Press SpaceX CEO Elon Musk touted low insurance costs as proof of the improving reliability of his company’s Falcon 9 rockets.
“Last I checked, over a million dollars less to insure a Falcon 9 mission,” Musk said.
A top space insurance underwriter explained that Musk’s reference is true for insurance premiums, which are based on the rocket’s price tag, but not for the insurance rate, which is based on the market’s perceived reliability of the rocket.
Source: Elon Musk: SpaceX Falcon 9 rocket ‘over a million dollars less’ to insure
