IP InterviewPublished June 4, 2024
Tesla Auto Insurance, Claims, & Repair Costs
inpractise.com/articles/tesla-auto-insurance-claims-and-repair-costs
Executive Bio
Former VP, Insurance at Tesla
Interview Transcript
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Okay, but the total repair cost is three times higher. You mentioned $10,000 for Tesla, and $3,000 for ICE. What about the frequency of claims? You mentioned that the claims in the first six months are 50% higher. What about over the following couple of years?
Over the following couple of years, it does go down. However, the frequency still remains high for Teslas for reasons I'm not sure of. It might be market-driven, as they are in large markets like California and Texas. But our frequency was higher than typical. It hovered around 15% to 20%.
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