Cybertruck homeowners have had fairly the 12 months to this point in 2024. They’ve needed to clear personal their model new automobiles themselves, confronted rusting issues introduced on by transport points and been hit with 5 recollects already. Now, homeowners are reporting that each one this dangerous press has hit their insurance coverage, with some Cybertruck drivers reporting that their insurance coverage on the six-figure truck has been canceled.
Up to date Monday October 7, 2024 10:45 a.m. EST – Jalopnik obtained a press release from Geico confirming that “some clients could have obtained notices stating that PPA insurance coverage wouldn’t be renewed for this automobile.” The insurer added that it is going to be reaching out to impacted clients.
One Cybertruck proprietor took to Reddit this weekend to report that their insurance coverage had been canceled by Geico, explains Torque Information. Robert Stevenson reportedly has a Cybertruck listed on a multi-car coverage with Geico that features eight automobiles. Nevertheless, he claims that the Cybertruck was struck from the coverage by Geico, which stated it was “unable to proceed your insurance coverage protection.”
In copies of a letter Stevenson says he obtained from Geico, the Cybertruck was reportedly minimize from the coverage by the Maryland-based insurer “as a result of such a automobile doesn’t meet our underwriting tips.”
Stevenson doesn’t seem like the primary particular person to have their Cybertruck kicked off a Geico coverage, both. A fast go to to the Cybertruck Homeowners Membership reveals a string of different electrical pickup homeowners which have run into comparable points insuring their angular monstrosities.
Many of the customers reporting points insuring their Cybertrucks seem to be primarily based in New York and the encircling areas, nonetheless 2blentendre claims to have heard of comparable points affecting Cybertruck homeowners as far afield as Kansas. Because the poster defined on the Cybertruck Homeowners Membership:
Up to now, I can confirm that this has occurred to three separate people in Kansas, NYC, NY State (Lengthy Island). Whereas there appear to be many extra, these are those I can personally confirm.
Additionally, if you name Geico to acquire an estimate for Cybertruck, sure supervisors and reps inform you that Cybertruck is on a restricted listing. I’ve had one supervisor excerpts from the precise doc. It additionally listed automobiles like particular version Jaguars, Ferraris, and Lamborghinis.
The query is why is that this restriction instantly being triggered for some individuals however not others. Is it an indication of issues to come back for everybody utilizing Geico? What about different insurance coverage firms? There are some rumors that State Farm could comply with swimsuit. Progressive downright REFUSES to insure any Teslas for brand spanking new clients in NY.
Nevertheless, different customers primarily based in locations like Florida aren’t reporting these similar points relating to overlaying their vehicles. Geico has remained tight lipped on the issues insuring Cybertrucks, which led some Cybertruck patrons to take to Twitter X to plead with Elon Musk for help getting protection for his or her electrical vehicles. Up to now, Musk hasn’t responded to the queries from his involved followers.
Geico did, nonetheless, affirm that some Cybertruck homeowners “could have obtained” non-renewal notices impacting protection for his or her electrical vehicles. In a press release shared with Jalopnik, the insurer defined:
Tesla has personal passenger vehicle (PPA) insurance coverage accessible for the Tesla Cyberstruck. Clients can obtain a quote instantly on GEICO.com or by contacting our staff instantly by way of telephone.
Due to its gross weight and potential challenges with components availability for restore outlets, some clients could have obtained notices stating that PPA insurance coverage wouldn’t be renewed for this automobile. Nevertheless, insurance policies for this automobile have at all times been accessible by our industrial insurance coverage division, and now stay accessible by way of PPA as nicely.
GEICO shall be reaching out to any clients who could have obtained a non-renewal discover.
May insurance coverage points be the most recent downside to hit Cybertruck patrons, following slippery accelerator pedals, lethal door edges and frunk openings which have a starvation for human fingers?
