Tesla Insurance Could Be 30–40% Of The Value Of Tesla’s Car Business - CleanTechnica

In Tesla’s Q3 earnings call the other day, Elon Musk touched upon some of the most valuable business units within Tesla.

State Farm takes the #1 spot, with $42 billion and 17% market share.

State Farm is followed by Geico ($33.1 billion) and Progressive ($27.1 billion).

Tesla’s market cap is currently $391.95 billion.

If Tesla Insurance was 30% of Tesla’s market cap today, that would be $117.6 billion.

This would knock State Farm from its #1 spot (remember that its market cap is $42 billion).

Elon Musk explained some of Tesla’s opportunity in this arena on the conference call.

Elon Musk also spoke about this during Tesla’s Q2 2020 earnings call.

Back in August, James Locke shared his story with me of how he recently switched from State Farm to Tesla for both of his family vehicles.

One way Tesla can improve its insurance, according to Locke, is with more flexible software for those who move around the country and between countries?

In Tesla’s Q3 call yesterday, Elon Musk also used insurance as an example of a product made by Tesla’s internal applications team?

“Something like insurance is a good example of a product that’s basically made by our internal applications team.

Tags: Elon Musk, Tesla, Tesla insurance

Johnna Crider is a Baton Rouge artist, gem, and mineral collector, member of the International Gem Society, and a Tesla shareholder who believes in Elon Musk and Tesla

Elon Musk advised her in 2018 to “Believe in Good.”