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Sarah George is a writer at Finder who unravels complicated topics about insurance, business and finance. She especially loves breaking down car insurance into simple terms that everyone can understand.
Sarah has been wordsmithing for the better part of three years after graduating with a B.S. in English Education. In her free time, Sarah's usually sipping hot tea and talking through movie plots with her husband.
What car insurance coverage does InsureMyTesla offer?
Tesla is stepping into the insurance game. Although only some options are listed on its Liberty Mutual partner page, you can expect standard coverage.
Property damage liability. Pay for vehicle and property damage to the other person involved in an accident you cause.
Bodily injury liability. Make sure other drivers and passengers get their medical bills covered.
Uninsured/underinsured motorist. Cover you and your Tesla for physical damage and injuries should the driver at fault not carry enough insurance.
Medical payments. Take care of medical bills for you and your passengers, no matter who’s at fault for the collision.
Collision. Take care of physical damage repairs. Usually applies during an at-fault situation.
Comprehensive. Protect your ride from all types of accidents, including theft, weather damage or hitting an animal.
What extra benefits and add-ons does InsureMyTesla offer?
The company offers multiple benefits for insuring through its own program. However, these benefits look similar to current Liberty Mutual offerings.
Accident forgiveness. Earn this reward through safe driving and an accident-free history, and you won’t see a rate increase if an accident happens.
12-month rate guarantee. While many insurers hike up electric car rates, InsureMyTesla locks yours in for a full year.
New car replacement. Get your 1-year-old Tesla replaced with the same model and year, without factoring in depreciation. Must have less than 15,000 miles on it.
Better car replacement. Choose this add-on to replace your car with one that’s one model year newer if your car is totaled.
Genuine replacement parts. Ensure you keep your Tesla original with manufacturer-specific parts.
Loss of wages. Opt for coverage for lost income due to accident-related injuries.
Roadside assistance. Get help with roadside needs 24/7, beyond Tesla’s standard coverage. This may be especially helpful when Tesla’s warranty runs out.
Employee parking. Protect your Tesla and your belongings from damage while parked at your workplace.
Rental car reimbursement. Get the cost of a rental car covered while your car is in the shop.
Deductible fund. Pay toward your deductible now so it’s less of a surprise later.
What discounts can I get with InsureMyTesla?
Tesla’s insurer offers several discounts you might qualify for, including:
Safety features. The company offers discounts for the usual antitheft system and antilock brakes, as well as having electronic stability control and a rearview camera.
Multicar discount. Own multiple Teslas? Save money by insuring all your cars under this brand.
Driver tracking. Save up to 30% by tracking your driving habits for 90 days through your smartphone. Safe drivers get rewarded.
Military. Get a premium cut if you’re active, retired or reserved U.S. Armed Forces.
Pros and cons of InsureMyTesla car insurance
Pros
One-stop shop. Leave it to Tesla to rethink insurance by combining the buying and purchase process.
Guaranteed rates. Your environmentally-friendly vehicle gets the locked-in rates it deserves for a full 12 months.
Pro-electric company. While many insurers don’t factor in your EV’s improved safety, Tesla accounts for it in its own rates.
Cons
Similar benefits to competitors. Besides special partner rates, InsureMyTesla offers few benefits that stand apart from its competitors.
Brand new service. New services mean the company may be smoothing out the bumps in its coverage and claims process. However, Tesla’s partner is an experienced insurer.
Limited coverage information. Service details and information are hard to find until you begin the quote process.
Mixed customer reviews. Tesla owners on forums give mixed reviews about pricing and coverage, and many opt for coverage elsewhere.
Alternatives to InsureMyTesla
How to apply for InsureMyTesla car insurance
To get started with InsureMyTesla, you can get a quote online or by calling 800-699-5860. For online:
Start a quote on the Liberty Mutual partner page by entering your ZIP code. Choose Auto and other bundled policy needs and click Get a quote.
Fill in your personal information and click Save & continue.
Enter vehicle and driver details. Click Save & continue.
Choose coverage and receive your quote.
Fill in payment information and finalize your policy.
What info do I need to apply?
Make the quoting process quick and easy with several key pieces of information:
Home address, phone number and email
Vehicle model and license plate number or VIN
Driving record
Coverage needs
Bank account or credit card information
How to make a claim with InsureMyTesla
To make a claim, you’ll need to contact Liberty Mutual either online, by phone or via the mobile app.
Online. Log into your customer account to file your auto claim 24/7.
Phone. Get in touch with a Liberty Mutual representative at 844-825-2467.
App. Report accident details at your convenience directly from your phone.
Bottom line
Tesla formulated a futuristic idea of car buying and insuring in one place. Although the service offers multiple coverage options, it appears to have fewer benefits different from its competitors and has received mixed customer reviews
Frequently asked questions about InsureMyTesla car insurance
Business Insider and other outlets reported Tesla CEO Elon Musk said the company aims to make sure its insurance factors in features that have improved safety for Tesla drivers.
Yes, Teslas generally cost more to insure, which may be due to their specialized parts and high car value.
Teslas cost more to insure than its gasoline counterparts. For example, as of April 2019 the Tesla Model S and X both cost about $227 per month or $2,724 per year. That cost is over $1,400 per year above average.
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