History of Tesla
The Tesla was born on July 1st, 2003. The following year to become the board chairman Elon Musk had invested 6 million to the company. The first roadster was made and production started in the year 2008. Tesla achieved its tag as a publicly trading company in the year June 2009. In the year of 2015, they launched their first semi-autonomous vehicle on road. In the year 2019, they started to offer Tesla car insurance.
Tesla car is mostly electrical vehicle which is mainly designed to become the safest cars on the road. Tesla strongly stays upon its commitment to its customers. They try to reach the customers’ expectations to make them happy. They had even a strong commitment to nature through using renewable resources which lead to zero emissions and contribute to building a better world.
The company had maintained its relation properly with their employees as the survey says that they gave a 3.3 rating to the company. Tesla only keeps its focus upon the manufacturing and production of vehicles that are electrically run and its aim to reduce the emission to zero.
Tesla Car Insurance
The Tesla company is known for its best manufacturing of cars and now Tesla car insurance can leverage the use of technological advancement, safety, and providing service to their cars with the insurance at a lower cost. Insurance becomes very important for an individual and keeps that in mind Tesla had started to provide insurance to its car owners. In the year 2020 Tesla auto insurance get started which included the following :
- Tesla car insurance can only be availed by Tesla car owners.
- It is only available for the owners living in California later it will be started in the other states.
The Tesla auto insurance policy provides a 20 to 30 percent cheaper rate than in comparison to the other insurance company. For now, the Tesla auto insurance is only available to the owners living in California. There is a high possibility of Tesla car insurance to expand their insurance plan all over the globe. The reasons why the Tesla car insurance is 20 to 30 percent cheaper due to the following reason:
- The confidence of Tesla in their advanced safety features had made them keep their insurance cost lower.
- Tesla insurance company pairs the customers with the Tesla repair shops and thus lowers the cost as compared to others.
- Tesla cuts out the agents and helps to save the commissions and hence reducing the price of the car insurance.
Tesla car insurance policy is not so much transparent for the setting up rates. The Tesla auto insurance policy keeps on varying based on the records of driving of the individual car owner. They take up the common factors to set up the rates. Auto insurance also gets affected by the amount of distance traveled.
Tesla Insurance Cost
Tesla insurance cost depends upon the price of the Tesla car i.e. more the cost the price of insurance. If an accident happens due to the fault of the other person then the Tesla auto insurance will pay the amount needed for the repair. The more the car is fancy the more the risk upon the owner.
Tesla cars use the most expensive parts during the manufacturing of their car. Tesla‘s cost is higher for repairing as they use aluminum in the body of their car instead of traditional material. These all potential cost of repairing comes under the Tesla insurance cost. Tesla collaborated with Liberty Mutual for lessening up the burden upon the owners. This tie happened in the program named InsureMyTesla in the year 2017.
Tesla car insurance company plans to come into the car market to provide direct insurance to the customer. The Tesla customers are not the only ones who sometimes remain unsatisfied but it also the owner i.e. Elon Musk. Elon Musk has believed that car insurance should be cheaper as cars had become advanced and are safer than before. Tesla has got a new wing as it was awarded the US National Highway Traffic Safety Administration award and has got five-star ratings several times from various models.
For solving the problem of Tesla auto insurance Tesla had taken up the decision into their hand. Tesla had decided to provide the license to the broker the fulfilling the purpose of distributing the insurance.
Working of Tesla Insurance
Tesla cares about the drivers and also takes up all the safety and crash avoiding system into consideration while making the insurance policy. Tesla car insurance policy not only covers the liability collision but also covers the other additional coverages for all extra charges like electronic replacement of key, etc. Tesla especially includes the collision and the liability of the car and provides a discount of 5% to 30% upon the level of use. Tesla always uses the plan to make the car safer to cut the insurance cost needed later.
Tesla Model 3 Insurance
$2,215 is the average cost of the Tesla Model 3 insurance which is more than the national average cost of the Tesla car insurance. The rates vary from insurer to insurer. In comparison to some largest companies in the US, the Tesla car insurance is more than $1000 a year. For the availability of cheap Tesla auto insurance, one needs to check the provider at the small regional level.
The rate of Tesla Model 3 insurance are as follows :
- For the company Progressive, the average annual rate is $1815
- For the company State Farm, the average annual rate is $1943
- For the company Geico, the average annual rate is $2565
- For the company Allstate, the average annual rate is $3331
- For the company USAA, the average annual rate is $1145
The cost of Tesla Model 3 insurance varies from place to place. For example, in Maine, the cost of Tesla Model 3 insurance has a low-cost average i.e. $1245 annually whereas on the other hand in Louisiana the average cost is high i.e. $3436 annually.