Last Updated on March 13, 2023 by Rose Morah
You could be wondering whether Tesla insurance is good for you or simply not worth it.
Honestly, this can be hard to determine, especially if you’re going through online reviews to help you decide whether or not to go with it.
This is because there are a ton of bad and good reviews online and hence it’s easy to end up even more confused.
And that’s where this article comes in to help you make the right decision based on the experiences of other Tesla owners.
We are going to be discussing the type of people who are better off going with Tesla insurance and who should avoid it.
Related: Tesla Insurance VS Geico: Which Is Better?
What type of people needs Tesla Insurance?
- People who want an insurance provider that does not care about their past driving record, age, etc.
If you live in a state where Tesla factors your Safety Score for your Tesla insurance premium, then it can be a good option for you.
That’s because if your past driving record or even age affects your insurance rates, this will not be the case for Tesla insurance.
That means you will definitely end up paying less with Tesla insurance compared to other insurance providers.
Additionally, for the first month, they will give you an automatic average driving score of 90, then after that use your monthly driver’s score.
We were given an average score of 90 for the first two months, then thereafter, this was updated to our actual driver score which was 95.
What makes up your driver safety score?
These are things like hard braking, collision warnings, aggressive turning, unsafe followings, forced autopilot disengagement, and late-night driving (from 10 PM to 4 AM).
Where can you find your Tesla safety score?
- Go to Safety Score beta.
- Scroll down to the bottom and open “Daily Details”.
Tesla combines the daily Safety Scores for 1 month (30 days) to calculate your final Safety Score. For more details on how the safety score is calculated and how to improve it, this article breaks it down.
|Tesla insurance is a great option if you have had a bad past record that other insurance providers use to triple the rates.|
- People who are looking for a cheaper insurance provider.
Again, if you live in a state where Tesla uses your driving score, the insurance rates may be cheaper for you if you have good a score.
This means that when you compare the Tesla insurance pricing with other big players, you will notice that Tesla insurance is very cheap.
With a score of 90, it cost us $145, but other insurance providers had quoted between $240 to $300 which was nowhere near the Tesla insurance. That was good savings.
When our driver score increased to over 91, the price reduced to a range of $75 – $115 from $145.
|Take Away |
When your driver score increases then expect your insurance to be cheaper the next month.
You should also note that this does not apply to everyone.
It can end up being major savings for some but not for others. That’s because some people may get better deals from other insurance providers, depending on their location.
Hidden Costs of Owning A Tesla (First-hand Experience).
Should You Buy Or Lease A Tesla?
Pros and Cons Of Owning A Tesla.
Tesla Insurance may not be good for the following types of people
- People who drive a lot at night.
If you drive a lot at night, from 10 pm to 4 am, this will definitely affect your safety score and ultimately what you pay for your monthly insurance.
This means that, if you work late shifts, Tesla insurance might end up being expensive compared to other insurance providers.
Therefore, I recommend getting different quotes from different insurance providers for better rates.
Tesla also recommends that you avoid driving late at night when planning your trips.
- People who don’t want their driving being monitored
Some people prefer to pay more for their insurance as long as their driving is not monitored.
Additionally, some who have opted out of the Tesla insurance prefer not to constantly deal with the anxiety that comes with the Safety Score and the probability of getting increased insurance payments.
- People who get bad safety score
If you get a bad safety score then this means that Tesla insurance will end up being expensive for you.
I know of a guy who got a safety score of 43. Tesla’s insurance premium was around $370 but another insurance provider was charging him $108.
You may also like:
Is The Tesla Extended Warranty Worth It? (Read This Before You Purchase It)
Tesla Battery Replacement Cost (Per Each Model).
How Much Does A Tesla Maintenance Cost? (Tesla Repair Costs).
Apart from the cost of insurance, there are other factors that will determine which insurance provider will be good for you.
A good example is customer service. You may get cheaper rates but if the insurance provider has terrible service when it comes to filling claims, then even if you are saving a few bucks a month, this will not make you feel better.
You wouldn’t want to be ghosted or end up in a nightmare when it comes to filing a claim.
Well, from our experience, we haven’t been in a situation where we had to make any claims on the Tesla insurance. Therefore, we are not in a position to comment on their customer service.
However, based on feedback from others Tesla owners who have experienced Tesla insurance customer service, one thing that kept coming up is their slow response. So be sure to take note of that!