Tesla to launch car insurance

By Charlotte Whyatt - Fri 26th Apr 2019
Tesla to launch car insurance

Electric car manufacturer Tesla is developing its own car insurance product. 

CEO Elon Musk confirmed the news during a phone call to analysts at Tech Crunch stating “it will be much more compelling than anything else out there.”

He stated it’ll mainly rely on their advanced Autopilot system, which works to render their vehicles semi-independent by using a sophisticated network of cameras and radar sensors to navigate the road. 

It can currently steer on a motorway or dual carriageway, automatically change lanes and take evasive action by swerving away from any vehicle that comes to close. 

This will collect data about your style of driving and that in turn will be used to generate a driver risk profile and create an appropriate insurance policy. 

Autopilot is already used to provide this type of data in the company’s own InsureMyTesla scheme and by third-party insurers like Root to keep costs down. 

Musk didn’t give an exact figure on what a policy might cost or exactly when it’ll be commercially available, giving only a vague date of next month. 

Source: Tech Crunch