Tesla to Sell its Own Car Insurance

Aug. 29, 2019—Tesla launched Tesla Insurance in California on Wednesday, per a report by CNBC.

The auto company said its insurance may be as much as 30 percent less than other insurance plans. Tesla Insurance is only available in California to start, but the company said it will “expand to additional U.S. states in the future.”

Tesla customers in California can get a quote in as little as a minute according to the company, and those who have already ordered cars can request a quote with their vehicle identification number.

Largely owing to the high costs of repairing a Tesla after a collision, ValuePenguin estimates the average cost of insuring a Tesla vehicle in the US ranges from $1,913 per year for a Model 3, the company’s most affordable model, to $2,963 per year for a Model S 90 D, its highest-end car.