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Elon Musk promised cheaper Tesla Insurance and it's here, sorta

Sasha Lekach

Back in April, Tesla CEO Elon Musk announced a new product: Tesla Insurance. 

He said it'd be here in about a month. Fast forward a few months (it took four), and the electric car company's own insurance program is a real thing

Tesla Insurance was revealed on Wednesday, but only for California Tesla owners. Anyone else driving around Tesla-less or outside of California has to stick with other insurance options. 

Musk said during the first-quarter earnings call that Tesla Insurance would be "much more compelling compared to anything else out there." A blog post about the new product claimed 20 percent lower rates, which seems to be the main "compelling" factor. Read more...

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