Tesla's New Insurance Program To Reduce Costs For Owners

Tesla is about to launch a new insurance program in order to reduce costs for its owners and some details are starting to leak through a new partner behind the program.

For years now, Tesla has been increasingly more involved in building insurance products especially designed for its vehicles.

Two years ago, we published an exclusive report revealing that Tesla was working on a new car insurance program, which it started offering to its customers in Australia and Hong Kong. It has since expanded into several other markets including North America.

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Truthy - 5/2/2019 10:34:06 AM

+6 Boost

Tesla needs to this as insurance companies are increasing rates. Seems drivers are increasingly trying that "ridiculous" acceleration and crashing their cars.

PUGPROUD - 5/2/2019 4:15:40 PM

+2 Boost

The US market, insurance regulations, capital reserves and accounting policies are far different from Australia and Hong Kong. Sounds like a competitive advantage but there are sound reasons why none of the other automobile manufacturers have gone down this path over the last 100 years. Be careful what you wish for Elon.

SanJoseDriver - 5/4/2019 2:22:30 AM

+1 Boost

They have more data than other car makers. If autopilot really reduces the chance of a crash by 200%, then insurance per mile should be half the cost when autopilot is turned on. Makes sense.

malba2367 - 5/2/2019 6:51:05 PM

+2 Boost

They will probably partner with a large insurance company, and agree to provide parts at a reasonable price to that insurer through some sort of rebate scheme. The insurance problem is created by Tesla itself...if they priced replacement parts in line with other makes then the cost to insure would be in line.

PUGPROUD - 5/2/2019 7:34:36 PM

+3 Boost

Maybe so but offering special pricing on parts to only one enterprise can run up against antitrust laws if comparable discounts aren't offered to others under similar terms and circumstances. This arrangement could run afoul of the law though that never stopped Elon in the past.

skytop - 5/2/2019 8:16:07 PM

+1 Boost

Want to reduce auto insurance rates?
OUTLAW cell phone texting and dialing of all types of phones.