Tesla owners in California can now buy insurance from the electric car company in what may be the first step toward the unconventional automaker providing coverage for a fleet of driverless taxis.
The expansion announced Wednesday comes four months after Tesla CEO Elon Musk told analysts the company would branch into insuring its own cars for people who buy or lease them.
Musk believes Tesla has learned so much about its cars that it will be able to offer rates 20% to 30% below those offered by traditional insurers.
That will likely appeal to Tesla owners who have been complaining about being charged too much for coverage.
Although the insurance is only being sold in California to start, Tesla plans to offer coverage throughout the U.S. at a later undisclosed state. The policies will only be for personal usage of the Tesla cars, but the Palo Alto, California, company also wants to eventually offer commercial policies.
This story is from the August 31, 2019 edition of Techlife News.
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This story is from the August 31, 2019 edition of Techlife News.
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