As of mid-2024, the average price per month for Tesla insurance was $329, significantly higher than the national average of $627 annually for car insurance.
Teslas can be more expensive to insure due to their expensive materials and technology, leading to costly repairs that require trained technicians.
CEO Elon Musk criticized third-party insurance premiums as 'unreasonably high,' but Tesla's own insurance isn't necessarily cheaper, despite its launch to cut costs.
Tesla launched its insurance services in 2019, allowing owners to get policies directly from the manufacturer, although it's only available in 12 states.
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