All Updates

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Product updates
Geographic expansion
Tesla launches new usage-based insurance offering in Texas
InsurTech: Personal Lines
Oct 15, 2021
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InsurTech: Personal Lines

InsurTech: Personal Lines

Oct 15, 2021

Tesla launches new usage-based insurance offering in Texas

Product updates
Geographic expansion

  • Tesla has announced the launch of its usage-based insurance (UBI) offering in Texas. The launch comes around two years after the company first debuted its car insurance offering in California. 

  • The company’s car insurance offering in Texas is the company's first UBI offering. It will calculate car insurance premiums based on the real-time driving behavior of its policyholders, collected by inbuilt sensors, and will not factor in metrics such as age, gender, claims history, or past driving records. This will be assessed by calculating “safety scores” that will factor in various conditions that the driver faces on the road, and premiums payable every month may vary depending on their scores. 

  • The new UBI offering will be available to owners of Tesla’s Model S, Model 3, Model X, and Model Y in Texas. 

  • Going forward, the company also intends to roll out its UBI offering in California, subject to regulatory approval. 

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