Tesla business performance

[mostlylong]

Recent performance of Tesla insurance.

Do they have a data advantage?

I’m not sure they would, maybe someone can explain.

They might have a repair shop advantage, including parts.

In May 2025, Tesla’s insurance arm posted a combined ratio of 121% — meaning for every dollar in premiums, it paid out $1.21 in claims and expenses. For context, most insurers break out into a profuse, “I am going to lose my job” sweat if that number nudges above 95%.
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Above 100%? You’re losing money
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Tesla Insurance launched with a promise: harness real-time driving data, reward safe behavior, and undercut legacy insurers. The pitch? “We know our cars best, so we can price risk better.” For a while, it worked—sort of. By 2024, Tesla Insurance had reached a $300 million annual premium run rate and was available in 16 states (Tesla Q1 2025 Earnings). But then came the numbers: a combined ratio of 145% in 2023, easing to “only” 121% by Q3 2024.
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And then there’s the repair bill. Teslas remain expensive to fix, with parts and labor often pricier than their ICE counterparts. And mostly VIN-locked. Even with all that data, Tesla Insurance can’t escape the gravitational pull of high repair costs — especially as increased vandalism and accident rates tick up in urban markets.