Kiwis now get Tesla insurance

Tesla’s own insurance programme InsureMyTesla is now available in New Zealand.

It’s underwritten by Vero Insurance New Zealand in partnership with Tesla.

About 20 countries already have InsureMyTesla, reported to be designed especially to account for Tesla’s advanced safety features and said in theory to mean lower insurance premiums.

But there are reports some Tesla owners overseas have been paying more for insurance than expected.

Tesla chief executive officer Elon Musk disputed one US insurer’s report earlier this year that high claim frequencies and costs meant raised rates for Tesla owners.
Musk is reported as saying during Tesla’s annual meeting in June that its own study showed the average cost of insuring a Model S or X was about 5% lower than for other premium vehicles.

If a Tesla driver’s insurance goes up “there is a simple solution,” Musk said. “Change your insurance provider.”

He’s also reported as saying insurance agencies should adjust their prices for Teslas because the cars come with Autopilot, the company’s advanced assisted feature.

Vero’s website says Tesla insurance features include competitive pricing, 20% excess reduction after 90 days, cover for loss or damage to home charging equipment, full glass coverage (including panoramic roof), key cover if lost, damaged or destroyed; discounts on AA Roadside Assist and on selected AA driver training courses.
A new car replacement is offered after a total loss (up to 24 months or 40,000km).

Vero says SMART repair shops in two locations can improve turnaround times for low to medium collision damage.

Infrared paint drying technology removes the need to disconnect the car’s battery.
The company has a nationwide network of approved repairers and a lifetime guarantee of repairs if using them.

An optional rental car reimbursement is available too.

Tesla aims to include insurance and maintenance into the price of future vehicles.
It’s more affordable Model 3, which includes Tesla safety features and self-driving technology, is expected to help lower insurance premiums for some customers.