Tesla - insurance deadbeat?
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https://www.reuters.com/investigates/special-report/tesla-insurance/
Horror stories of Tesla’s own insurance arm now paying their subscribers and very slow at processing claims.
Tesla sell its own car insurance because other insurance companies charge high premiums for Tesla cars, so Tesla figure they would sell their own insurance to eliminate that barrier to sales. Sell cars first, take care of insurance subscribers second, it looks like.
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A lot of insurance companies are losing money on their home and auto right now. Combination of driving habits (bad ones picked up a lot during covid) fender-benders becoming much more expensive (sensors and cameras are in our bumpers) and many states having regulations that limit which policies they can cancel..how much they can raise rates, etc.
When money is tight, insurance companies become real assholes about how they handle claims. They'll pay them (eventually), but make you work for it....knowing many people just throw their hands in the air.
It'd interesting to see how Tesla fairs vs other big names...At least those companies have other insurance products (business, workers comp, etc) that can keep them afloat.
