One of its insured drivers caused a Tesla Inc. TSLA vehicle to be damaged by geico, owned by Warren Buffett's Berkshire Hathaway BRKABRKB.
What happened to the Tesla owner Jeff's vehicle after he stopped his vehicle to allow an ambulance to get through. He said that she and her ambulance bumped us. We have State Farm insurance and the ambulance driver has Geico insurance. An officer who witnessed the accident, Jeff, the Tesla owner, claims.
When Jeff set up an appointment to get his car fixed with an authorized Tesla body shop, the estimate to fix the damages was $2,000.
The body shop informed Jeff that Geico wouldn't pay the rates to fix the vehicle, and there is a significant rate difference between the prices Tesla charges for parts and what Geico covers.
He said you can use State Farm, you can pay cash, or you can find another repair center, but I gotta tell you all of us that are authorized Tesla repair centers in the Valley have banded together because we're trying to fight Geico. Jeff has been in touch with a Geico adjuster that he hopes will solve the problem.
He said you go ahead and file it through State Farm and you don't have to pay your deductible. As soon as you file your claim over there and put your car in and ask for your deductible, they are going to contact me and I am going to forward the deductible. We are 100% at fault for the accident. The car won't be repaired until December 12, 2022, despite the solution. Geico is taking time to come up with a solution to the problem, and Tesla-certified body shops are booked.
You Have To Make Cars That People Want: Warren Buffett On Elon Musk And Tesla
Why It is Important: Insurance companies like Tesla's use of authorized body shops and costs for parts and labor.
The vehicle is delayed due to a delay, and Geico is working with this customer.
Buffett has shown support for Tesla CEO Elon Musk and electric vehicles.
Tesla has entered the insurance market with a plan to lower costs for Tesla owners and non-Tesla owners. Tesla insurance is currently available in Arizona, Colorado, Illinois, Maryland, Nevada, Ohio, Oregon, Texas, Utah and Virginia, as well as California, Colorado, Illinois, and Virginia.
The electric vehicle giant uses real-time driving behavior for insurance to lower costs and determine a price based on what you drive, your provided address, how much you drive, what coverage you select and the vehicle's monthly safety score. According to Tesla's website, customers can save between 20% and 40% on insurance and the safest drivers could save between 30% and 60% versus competitors.
Jeff recalled his story to Teslarati and the YouTube channel Wham Baam TeslaCam and will air an update on Sunday October 2, 2022, and will air an updated look at his story on Sunday.