GEICO is Terminating Insurance Coverage of Tesla Cybertrucks, Says “This Type of Vehicle Doesn't Meet Our Underwriting Guidelines”

Lol

God, I hope other places follow. I work in insurance and not only is everything about the cybertruck an absolute fucking nightmare to source, let alone find a shop for, every single goddamn owner is like the most insufferable chod. That goes for women too. Tesla drivers could already be a problem, but the truck owners are like regular Tesla owners gone feral.

Pretty sure they were one of the last major companies that would...

Even if warranty pays for repairs to it, if it damages anything else the insurance still has to pay.

The article mentions multiple examples of them just randomly shutting down during operation. That's already bad. But this is going to be it's first winter, it's not surprising insurers don't want to deal with it. They deal with large numbers, it's not a question of "if" like an individual owner, its "when" for the insurer

More importantly, Anderson has eight vehicles. GEICO is only choosing to terminate the insurance coverage from Cybertruck and is actively pursuing renewal of his vehicle coverage for the rest. This leaves no doubt that GEICO’s issue is directly related to the Tesla Cybertruck and not to Anderson or other factors.

Why would someone own 8 vehicles?

Robert added, “It makes no sense, as there are other, riskier cars out there. Let me know if you recommend any insurer for the truck. I have eight cars with an amazing record. I will be canceling my entire Geico policy!! Bye-bye!”

I can't think of a vehicle that is more likely to be a risk to others than the Cybertruck. I'm sure insurance adjusters see how people use Tesla FSD in spite of its shortcomings. The truck is heavy as hell and breaks in all sorts of ways others vehicles don't.

No word from the insurance company itself? This whole article seems to be based on a single tweet by a cybertruck owner. For all we know his might be modded in a way that they dropped the insurance on it.

Why are insurance companies the ones making the rational decision about saying it's a dangerous piece of shit and not our transportation regulators? It needs to be banned.

In before trump’s new monkey calls the Gecko a pedo

Next do lifted pickup trucks please!

GEICO claiming this isn't true

https://www.theverge.com/2024/10/7/24264330/geico-insurance-coverage-cybertruck-cancelled-dropped-policy

"In an email to The Verge, Geico pushed back. “Geico has coverage available nationwide for the Tesla Cybertruck,” Geico spokesperson Ross Feinstein said. Feinstein did not immediately respond to follow-up questions about individual dropped policies. "

So maybe it was something VERY specific to this persons use of the truck?

Now if they would drop giant trucks and anything lifted

those things are very poorly made and all the most important parts are made of cheap plastic that an average person can literally rip off with his or her bare hands

Now that little gecko who works for GEICO will probably tell you "You can save a load of money by switching to GEICO, and its so easy a caveman can do it, but we refuse to insure that abomination you call a Tesla Cybertruck that needs to be road illegal everywhere"

Semi-unrelated but insurance as a whole is bonkers right now and I’m not sure how much the average person knows. I work on commercial real estate. The whole industry is having to review tons of insurance waiver requests because insurance in some properties is out of control. Business either can’t get it for can’t afford it. Especially, in flood zones. I’m actually kind of worried about the damage these hurricanes are doing in the US. Not just in the lives lost, which is devastating, but also the financial damage of all the uninsured losses.

Warren Buffet refuses to insure Elon Musk

aka the battle of geriatric nepo babies

“transparent metal” that breaks if it gets too hot, gets wiped with a microfiber cloth, or tapped by a wedding ring… 😂

I want to feel bad for cyber truck owners, but at the same time these problems are not new and not unknown. So if you know that something is known to have problems, and you still buy it, don’t be so shocked that it has problems for you too.

It was only a matter of time before insurance companies did something. I mean is it really that surprising that a company known for not wanting to pay out money if they can avoid it would want to not insure a rolling money pit?

Makes sense. It's not a truck, car or SUV, it's a cosplay vehicle. Lego vehicles from the toy store will outlast this shitshow.

Tesla Insurance scam Policy in 3..2..1..

Hahahahahahahahahahahahaha

As much as I want it to be true, I couldn't find the original tweet that the reddit post mentions. It's not on that users profile when looking on Nitter.

The CyBeR-rUsT is a total piece of shit 💩

False claim, debunked by snopes. Mods should consider blocking this news outlet.

https://www.snopes.com/fact-check/geico-tesla-cybertruck-coverage/

https://youtu.be/An9nhAUUFE0

Could it also be that it's a $80K-$100K car?

I have no solid source, but read comments suggesting Geico tends to not insure "exotic" $100K+ luxury vehicles.

...And I think this is important to remember this when talking about it. The Cybertruck is not a peer of a F-150, but a G-Wagon, a Maserati Levante or whatever.

I love this!

I’m waiting for any kind of sourcing of this that’s more than “a guy on Twitter shared the text of his rejection letter.”

This letter does not clarify if, as a matter of policy, all cybertruck insurance will be categorically rejected.

Who wants to bet that notorious petty shitcunt Elon will revoke GEICO's Twitter access in retaliation