Tesla apparently sells insurance so cheaply because its customers are subjected to 24/7, real-time surveillance of their driving behavior. They don’t use GEICO’s underwriting metrics.
https://www.valuepenguin.com/tesla-car-insurance
Tesla Insurance rates by Safety Score
While Tesla’s rates for insurance are very affordable for nearly all drivers, your price drops even more if you can maintain a high Safety Score. A perfect score of 100 will get you a rate of just $887 on a new Model 3 — a shockingly affordable price (the average we found overall was $3,386 per year).
Tesla adjusts rates according to five-point Safety Score increments. So if your average score falls between 95 and 99, your rate will increase to $1,040 per year.
Safety Score range
Annual rate
% change from 80 Safety Score
100 $887 -25%
95-99 $1,040 -12%
90-94 $1,093 -8%
85-89 $1,139 -4%
80-84 $1,186 —
75-79 $1,226 3%
70-74 $1,266 7%
65-69 $1,305 10%
60-64 $1,352 14%
55-59 $1,398 18%
50-54 $1,451 22%
45-49 $1,511 27%
40-44 $1,578 33%
35-39 $1,651 39%
30-34 $1,744 47%
25-29 $1,850 56%
20-24 $1,989 68%
15-19 $2,188 85%
10-14 $2,501 111%
5-9 $3,131 164%
1-4 $3,131 164%
0 $6,644 460%
Of course, what’s the point in paying $70,000 for an automobile with 3 sec 0-60mph acceleration if you’re driving it like an old lady?
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