08-28-2019, 11:53 PM | #1 |
Mugwump
Join Date: Oct 2003
Carmudgeonly Ride: E46 330i, Chevy Colorado, Tesla Model 3
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Tesla Insurance
Did anyone look into it yet? Get a quote?
I'm not sure I want a company with miserable customer service being in charge of my insurance claims.. But for the right price, I can be bought. Preemptive disclaimer: I dig Tesla and that's cool. Tesla works for me because I have all the pieces to make Tesla work for me. Most people on this board do. We are not like most people in the US that want or need cars. And certainly not like most people around the world. |
08-29-2019, 12:28 AM | #2 |
Solving problems
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lol @ disclaimer
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08-29-2019, 03:16 AM | #3 |
Chief title editor
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Posts: 26,599
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But, whatever makes you happy
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OH NOES!!!!!1 MY CAR HAS T3H UND3R5T33R5555!!!!!!1oneone!!!!11 Team WTF?! What are you gonna do? |
08-29-2019, 07:12 AM | #4 |
I like BMWs
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FYI - I believe it’s California only right now. And it’s not “Tesla” insurance - really a 3rd party providing a Tesla branded program.
As far as pricing goes, nothing special (the carrier backing it basically copied the rates from a competitor’s Auto program). Insurance rating algorithms vary company by company and there’s no guarantee any given company will always be the best, so basically - shop around. In terms of coverage, not sure if they add any special features
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08-29-2019, 07:30 PM | #5 |
Mugwump
Join Date: Oct 2003
Carmudgeonly Ride: E46 330i, Chevy Colorado, Tesla Model 3
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Posts: 17,475
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Sounds pretty pointless, but at the same time what's the downside for them? Some percentage of customers are just going to walk in and say sure I'll take the default Insurance I've heard it's good.
The insurance business seems like a way to print money. Why isn't everyone in it? |
08-29-2019, 08:07 PM | #6 | |
I like BMWs
Join Date: Oct 2003
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Quote:
Profit margins on the actual insurance risk are pretty small - $0.05 or less per $1 of premium for standard personal lines coverages. But there is a time lag on average between when you pay premiums and when they pay claims so the investment income on the float can generate good return. It’s made Buffet a lot of money over the years.
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