Slashdot Mirror
US Insurer Hikes Tesla Premiums Due To 'Higher-Than-Average' Claim Rates (theverge.com)
An anonymous reader writes: "National insurer AAA is raising its prices for Tesla's Model S and Model X, citing higher-than-average claim rates and repair costs for the two cars," reports The Verge. "According to a report from Automotive News, AAA said it could raise its premiums by as much as 30 percent for the vehicles. Other large insurers including State Farm and Geico told the publication they couldn't say whether or not they would also increase prices, but noted that data about claim frequency is always used to calculate insurance premiums." Musk claims that AAA doesn't know what they are doing, but fails to be specific as to what is incorrect about their data or its usage. [The company says the AAA has made its decision based on faulty information from the Highway Loss Data Institute.]
I've been following Tesla's stock price of late.
It's at an all-time high ($347) going into the shareholders meeting, and most of the news is filled with innuendo intended to cause panic selling.
Examples: "Tesla: Could confusion kill model 3?", "Is Tesla Inc Stock Worth All the Controversy?", "Tesla Cars: Easy To Total, Expensive To Repair", and so on.
It's impossible to research stocks by reading the financial news nowadays. Lots of manipulation-driven reporting.
Just ran a quote for a new Tesla Model S 70 on Geico and it comes out to $270/mo, ouch. My few years old Subaru is only $75/mo with full coverage. Even a new Audi S6 would run me a far more reasonable $130/mo.