Tesla’s cars are safe, terrific, eco-friendly, luxurious, fast, and technologically advanced. However, insuring a Tesla car can cost you an arm and a leg; that’s why the company has decided to offer its own car insurance policy.
So what is Tesla car insurance? And how does it works? Here are things you need to know about Tesla and its car insurance.
What Is Tesla Car Insurance?
Tesla car insurance is meant for Tesla car owners. The company is in the best position to write insurance policies for its vehicles because they have a deep understanding of its advanced technology. Tesla can better account for newer technologies and advanced safety features, giving other insurance providers pause. The purpose is to lower the cost of owning a Tesla car and improve the overall customer experience.
How Does Tesla Car Insurance Work?
You can get insurance coverage from Tesla if you are driving a Tesla. Visit Tesla’s website to get an idea of your Tesla insurance cost. You’ll need to create an account with the company to get started. The company will ask you for information, such as your address, driver’s license number, vehicle, and driving history. Make sure all your details are accurate. Once you provide your information, you will be able to purchase a policy instantly online unless you need help with adding supplemental coverage’s.
How To Purchase Tesla Insurance
Purchasing Tesla insurance is very simple. Unlike other car insurance companies where you need to work through an agent, Tesla lets you to buy insurance online or call the company to speak with a licensed agent.
What Is The Cost Of Insuring A Tesla Car?
The cost of auto insurance coverage for a Tesla car varies significantly based on the model of your vehicle and other factors, which are taken into account. These include your claims history, driving record, location, and amount of coverage purchased. The company may also consider your gender, age, and occupation in your auto insurance policy underwriting.
What Does Tesla Car Insurance Cover?
Tesla offers standard insurance coverage options for car owners. Tesla owners can purchase an auto insurance policy that includes:
- Bodily injury liability: This insurance coverage pays for injuries you cause the driver or passengers in the other car
- Property damage liability: This coverage will provide the financial protection you need should you cause damage to another car.
- Personal injury protection: This will pay for the costs of injuries to you or your passengers, as well as lost wages.
- Comprehensive: This coverage protects you financially against damage caused by non-accident factors, such as theft, animal or weather damage.
- Collision: This coverage will pay for any physical damage to your car if your Tesla car is severely damaged in an accident.
- Uninsured/underinsured motorist: If a motorist with no insurance coverage or insufficient insurance hits you, this coverage will help you cover the cost of damage.
Other insurance coverage offered by Tesla includes gap insurance, total loss deductible, and collision deductible buyback.
Is Having Tesla Insurance Worth It?
It is worth getting a quote from the company if you own a Tesla car. But do not stop there: check other insurance companies for quotes and compare them. While Tesla Insurance may not be the cheapest option out there, getting insurance coverage from the company means you will receive service from experienced professionals who understand the specific needs of these vehicles.
Pros And Cons Of Tesla Car Insurance
Tesla car insurance sounds great, but the company faces some challenges rolling out its insurance coverage. Here are some of the advantages and disadvantages of having Tesla car insurance coverage based on reviews from current Tesla policyholders.
Advantages of Tesla insurance include:
Tesla Knows Their Vehicles: When you insure your car with Tesla, you’re insuring your car with a company that knows everything about your car.
Better Accident Investigation: The Company knows how their cars work. They can investigate accidents or faults more effectively because of this knowledge.
Cheaper for Some Drivers: Some drivers save a few dollars on insurance by switching to Tesla car insurance because they provide better services at their service centers.
Disadvantages of Tesla insurance include:
Only Available in California and other few states: Tesla insurance is only available in few states. However, Elon Musk has indicated its plans to extend to other states in the future.
Losing some Discounts: You might have car insurance, home insurance, and life insurance with a single insurance company and get a discount on all three policies. But with Tesla, you only get car insurance.