Tesla Insurance Costs Skyrocket Amidst Wave of Vandalism and Backlash
Tesla insurance premiums are surging due to the company's declining reputation and a rise in vandalism targeting its vehicles. Insurers, relying on actuarial models, are predicting higher claim payouts for Tesla EVs. Elon Musk's personal brand is inextricably linked to the cars, fueling public anger and leading to protests and acts of vandalism, including arson, graffiti, and theft. This has prompted insurers to increase rates significantly, especially for models like the Model X and Model S Plaid. A similar situation unfolded in 2023 with Kia and Hyundai vehicles, whose easy theft led to soaring insurance costs. Adding fuel to the fire, a website called "DOGEQUEST" allegedly publishes personal information of Tesla owners, exacerbating the crisis.