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Car Insurance Tesla Australia – US electric car giant Tesla has launched its brand-specific insurance coverage in Australia, but some customers are unhappy with the prices they’re getting.
Launched in partnership with fellow Australian insurer Zurich Australia, the InsureMyTesla program is available to new and existing Tesla owners via the Tesla smartphone app.
Car Insurance Tesla Australia
Tesla Special Insurance is offering comprehensive or third-party insurance policies for Tesla rs who own the Model 3 or Model Y, the two best-selling electric cars in Australia in the first half of 2024.
Insurance $$$ Is Crazy.
According to InsureMyTesla, customers are offered “extra free” windshield and glass coverage, and depending on which policy rs choose, they get theft and damage charger coverage and can also claim “In certain circumstances” where they are explained to Tesla.
When Tesla launched a similar program in the United States in 2019, it said it would offer owners “a 20 percent discount, and in some cases up to 30 percent.”
However, Tesla Australia’s insurance program does not allow it to offer any price guarantees, and Shannon Marshall, head of strategy and technology at Zurich Australia, says prices will be “competitive”.
Trying to determine the average cost of InsureMyTesla policies would be difficult because it “depends on so many variables,” Marshall said.
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“I would say [InsureMyTesla] is competitively priced in the market,” Marshall said when asked about pricing compared to other insurance companies.
However, some Tesla owners have started sharing their InsureMyTesla quotes online, with many of the compensation figures being much higher than other quotes provided by traditional insurance companies.
In a recent post on the Tesla Owners Australia Facebook group, a user shared a screenshot of his alleged quote, adding: “Tesla contacted Zurich Insurance [sic] gave me a good offer of 5.8k. Dollars? I thought that They are trying to find cheap insurance from the NRMA which gives you 2.6k [sic]’.
However, in the same thread, various Facebook users claimed that Tesla’s new insurance program is the cheapest option compared to other providers.
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“Through the Tesla app, I found Zurich to be the cheapest after my big store. Sure, more expensive than my previous ICE [Internal Combustion Engine], but the best Tesla,” wrote one commenter.
Another Facebook user, who has yet to file a claim and now lives in New South Wales, said the insurance quote from Zurich on his 2024 Tesla Model 3 rear wheel was the “cheapest” he had ever received. had done
“My Allianz price was $1,675, Zurich $1,580… [Zurich offered] $1,200 extra. Allianz was $1,100 extra,” he wrote in a Facebook post.
Temporary r said that the cost of his Zurich insurance in Australia exceeded $ 12,000, but Marshall said that compared to the high cost of Tesla insurance policies was the result of R’s youth in a high-performance car.
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As Marshall explained, “Because [Tesla’s] high-performance cars, there are a lot of insurance companies that don’t cover high-performance vehicles. It’s dangerous in the hands of a very young person. This is young.” Maybe because it’s a high-performance car, not because it’s an electric car.
To give you a quick snapshot of the price difference between Tesla brand insurance and other insurance companies, we’ve created a comprehensive insurance quote for a 60 year old 2024 r Model 3 Performance living in Eastern Sydney.
InsureMyTesla lists an annual premium of $2,702. In the same situation, NRMA quoted $2,663 a year – $39 less in this case with InsureMyTesla.
Marshall said the higher cost of insurance premiums for EVs than conventional cars is a “combination” of lack of knowledge about the supply chain and the high-tech features many EVs have.
Proof Of Insurance Upload Tesla App
“Historically, early EVs were very expensive to replace and repair, and that was partly due to a lack of knowledge and understanding of the value chain. Part of that was the way the cars were made, and the manufacturers Insurance needs to be aware of the implications, Marshall said.
Marshall said that most of the Tesla cars are priced because “it’s not an electric car, it’s just a high-tech car, and when you have cameras and sensors on Mercedes and BMWs, you’re going to see the same value alternative] , for example.”
