Tesla Insurance looks set to expand to New Jersey and Florida based on filings in both states.
In New Jersey, Tesla has three state-registered companies list of approved insurers. In its listing, the NJ Department of Bank and Insurance (DOBI) includes Tesla General Insurance, Inc., Tesla Insurance Company, and Tesla Property & Casualty, Inc. The names of Tesla’s insurance department in New Jersey match those that ‘he filed in Maryland. .
Tesla also filed new auto insurance programs with Meritplan Insurance Company and Balboa Insurance Company with the Florida Office of Insurance Regulation. The Maryland administration said Teslarati that Balboa Insurance Company changed its name to Tesla Insurance earlier this year. Maryland also filed for a Tesla Property & Casualty, Inc.
(Credit: NJDOBI)
(Credit: Florida Office of Insurance Regulation)
(Credit: Florida Office of Insurance Regulation)
(Credit: Florida Office of Insurance Regulation)
Tesla Insurance depots in Florida also share the same NAIC codes as those listed in New Jersey. Insurance companies are assigned NAIC codes by the National Association of Insurance Commissioners, an organization that oversees insurance practices in the United States.
New Jersey’s DOBI lists Tesla Insurance Company’s NAIC as 24813, which is the NAIC number for Balboa Insurance Company in Florida. Tesla Property & Casualty, Inc and Meritplan Insurance Company also have the same NAIC code in New Jersey and Florida. Based on NAIC codes, Tesla Insurance appears to apply for licenses in Maryland, New Jersey and Florida through Balboa Insurance Company and Meritplan Insurance Company.
Documents filed in Florida reveal that Balboa Insurance Company covers commercial motor vehicle liability, accident and health, casualty, private passenger motor vehicle liability, fire, burglary and theft, among others. In addition, documents filed by FL showed that Meritplan Insurance Company coverage includes commercial automobile liability, commercial automobile bodily injury, private passenger automobile liability, and more.
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