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Briefing
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- Tesla Insurance – Car maker Tesla launched Tesla Insurance, which provides coverage for Tesla vehicles in California, on August 28, 2019, and could expand to more U.S. states in future
- Lower Premiums – Offers premiums 20-30% lower than other insurance providers, charging from $1,913 per year for more affordable Model 3 to $2,963 per year for high-end Model S 90 D
- Advantages – Tesla better understands its vehicles, technology, safety and repair costs, and eliminates fees charged by traditional insurance carriers
- Availability – Existing owners can avail of policy through website while new customers can request quote upon linking vehicle identification number (VIN) to their Tesla account
- Cancellation Policy – Insurance can be cancelled or changed at any time
- Data Use Policy – Does not use data from vehicles, such as global positioning system (GPS) locations or camera footage, to price its insurance
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Market Disruption
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Business Model and Practices
Business Model
and Practices
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Sector
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Transportation and Logistics
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Function
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Customer Experience and Service
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Organization
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Tesla Motors Inc.
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Source
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Original Publication Date
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August 28, 2019
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