ZeroHedge:
AAA is raising premiums on Tesla vehicles by 30% after data showed that owners of Model S and Model X cars filed claims at abnormally high rates, and that those claims cost more compared with other cars in the same class, Automotive News reported.
Tesla, of course, is disputing the insurer’s analysis.
“This analysis is severely flawed and is not reflective of reality,” the electric-vehicle maker said in a statement emailed to Automotive News. “Among other things, it compares Model S and X to cars that are not remotely peers, including even a Volvo station wagon.”
AAA’ chief actuary said the insurer noticed the anomaly in its own data before confirming it with data provided by a second source, the Highway Loss Data Institute.
“Looking at a much broader set of countrywide data, we saw the same patterns observed in our own data, and that gave us the confidence to change rates,” he said.
Other large insurance companies, including State Farm and Geico, said that claims data is a major factor in calculating premiums. But they would not disclose if their Tesla-owning customers would also see rates rise.
SNIP: Off topic, but here’s what the Tesla logo reminds me of.
Interesting doing some reading on Telsa, the auto-pilot failures, suspension problems, supposedly Telsa forcing customers to sign non-disclosure papers not to publicly report problems. No wonder their rates are going up.
That’s why I bought a Ford plugin hybrid. Getting 80mpg, free electric at work. A friend asked if I turning into a liberal by buying a car, asked if I did it to save the environment. I said fuck the environment, I did it because I needed a new car, 0% interest and it would save me $1000 year in gas. Well it would be $1200, but my estimated home electric cost for the year will be about $200.
Which incidentally I love throwing in the face of libs I know who cry about Big Oil but drive their big SUVs and waste energy with the best of the Hollywood hypocrites. LOL
Obviously, Single-Payer car insurance is the only solution to Tesla’s problem.
Maybe we the tax payers should give Tesla more federal subsidies to cover the cost of their over priced, prone to be engulfed in flames and high insurance costs of their vehicles.
Reminds me of that too, and I bet it’s no accident.
Welp, there goes all those projected savings.
In a protest for withdrawal from the Paris Climate Accord, Elon Musk resigns from the advisory committee that provides him some direct influence on generally pro-business President Trump. Is that a smart move for the CEO of a major company? Sounds like an ignorant Lefty thing to do.
Rates for Tesla should be higher based solely on the fact the driver believes driving a Tesla no longer requires undivided attention. Cell phone use while driving is dangerous, we can all agree. Drivers of Tesla are essentially driving with the belief they are stepping into a large cell phone, not a “traditional” driven car that requires undivided attention.
Many years ago I was thinking about buying a BMW, told my insurer the model I was interested in to get a quote. The liability portion of the insurance was 30% higher than for my Toyota – for any Beemer. When I got an Infiniti instead my liability stayed the same as for the Toyota. So I imagine that this is just a data-based upcharge as it was for BMWs, nothing new here.
If you can afford a Tesla, you can afford higher premiums, or something like that.
It’s what libs say about damn near everything else.
The electric Edsel.
If the feds would remove any tax breaks, incentives, rebates or anything that remotely subsidizes Tesla or any car manufacturer for that matter, Tesla would be out of business inside a year and while some of the others would find it hard going for awhile they would adjust and be better competitors for it. The consumer may pay more for their car then now but after a few years it would begin to drop. Meanwhile Musk would have moved on to another scam, er business venture.
Musk has a great racket going on here: The government pays for his innovation but does not realize any of the benefits, the profit and royalties will all belong to Musk. Shouldn’t taxpayer funded initiatives benefit the taxpayer?
To paraphrase Obama: Elon, you didn’t build that.
I’m waiting for the electric Studebaker.