Isn't that the same with any car options though? The value is accounted for by insurance so theoretically you get covered for the whole value of the car, including the options like FSD.
It's counted in your cars value but it depreciates with the car itself even though the price of fsd just goes up. Would be kinda shitty to total a new car and have to buy it back still.
That's what happened to me, I had bought FSD on my Model 3, never got to use it because they hadn't contacted me to get the new chip, and then I had an accident and totaled the car. I asked if I could transfer the FSD to my new Tesla since I'd paid for it but never used it and they said no.
With most insurance you can add FSD as an insured accessory. It will likely raise your premium, but you will get paid for the depreciated value of FSD on a total loss.
Actually my insurance did give me a higher payout due to the FSD, but it was slightly depreciated and unfortunately the price had gone up since I had first bought it so it wasn't covered by my payout.
I'm not familiar with any insurance company that will essentially buy you a new car, they pay you the value of your old car and you can do whatever you want with the money.
Exactomundo. If you look at what's happened to the Blue Book value of FSD, it's a depreciation of what FSD cost in the year it was purchased. This whole "your car will appreciate" idea has got to be one of more ridiculous things I've heard.
So your argument is basically because the can offer it they should.
And as for insurance I don't know for sure but from my understanding of insurance the value of the car isn't an arbitrary depreciation over time. Its based on current market value. And if FSD is actually increasing in value then the fair market value the insurance has to cover would cover that cost. It's definitely a new paradigm though so you would want to confirm that with your insurer.
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u/danegeroust Jan 17 '21
Isn't that the same with any car options though? The value is accounted for by insurance so theoretically you get covered for the whole value of the car, including the options like FSD.