Tesla insurance will now be offered to drivers in California, which was originally announced by Elon Musk in April. The company indicates that Tesla insurance will be competitively priced, and in many cases will be cheaper than drivers' existing insurance plans. The company indicates that the car's safety features help to reduce the cost of insurance.
Tesla drivers in Califonia are now able to purchase the new insurance on the Tesla website. According to Tesla, purchasing the insurance takes approximately one minute.
Tesla entering the insurance industry will be beneficial for the company. Insurance offers a predictable revenue stream, that it can rely on and also offers convenience for customers, due to the easy signup and lower rates.
Image Credit: Tesla