Automakers are looking to turn car insurance on its head

Car insurance - Tesla on building

Tesla and General Motors want to define themselves as top players in a whole new industry. Tesla and GM are both looking to take on car insurance in multiple states in order to provide their customers with a new way to obtain coverage that the automakers are aiming to make less expensive than traditional alternatives. Tesla’s auto policies are available in five states, with a target to bring them to 45 by the close of 2022. Tesla may not have much reach in the current car insurance market, but it…

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Looking to boost sales, General Motors offers free insurance for new cars.

General Motors is no stranger to financial troubles. The 2008 recession, whose effects still linger to this day, took a heavy toll on the auto maker. The company was forced to shut down several factories, lay off thousands of workers and discontinue some of their models. Recovering from the recession has been no small feat for the world’s businesses, but the auto industry has had a particularly rough time of it, due mainly to the additional expenses that come with purchasing a vehicle. In an effort to boost sales, GM…

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Mileage tracking feature in the future for OnStar

Mileage tracking feature in the future for OnStar

OnStar will include mileage tracking as part of their service in the near future. Talks have begun regarding this addition. According to President, Chris Preuss, OnStar hopes to use this service as a way to offer insurance discounts to subscribers. The addition of insurance discounts for subscribers is complex. This is because each state’s insurance procedures are different. What might be allowed in one state would not work in another. Preuss feels that with OnStar’s tracking ability, there may be a way to help consumers get even better insurance discounts.…

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