Vandalism may increase Tesla insurance costs worldwide

Tesla vehicles are facing increased vandalism globally, with incidents including shootings and defacement. This rise in vandalism may lead to higher insurance costs for Tesla owners, as experts warn that insurers consider such risks when setting rates. The average insurance cost for a Tesla Model 3 is already higher than for many other vehicles, at about $3,495 annually. With vandalism claims potentially impacting rates, Tesla owners could see premiums rise further, especially if the trend continues. Tesla's sales have declined amid growing competition in the electric vehicle market and backlash against CEO Elon Musk. Demand for non-Tesla EVs has increased, while interest in used Teslas has dropped, prompting speculation about potential price cuts to attract buyers.