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18 November 2022Insurance

Tesla puts telemetric insurance in 11th state, now covers 30% of US

Elon Musk’s electric automaker Tesla has rolled out its telemetric insurance offer to its eleventh state, adding insurance to its auto offer in the mid-western state of Minnesota.

The telemetric insurance offer, available to all Model S, Model 3, Model X and Model Y owners, is now available in Arizona, Colorado, Illinois, Maryland, Minnesota, Nevada, Ohio, Oregon, Texas, Utah and Virginia, a patchwork map with only three states of the ten most populous.

But the addition brings the population tally with access to the telemetric insurance to 98.3 million, some 29.6% of the US population accounted for in mid-2021 census estimates.

Tesla also has a garden-variety insurance offer for its clients in the nation's most populous state of California, although the telemetric options are not allowed in that jurisdiction.

Taken together with California, Tesla can now offer insurance in states covering 137.5 million residents or 41.4% of the total US population.

Tesla's telemetric basics come built into each model and a driver's safety score can be adjusted monthly, with a quick knock-on effect for premium rate.

Tesla moved from a white label insurance offer to underwriting its own exposures in a move begun in select states earlier in 2022.

Officials said in April that they hope to have an offer for 80% of US Tesla owners by year-end before looking to take its offer abroad.

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30 November 2022   Nine of eleven states with the Tesla offer have target dates for version 1.2 roll-out.