Tesla Insurance launches, sending the electric vehicle maker into a new industry

Tesla Insurance - Tesla Car - Steering wheel

At first launch, the auto coverage will be available only in California and for the company’s customers. The Tesla Insurance coverage for the company’s electric vehicles and that was first announced earlier this year has now launched in California. The idea is to make premiums 20 percent to 30 percent more affordable for drivers of Tesla’s electric cars. Elon Musk first announced his intentions to launch the product back in April 2019. At that time, Elon Musk had assumed that the Tesla Insurance product would launch quite quickly. That said,…

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California auto insurance rates will no longer factor gender for premiums calculations

California auto insurance rates - man holding car key

At the start of the new year, outgoing Commissioner Dave Jones banned insurers from using gender. Outgoing California Insurance Commission Dave Jones banned the use of gender to calculate California auto insurance rates. This ban went into effect on January 1, 2019. The ban applies to rate setting for passenger cars throughout the state with the highest population. The ban on using gender to calculate California auto insurance rates does not represent the first time a rule of this nature was put into place. That said, this remains an impactful…

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Donating a car in California will affect your auto insurance rates

Donating a car in California auto insurance

Many people are surprised at the impact of donations on their own premiums. Watching the recent news headlines has revealed that donating a car in California has become a growing trend in the state, but at the same time, many of these generous individuals and businesses are discovering that the impact that this can have on auto insurance premiums can be a surprising one. There are many different factors impacting premiums and a donation can alter these calculations. While many people feel that by donating a car in California, they…

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The Golden State – California Insurance Report

California auto insurance

With the increasing number of fatalities in accidents on US roads and highways, having a car insurance policy has become more essential than ever. Just having a look at the latest “Allstate America’s Best Drivers Report” released this week will give you a fair idea. The annual report, released by America’s second-largest insurance provider with regards to personal lines, highlights the fact that accidental deaths in car crashes across the country have jumped up over 33,700. What was most surprising was the fact that Washington DC, where the nation’s lawmaking…

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Auto insurance costs fell only in California

auto insurance price decrease california

According to data from the Consumer Federation of America, that is the only state where this occurred. According to the latest data from the United States, California is the only state in the country where auto insurance costs have been decreasing over the last two decades that ended in 2010. This data was collected and analyzed by a consumer group that attributed the decline to a state law. The Consumer Federation of America is attributed the decreasing cost of auto insurance in California to a law that was passed in…

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Auto insurance fraud under attack in California following $1.3 million grant

California Auto Insurance

A Contra Costa district attorney has directed the funds toward an aggressive effort. According to the district attorney in Conta Costra, California, officials will now be establishing an investigation into workers’ compensation, disability, health care, and auto insurance fraud, with the assistance of a state grant worth $1.3 million. The announcement explained that these funds will help in both investigations and prosecutions. The Contra Costa County District Attorney’s Office, and the California Department of Insurance made the announcement through District Attorney Mark Peterson, saying that the grand money would be…

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Auto insurance Proposition 33 rejected by voters

California auto insurance

The ballot measure that was designed to allow insurers to offer new discounts has been defeated. Voters in California have now rejected the Proposition 33 auto insurance measure, which was created to give insurers the ability to offer discounts to customers who maintained continuous coverage, but increase the rates for drivers whose coverage history was inconsistent. The current law in the state already allows for loyalty discounts for drivers who remain with one insurer. However, that law also stops those car insurers from using the discounts as a way to…

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