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December 9, 2017 02:00 am

Insurers Are Rewarding Tesla Owners For Using Autopilot

Britain's largest auto insurance company Direct Line is testing out an idea to let Tesla owners receive a 5% discount for switching on the car's autopilot system, seeking to encourage use of a system it hopes will cut down on accidents. Reuters reports: The move - confirmed by company representatives in response to Reuters' questions - is Tesla's only tie-up in the UK and comes at a time when the company is trying to convince insurers that its internet-connected vehicles are statistically safer. Direct Line said it was too early to say whether the use of the autopilot system produced a safety record that justified lower premiums. It said it was charging less to encourage use of the system and aid research. "Crash rates across all Tesla models have fallen by 40 percent since the introduction of the autopilot system ... However, when owners seek to insure their Tesla vehicles, this is not reflected in the pricing of premiums," Daniel Pearce, Financial Analyst at GlobalData, said. Direct Line, which is enjoying soaring motor insurance prices in Britain, said it sets premiums for Tesla drivers based on the risk they present, including who is driving, their age, driving experience and claim history.

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