Tesla’s licensed carriers report 2025 results

Tesla’s three licensed carriers have reported their financial results for 2025.

Tesla Property & Casualty, which offers coverage in CO, MD, FL, MN, OH, TX, and UT, increased written premiums by 25% YoY to $201.5 million while improving underwriting performance with a net underwriting gain of $33.8 million, compared to a loss of $24.8 million in 2024.

Tesla General Insurance, which offers coverage in AZ, NV, OR, and VA, more than doubled written premiums to $102.9 million while also improving underwriting performance – the carrier reported a net underwriting gain of $7.7 million, compared to a loss of $10.8 million in 2024.

Tesla Insurance Company, which offers coverage in California and Illinois, generated $732.5 million in written premiums, compared to $105.9 million in 2024. The carrier reported a net underwriting loss of $188.6 million, compared to a loss of $32.9 million in 2024.

The Tesla program through State National generated $328.8 million in written premiums, down from $654 million in 2024. Tesla has been encouraging State National policyholders to move to Tesla Insurance Company’s program.