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Tesla Insurance review

Updated Mar 09, 2023
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Bottom Line

Tesla drivers who want a nontraditional car insurance option and want to directly impact their own premiums and potentially save on insurance may want to consider Tesla Insurance.

  • Tailored to the needs of electric vehicle drivers

  • Several optional coverage types and discounts available, depending on state

  • Does not factor in typical car insurance criteria like gender, credit score or driving record history

  • Vehicles other than Teslas can be insured as well

  • Not available in every state

  • Only sells car insurance, so no bundling is available

  • Limited contact with a live agent

  • No third-party ratings

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Tesla car insurance

Tesla Insurance is known for its telematics-based car insurance, meaning that real-time driving behavior plays an integral role in calculating car insurance rates. For this reason, Tesla Insurance may be a natural fit for drivers who want to have a direct influence on their car insurance, as the carrier does not use traditional car insurance rating factors like age, gender, claim history and driving record.

Instead, Tesla Insurance calculates a monthly Safety Score that grades five factors when you drive: hard braking, aggressive turning, unsafe following distance, forced autopilot disengagement and forward collision warnings. A higher Safety Score results in lower premiums, while a lower Safety Score could result in more expensive premiums. Other factors that go into Tesla Insurance premiums include which car you drive, where you live, how much you drive and your chosen coverage selections.

While Tesla Insurance offers standard coverage like bodily injury and property damage liability, as well as comprehensive and collision coverage, optional coverage will vary by state. Additionally, depending on state availability, Tesla Insurance may also offer an Autonomous Vehicle Protection Package that could cover expenses like electronic key replacement, loss or damages to the wall charger and incidents when the vehicle is being driven by autopilot.

Tesla Insurance car insurance cost

When it comes to Tesla Insurance, your actual rate will vary depending on how safely you drive and could fluctuate over time.

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Tesla car insurance discounts

Similar to Tesla car insurance, the discount opportunities available to Tesla policyholders depend on the state they live in. Some unique savings options include:

Tesla Insurance car tools and benefits

Tesla Insurance does not offer any additional services.

Tesla Insurance customer satisfaction

Tesla car insurance is not rated by third-party agencies like J.D. Power for customer satisfaction. It also has not received any financial strength ratings from financial ratings agencies like AM Best and Standard & Poor’s. It could be helpful to reach out to existing Tesla car insurance policyholders to learn more about their experience with the carrier.

How to file a claim with Tesla Insurance

Filing a claim with Tesla Insurance is all done through its dedicated mobile app. After opening the app, navigate to your profile icon in the top right-hand corner, then tap “Account,” “Insurance,” and “Claims,” in that order. From there, you’ll be able to submit necessary information like contact details and accident photos.

Tesla Insurance availability

Tesla car insurance is currently only available in the following states:

  • Arizona
  • California (real-time driving behavior is not used when calculating car insurance rates)
  • Colorado
  • Illinois
  • Maryland
  • Nevada
  • Ohio
  • Oregon
  • Texas
  • Utah
  • Virginia

Policies are available to Tesla owners as well as Tesla owners with non-Tesla vehicles. In California, non-Tesla owners may be eligible for a policy.

Other Tesla Insurance perks worth considering

Tesla Insurance does not offer any other product other than car insurance.

Tesla Insurance corporate sustainability

Tesla’s 2021 Impact Report gave an overview of its environmental, social and governance (ESG) efforts made internally in the company over the past year. While the company doesn’t have a dedicated department or charity, Elon Musk’s Musk Foundation makes donations towards five different areas, including pediatric research, STEM education and artificial intelligence.

Bankrate’s Tesla Insurance review provides a comprehensive look at this carrier, but if you’re looking for the best car insurance for your Tesla, it can help to compare other options. Here are some of the best car insurance competitors to think about asking for a car insurance quote:

Tesla Insurance vs. Lemonade

Tesla drivers who want Tesla’s digital-first platform and specialized EV car insurance may want to check out Lemonade. The carrier provides special coverage and discounts specific to EVs and hybrids, and offers emergency charging if your battery drains while on the road and coverage for your wall or portable charger if it breaks. Currently, Lemonade car insurance is only available in Illinois, Ohio and Tennessee.

Learn more: Lemonade Insurance review

Tesla Insurance vs. Root

Drivers who want features like Tesla’s telematics-based car insurance could consider Root car insurance. The carrier has a strict sign-up process — interested drivers are first required to pass a test drive before receiving a coverage offer and quote. However, Root is not available in every state.

Learn more: Root Insurance review

Tesla Insurance vs. Travelers

Travelers offers a specific discount for those who own or lease an electric vehicle. Additionally, the carrier’s IntelliDrive program tracks real-time driving behavior, with potential savings opportunities of between 22 and 40 percent for safe driving. While Travelers car insurance isn’t entirely based on the telematic IntelliDrive program, it is a nationally available insurance carrier.

Learn more: Travelers Insurance review

Is Tesla Insurance a good insurance company?

Tesla Insurance is a relatively new car insurance company, but could fill a need for Tesla drivers who want a different option for car insurance. Tesla drivers may already be using the Tesla app to manage their vehicle and submit service requests, so being able to manage their car insurance through the app as well could be another convenience. Tesla Insurance also doesn’t factor in usual car insurance rating factors like driving history and credit score, instead giving drivers a chance to be rated based on their real-time driving performance.

However, because Tesla Insurance tracks real-time driving behavior, it is also possible for premiums to increase just as much as they could decrease. Additionally, Tesla Insurance may be a better fit for those who are well-versed in car insurance, as the carrier has limited live agent support and no physical locations. Lastly, compared to national car insurance carriers, Tesla is not rated by third-party agencies for either financial strength or customer satisfaction.

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