Tesla owners are facing rising vandalism incidents linked to protests against CEO Elon Musk. Experts suggest that if this trend continues, insurance companies might raise rates or potentially deny coverage for Tesla vehicles. Vandalism is a key factor considered by insurers, though its impact is less than collision damage. Insurance analysts highlight that a precedent exists, as seen with Kia and Hyundai models affected by theft trends, suggesting that Tesla might face similar insurance complications in the future.
"If vandalism involving Tesla vehicles continues to rise and doesn't go back down, we could see rates rise for comprehensive coverage in the future," Brannon said.
"As we have learned from the 2023 TikTok theft trend targeting certain model Kias and Hyundais, if these types of losses continue, carriers could refuse to offer coverage for Tesla vehicles altogether," Martin explained.
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