Tesla is launching an insurance service designed to give drivers in California lower rates because of safety features on its electric vehicles.

Tesla Insurance is designed to provide Tesla owners with up to 20% lower rates, and in some cases as much as 30%. The service offers comprehensive coverage and claims management to support our customers in California, and it will expand to additional U.S. states in the future.

"Because Tesla knows its vehicles best, Tesla Insurance is able to leverage the advanced technology, safety, and serviceability of our cars to provide insurance at a lower cost. This pricing reflects the benefits of Tesla's active safety and advanced driver assistance features that come standard on all new Tesla vehicles," according to Tesla.

Tesla owners in California can purchase a policy in as little as one minute via tesla.com/insurance. For new vehicle orders, Tesla customers can request a quote prior to delivery once a VIN has been assigned to their Tesla Account.

Tesla Insurance offers a monthly payment with no hidden fees or charges. Customers may cancel or change their Tesla Insurance policy at any time.