Tesla is experimenting with bundling insurance and maintenance into the price of its vehicles as it looks to further streamline the process of purchasing and owning a new car.
During the automaker’s fourth-quarter earnings call, Tesla’s president of sales and services, Jon McNeill said that the firm has started selling cars in Asia with insurance and maintenance included.
“It takes into account not only the Autopilot safety features but also the maintenance cost of the car. It’s our vision in the future we could offer a single price for the car, maintenance, and insurance,” he said.
Tesla’s interest in the insurance industry stems from a concern that traditional insurance providers may not reduce risk premiums even if cars continue to get safer with self-driving technologies, reports Business Insider.
Speaking during the earnings call, Elon Musk said “If we find that the insurance providers are not matching the insurance proportionate to the risk of the car then if we need to we will in-source it. But I think we’ll find that insurance providers do adjust the insurance cost proportionate to the risk of a Tesla.”