Key Takeaways
1. Tesla’s Full Self-Driving (FSD) system has a significantly lower collision rate compared to the U.S. average and other driving methods.
2. FSD leads to seven times fewer major accidents and five times fewer incidents on highways than basic Autopilot or no driver-assist features.
3. Lemonade, an AI-driven insurance provider, is launching an insurance product specifically for autonomous vehicles, citing Tesla’s FSD safety record.
4. Lemonade’s analysis shows a 50% reduction in average insurance premiums for miles driven with Tesla’s FSD compared to human drivers.
5. The new Lemonade Autonomous Car insurance will start on January 26 in Arizona, with plans for expansion to Oregon.
According to Tesla’s own Full Self-Driving (Supervised) Vehicle Safety Report, when the FSD driver-assist system is active, the rate of collisions—both major and minor—is significantly lower than the U.S. average.
Safety Comparison
The FSD system is also safer compared to driving a Tesla using basic Autopilot or without any driver-assist features, as per the same data. Tesla asserts that the FSD system leads to seven times fewer major or minor accidents, and five times fewer incidents on highways.
To put it in perspective, there is one major collision for every five million miles driven with FSD, while the U.S. average stands at one collision for every 699,000 miles for all types of vehicles, which includes both electric and internal combustion engine cars. Although some question the accuracy of these claims and the NHTSA is looking into accidents involving Tesla’s driver-assist features, insurance companies are starting to notice these trends.
New Insurance Initiative
Lemonade, an insurance provider that describes itself as powered by AI, credits Tesla’s FSD safety record for its decision to launch an insurance product aimed at autonomous vehicles. This new offering is touted as a “first-of-its-kind” insurance solution tailored specifically for self-driving cars.
As per Lemonade’s AI-driven analysis, the accident rate drops considerably when Tesla’s FSD is in control compared to human drivers. This safety advantage has enabled Lemonade to cut its average insurance premium by 50% for miles driven with FSD.
Collaboration with Tesla
Lemonade states that its pay-per-mile insurance model has provided an edge that traditional insurers lack: advanced technology for gathering extensive real-world driving data, allowing for accurate and adaptable pricing. They have introduced this new Autonomous Car insurance in partnership with Tesla, utilizing the latest undisclosed FSD safety metrics.
Tesla has been working to incorporate its impressive FSD safety statistics into its insurance offerings, but this marks the first occasion where a third-party insurer is slashing premiums by half for FSD miles with a product focused on autonomous vehicles. It will be interesting to see if Tesla will use Lemonade’s insurance for its upcoming driverless Cybercab, which won’t have pedals or a steering wheel, once it becomes part of the Robotaxi fleet in 2026.
The Lemonade Autonomous Car insurance will launch on January 26, starting in Arizona and then expanding to Oregon. Tesla drivers can receive quotes for their new FSD-dependent premiums in just a few seconds via the app or the online platform.
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