Compare Car Insurance on High Luxury Cars and A Tesla

Let’s look at all the coverage options that ideal car insurance for Teslas should have: 

Liability Coverage

Auto liability insurance is legally mandated in most states. It protects the insured against the property damage and bodily injury they’re legally liable to pay for due to any road accident that they’re involved in.  

For example, your Tesla is in an accident with another car on the road. The driver dislocates their knee and needs medical attention. Your liability insurance will pay for their medical bills and loss of income.  

Collisions Coverage

This will help you pay for repairs or reimbursement should you collide with another vehicle or an object. Imagine you’re driving your Tesla on a slippery road, you lose control and your car slides off the road, crashing into a tree. Collision coverage will kick in once you pay your deductibles and pay for the repairs that your EV needs.  

Uninsured/Underinsured Motorist Coverage

Imagine your uninsured teenage kid takes your Tesla for a ride and gets in an accident. If you have uninsured/underinsured motorist coverage, your car repair and medical bills will be compensated by insurance. (Consider also purchasing car insurance for new drivers to keep your uninsured/underinsured driver safe on the road.) 

Similarly, imagine you’re driving on your way to work, and another driver loses control of his vehicle and hits you. You find out that their coverage limit won’t help pay for all of your damage. Your underinsured motorist coverage would kick in and enable you to pay for repairs.  

Medical Payments Coverage

Medical coverage is optional, but we recommend you add it as an endorsement. While your auto liability coverage does pay for medical bills for the third party, it won’t pay your own medical bills.  

For instance, you crash your car into a tree and suffer a fractured skull. You can’t rely on auto liabilities coverage, but medical payments coverage will help you pay for your medical bills. Medical payments coverage is one of the must-haves in an auto insurance policy.