More than just a car manufacturer, Tesla has also been in business as an independent insurance provider since 2021. Tesla broke into the insurance sector when it realized the prospect of high insurance premiums for Tesla vehicles was discouraging prospective buyers. The company stepped up to provide insurance itself, hoping to encourage more car sales by reducing the overall cost of owning a Tesla. Tesla had dabbled in insurance before. In 2017, it launched InsureMyTesla in partnership with Liberty
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