Elon Musk announces another attempt at Tesla car insurance

Tesla car insurance - Tesla car logo

This time, he is promising a “major insurance company” despite the failure of last year’s rollout. Tesla is pushing forward for a full Tesla car insurance product that will use data collected using its vehicles about the habits of its drivers. The goal is to use real driving data to provide policyholders with lower premiums than traditional insurers. “We’re building a great, like a major insurance company,” said CEO Elon Musk when speaking about the Tesla car insurance to investors during the second-quarter earnings conference call. This occurred on the…

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Elon Musk to cover Tesla directors and officers liability insurance himself

Directors and Officers Liability Insurance - Tesla charging station

The company cited “disproportionately high” D&O policy premiums quotes from insurers. Electric vehicle maker Tesla Inc has stated that it will be forgoing directors and officers liability insurance for the 2019-2020 policy hear. The reason they gave for skipping the coverage is that insurer premiums quotes were “disproportionately high.” That said, Tesla won’t be without any form of D&O coverage at all. Elon Musk, the company’s CEO, has stated that he will personally provide coverage “substantially equivalent” to the directors and officers liability insurance Tesla would receive from traditional insurers.…

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The Tesla Model 3 has earned top safety ratings from the insurance industry

2019 Tesla Model 3 driver-side small overlap IIHS crash test YouTube

The electric vehicle has become the first from the company to receive this I.I.H.S. rating. The Tesla Model 3 electric sedan has received the Insurance Institute of Highway Safety’s (I.I.H.S.) top safety rating. This represents the first time the electric vehicle maker has received this highest safety designation level. The I.I.H.S. granted its top safety pick+ designation to the electric vehicle. The Tesla Model 3 received the top safety pick+ designation from the I.I.H.S. after the vehicle performed exceptionally well. The institute said that the Model 3 earned this top…

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Tesla insurance still slated to move forward after delay, says Musk

Tesla Insurance - Tesla Charing Station

Elon Musk spoke at the company’s annual shareholder meeting, addressing his previous coverage claims. CEO Elon Musk spoke at his company’s annual shareholder meeting, addressing the topic of the Tesla insurance he’d previously promised to drivers of the automaker’s electric vehicles. Musk insists that the electric vehicle insurance product is still in the works, only delayed. Musk explained that the Tesla insurance product would become available after an unspecified acquisition is completed. He also pointed out that additional software was in development. The Tesla electric vehicle insurance would become available…

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Tesla insurance industry crash test results weren’t stellar

Tesla Model S insurance industry crash test

The automaker’s spotless safety testing record for the Model S was just marred by the IIHS. The Tesla Model S, which had previously performed very well in insurance industry crash test scores, now rates as less safe than rival vehicles. The Insurance Institute for Highway Safety (IIHS) determined that safety performance from this car wasn’t as good as that of other comparable models. The IIHS found the Model S offered passengers only adequate protection from some forms of impact. For instance, the insurance industry crash test determined the Model S’s…

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SpaceX explosion destroys uninsured Falcon 9 rocket

spacex explosion rocket launch insurance

That said, the contents of the rocket may have been covered by their own policies. The SpaceX explosion shocked the world, particularly when it was revealed that the Falcon 9 rocket was not insured. The rocket burst into flames on the launch pad in Cape Canaveral, Florida. There were neither fatalities nor injuries in this explosion, which did make it a very fortunate one. That said, due to the lack of coverage, SpaceX will likely need to cover the losses from the rocket. Moreover, it will also need to deal…

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