Given Tesla make many of the parts they should theoretically be positioned well to offer vertical integration and presumably lower prices than other insurers.

That this so far is costing more is defeating the very logic used in the press release. Also, despite Musk’s tweets that can be read to suggest otherwise, there is no car telemetry being used at all to tailor the quote.

This looks like a cash grab rather than an attempt to genuinely offer a new form of competitively priced insurance.