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.
Try Tesla Insurance. Should be ~20% less than avg. Currently only in California, but expanding soon. Critical feedback much appreciated. https://t.co/L8xv8vxllj
— Elon Musk (@elonmusk) September 3, 2019
SOURCES- Elon Musk Twitter, Tesla
Written by Brian Wang, Nextbigfuture.com
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
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