Tesla Insurance has taken another leap forward and is expanding to Maryland and Utah. To date, the manufacturer now offers service in 11 US states, with more to come.
Tesla continues to roll out its insurance product to new states in the US. Two new states have now been added to the existing ones of California, Arizona, Texas, Illinois, Ohio, Oregon, Virginia, Colorado, and Nevada. The new states include Maryland and Utah, which have been waiting for the product to hit the market for a long time. Thus, today, Tesla offers insurance in 11 US states. In addition, it became known that the company is awaiting approval for expansion in Georgia, Florida, and New Jersey.
Meanwhile, Tesla customers express great satisfaction with their monthly Tesla Insurance payments, which in some cases are 60% lower than they had paid with previous insurers. With real-time data, Tesla is trying to do something good for its customers, save people money, and make roads safer, according to Tesla CFO Zachary Kirkhorn.
Elon Musk also explained that real-time data provide feedback to Tesla. This is how the company sees if there is an accident, whether it is large or small, and what are its causes. This allows them to think about how they can change the design of the car or software to minimize the likelihood of a particular accident. Musk said:
“Most accidents are minor, but how do you have those accidents occur less frequently? And how do we make the repair associated with that accident super-fast? Like, aspirationally, it would be a same-day repair of a collision, which is night and day difference compared to sometimes having to wait for a month while insurance claims are settled and figured out – because Tesla is also doing collision repair.”
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.