“The fact is that electric cars are more technologically advanced and have more sensors and cameras … the cost of insurance is not a result of having an electric car, [it is] a result of the type of car you drive. Buy Do,” he added.
However, a panel expert who works at Luxury Auto Body – an independent, Tesla-certified repair center in Melbourne – previously said that based on damage, Teslas are actually relatively cheap to repair compared to luxury brands. In comparison.
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“Without major changes, [Tesla costs] maybe $4,500 to $5,000 to repair … some Tesla parts are incredibly cheap. Something like the bumpers — those parts are cheap. When we look at airbags and suspension , they are [expensive] but still much cheaper than BMW or Mercedes-Benz,” he said.
Ethan Cardinal graduated from La Trobe University in 2020 with a degree in Journalism and has been working as a freelance writer in the fashion industry before joining in 2023. Ethan enjoys researching and reporting on the intersection between cars, lifestyle and culture. Ethan explores the opportunity to explore how intertwined cars are in various industries and how they can influence casual readers and car enthusiasts alike. A review of nearly 300,000 Australian car insurance quotes makes Tesla one of the most expensive brands to insure.
Financial comparison service Mozo collected and analyzed 295,346 car insurance quotes from 33 providers and a total of 61 car insurance policies.
Of the 59 car brands covered, 28 were below average, and 31 were above average.
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However, premiums for some brands were significantly higher than average, with Maserati, Mercedes-AMG, Chevrolet, Porsche and Tesla among the top five most expensive brands to insure.
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While this may not come as a surprise to the former four brands, none of which sell vehicles for less than $85,000 in Australia, it is a shock to Tesla as an electric vehicle (EV) specialist. Road prices range and only reach between $80,000.
Behind Tesla, Ram, Inos, Range Rover, Infiniti and BMW were all luxury or specialty brands.
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At the other end of the spectrum, the budget brands that have left Australia, such as Daewoo and Proton, are considered cheap carmakers to insure.
They sat next to the defunct Saab, the soon-to-be-returned Photon and the previously-started GWM called Great Wall Motors.
Perhaps another surprise on the list is Toyota – a long-time favorite among Australian car buyers – higher than the average annual price ranking and ahead of European brands such as Volkswagen and Volvo.
More information on how much Australians pay for car insurance and the factors influencing it can be found in Mozo’s 2024 report. It can be read here.
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Born and raised in Canberra, Jordan worked as a motoring journalist from 2021 and became one of Australia’s most published motoring news writers in 2024. Australia’s Zurich has signed an agreement with Tesla to become a preferred insurer. For Tesla electric vehicle (EV) customers in Australia. The partnership will provide access to the insurance product InsureMyTesla, which is exclusively provided by Zurich and integrated into the Tesla app using Zurich Edge technology.
Justin Delaney, Zurich’s Australia and New Zealand CEO, said the collaboration coincided with the rapid pace of adoption of electric vehicles across the country. “The adoption of electric vehicles in Australia is growing rapidly as consumers continue to recognize the importance of reducing their environmental impact. Ensuring quality insurance protection for these consumers is critical to supporting the national transition.”
Delaney added: “Zurich and Tesla are joining forces to create a more sustainable future, investing in innovative technologies and delivering leading products and services to a loyal customer base. Combining global strength with deep local expertise. A natural fit.” Which will benefit many Australians on our roads.
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Tom Drew, director of Tesla Australia and New Zealand, also highlighted Zurich’s prestigious position in the insurance market. “Zurich has a long-standing reputation for protecting its customers in Australia and around the world. As a preferred provider for InsureMyTesla, Zurich offers Tesla customers affordable and convenient insurance, all available in the Tesla app,” Drew said. .
Drew emphasized the added security that InsureMyTesla provides Tesla owners. “With InsureMyTesla, Tesla ownership is protected, giving more Australians the confidence to go electric,” he said.
The InsureMyTesla product offers comprehensive coverage,
