Tesla Insurance

History

2020: Creation of insurance company

At the end of July, 2020 Elon Musk announced creation of Tesla Insurance insurance company which will select to clients an individual rate depending on style of driving.

We want to use using Tesla Insurance the data collected by the car in the driver's profile for accident risk assessment, and then monthly settlement of an insurance premium for the client — the Business Insider edition cites Musk's words.

According to the entrepreneur, advantage of Tesla Insurance over competing insurance the companies is "our exact information". Musk also said that he looks for "vigorous actuaries".

Please, join Tesla, especially if you want to change something or you are irritated with how slow became the industry — he reported.

Elon Musk announced Tesla Insurance creation

As notes Business Insider, owners of the electric vehicles Tesla have expensive insurance because of difficulties with search of spare parts and limited choice of the qualified car services. According to ValuePenguin company, the average cost of the insurance policy for the Tesla Model 3 car (the cheapest in a line of car maker) is $3 thousand a year (215.1 thousand rubles), Tesla Model of $ S — 4.8 thousand a year (344.2 thousand rubles). For comparison: the cost of an insurance of Toyota Camry averages $2.2 thousand a year (157.8 thousand rubles).

Earlier Elon Musk already made attempts to be engaged in insurance business. In April, 2019 the businessman started the insurance product in California. However literally in several working hours the website hung up, being allegedly updated, and did not resume work. The few clients who were in time to begin in these hours a design of an insurance on this website complained that the cost of an insurance of Tesla turned out even above, than at third-party insurers though Elon Musk promised that it will be 20% lower.^[1]

Notes