With the self-driving cars ready to take centre stage in the future, car accidents caused by humans will totally eradicate. Autonomous driving cars will save millions of lives and repair costs around the world. That's a good news for everyone, except for insurance companies.
Leader in autonomous driving technology, Tesla have entered car insurance business in Hong Kong and Australia. The new program is called InsureMy Tesla, which comes with custom insurance plans for its vehicles.
Tesla have partnered with AXA General Insurance in Hong Kong and QBE Insurance in Australia.
These are the benefits that customers can avail in this custom insurance plan:
- New vehicle will be replaced by same model, if vehicle is less than 36 months from registration.
- Coverage of damage to Tesla Wall Connector.
- Choice of authorised Tesla repairer.
- Simple pricing for improved Total Cost of Ownership.
In Australia, some owners reported to have offered by insurance plan by Tesla, starting from 1,200 Australian dollars(Approximately Rs 60,000). Tesla's software-limited battery packs are very confusing for insurers.
Tesla sells two vehicle models of same value for different price, the Model S (or X) 60D and Model S (or X) 75D. Both have same battery pack but the 60D model battery is limited to 60kW by Tesla's software.
Tesla's logic behind this insurance plan ,makes complete sense, with these complexity. But this new insurance is only available in Hong Kong and Australia.