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Tesla has officially launched its own branded insurance product to customers in California.
The company said on Wednesday that Tesla Insurance will offer rates up to 30 percent lower than competitors.
“Because Tesla knows its vehicles best, Tesla Insurance is able to leverage the advanced technology, safety, and serviceability of our cars to provide insurance at a lower cost,” Tesla said in a blog post. “This pricing reflects the benefits of Tesla’s active safety and advanced driver assistance features that come standard on all new Tesla vehicles.”
Tesla says owners in California can purchase a policy in as little as one minute via tesla.com/insurance. For new vehicle orders, customers can request a quote prior to delivery once a VIN has been assigned to their Tesla Account.
Tesla said it plans to offer the product in other states soon.