Yes, you read that right.
Announced on March 9, Columbus, Ohio-based company announced on March 9, Columbus, Ohio-based company Root Insurance is now offering auto insurance discounts for Telsa owners using the Autosteer feature. Autosteer is the flagship feature of autopilot that keeps Telsa cars performing by itself on the highway even when approaching obstacles like traffic and approaching curves.
This discount was introduced after a recent study found that Telsa's Autosteer functionality has slashed crash rates for its cars by a whopping 40%!
To receive this discount Tesla drivers must download the Root app and conduct a test drive with Autosteer activated. The insurance agency will then offer a tiered discount based on the number of miles driven. The more owners use the autopilot feature, the more they will save.
Tesla has also been experimenting this idea in foreign markets, Hong Kong and Australia to be specific, and partnering with insurance companies to include insurance into the final price.
According to a recent KPMG report the personal auto insurance industry could shrink immensely, approximately 40%, over the next 25 years due to self-driving cars.
Ultimately, it’s a smart way to encourage Tesla owners to switch insurance companies. But it also speaks to a much larger disruption: as cars become safer with autonomous tech, insurance premiums will have to fall.
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