(Bloomberg) – Tesla Inc. is partnering with Liberty Mutual Insurance Co. to offer anauto-insurance plan designed specifically for its electric cars inthe U.S.
|The plan made available to U.S. customers startingFriday is similar to what Tesla owners have been offered inalmost 20 countries. Among other benefits, Liberty will offer toreplace damaged Teslas that are deemed a total loss within thefirst year, according to the automaker's website.
|A Tesla spokesman confirmed the U.S. launch and declined tocomment further.
|Related: The 10 most affordable electric vehicles toinsure
|The launch of InsureMyTesla in the U.S. comes after ChiefExecutive Officer Elon Musk took issue with reports earlier thisyear that insurer AAA was raising rates to insure Tesla vehicles insome markets, citing high claim frequencies and costs. Muskdisputed the insurer's analysis, saying during Tesla's annualmeeting in June that the automaker's own internal study showed theaverage cost of insuring a Model S or Model X was about 5% lowerthan for other premium vehicles.
|If a Tesla driver's insurance goes up, “there is a simplesolution,” Musk said. “Change your insurance provider.”
|Electrek reported on the insurance plan earlierFriday.
|Copyright 2018 Bloomberg. All rightsreserved. This material may not be published, broadcast, rewritten,or redistributed.
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