Tesla offers insurance

Tesla has launched Tesla Insurance for its California customers with a view to expanding to other US states and possibly other countries.

Insurance has been an issue for Tesla and one its chief executive Elon Musk has been keen to resolve with Tesla vehicles expensive to insure despite its claims the EVs are among the world’s safest.

“Because Tesla knows its vehicles best, Tesla Insurance is able to leverage the advanced technology, safety, and serviceability of our cars to provide insurance at a lower cost,” the company says.

It says the offer provides Californian Tesla owners with up to 20% or even 30% lower rates, the pricing reflecting the benefits of Tesla’s active safety and advanced driver assistance features that come standard on all new Tesla vehicles.

Tesla says customers may cancel or change their Tesla Insurance policy at any time.

The EV company has worked with other agencies in countries like New Zealand which has InsureMyTesla, a comprehensive motor vehicle insurance offer developed in co-operation with Vero.