Insurtech Lemonade launched its Autonomous Car insurance product in Colorado, expanding availability of coverage designed around Tesla’s Full Self-Driving Supervised technology, according to Beinsure.
The product gives Tesla owners 50% off every mile driven using Tesla’s Full Self-Driving Supervised system. Lemonade said its pricing model reflects data showing lower accident risk when drivers use the technology.
Shai Wininger, President and Co-Founder of Lemonade, said the product reduces Tesla ownership costs by cutting insurance prices in half for miles driven with Full Self-Driving Supervised. He said Lemonade’s pricing models use driving data to pass savings to Tesla customers with greater accuracy.
“We’re bringing Lemonade Autonomous Car to Tesla drivers in Colorado. This first-of-its-kind insurance product cuts Tesla’s cost of ownership by slashing insurance prices in half for miles driven with FSD (Supervised),” said Shai Wininger “Tesla’s safe FSD tech reduces the chances of getting into an accident. Our intelligent pricing models see this in the data and can pass real savings, with high precision, on to Tesla customers”.
According to Beinsure, Colorado Tesla drivers now receive quotes through the Lemonade app or Tesla-focused Lemonade website. Customers also receive further savings when bundling car insurance with Lemonade renters, pet or home insurance.
Lemonade continues offering its existing car insurance product for popular vehicles and Tesla models in Arizona, California, Colorado, Illinois, Indiana, Ohio, Oregon, Tennessee, Texas and Washington.
Lemonade sells renters, homeowners, car, pet and life insurance. The company uses artificial intelligence, bots and machine learning across its full-stack insurance carriers in the United States and Europe.
The company operates in the United States, Germany, the Netherlands, France and the UK. Lemonade is a Certified B-Corp and directs unused premiums to nonprofits selected by its customers through its annual Giveback programme.
