Lately, there seems to be some doubt and exasperation among the Tesla Cybertruck owners in terms of insuring their vehicles—Geico in particular seems to have taken the brunt of this. Some owners, for instance, mentioned that they were told that Geico would no longer provide them with insurance because the Cybertruck did not conform to their underwriting guidelines.
The issue first became evident when a social media user named Robert Stevenson, a Cybertruck owner, claimed that Geico had stopped providing insurance for his car. The claim spread to other forums like Reddit where other Tesla owners talked about similar issues.
Nonetheless, regarding the viral aspects, Geico claimed that they still provide coverage for the Cybertruck, but stressed that certain customers may have received non-renewal notifications owing to reasons including but not limited to the weight of the car and the challenge of finding spare parts for repairs. The company emphasized that it would cease to offer coverage for such vehicles, however, through its commercial division would be available to other individuals and wished to inform those who received the notices that it would work with them to fix the problem.
The problem of vehicle insurance becomes even more pronounced in the context of the radical design and construction characteristics of the Tesla Cybertruck, making it a complex vehicle worth talking about. Many owners have found that affordable insurance for their Cyber Trucks has proved difficult to bring, with some owners even being denied by insurance companies.
A case in point: Bearded Tesla Guy, a widely viewed Youtuber, claimed that his insurance agency did not let him extend his Cybertruck coverage policy at the start of the year, which stirred a panic among all the Cybertruck owners about insurance policies for the truck. Other insurance providers, like Progressive, have also been criticized for drastically increasing premiums for Tesla vehicles after the initial cheap offers.
Although Tesla has its own insurance service, the majority of the owners have resorted to it only after facing several hurdles with the dominant insurers. Nevertheless, there have been reports that damages to vehicles covered under Tesla’s insurance program also take a significantly long time to repair coupled with poor feedback.
With the rise of Cyber Trucks on the streets, it will be engaging to observe how the insurance policies for these futuristic yet complicated to fix vehicles will change. The case of Geico disturbed many, but after proper investigation, it appears that the problem was confined to a particular set of clients and not a general exclusion of insuring Cyber Trucks.
