Tesla Motors has begun offering insurance products designed for its electric cars in Australia – the second Asia-Pacific market after Hong Kong to offer the after-sales service.

InsureMyTesla is underwritten by QBE, and Tesla Motors is an authorised representative of Marsh Advantage Insurance, according to the product brochure.

“We are extremely excited to be working with such an innovative company as Tesla,” Marsh Advantage Insurance Executive Director David Cook told insuranceNEWS.com.au.

“Up until now, many Tesla owners haven’t had the ability to purchase a bespoke motor vehicle insurance product that provides the cover they want at an acceptable price.

“We have worked closely with QBE to create this unique offering.”

As a Marsh authorised representative, Tesla has the authority to provide general advice on the product. Marsh will provide Tesla representatives with training and contact resources to handle client enquiries and administration processes.

Tesla’s Australian office in Melbourne and Marsh say the product was introduced last month.

“The development of a Tesla-tailored insurance product came about organically because we saw a need in the market for coverage dedicated to electric vehicles and, more importantly, built and priced accordingly with understanding of the Tesla technology and safety in mind,” a spokesman told insuranceNEWS.com.au.

“With Marsh/QBE, we identified the key aspects that were important to protect our customers and cars.”

Tesla’s authorised representative agreement runs for three years, the spokesman says.

Tesla’s website says the “comprehensive motor vehicle insurance” benefits include coverage for damage to the Tesla home wall connector; a choice of authorised Tesla repairer; and vehicle replacement with same model and series if a damaged vehicle is less than 36 months from first registration.

The spokesman declined to reveal Australian auto sales figures, but says consumer response has been positive.

Tesla started the insurance program in Hong Kong last December, followed by Mexico in May. The Hong Kong product is underwritten by Axa General Insurance.

“We are rolling out InsureMyTesla globally over the next six months, and each market will have a specific product,” the spokesman said.