The Tesla auto brand is marketing auto insurance in Texas that calculates the buyer’s premium payment using their behavior in real time thanks to the software installed in the vehicle. The funny thing is that his method of calculating the value of the policy and the premiums does not have to do with the characteristics that an insurance company normally takes into account when calculating them.
The Tesla insurer has made a system, which is currently in its Beta version, its latest version of autonomous driving, Full Self Driving Beta (FSD Beta), which evaluates the insured’s driving and awards or disqualifies them with aspects. For example, after each risk of accident, each forced disconnection of the autopilot will affect the score that is taken into account to calculate the values.
If the Tesla driver, while driving, does not keep the required distance between vehicles, brakes too hard, or turns aggressively, he may lose score.
The other novelty of the system is that the monthly premium for tesla auto insurance will vary depending on the correct use of the vehicle and respect for safety regulations. It can be higher or lower than the premiums charged by a classic insurer and this depends directly on consumer behavior
According to Tesla, an average driver could save 20% to 40% on their premium. And those with more secure scores would save even up to 60%. It all depends on your behavior on the road.
Apparently this kind of contract would suit those truly exemplary drivers and will affect the most distracted ones. People who disagree with this new form of insurance argue that it could harm even exemplary drivers, because life often consists of running late and speeding down an empty road. It should be noted that if you have contracted the new Tesla insurance, that acceleration will be registered and would automatically raise the cost of the premium, so apparently setting the alarm clock can positively adjust your bank account balances.
There is no doubt that the internet of things is revolutionizing the insurance industry and new technologies remain more and more present, such as our portal to request personal and commercial auto policies from a distance and our completely online service.