Insurance company Zurich made an agreement with Teslabecome the preferred insurance provider for electric vehicle (EV) brands in Australia.
The deal will give current and new Tesla owners access to the InsureMyTesla service, created specifically for Model 3 And Model Y owned and provided solely by Zurich.
Like other Tesla features, this insurance product is available to Australian car owners via the Tesla smartphone app.
InsureMyTesla covers all vehicle repairs, including glass, charging equipment and batteries, through Tesla’s approved repair network.
There are windshields and visors that require no additional material, which also cover the spacious glass roof of Tesla products.
Third party liability insurance is also included, covering collision with an uninsured vehicle, legal costs and expenses, and modifications due to defects.
Zurich Australia and New Zealand managing director Justin Delaney said the idea behind striking a dedicated deal with Tesla was to make it easier for Australian drivers to switch to electric vehicles.
“The uptake of electric vehicles in Australia is growing rapidly… ensuring these customers have quality insurance protection is critical to supporting the transition across the country,” he said.
The company has partnered with Tesla overseas and has acted as the automaker’s preferred insurance provider in Switzerland since 2016.
Zurich says individual insurance prices will vary based on a number of factors related to each customer, their car and their requirements, but the average cost for a middle-aged Model 3 owner could be around $1,400, depending on location.
A recent report from the Insurance Council of Australia (ICA) found that the cost of insuring electric vehicles is higher than that of internal combustion engine vehicles, not only due to the higher cost of spare parts – particularly batteries – but also the resources required to repair them.
To reduce these costs and close the gap between the two types of vehicles, the ICA has recommended that the government invest more in electric vehicle-specific training for mechanics, as well as continuously review the standards affecting the motor insurance industry.
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