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GEICO is Terminating Insurance Coverage of Tesla Cybertrucks, Says “This Type of Vehicle Doesn't Meet Our Underwriting Guidelines” (www.torquenews.com)

submitted 2 months ago by shoulderoforion@fedia.io to c/technology@lemmy.world

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GEICO, the second-largest vehicle insurance underwriter in the US, has decided it will no longer cover Tesla Cybertrucks. The company is terminating current Cybertruck policies and says the truck “doesn’t meet our underwriting guidelines.”

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[-] Pogogunner@sopuli.xyz 138 points 2 months ago

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.

[-] bluewing@lemm.ee 2 points 2 months ago

I would assume he's either a car collector or he owns a small fleet of work vehicles for his small business, (like a plumbing business or such).

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this post was submitted on 06 Oct 2024

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