Cybertruck homeowners have had fairly the yr 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 remembers 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 prospects could have obtained notices stating that PPA insurance coverage wouldn’t be renewed for this car.” The insurer added that it is going to be reaching out to impacted prospects.
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. Nonetheless, 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 reduce from the coverage by the Maryland-based insurer “as a result of one of these car doesn’t meet our underwriting tips.”
Stevenson doesn’t seem like the primary individual 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 related points insuring their angular monstrosities.
A lot of the customers reporting points insuring their Cybertrucks seem to be based mostly in New York and the encircling areas, nevertheless 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:
Thus far, 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, once you name Geico to acquire an estimate for Cybertruck, sure supervisors and reps let you know that Cybertruck is on a restricted record. 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 abruptly being triggered for some folks however not others. Is it an indication of issues to return for everybody utilizing Geico? What about different insurance coverage firms? There are some rumors that State Farm could observe go well with. Progressive downright REFUSES to insure any Teslas for brand new prospects in NY.
Nonetheless, different customers based mostly in locations like Florida aren’t reporting these identical points in the case of overlaying their vehicles. Geico has remained tight lipped on the issues insuring Cybertrucks, which led some Cybertruck consumers to take to Twitter X to plead with Elon Musk for help getting protection for his or her electrical vehicles. Thus far, Musk hasn’t responded to the queries from his involved followers.
Geico did, nevertheless, 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 non-public passenger vehicle (PPA) insurance coverage obtainable 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 elements availability for restore retailers, some prospects could have obtained notices stating that PPA insurance coverage wouldn’t be renewed for this car. Nonetheless, insurance policies for this car have at all times been obtainable via our business insurance coverage division, and now stay obtainable by way of PPA as properly.
GEICO might be reaching out to any prospects who could have obtained a non-renewal discover.
Might insurance coverage points be the most recent downside to hit Cybertruck consumers, following slippery accelerator pedals, lethal door edges and frunk openings which have a starvation for human fingers?
