Tesla Insurance

[rumatt]

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.

[FC]

lol @ disclaimer

[clyde]

But, whatever makes you happy

[SARAFIL]

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

[rumatt]

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?

[SARAFIL]

Originally Posted by rumatt

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?

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.