Is State Farm Insurance punishing Tesla Owners?

[dalton108]

My S3 goes 155 mph, my AMG does 220. Not sure how much I want to advertise this to my insurance company. The real solution here is for insurance companies to train us how to drive, according to their parameters - a proper carrot-and-stick approach. I suspect they want these monitoring devices to become mandatory.

They absolutely do and I will never comply with that.

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[FlyShacker]

My S3 goes 155 mph, my AMG does 220. Not sure how much I want to advertise this to my insurance company. The real solution here is for insurance companies to train us how to drive, according to their parameters - a proper carrot-and-stick approach. I suspect they want these monitoring devices to become mandatory.

Not so sure they want the devices to be mandatory. Many people (like a few in this thread) would rather pay more for the luxury to drive however they want. The insurance company is more than happy to collect higher premiums for fast driving as long as the premiums still cover the risk. I think they just offer the monitoring devices for people who are willing to do whatever it takes to lower their insurance rates, including driving like a little ol’ lady. As long as the insurance company has proof (through the device) that you are driving like that and lowering their real risk of insuring you, they still make their margin by giving you a reduced rate for safer driving. It’s a wash for them.

My beef is that I am driving a safer car, under a proven safer computer control (FSD), and yet I might be charged a HIGHER insurance rate because the monitoring device erroneously senses greater risk! That cannot stand! If enough of us have this problem, the Tesla FSD development team will have to get together with the insurance actuaries and iron out a better insurance deal for FSD drivers. After all, we are paying extra to have FSD! If FSD gives us safer driving, we should get lower insurance rates to offset what we pay for FSD!

 

[Docedward]

It’s an insurance business practice- call it a scam or call it smart money- the results the same. Look at Tesla’s accident ratings below- All insurance companies know this and they also know Tesla owners are above average income and less likely insurance shop so they overcharge knowing that the likelihood is that no one will do anything about it. They save $$$ on Tesla and they overcharge them. Double dip until some cries fowl.

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