Tesla updates policy limits

Effective July 31, 2024, Tesla has updated the coverage limits and deductibles for its insurance policies:

• Bodily Injury Coverage: Maximum limits increased post-July 31 to $1,000,000/$1,000,000, compared to lower limits like $500,000/$500,000 before the change.
• Uninsured/Underinsured Bodily Injury: Coverage limits also increased to $1,000,000/$1,000,000 for some policies.
• Property Damage: The $15,000 limit is no longer offered. The $35,000 limit increased to $50,000, the $60,000 limit rose to $100,000, and the $250,000 limit increased to $300,000. The $1,000,000 limit decreased to $500,000.
• Medical Payments: The $500 option has been removed.
• Collision and Comprehensive Deductibles: The minimum deductible is now $500, with some lower options eliminated.
• Rental Reimbursement: Coverage improved from $30/$900 to $45/$1,350 in most cases.
• Additional Changes: The Collision Deductible Buyback and Total Loss Deductible Waiver were removed. The Autonomous Vehicle Protection Package was replaced by the Electric Vehicle Protection Package.

For context:

• The Autonomous Vehicle Protection Package covered incidents involving Tesla’s autonomous or driver-assistance features, such as Smart Summon or Autopilot, ensuring coverage for accidents in autonomous mode.
• The Electric Vehicle Protection Package covers the Tesla wall charger and electronic key replacement