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
Brian Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of
nextbigfuture.com, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.
