Tesla has introduced a new in-house insurance program in California, marking a shift from State National Insurance Company to Tesla Insurance Company. The change includes a 3% discount for customers who switch policies before the given deadline. Currently, California cannot utilize Tesla's real-time Safety Scores to influence premium rates, unlike other states. In addition to expanding in California, Tesla aims for global outreach by registering for insurance in China, while also enhancing incentives for users of their Full Self-Driving feature in other states like Arizona and Texas.
Tesla's new insurance program in California includes in-house underwriting and a 3% discount for customers who switch policies by a stipulated date.
Tesla has transitioned to Tesla Insurance Company for its California policies, offering a premium discount for early switchers, in a move to simplify insurance.
Tesla is preparing to expand its insurance services internationally, having registered a brokerage in China and appointed a former Geico executive to lead initiatives.
The goal is to make insuring Tesla vehicles cheaper and more accessible, promoting sustainable energy through competitive insurance rates and partnerships with various stakeholders.
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