Elon Musk plans to begin auto insurance gross sales subsequent month | TheHill – The Hill

Tesla Inc. plans to offer auto insurance "based on actual driving history" to its drivers in Texas next month.

The company has been selling insurance in California since August 2019, and it is expected that the company will do the same in New York once approved. Benzinga reports.

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Texas is Tesla's operations base and the company has launched numerous initiatives for its customers in the state.

As Change America According to an application filed with the Public Utility Commission, Tesla is taking steps to provide direct power to customers in Texas.

The regulatory process for admission to the insurance offering is "extremely slow and complex," tweeted Musk.

Tesla is also awaiting approval to sell insurance in Illinois.

Benzinga said a Tesla owner tweeted that he had quoted $ 500 to insure his Model Y-Series car

The insurance coverage the company offers in California is said to be 30 percent cheaper than competing policies.

Industry analysts say Tesla insurance packages won't disrupt the insurance sector, statistics.

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