First Tesla Insurance Underwriting Slated in Expansion to Oregon and Virginia

Tesla Insurance is currently available in Arizona, California, Illinois, Ohio and Texas. But according to state insurance filings seen by Forbes, expansion is slated for Oregon and Virginia next.

Forbes says Tesla will be underwriting by itself or the first time in Oregon and Virginia, instead of third parties. Tesla General Insurance will do the underwriting in these states.

Tesla also has plans to start its insurance offering in Washington state, has paperwork has also been previously filed there.

Back in January, Tesla CFO Zachary Kirkhorn said 80% of its U.S. customers will be able to purchase auto insurance from the company by the end of 2022.

Tesla Insurance leverages real-time Safety Scores based on driver behaviour, to set monthly premiums. The safer the driver, the lower the premiums, and thusly Tesla Insurance rewards safer drivers.

The Tesla insurance offering is also slated to expand to Europe as well, after a wider U.S. rollout.