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Tuesday, 12 October 2021 17:42

Tesla Insurance Going Live in Texas

Written by Joey Klender, Teslarati

Index

...some kind of update that would make it a “real-time” insurance option. This aligns with the company’s rollout of the Safety Score Beta, which grades drivers on their driving behaviors.

 

Earlier that week, Musk said the Safety Score Beta would be continuously refined until it would be a relative predictor of crash probability. Basically, the higher the score, the better the insurance rate would be, making it much like Allstate’s safe driving program that slashes rates for those with safe driving behaviors.

 

Tesla Insurance works hand-in-hand with the company’s advantages of being vertically integrated. Tesla’s full understanding of its cars from the ground up, including software, would allow it to not only cut costs when dealing with claims but it also allows consumers to have significantly lower rates than those that large insurance companies offer.

 

We thank Teslarati for reprint permission.

 

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