Why Elon Musk Doesn’t Insure His Own Tesla Model X (Allegedly)

 Would You Risk a $100K Car With No Insurance Musk Allegedly Does
You read that right. The guy who founded Tesla—Elon Musk himself—allegedly doesn’t insure his own car. And not just any car... we’re talkin’ about a Tesla Model X, worth over $100,000.

So what gives? Is he reckless? Overconfident? Or is there a money move behind it that the rest of us can learn from?

Let’s unpack the myth, the models, and the message for artists and lyricists trying to protect their own assets—even if they don’t roll in a Model X... yet.


What’s the Story With Musk’s Uninsured Model X?

During a talk a few years back, Musk reportedly mentioned that he doesn’t insure his own Tesla. He joked that if he crashed, “the company would probably just give him another one.” Some saw it as bravado, others as a window into the billionaire mindset.

While the details are not officially confirmed, the logic is worth exploring. Why would one of the richest men in the world skip insurance—something the average person needs just to drive?


A Quick Look at the Tesla Model X

Before we get deeper, here’s what he’s allegedly not insuring:

  • Model X Plaid
    • 0–60 mph in 2.5 sec
    • Price tag: ~$108,000
    • Full self-driving capable
    • Falcon-wing doors
    • Nearly 350-mile range

Repair costs? Astronomical. One small accident could mean $25K–$50K in parts and labor.

Now imagine not having insurance on that. Bold move—or brilliant?


Why Musk Might Skip Insurance

1. Self-Insurance for the Rich

We all pay premiums every month to cover rare but costly events. Elon? He can afford to cover any damage out of pocket. That’s called self-insuring.

So instead of:

  • Paying $8,000+ annually on luxury car insurance
  • Filing claims
  • Dealing with rate hikes

He just eats the cost if something happens.

2. Insider Access

Let’s not forget—he owns the company. If his car’s totaled, he doesn’t go through an insurer—he just has it replaced or fixed at cost, maybe even by his own team.


What This Means for Creators & Lyricists

You might not be riding in a Model X (yet), but the same principle applies to your intellectual property.

Think of your lyrics like Musk’s Tesla:

  • They’re valuable
  • They take time and creativity to build
  • They can be damaged, stolen, or misused

If you don’t have lyric insurance, a stolen verse or an unpaid sync deal could wreck your earnings.

👉 Check out: Lyric Insurance Mistakes That CouldCost You Thousands


Regular People Need Protection

Unlike Musk, you can't afford to replace your “vehicle” (whether it’s a car or your lyric catalog) every time it takes a hit.

Car Insurance? Non-Negotiable.

Most states in the U.S. legally require auto insurance. Failing to comply can result in:

  • Fines
  • License suspension
  • Jail time (yup)

And even with Tesla’s own insurance option, coverage varies by state and may not include everything.

Creative Asset Insurance? Underrated.

Protecting your:

  • Lyric sheets
  • Original songs
  • Recording sessions
  • Royalties and copyrights

…is just as important. And yes, you can get insurance for that.


What If Elon’s Car Was Used in a Crime?

It’s one thing to skip insurance for a fender-bender. But what if the Model X is involved in:

  • An accident with injuries
  • Vandalism or theft
  • Legal liability from a third party

If uninsured, Elon would personally be on the hook. But again—he can afford top lawyers, settlement fees, and repairs without blinking.

Can you?


The Bigger Takeaway: Musk’s Risk Philosophy

Musk’s alleged “no-insurance” habit isn’t about being careless. It’s about calculated risk:

  • He saves money long-term
  • Has internal resources
  • Accepts responsibility instead of outsourcing risk

This applies directly to how lyricists manage their careers. Are you:

  • Outsourcing protection to chance?
  • Leaving your royalties vulnerable?
  • Not reading contracts before signing?

Time to level up.

👉 Start here: Should You License or Sell YourLyrics? The Financial Breakdown


Elon Musk allegedly doesn’t insure his own Tesla Model X. Whether that’s reckless or genius depends on your lens—but one thing’s clear: he can afford to take risks that most creatives can't.

If your lyrics, music, or car is critical to your future income, don’t leave it exposed. You’re not Musk—but you can protect your assets like a pro.

 

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