Automotive company Tesla is now offering a new insurance product for its customers in Texas – the state where CEO Elon Musk says his company will be moving its headquarters to from California.
The new insurance product, available only in Texas for the time being, uses “real-time driving behavior” to determine customers’ insurance rates. This sets it apart from the previous insurance product Tesla offered in California, which did not use drivers’ real-time data. The insurance product, however, will continue to use Tesla’s “safety score” system, which takes note of metrics such as aggressive turning, hard braking, and unsafe following distance into consideration when pricing a driver’s insurance costs.
