Tesla Insurance withdraws from the German market
Closed after almost four years Tesla Insurance is closing its German branch. The Federal Financial Supervisory Authority (BaFin) announced that the Maltese insurance subsidiary of the electric car manufacturer Tesla has discontinued its activities in Germany. The decision affects both existing and potential customers.
Background information on the withdrawal of Tesla Insurance
The German branch of Tesla Insurance Limited was founded in 2021 in Grünheide - not far from the Tesla Gigafactory. It offered a wide range of insurance services, including
- Motor vehicle policies, especially for Tesla-models.
- Liability, accident and natural hazard insurance.
- Legal expenses insurance.
What is special about Tesla-car insurance: the premiums were calculated in real time - without additional telematics technology. According to Tesla safe drivers could save up to 60 % savings.
Why does Tesla Insurance withdraw?
Although no official reasons have been given, the following factors could play a role:
- Regulatory challenges: The German BaFin sets high requirements for insurance companies.
- Competition in the insurance market: Established providers could Tesla Insurance under pressure.
- Internal strategy changes: Tesla May focus more on other core areas such as vehicle production and new technologies.
What does this mean for Tesla-drivers in Germany?
Customers from Tesla Insurance in Germany must now look for alternative insurance policies. The existing policies are likely to either expire or be transferred to other providers. Tesla So far, there has been no indication as to whether or when the insurance company might return.
For Tesla-owners who want to continue to benefit from affordable and innovative policies, there are numerous alternatives on the German market.
Outlook: What's next?
While Tesla Insurance continues to be successful in other countries such as the USA, it remains to be seen whether the company will return to Germany with a revised concept in the future. For Tesla-drivers, it is worth keeping a close eye on developments, especially if Tesla continues to develop its insurance offerings.
Keywords: Tesla, Tesla Insurance, Tesla insurance, Tesla accessories, Tesla Model Y, Tesla Model 3, Tesla Store, Shop4Tesla, Tesla News
—
Did you like our article? If you are already a proud Tesla-If you are a Tesla rider or would like to become one soon, visit our online store Shop4Tesla and get a 5% discount on all products with the discount code: NEWS4TESLA.
In our extensive range you will find a variety of high-quality Tesla-accessories for every model. Discover exciting innovations and accessories that will make your Tesla-experience even better - www.shop4tesla.com.
