Tesla Wants Pricing To Include Insurance And Maintenance Costs

Industry News / 7 Comments

This could be another great reason to buy one.

Up until now, Tesla has been out to prove that it can build the best cars in the world. With the latest update, the Model S can hit 60 mph in just 2.28 seconds, which is faster than every hypercar out there. With Teslas being so incredible, advantages like free Supercharger access (which has recently been cut) were really just an added bonus. That hasn't stopped Tesla from coming up with new and amazing reasons to tempt you to buy its cars. According to Business Insider, the latest plan is to offer insurance and maintenance in the cost of the vehicles.

Tesla has already experimented with this concept by selling cars in Asia with insurance and maintenance costs included. Jon McNeill, Tesla's president of sales and services said "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." Tesla makes both sides of this equation pretty interesting because the cars have very few moving parts and don't require as much maintenance as a normal gasoline or diesel-engined car. The Autopilot technology makes the insurance side interesting because, in theory, a self-driving car should be much safer and command lower insurance rates.

According to the National Highway Traffic Safety Administration, crash rates for Tesla vehicles have been reduced by 40 percent since the Autopilot was first rolled out. At the company's fourth quarter earnings call, company CEO Elon Musk said that "If we find that the insurance providers are not matching the insurance proportionate to the risk of the car then if we will need to in-source it. But I think we'll find that insurance providers do adjust the insurance cost proportionate to the risk of a Tesla." We think it might be interesting to buy a car that comes with its insurance and maintenance costs included because it would make the car ownership experience even simpler.


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