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Tesla owners in Texas can buy auto insurance from Elon Musk’s electric car company as soon as next month.

“Tesla is looking forward to offering real-time (based on actual driving history) insurance in Texas next month,” Musk replied to a Twitter user who asked if the automaker could offer Tesla insurance in New York. Is.


Twitter user, The Cybertrue, said that he received a quote for Tesla’s Model Y at $500 a month. If that was the best quote, the user said they couldn’t keep the car.

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However, Musk noted that the car company won’t get approval to offer insurance in New York until at least next year, adding that the approval process is too “complicated.”

“The regulatory process for approval of an insurance offering is extremely slow and complex, varying significantly by state,” Musk wrote.

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In 2019, Tesla launched its auto insurance for owners in California. The insurance is designed to offer Tesla owners rates of up to 20% and in some cases 30% lower than competitors.

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“Since Tesla knows its vehicles best, Tesla Insurance is able to leverage the advanced technology, safety and serviceability of our cars to provide insurance at a low cost,” the automaker said in a 2019 press release. “This pricing reflects the benefits of Tesla’s proactive safety and advanced driver assistance features that come standard on all new Tesla vehicles.”

Telsa said its “comprehensive coverage and claims management” will only support customers in California, though it plans to expand more across the US.

At the time, the company offered few details about its planned expansion, saying only that it would happen “in the future.”