The Reason Why Tesla Insurance Is So Expensive
According to Consumer Reports, the cheapest Tesla vehicle, the Model 3, will cost you more to insure than most gasoline-powered vehicles on the market. The average insurance rate for a Tesla Model 3 is $318 more to cover than the gas-powered Audi A4 (via Consumer Reports). In fact, you would pay more insurance premiums for a Tesla Model 3 than you would for Toyota Prius or a Chevrolet Bolt. Even a Ford F-150 Lightning and a Mustang Mach-E would be cheaper to cover than a Tesla Model 3 (via Get Jerry).
To put it into perspective, Tesla is the most expensive car brand to insure after Maserati, as calculated by Consumer Reports. However, the insurance premiums are not written in stone and they can vary depending on your age, state, insurance company, or specific Tesla model.
The Tesla insurance is the most affordable cover if you own a Tesla since it’s cheaper compared to other insurance companies (via Value Penguin). It also doesn’t factor in your age, gender, or accident history to appraise your insurance premium. Instead, it uses your safety score based on your driving patterns. The lower your score, the higher your Tesla insurance premium.
At the moment, Tesla insurance policies cannot be purchased in all 50 states. Nevertheless, you could consider other affordable insurance policies from State Farm, Nationwide, Travelers, and USAA.
via SlashGear https://ift.tt/K2D9qbf
September 20, 2022 at 11:20PM