During the conference call that accompanies Tesla’s results like every quarter, CEO Elon Musk once again revealed some interesting news. For example, it wants to expand its own insurance product, with some interesting new functions.
In California it is also possible to insure your Tesla with its maker. A pilot has been running in the home state since 2019, but according to Musk, that should result in a large insurer within the foreseeable future.
Interestingly, Tesla plans to use the data collected by the cars for insurance purposes. Business Insider reports that Musk ‘ultimately’ wants to be able to include the driving behavior of a certain Tesla driver in the premium determination.
As with insurers who already use a similar construction via an OBD plug, a discount for safe drivers and a higher premium for people who have a sporty driving style can be considered.
It seems a bit contradictory to first market cars that shoot from 0 to 100 in 2.5 counts, then ‘punish’ owners if they use that opportunity regularly. Musk therefore wisely focuses on the potential benefit. In his ideal image, this is not just a calculation afterwards, but it should also be possible to point out preventive drivers to matters that would lower the premium.
We do not yet have to expect a worldwide roll-out. Tesla Insurance first expands to a number of other U.S. states, then becomes available across the U.S. What happens next is still unclear.