Tesla Insurance Coming Soon For Texans

Tesla owners in Texas may be able to buy auto insurance from Elon Musk’s electric car company as soon as next month.

"Tesla is hoping to offer real-time (based on actual driving history) insurance in Texas next month," Musk responded to a Twitter user who asked if the automaker could offer Tesla Insurance in New York.

The Twitter user, The Cybertru, said they received a quote for $500 a month for the Tesla’s Model Y. If that was the best quote they could get, the user said they couldn’t keep the car.

However, Musk noted that the car company won’t likely get approval to offer insurance in New York until at least next year, saying the approval process is very "complex."

"The regulatory process for approval to offer insurance is extremely slow & complex, varying considerably by state," Musk wrote.