Last Updated on February 10, 2021
We may say that Elon Musk is trying to change the world as we know it, just like Steve Jobs did. Elon Musk is a visionary and from cars to space internet and space station, he is everywhere. And he is the great creator of Tesla, the electric cars that are changing the way we drive. Let’s face it, we never thought we could have a car that drives itself. Oh well, maybe we thought about it, but maybe only in 2100! But one thing that all cars need in order to hit the roads is to have car insurance
! And this goes for fuel or electric ones. And the value of that insurance will vary depending on the car you’re driving.
1. How Does The Insurance Work?
Knowing how insurance works is important to know which auto insurance companies are offering you the best deal. Auto insurance companies take into account your age, the age of your car, your driver’s history, your year mileage, and, sometimes, where you live. And the premiums will rise every time you make a claim, whether you’re the responsible one or not. Knowing who is responsible for an accident is something that auto insurance companies take very seriously since this will tell them how much costs you’re giving them. And when you have an accident and no one recorded it, it will always be your word against another person’s words. To better understand all this, let’s make a quick Tesla insurance review and how they’re trying to change this.
2. Why Is Tesla Selling Insurance?
The first thing you need to know is that Tesla auto insurance only works for Tesla cars and only in some US states. And this started when Elon Musk launched Tesla Cybertruck. Tesla wants to know if this is an affordable business for them and in order to get a good share of the market, they promise premiums 20 to 30% cheaper than other insurance companies. If we take into account that people from around the world are buying Tesla cars
, it’s easy to understand that this can be another gold mine for Elon Musk. Another thing you should consider is that Tesla cars are prepared for a couple of things that will help Tesla offer the best insurance policies for their vehicles.