Tesla offers its own car insurance: is the deal worth it?

Tesla offers its own car insurance: is the deal worth it?

According to a report by efahrer.chip.de, Tesla has been offering its own car insurance in the USA since 2019. The insurance company promises faster and cheaper service than other providers because it waives the retail surcharge on replacement parts. Whether this is a good deal depends on various factors. Customers report good experiences with the transaction, but in the event of damage there is criticism of the long waiting time and lack of accessibility.

Months of waiting after the damage occurred
One customer had to wait seven months for his claim to be settled and for $50,000 in medical expenses to be reimbursed. He also experienced long waiting times in the telephone queue and did not receive a promised call back. This experience contradicts Tesla's promise of fast service.

The problem starts with accessibility
Complaints about Tesla insurance are piling up on social media, particularly regarding long wait times and a lack of communication. The Ohio Department of Insurance documented at least two cases in which Tesla violated state insurance regulations, primarily due to a lack of communication.

Impact analysis
These negative experiences could have serious implications for Tesla's insurance division. Customers who were attracted to Tesla because of its faster, cheaper service may now jump ship due to reports of long wait times and lack of accessibility. This could lead to a loss of trust in Tesla's insurance services and ultimately a decline in customer and revenue numbers.

It is therefore advisable for Tesla to seriously address the issues related to claims settlement and customer communication in order to regain the trust of customers and minimize the negative impact on the market.