Tesla files new insurance program in Texas

Tesla’s insurance subsidiary, Tesla Property & Casualty, has submitted a new auto insurance program in Texas.

The carmaker has been offering car insurance in the state through Redpoint County Mutual Insurance since October 2021, and based on September 2022 data, the program had over 11k policyholders.

In the filing, Tesla Property & Casualty states that it intends to write new business beginning March 1, 2023, and offer new policies to policyholders being non-renewed by Redpoint effective March 1, 2023.

In September, Redpoint submitted an overall rate increase request of 16% for the Tesla program in the state.