Insurance

You may drive a Bolt, but Tesla insurance must quote

Drivers who own electric Chevy Bolts, Toyota Priuses or even nonelectric gas guzzlers may be able to seek insurance from Tesla Inc., according to Forbes online.

Palo Alto, California-based Tesla jumped into the insurance market in August, offering its Tesla electric vehicle owners with car insurance rates up to 20% lower than the market average. However, last week the company removed its insurance offerings from its website after the California Department of Insurance asked on Aug. 30 that the company modify incorrect information because state law requires insurance products approved by its department to be available to all consumers, said Forbes in a news story.

So even if you’ve chosen a Nissan Armada, which Consumer Reports says gets just 10 city miles to the gallon over a Tesla Model S, California law says the company must give you a quote. Tesla’s updated insurance page says the company will, upon request, “place your non-Tesla auto policies with a relevant provider,” Forbes reported.

Source:- businessinsurance