Tesla Inc. is planning to offer car insurance to its drivers “based on actual driving history” in Texas next month.
The company has been selling insurance in California since August 2019, and there is anticipation that the company will do the same in New York once it gets approved, Benzinga reported.
Texas is Tesla’s base of operations, and the company has started numerous initiatives for its customers in the state.
As Changing America previously reported, Tesla is taking steps to supply electricity directly to customers in Texas, according to an application filed with the Public Utility Commission.
The regulatory process for approval to offer insurance is “extremely slow & complex,” Musk tweeted.
Tesla is also waiting to get approved to sell insurance in Illinois.
According to Benzinga, one Tesla owner tweeted he was quoted $500 for insurance for his Model Y series car
The coverage the company gives in California is said to be 30 percent less expensive than competitive policies.
Industry analysts say that Tesla insurance packages will not disrupt the insurance sector, and a June data leak from their app suggests that rates for insurance would be adjusted based on users’ time spent using the infamous Autopilot, speed, miles driven per day, and other statistics.
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