Is Tesla Motors Entering The Car-insurance Company?

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Categories: Insurance
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Tesla Motors CEO Elon Musk has a history of putting his loan where his proverbial mouth is. He famously backed the resale value of early Model S automobiles with his own funds, for instance. Now, hes utilizing a few of his business cash to support the safety benefits of the Auto-pilot self-governing driving technology. The California-based electric-vehicle maker may be partnering with a few insurance companies overseas to start offering policies on the high-end cars. Specifically, drivers in Australia and Hong Kong might quickly have the ability to buy into this Tesla-backed insurance choice, Electrek says. The InsureMyTesla websites werent exposing much as of this early morning.

Tesla is apparently dealing with AXA General Insurance in Hong Kong, and with QBE Insurance in Australia. Australian policies begin at about AUD $1,200 ($900) a year, which on the surface area appears to be a pretty excellenta respectable deal to guarantee an $100,000-plus automobile. Some of the plans even use full-vehicle replacement for Teslas that are less than 3 years old.

The new service comes at an essential time due to the fact that human mistake causes about 90 percent of all automobile accidents, and Tesla continues to make its case that Auto-pilot and other autonomous-driving features will prevent a lot more accidents than they cause. And for those mechanically-inept among us, the policies can also cover Tesla Wall Connector gadgets in case those get trashed.

A Google search does show up a revealing InsureMyTesla PDF (here), with information like an optimum of $2,500 per policy duration for lost secrets and damaged locks. However, clicking the 2 InsureMyTesla websites directs users to Teslas Support page. Tesla didnt instantly respond to a requestan ask for comment from AutoblogGreen about the apparent brand-new program.

When it comes to Auto-pilot, there have been a string of admittedly high-profile mishaps one was reported in China previously this month in which the chauffeur blamed Autopilot. The business has usually said the drivers are misinterpreting Autopilot for a fully-autonomous driving system or that they believed it was on when it wasnt.

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