Connect with us

News

Tesla Offers Auto Insurance in California

Tesla has launched an insurance service designed to give drivers in California – its biggest market – lower rates because of safety features on its electric vehicles, according to an article by Reuters.

Advertisement

Tesla has launched an insurance service designed to give drivers in California – its biggest market – lower rates because of safety features on its electric vehicles, according to an article by Reuters.

Advertisement
Click Here to Read More
Advertisement

Tesla said its rates were lower than its rivals by as much as 20% but did not provide comparisons, according to the article.

The California Department of Insurance website showed Tesla was licensed as a broker to conduct business on behalf of the State National Insurance Company Inc., a unit of Markel Corp., according to the article.

U.S. insurers say they currently do not have sufficient data to validate auto industry promises of safety benefits from automated driving systems, citing automakers’ reluctance to provide detailed information on models sold with those features, a lack of consistent standards, drivers’ unpredictable use of the systems and higher repair costs, according to the article.

Tesla said it would offer “comprehensive coverage” and claims processing to customers in California, and that it would expand to additional U.S. states in the future, according to the article.

Advertisement

Data from Tesla vehicles, when in autonomous mode, “will decrease the frequency and severity of collision claims for Tesla owners,” a factor that State National said will allow it to offer insurance at a lower cost.

Just a few months ago, Porshe announced a similar tailor-fit insurance program where drivers would be given rates based on their monthly mileage.

To read the full article, click here.

Advertisement
Click to comment

Loading Post...

Loading Post...

Loading Post...

Advertisement

POPULAR POSTS

Sponsored Content

Attention: Please Post This Important Safety Information for Your Customers

Sponsored Content

A ROAD MAP FOR AN INDEPENDENT OPERATOR

Sponsored Content

How to Explain the Value of OEM Parts to Your Customers

Sponsored Content

In Search of a Good Technician

Connect