Tesla has now expanded the availability of its real-time data insurance product to Illinois car owners.
It’s now the third state to get Tesla insurance and the second with the latest product based on real-time data from drivers.
Tesla already introduced its own insurance product in California, but it did not use real-time driving data and its own “safety score”, which was its original goal.
Before expanding its insurance product to other markets, the company wanted to build its own Safety Points System, which uses driving data collected in real time from Tesla cars to determine if you are a “good driver” based on things like the number of “front collision warnings” What you get, how much hard braking you do, hard cornering, unsafe tracking distance, and if the autopilot is disengaged with force.
In October, Tesla finally launched a new insurance product based on the safety score in Texas.
The automaker says it expects that those deemed “average” drivers by safety score should save 20% to 40% on their premiums compared to competitors, and those with the safest scores can save 30% to 60%.
In a review of some quotes that compared current premiums for Tesla drivers, it was right or wrong about whether or not it was cheaper, but it appears to make a bigger difference for those who already have a higher premium based on age and gender, which Tesla insists it should not use in Its own premium accounts, unlike other insurance companies.
Also, when quoting and starting the policy for the first time, Tesla assumes a safety score of 90. The monthly premium rate can drop quickly if you improve on this score.
Tesla released an example showing how the premium can change from month to month depending on your score:
Tesla Insurance Expands to Illinois
Now in an update to its website last night, Tesla confirmed that it has expanded the availability of its insurance product to Illinois:
“Tesla Insurance is a competitively priced insurance product that offers comprehensive coverage and claims management to Tesla owners in California, Illinois and Texas and will expand to additional US states in the future.”
The automaker confirmed that Illinois drivers can access the insurance product based on real-time data, such as Texas:
“Get competitive rates in California, Illinois and Texas in less than a minute. Real-time driving behavior-based insurance is now available in Illinois and Texas.”
The insurance regulatory landscape is complex and varies from state to state.
Therefore, Tesla has a lot of work to do to launch it in any new condition, which is slowing down the rollout of the new product.
In October, CEO Elon Musk said Tesla aims to be “in most states” by the end of 2022.
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