I’ve always wondered, if cars got safer will insurance rates go down? (Or will we be stuck paying the insurance companies the same thing).

 

But now that seems more or less unlikely because Tesla has just released their own car insurance (yeah) and they’re on the verge to turn the car insurance world upside down.

 

 

 

 

Tesla has created a customized insurance package called InsureMyTesla.

 

Tesla has partnered with Liberty Mutual to create a customized insurance package called InsureMyTesla.

 

And of course as how its name suggests, it’s specifically designed for Tesla vehicles.

 

 

 

 

It factors in your Tesla’s Autopilot safety features and maintenance costs to make it cheaper.

 

 

 

 

It has already been made available in 20 countries, but only now has Tesla made available in the US.

 

Before today, Tesla had already made InsureMyTesla available in 20 other countries including Hong Kong and Australia.

 

The electric vehicle maker works together with many different insurance companies across the world to offer InsureMyTesla.

 

 

 

 

Elon shows how the insurance industry is flawed as cars get safer with self-driving tech.

 

Tesla’s CEO Elon Musk has said that insurance companies need to adjust their prices for Tesla vehicles because the vehicles come with AutoPilot assistance.

 

Even the National Highway Traffic Safety Administration have found that crash rates for Tesla vehicles have plummeted by 40% ever since AutoPilot was first installed.

 

tesla creates insuremytesla car insurance program
US Department of Transportation

 

 

 

 

And Musk has always said that,

 

If we find that insurance providers are not matching the insurance proportionate to the risk of the car, then if we need to, we will in-source it.