Tesla Insurance Is Now Available In 11 U.S. States
Tesla Insurance Is Now Available In 11 U.S. States
Tesla has expanded its insurance program to Utah and Maryland, increasing the total number of available states to 11.
Tesla launched its first insurance program in California in 2019, claiming it was up to 30% cheaper than competing providers.
The service was expanded to Texas last year and has since become available in several other states, including Arizona, Colorado, Illinois, Nevada, Ohio, Oregon, and Virginia. Insurance is based on real-time driving results in most states, except California, which is not permitted by local regulations.
In-house insurance was only available in one state for almost two years from 2019 to 2021, but Elon Musk made an ambitious plan for this service last year.
A few days before Tesla Insurance launched in Texas, Mask announced that its goal was to make its products available "in most parts of the United States." Until the end of 2022. However, it is unlikely to reach this year's goal, as it is currently only available in some states.
According to the Tesla Insurance support page, in-house insurance services are currently available in 11 states in the United States.
It covers more than 130 million people, or about 39.5 percent of the total US population. In addition, Teslarati reports that the company is preparing to add Georgia to its state list in the coming months.
The release states that on July 22, Tesla began filing an application with the Georgia Insurance Authority for regulatory approval.
Tesla insurance expansion is slow
in an interview with Teslarati, Elon Musk elaborated on some of the difficulties in expanding insurance programs and why things have been slow in the last three years.
According to Musk, getting a permit from each state is a time-consuming process, as there are many barriers to entry and the rules vary widely from state to state.
"In every state you have to jump over many hoops, and those hoops take a long time to jump," he said, referring to the different regulatory requirements of each state. He also said that Tesla will eventually expand not only to all US states, but also to Canada and the rest of the world.
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