The executive has over 30 years experience in the Auto Insurance industry. The executive has held senior claim operations and legal roles at GEICO.
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Tesla is particularly concerned about the cost of repairs for electric vehicles. I have some data that I can show you on this topic. It covers the cost of repair for Tesla electric vehicles, other electric vehicles, and internal combustion engine vehicles. It's public record. I'll tell you what the source is, but they're concerned enough about it to know that the cost of insurance is very high. It's 20% to 30% more for electric vehicles, with Tesla on the higher end of that spectrum because they are the most expensive.
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According to some public records, MSOs currently handle only about 20% of the volume of repairable vehicles in America. Let's say I'm underestimating and it's 30%; that still leaves 70% of the cars being repaired elsewhere. We can do some research, but if the top six MSOs have 20% to 30% of the volume, 70% of the volume is going somewhere else.
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The executive has over 30 years experience in the Auto Insurance industry. The executive has held senior claim operations and legal roles at GEICO.