims that are related to something that the house did? Isn’t it all storm damage and stuff? What is an AI controlled house going to do about that?

      • I guess it could turn off the stove when you forget to, or perhaps turn off the water when there is a leak.
        Not sure if this would happen often enough to make a difference though.

      • Supervise your life so you don’t keep doing dumb ass things

        Already have a system for that. It’s called a wife.

        But Quis custodiet ipsos custodes?

    • How about a smart credit card that wouldn’t let you buy junk food! It would lower the cost of health care insurance (of course it would cause Libertarians to have a stroke because of the stress it caused them but hey they don’t buy insurance.)

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