The electric carmaker insists that the tally is being used exclusively for “educational purposes.” Tesla Insurance recently announced that it has rolled out its controversial driver safety score to its customers in California, the largest market for the coverage. The score is based on real-time tracking of driver behaviors while using the vehicle. According to Tesla Insurance, the driver safety score’s purpose is for education only, and that it will not impact driver premiums for the moment. The electric automaker has been selling its coverage in California for some time…
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Tesla auto insurance rolls out in Texas
The electric vehicle company has announced that its customers can now purchase coverage from them. Tesla auto insurance products are now available for the company’s electric vehicle customers in Texas. CEO Elon Musk recently announced that the company will be moving from California to Texas. The new Tesla auto insurance product is being added exclusively to Texas, though the company plans to expand into other states as well. The policy uses “real-time driving behavior” to help better understand a driver’s real risk level and therefore more accurate insurance rates. This…
Read MoreTexas auto insurance claims filed by the thousands, and they’re just getting started
Insurers covering vehicles in areas affected by Hurricane Harvey expect hundreds of thousands of claims. Auto insurance claims have already started filing in as a result of Hurricane Harvey, but despite the high numbers, they’re just getting started. Insurance companies throughout the affected regions are bracing for hundreds of thousands more. In fact, as of last Thursday, the 100,000 mark had already been passed. “We do know that approximately 100,000 claims have come in,” said the Insurance Council of Texas manager of governmental and regulatory communications, Matt Stillwell. That trade…
Read MoreNew law in Texas makes changes to auto insurance requirements
New law targets ride-share companies, requiring them to have more insurance coverage A new law in Texas will require drivers for both Lyft and Uber to have more auto insurance coverage. The law also applies to all Transportation Network Companies and is meant to address concerns regarding a gap in auto insurance for drivers. Previous to the law, drivers were required to have a minimum of $30,000 per person injured in an accident, $60,000 per accident, and $25,000 in property damage per accident. Typically, this degree of coverage was enough…
Read MoreDrivers may be paying too much for auto insurance coverage
Survey suggests that drivers are paying more than they should for insurance coverage Many drivers in the United States may be paying too much for auto insurance coverage, according to a survey from NerdWallet. The survey drew information from 1,000 zip codes throughout the country, including the average rates that insurance companies charge for covering drivers and their vehicles. The survey found that, on average, prices in auto insurance coverage varied by 154% based on zip code. NerdWallet suggests that those shopping around for coverage could find significant savings. Drivers…
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