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Electronics and Semiconductors

This Auto Insurance Company Wants to Lower Rates for Tesla Self-Driving Cars

10 March 2017

Start-up auto insurance company Root has begun a new service targeting Tesla owners with a premium discount.

Why? Because of Tesla’s Autosteer technology, the first implementation of Tesla’s plan to bring autonomous driving to the mass market.

According to Root, Tesla cars crash less than other vehicles stating a National Highway Traffic Safety Administration report saying the crash rate of Tesla vehicles plummeted almost 40 percent after the technology became available.

The company says it is rewarding this decrease in crash rate by adjusting auto insurance rates above and beyond any good driver discount the company already offers.

Drivers of Tesla vehicles can use the Root App by simply driving their vehicle and the longer a vehicle is on Autosteer-eligible highway miles, the higher the discount the driver receives.

While Root is currently only offering the discount to owners of Tesla cars, it says it will soon be available for all drivers of self-driving cars later in 2017.

Root says it is already planning for the future of mobility and rewarding drivers that include next-generation safety features in cars, including autonomous driving, artificial intelligence and how data from smartphones can drastically improve the way car insurance works.

To contact the author of this article, email Peter.Brown@ieeeglobalspec.com


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