5 Reasons Why Insurance Companies are Raising their Hands from Tesla!!!

Today Electric Car purchase is on the hype in America and other Western countries. When it comes Number 1 choice in choosing an EV then there is no one even near the competition of Tesla. Not only Western countries but Elon Musk-owned Tesla is also making sustainable development in the Chinese Market as well.

There are several reasons why you should give Tesla definitely a try but there is also one reason why you should not. When talking about why you should buy it then it is much more advanced and futuristic as compared to other EVs.

But the thing why you should buy is there is a massive outage in the customers because their Tesla Cars have been rejected while claiming insurance even with the minor dents.

Why it is so that Tesla Electric Cars have been rejected again and again by insurance companies? Well, Here we will discuss with you about Top 5 Reasons why Tesla Cars have been rejected by insurance companies.

5 Reasons Why?

Cost of Repairing is High– Since insurance is also a business and everyone wants to make a profit out of it. And when it comes to Tesla, they have very high maintenance cost because the materials used in its manufacturing is really expensive.

Parts are Hard to Find– Since EVs are moderately new in the car business so the parts damaged are not available in a normal locality store. Sometimes, the thing goes such wrong that you have to register your car parts from authentic dealers. Then there is a possibility that you may find the right thing to replace your car. That’s why when comes to repairing Tesla, the insurance companies raise their hand.

Advanced Technology– The other most common reason why insurance companies do not allow any Tesla Cars to get insured is because of the complexity. Since Tesla comes in the category of high-end EVs and is made up of some advanced components. These components needed to be handled carefully and normal mechanics might not be able to fix them. So may have to take it to the dealers in order to make your car fixed.

Tesla Insurance Rates– As compared to other vehicles available in the market, Tesla car insurance is much higher. The reason for this is the high-repair cost that third-party insurance companies are not able to manage.

Tesla Insurance Program– The other most important reason why third-party insurance companies run when it comes to Tesla is that the Elon Musk-owned car giant has their own Insurance Program which they use for getting Tesla repaired.

If you also have a Tesla and wanted to grab an insurance opportunity then here are the companies which accept Tesla Insurance Coverage.

Tesla Insurance
State Farm

Documents Required to Get Your Tesla Insured

Driving History- If you have got car driving history with accidents or traffic rules violation then there might be a probability that you have to pay more insurance charges as compared to a person with no such history.

Your Age and Gender- If you are a young male then you might have to pay more insurance taxes as compared to females or old drivers.

Your Locality- The insurance charges in urban areas are way higher than in rural areas. This is because there is a chance of higher accident rates in urban areas as compared to rural areas.

Coverage Opted- If you avail full comprehensive coverage which includes total car protection then it will be definitely higher as compared to liability coverage.

We advise you to compare the insurance prices before buying one because there are companies who are giving huge discounts and vast coverage than others.

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