Tesla files for a rate increase in Oregon
After requesting a 30% rate increase in Maryland, Tesla’s insurance subsidiary, Tesla General Insurance, has filed for an overall rate increase of 24.5% in the state of Oregon.
Tesla started offering insurance in Oregon on April 18, 2022. According to the filing, 937 policyholders will be impacted by this rate increase request. Written premium for the current program is ~$657k.
“Based on competitor rate activity and the inflationary environment that has persisted since our initial submission, we are proposing to target a higher rate level than originally submitted. The revised target rate level is still well within competitor rate levels that have been on-leveled to their most recent indicated rate.” – Tesla.