Haris Ashley
Changing your Tesla insurance payment method can be done by calling Tesla Insurance and updating your information over the phone. This is because your insurance payment is not linked to the credit card on your Tesla account. If you receive a new credit card, it is important to contact Tesla Insurance as soon as possible to avoid cancellation of your insurance due to non-payment. Additionally, Tesla Insurance does not appear to allow for updating payment methods through their website or app.
| Characteristics | Values |
|---|---|
| How to change payment method | Call Tesla Insurance |
| Payment methods | Credit card |
| Notice of non-payment | Sent after one failed payment attempt |
| Online access | Disabled if account has lapsed |
| Customer service | Available via phone and email |
| Retroactive credit | Issued to customers in California during the COVID-19 pandemic |
What You'll Learn
Payment methods for Tesla insurance
Tesla Insurance is currently only available to Tesla owners in 12 states: California, Maryland, Minnesota, Nevada, Texas, Utah, Florida, and three others. The service is expected to be made available in Florida soon.
The cost of Tesla insurance varies depending on the model and trim of the car, the location and driving history of the owner, and the amount of coverage chosen. The average cost of car insurance for a Tesla is $3,947 per year, or $329 per month. The cheapest model to insure is the Model Y, with an average rate of $3,057 per year. The most expensive is the Model S, at an average of $4,956 per year.
In California, Tesla Insurance is based on the safety features of the car, and the company states that its insurance can be offered at a lower cost due to the improved safety of its vehicles. In Texas, the insurance is based on 'real-time driving behaviour' and a 'safety score'. This is calculated based on forward collision warnings per 1,000 miles, unsafe following distance, forced autopilot disengagement, and aggressive turning.
The cheapest insurer for Tesla vehicles is Tesla Insurance itself. The typical rate is $2,030 per year across all new Tesla models, which is 49% less than the average rate. A perfect safety score of 100 can save you 37% off the base rate.
To pay for Tesla Insurance, you must provide a credit card. If your credit card is compromised, you will need to call Tesla to update your payment method, as it is not possible to do so online.
In response to the COVID-19 pandemic, Tesla issued a 20% credit to customers of its Insurance program in California. This was applied to insurance premiums paid for March and April 2020.
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Updating payment details
You can also update your payment details by contacting Tesla Account Support. Your Tesla Account includes owner resources, guides, and important updates. Combined with the Tesla app, you can remotely monitor your vehicle, transfer ownership, and make payments.
It is important to note that Tesla Insurance is only available to existing Tesla owners and is currently offered in 12 states. The cost of insurance varies depending on the model and trim of your Tesla, your location, driving history, and the amount of coverage you choose.
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Cancelling Tesla insurance
Cancelling your Tesla insurance policy may be necessary for a variety of reasons, such as switching to a different insurance provider, selling your Tesla, or no longer needing insurance coverage. Here is a step-by-step guide on how to cancel your Tesla insurance:
- Review your insurance policy: Before initiating the cancellation process, carefully review your insurance policy to understand the terms and conditions of cancellation. Pay close attention to any cancellation fees, refunds, or penalties mentioned in the policy.
- Contact Tesla Insurance: The next step is to contact Tesla Insurance directly. You can do this by calling their customer support line at (844) 348-3752. This phone number was provided by Tesla Insurance in one of their emails to customers.
- Provide necessary information: When you call Tesla Insurance, be prepared to provide them with your policy number, vehicle information, and personal details. This information will help them locate your policy and process your cancellation request.
- Follow their cancellation procedure: Each insurance company has its own cancellation procedure, so follow the instructions provided by the Tesla Insurance representative. They may require you to submit a written request, fill out a cancellation form, or provide additional documentation. Make sure to clarify any cancellation fees or refunds that may apply.
- Confirm the cancellation: After completing the necessary steps, confirm the cancellation of your policy. Request a written confirmation or email from Tesla Insurance stating that your policy has been cancelled. This documentation will serve as proof of cancellation and protect you from any future misunderstandings or billing issues.
