Tesla Insurance may soon be available in Maryland

Tesla Insurance may soon be available to Maryland residents as the car marker recently filed a new program in the state.

The program, which has a proposed effective date of June 16, 2022, was filed through Meritplan Insurance Company, one of the insurance carriers Tesla acquired.

As of November of last year, Maryland had 40,587 registered electric vehicles.

Bottom Line: “Car insurance is the second most expensive aspect of owning a vehicle. A Tesla Model 3 can be leased for $519 per month, with a $150 monthly insurance cost, as in the case of one California resident. Elon Musk needed to fix this problem if he wanted to reach a larger population, and by doing so through Tesla Insurance, he is now creating a new problem…”