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The following article was published in our article directory on July 25, 2017.
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The Cost of Owning and Insuring a Tesla

Article Category: Advice

Author Name: Jennifer Lang

Futuristic worlds are not only the subject matter for sci-fi literature and movies anymore. The ever-advancing technology is making progress at tremendous speeds and products such as self-driving cars are not a dream anymore. The leading company in this field is Tesla as they offer 2 interesting models in what they call their self-driving initiative. With their attempts to embrace modern technology, their sales have risen, proving the fact that people all over the world are digging the forward-thinking, eco-friendly brand of Elon Musk.

However, when it comes to money, these luxury vehicles do not come cheap. While people appreciate the green technology initiative and would like to embrace it, they might not be able to afford it. There are other brands such as Nissan Leaf, which matches the radar of people on a tight budget, but when it comes to iconic marketing with sleek designs, Tesla beats all.

As it all boils down to the fact that owning and insuring self-driving cars might have some economic repercussions, there are a number of perks as well since the green technology is bound to cut down some of the costs.

Tesla—the Cost

The Tesla Model X varies in price ranging between $68,000 and $134,500. If you are wondering about the huge price range especially within the same model, the trim number is the reason behind it. Vehicles with higher trim numbers are more expensive as they are faster and make the car battery's quality better. Also, remember that this price is for the car only and there will be extra cost if you are looking to install the additional features such as the famous autopilot.

Tesla—the Insurance Cost

The car insurance rates differ by the city, but there is an estimated cost for the models S and X in big cities. This average annual car insurance costs for the Models S and X range between $2,691 and $2,784. The car insurance costs of these vehicles are less in smaller cities than in the big cities.

Like other car insurance policies, the prices of this one will vary depending on the driving record and marital status of the buyer. When it comes to buying car insurance for a Tesla, you are recommended to invest in both collision and comprehensive insurance as these vehicles can be pretty expensive to repair. The damage repairs cost for the Teslas are almost double that of traditional sedans because of their pricey car parts.

The Perks of Driving an Electric Car

If you are still unsure about buying a Tesla, here are some benefits offered by the vehicle that might help you make a decision:
You save money, as there is no need to buy gas anymore. It is charged through electricity.

There are chances of getting a temporary tax rebate
Currently, there is tax break of up to $7,500 in all US states, for anyone driving an electric car.

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