HomePress CoverageElon Musk vs. Warren Buffett: Insurance Company Won't Pay $2,000...

Elon Musk vs. Warren Buffett: Insurance Company Won’t Pay $2,000…

geiko, obsessed through Warren Buffett’s Berkshire Hathaway BRKABRKBrefuses to pay for damage caused by one of its insured drivers a Tesla Inc. TSLA Vehicle.
What happened: Tesla owner Jeff stopped his vehicle to let an ambulance through. The ambulance hit Jeff’s Tesla.

“They (the ambulance) hit us,” he said. “We have State Farm insurance and [the ambulance driver] has Geico insurance.”

An officer who witnessed the accident alleges Jeff, the Tesla owner.

When Jeff made an appointment to have his car repaired at an Authorized Tesla Body Shop, the estimate for repairing the damage was $2,000.

The body shop informed Jeff that Geico would not pay the prices to repair the vehicle and that there is a significant difference between the prices Tesla charges for parts and those Geico pays.

“He said, ‘You can use State Farm, you can pay cash or you can find another repair center, but I have to tell you that all of us authorized Tesla repair centers in the Valley have joined forces because we’re trying to fight Geico. ‘”

Jeff has contacted a Geico customizer who he hopes can resolve the issue.

“He said, ‘Go ahead and file it with State Farm and you don’t have to pay your deductible. As soon as you report your damage there and list your car and ask for your excess, they will contact me and I will forward the excess. We are 100% to blame for the accident.”

Despite the solution, the car will not be repaired until December 12, 2022. Why? Tesla-certified body shops are booked and Geico takes the time to find a solution for the repair.

See also: You have to build cars that people want: Warren Buffett on Elon Musk and Tesla

Why it matters: The story illustrates how insurance companies criticize Tesla’s use of authorized body shops and the cost of parts and labor.

While Geico is working with this customer, there is a delay in repairing the vehicle.

Meanwhile, Buffett has shown…



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