Elon Musk Says Tesla Will Launch A “Compelling” Insurance Product

Tesla chief executive Elon Musk says the electric car manufacturer is working on an insurance program.

While speaking to reporters on an earnings call this Wednesday, the entrepreneur said Tesla is working on an insurance product but failed to provide many details about the program.

“The answer is yes we are creating a Tesla insurance product and we hope to launch that in about a month. It will be much more compelling than anything else out there,” Musk said.

When further quizzed about the safety of Tesla’s Autopilot system, Musk said the car manufacturer provides detailed information to insurance companies to help with rates. It will, therefore, incorporate similar Autopilot information when providing its own insurance to owners.

There’s no hiding your driving habits from Tesla

“We do give some more detailed information to insurance companies to help with rates. And obviously as we launch our own insurance product next month, we will certainly incorporate that information into the insurance rates,” Musk stated.

Musk went on to reveal that Tesla has access to “direct knowledge of the risk profile of customers based on the car,” and said that this is very useful for the brand. Musk added that Tesla customers who opt for the car manufacturer’s insurance policy will need to agree not to drive their cars in a crazy way. If they do, “the insurance rate is higher.”

CNBC contacted a Tesla spokesperson seeking additional information about the company’s insurance program but nothing extra was provided.

more photos...
  • Howfarr

    Ha, tesla insurance, basically marking their own homework.

  • charlotteharry57

    Of course. Elon saw the Ghosn news and had to come up with some his own. For today…so not to be outdone.

  • ctk4949

    Need better lease deals!!

  • Perry F. Bruns

    But will they catch fire?

  • ME

    Perhaps this will be incorporated into a subscription service. A once a month fee.


Koenigsegg CCXR Trevita Roars With Bespoke Titanium Exhaust

Out of the three ever made, this CCXR Trevita is the only one in the States and used to be owned by Floyd Mayweather.

How About An As-Good-As-New 2002 Mercedes G-Class For $80k?

This G-Wagen has got a 63 AMG look, just 31 miles on the odo and, despite being in the UK, is left-hand drive.

Aston Martin Vantage Has Few Letdowns, Looks Drop-Dead Gorgeous

The engaging driving experience is 10 times better in a car that looks as good as the Vantage.

At 4,225 Pounds, The 2020 Shelby Mustang GT500 Is One Heavy Brute

Good thing Ford fitted six-piston brakes up front and four-piston ones at the rear to help the 760 HP ‘Stang stop as it should.

And Then There Were Three: BMW’s Finest Vie For The Crown Of Best M Car Ever

Picking a winner between the E30 M3, E46 M3 CSL and M2 Competition is certainly not an easy task.

2020 Subaru Outback Promises A Lot, But Does It Deliver?

Featuring a host of upgrades and lots of new tech while retaining its off-road capabilities, it does make a compelling case for itself.

McLaren 600LT Sets A Storming 7:08.8 Lap Around The Nurburgring

The 600LT is only a couple of seconds slower than the time posted by Sport Auto with a Porsche 911 GT3 RS .

Would A 300 PS VW T-Roc R Cabriolet Tickle Your Fancy?

The T-Roc R would be the first high-performance convertible crossover – a niche within a niche, if we ever saw one.

2020 BMW M760Li Is A Powerful Luxo-Barge, So Let’s See What She’ll Do, Shall We?

Large, V12-powered sedans are a dying breed, so why not enjoy them while we still can.

Mercedes-AMG GT R Leaves Subtlety Aside For A Wide Body Upgrade

Fostla added a Prior Design wide body kit, whereas Ferrada the 10-spoke, matte black 20-inch wheels.