Tesla Launches Car Insurance, Promising 30% Cheaper

Elon Musk’s Tesla is getting into the insurance business: the company just launched Tesla Insurance to customers in California. The company said on Wednesday that they would offer rates that are between 20% and 30% lower than other insurance companies. “Because Tesla knows its vehicles best, Tesla Insurance is able to leverage the advanced technology, safety, and serviceability of our cars to provide insurance at a lower cost. In 2016, Tesla began to offer its InsureMyTesla program to Tesla vehicle owners in Australia and Hong Kong by partnering with larger insurance companies.



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