Tesla owners face rising insurance premiums due to vandalism

Tesla owners may face higher insurance costs in the near future. Recent vandalism targeting Tesla vehicles is linked to growing public anger towards CEO Elon Musk. Critics have expressed their outrage through acts of vandalism, including graffiti, broken windows, and even arson. Insurance rates for Tesla cars were already high due to factors such as expensive parts and repair processes. A recent study showed that Tesla drivers are more likely to get into accidents too. Now, with the rise in attacks on their cars, even responsible drivers might see their premiums increase. Tesla's Model 3 has reportedly experienced a significant price jump in insurance—up 30% to $4,362 annually. Insurance experts warn that if vandalism continues, companies might refuse to cover Tesla vehicles altogether. As Musk becomes increasingly involved in political matters and controversial actions, the backlash against him seems to affect Tesla directly. For Tesla owners looking to save on insurance, switching from comprehensive to collision coverage could help lower costs. However, this would leave them unprotected against vandalism. It's worth noting that many bank loans require owners to maintain comprehensive coverage to protect their investment. Overall, the fate of Tesla insurance rates seems closely tied to Musk's public image and actions, leaving many owners in a difficult position going forward.