Tesla Ownership Could be $400/Year Cheaper With Tesla Insurance

Tesla now provides insurance for owners in California. If they are able to deliver on 20% lower insurance then this would save about $400/year cheaper for a model 3.

Tesla already repairs its cars and has the means to provide roadside service.

Tesla has the data on damage to vehicles and accidents. This will enable them to have a detailed understanding and modeling of the financial risk they will be facing when insuring.

Tesla will also be able to control and reduce risks of accidents by improving the self-driving and driver assistance software and systems in their cars.

Tesla will also be increasing the competitive prices of Tesla car insurance for other car insurance companies. This will be another factor in ensuring a faster response in the market to any improved safety in Tesla cars.

SOURCES- Elon Musk Twitter, Tesla
Written by Brian Wang, Nextbigfuture.com