Tesla is so sure its cars are safe that it now offers insurance for life. By offering lifetime insurance, it incentives Tesla to make their cars as safe as possible. From a Mashable report:
In the self-driving future envisioned by Tesla CEO Elon Musk, car owners might be saying “goodbye” to a whole lot more than steering wheels. Musk is so sure of the safety features bundled into Tesla vehicles that his company has begun offering some customers a lifetime insurance and maintenance package at the time of purchase. No more monthly insurance bills. No more unexpected repair costs. “We’ve been doing it quietly,” Tesla President of Global Sales and Service Jonathan McNeill explained on the call, “but in Asia in particular where we started this, now the majority of Tesla cars are sold with an insurance product that is customized to Tesla, that takes into account not only the Autopilot safety features but also the maintenance costs of the car.” “It’s our vision in the future that we’ll be able to offer a single price for the car, maintenance and insurance in a really compelling offering for the consumer,” added McNeill. “And we’re currently doing that today.”
How Does Tesla Maintenance Plan Work?
Maintenance Plans are agreements for multiple annual service inspections paid in advance. Tesla owners are eligible to purchase a maintenance plan. You can choose to not purchase a Tesla maintenance plan and, instead, pay for your individual annual service inspections upon each scheduled service. Tesla maintenance plans are simply prepaying at a discounted rate for your annual service inspections.
When you sell your Tesla vehicle, you can transfer the unused portion of your Tesla maintenance plan to the new owner when the vehicle ownership transfer is processed through Tesla. Of course, you can request to cancel your maintenance plan at any time and receive a refund for the remaining unused annual service inspection intervals.