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Tesla selling car insurance in China, and potentially other countries in the future

Discussion in 'Tesla, Inc.' started by ecarfan, Feb 23, 2017.

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  1. ecarfan

    ecarfan Well-Known Member

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    Tesla looks to bundle insurance policy into the purchase of a car

    Quote: "Tesla VP of Global Investor Relations Jeff Evanson told analysts during the company’s fourth quarter and full year 2016 earnings call that Tesla is looking to provide insurance policies customized to the vehicle being sold. The company currently offers an insurance product that includes maintenance coverage, but only to buyers of a Model S and Model X in the Asian market."

    In the earnings call yesterday, Elon commented that if insurance companies do not appropriately price Tesla car insurance in a way that reflects the reduced accident rate in AutoPilot equipped cars, Tesla would consider selling insurance themselves. But he also seemed to say that in the future Tesla planned to offer insurance to every Tesla purchaser.

    Elon has already stated that Teslas with AP has ever fewer accidents based on Teslas internal data which shows significantly fewer airbag deployments compared to non-AP cars, whether nor not AP was actually in use at the time of the airbag deployment. He is obviously convinced that AP cars are safer than non-AP Teslas.
     
  2. Uncle Paul

    Uncle Paul Member

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    Tesla has gotten pushback from their customers, claiming that insuring a Tesla is more expensive than other comparible cars.

    Question is whether the more expensive costs to repair the Tesla's at authorized repair facilities is more than offset by the reduction in personal injury and maintenance in these cases.

    Believe that Tesla wants insurance companies to take these realities into consideration and offer Tesla owners reduced insurance rated due to the reduction in risk they are taking for personal injuries.
     
  3. DFibRL8R

    DFibRL8R Member

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    I could see insurance companies not willing to take the risk on the new technologies (AP2) that Tesla is rolling out especially early on when the reduction in collision risk is not well accepted. Makes sense that Tesla would be best positioned to help their customers during this transitional period by reducing insurance rates in line with the projected risk profile that Autopilot brings. Auto insurance is a major expense and decreasing the cost for a Tesla owner would be a huge perk to offset true cost of ownership.
     
  4. Drewflux

    Drewflux Member

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    Tesla Australia have been offering insurance since September last year. The prices are reasonable although some have done better with other companies
     
  5. rrosenbl

    rrosenbl Member

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    Please point me to details, I've looked through the Tesla Australia website and see no reference and want to research this more fully for the Talking Tesla podcast. Thanks!
     
  6. Drewflux

    Drewflux Member

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  7. rrosenbl

    rrosenbl Member

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    Thanks! Rolling this into a story for Talking Tesla #76, out on 3/8.
     

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