Tesla plans to offer insurance in Oregon and Virginia
Tesla has recently filed new insurance programs in Oregon and Virginia as it looks to expand its insurance offering to more states.
This time however, the automaker isn’t being assisted by fronting carrier State National. Instead, the programs are under Tesla General Insurance, Inc.
In September 2021, BA Insurance Group entered into a stock purchase agreement with Tesla Insurance Holdings to sell the stock of its subsidiary Balboa Insurance Company to Tesla. Balboa’s subsidiary insurance companies, Meritplan Insurance Company and Newport Insurance Company are included in the transaction. The transaction closed on January 21, 2022.
Last year Tesla filed a new insurance program in Washington with its underwriting partner Homesite. Although the program was approved, Tesla is yet to begin offering insurance in the state.