Tesla insurance offers rates based on real-time driving behavior, and the company is now looking to take its plans into its own hands in Texas.
A filing shared by @Sawyer Merritt shows that Tesla will begin underwriting its own insurance plans in Texas, after it expanded its insurance policies to the state in October 2021.
Tesla was previously offering its real-time driving insurance program through Redpoint County Mutual Insurance, and it currently has over 11,000 policyholders.
Now, the automaker plans to offer updated policies to users who don’t renew with the Redpoint plan, effective on March 1, 2023.
Tesla App Now Shows Miles Driven on Autopilot for FSD Beta, Tesla Insurance https://t.co/lMilnJSgBT
— TeslaNorth.com (@RealTeslaNorth) August 31, 2022
Another user in the thread pointed out hopes that the move to underwrite its own insurance plans would help speed up the process of rolling out the program in other states.
Tesla insurance most recently expanded to Minnesota, representing the 12th U.S. state in which drivers can enroll in the program.
While Tesla’s insurance program is also available in California, state law prohibits the use of real-time telemetrics for insurance, meaning the company’s real-time driving behavior measurements and safety scores can only be used for “educational purposes” rather than for determining rates.
The first Tesla underwriting insurance plans landed in Oregon and Virginia last March, as performed by the company’s arm Tesla General Insurance.
