Tesla, insurers take different paths to deal with expensive repairs

Published by
Reuters UK

By Paul Lienert (Reuters) – Tesla Inc’s electric vehicles are expensive to repair – so much so that the automaker and insurers are addressing the issue in sharply different ways. Chief Executive Elon Musk says Tesla is making design and software changes to its vehicles to lower repair costs and insurance premiums. Insurance carriers, meanwhile, are writing off low-mileage Tesla Model Ys that have been in crashes, and sending them to salvage auctions after deeming many too expensive to repair. During Tesla’s fourth-quarter earnings call on Wednesday, Musk said premiums from third-party insuranc…

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