More bad news for Tesla owners: This is how the vandalism might affect insurance prices

Before President Donald Trump took office, Elon Musk’s Tesla was already experiencing a decline in sales. As the billionaire and owner of the electric vehicle company becomes one of the president’s most powerful advisors, Musk himself recently admitted that his companies are “suffering.” The full extent of the economic issues Tesla is facing will become clear in late April when the company releases its first quarterly report for 2025.

Insurance companies will need to evaluate the scale of the vandalism on Tesla

However, it is not only the company that is feeling the pinch, as Musk’s public favorability nears fifty percent, according to a recent poll conducted by the Harvard Center for American Political Studies and HarrisX. CNN warned that Tesla owners could encounter higher insurance premiums as the vehicles become targets for vandalism. The outlet noted, citing data from the online financial comparison tool Bankrate, that Tesla owners already pay some of the highest rates for car insurance because “advanced technology and expensive batteries cost more to repair.”

Now, insurance companies are evaluating whether they will need to adjust rates for Teslas in light of the news from the White House and Musk that attacks on vehicles are increasing. Although there have been reports of attacks on Tesla showrooms, it remains unclear how many similar incidents have occurred on vehicles on the road. NBC News reported earlier this month that, so far, law enforcement agencies have not determined that attacks on Tesla dealerships are coordinated, contradicting statements made by Musk.

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