- Update your Tesla account: Log in to your Tesla account and remove Tesla Insurance from your list of services. This step is important to ensure that you are not accidentally charged for the insurance in the future, especially if your payment method is linked to your Tesla account.
Remember that cancelling your Tesla insurance may impact your overall coverage and protection, so it is essential to carefully consider your insurance needs before proceeding. Additionally, if you plan to drive your vehicle, ensure that you have alternative insurance in place to comply with legal requirements and protect yourself financially.
Tesla insurance customer service
Tesla Insurance is currently only available to Tesla owners in 12 states: California, Maryland, Minnesota, Nevada, Texas, Utah, Florida, and three others. The service uses "real-time driving behaviour" to evaluate premiums based on actual driving, rather than traditional factors like credit score, age, gender, claim history, and driving records. The "safety score" is based on five metrics: forward collision warnings per 1,000 miles, unsafe following distance, forced autopilot disengagement, hard braking (percentage of time), and aggressive turning (percentage of time).
The safety score is calculated daily, and a weighted average based on driving time is calculated over the last 30 days. Tesla Insurance rates are very affordable, with an average annual rate of $2,030 across all new Tesla models, which is 49% less than the average rate. A perfect safety score of 100 can save you 37% off the base rate, with an annual rate of $887 for a new Model 3.
If you need to update your payment method for Tesla Insurance, you must call Tesla Insurance. This is because the insurance payment is not linked to the credit card on your Tesla account. You cannot update your payment method online.
You can contact Tesla Insurance customer service by calling (844) 348-3752.
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Tesla insurance coverage
Tesla Insurance offers competitively priced insurance products and tools that can help you drive safer. The company claims to offer insurance at a lower cost than its competitors, leveraging the advanced technology, safety, and serviceability of its cars.
Tesla bases its insurance premiums on how you drive. The company uses existing technology in its vehicles to track your real-time driving behaviour, with no additional hardware required. This data is used to calculate your "Safety Score", which is then used to determine your premium. The higher your safety score, the lower your premium will be.
Tesla does not consider the following factors when setting car insurance rates:
- Tickets (such as speeding)
- Age
- Gender
- Credit score
- Marital status
Tesla Insurance offers basic insurance, comprehensive liability, and collision packages.
Liability Insurance covers injury or damage that you cause to another person's property.
Personal Injury Protection (PIP) Insurance covers medical bills for you and your passengers after an accident, regardless of who caused it. PIP insurance is only a requirement in 14 states, but it can be added to your policy for additional peace of mind.
Collision Insurance covers damage to your Tesla from a car accident. This type of insurance tends to be more expensive for Teslas than for other vehicles due to the high cost of repairs.
Comprehensive Insurance pays for theft and damage from bad weather.
Additional Tesla Insurance Coverage Options
Tesla offers a few additional coverages that can help you cover expenses related to your vehicle:
- Glass coverage: Covers the cost of repairing or replacing the glass in your Tesla.
- Roadside assistance: Provides emergency roadside services such as towing, fuel delivery, and flat-tire assistance.
- Rental car reimbursement: Pays for a rental car if your Tesla is in the repair shop.
- Gap insurance: Covers the difference between what you owe on a vehicle and what it is worth in the event of a total loss.
Tesla Insurance Discounts
Tesla Insurance offers a variety of discounts to help customers save on their monthly premiums. These discounts vary by state and include:
- Multi-car discount
- Auto loan/lease gap coverage
- Good driver discount
- Elite driver discount
- Group discount for Tesla employees
- Mature driver improvement course discount
- Good student discount
- Anti-theft device discount
- Airbag discount
- Autopilot discount
- Total loss deductible waiver
- Collision deductible buyback
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Frequently asked questions
You can't change your Tesla insurance payment method online. You have to call Tesla Insurance and ask them to update your payment information.
No, you cannot change your Tesla insurance payment method through the Tesla app. You have to call Tesla Insurance and ask them to update your payment information.
No, you cannot change your Tesla insurance payment method through the Tesla website. You have to call Tesla Insurance and ask them to update your payment information.
No, you have to call Tesla Insurance and ask them to update your payment information.
