Tesla Plans To Have Lifetime Insurance And Maintenance Bundle For Every EV Model

Feb 27, 2017 09:10 AM EST | Andrew Davis

Would you be willing to get a brand new Tesla EV with a lifetime insurance and maintenance bundle? This bundled offer was announced during the company's earnings call last Wednesday. In fact, the company has quietly been offering this to select markets and it seems that it is a hit. They could probably also offer this to US markets. Maybe.

Tesla wants this way of offering their vehicles across different markets in the future, of course in partnership with external insurance providers. But the company has also looked into offering the insurance plan in-house.

According to Tesla President of Global Sales and Service Jonathan McNeill, they have been offering the bundle quietly. Referring to the Asian market where Tesla particularly started this kind of offer, "... now the majority of Tesla cars are sold with an insurance product that is customized to Tesla, that takes into account not only the Autopilot safety features but also the maintenance costs of the car," said McNeill.

This suggests that Tesla executive pretty much believe that they can change the matter with which brand new cars are priced and purchased. Plus, this will allow the customers to gauge exactly how much a new Tesla model will cost in the long run.

Another thing to consider is that if what the company claims is true, that the newly added autopilot feature does make cars safer, then this theoretically leads to less expensive insurance rates for non-autonomous vehicle. But really, with the help of autonomous driving, the number of collisions and other accidents could significantly be reduced.

Tesla has not revealed further details about the lifetime insurance and maintenance bundle. Nor has the company shared details as to its cost. Thus, as to when this will be officially offered to the public is yet to be determined. Although note that the company does follow through on bold predictions, according to Mashable.

Business Insider reports that Tesla has partnered with AXA General Insurance for its insurance and maintenance bundle program and QBE Insurance in Australia.

If Tesla's insurance and maintenance bundle program does push through, then consumers will say goodbye to monthly insurance bills and unexpected repair costs. But say hello to a bit expensive Tesla model, although this might just be a one-time payment.

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