GEICO is Terminating Insurance Coverage of Tesla Cybertrucks, Says “This Type of Vehicle Doesn’t Meet Our Underwriting Guidelines”
https://www.torquenews.com/11826/geico-terminating-insurance-coverage-tesla-cybertrucks-says-type-vehicle-doesnt-meet-our/
46 Comments
The company that makes Squishmallows refuses insurance coverage for a vehicle unironically called the Cybertruck, made by the right-wing manchild who owns Twitter.
Everything in the previous sentence is completely true, this is the clown future we live in.
Geico is 100% owned by Berkshire Hathaway (Warren Buffett’s company)
I wouldn’t want to drive anything affiliated with that douche Leon anyways.
In other words, GEICO thinks they can lower premiums & grab market share by excluding the worst performing vehicle from their insurance pool.
Hello AmFam…? I may be switching to GEICO. Let the market decide, eh?
Probably failed the banana-in-the-tailpipe test.
Probably because they’re afraid people are so under water on their CT loans that they risk intentional totals
Not to mention collision repair impossibility with the stainless and castings.
Maybe someone at Geico just watched multiple Cybertruck drivers post videos of letting go of the steering wheel and watch their truck make potentially deadly moves while being controlled by a beta version of self driving software.
“there are other more riskier cars out there”
oh really, where Robert?
How is it possible that these death traps are legally allowed to be in the road? We’ve all seen the videos of them getting nearly totaled from what should be every day use for a TRUCK.
This is the beginning of the end for this turd of a product. Elon got away with suckering his cult of morons. But he can’t control the insurance companies that understand profit and loss calculations. This terrible vehicle is unrepairable and presents too large a liability. Demand will crater (even faster than it is already) once owners have no ability to insure their rolling heaps of shit. It’s over.
“We insure vehicles, not collections of cardboard, duct tape and metal that look like they’ve been haphazardly pieced together by a child with a 20-year-old bottle of Elmer’s glue and wrapped around a giant battery bought from Temu.”
So sad. Too bad.
I would consider the prudence exhibited by GEICO to be one many many other insurance companies will emulate.
Trump should get into the car insurance game to cover CTs specifically.
It’s absolutely insane a plainly unsafe vehicle received certification. We nuked GM rear wheel drive vehicle development for close to a century till the modern rear engine (or mid I forget which) corvette over “unsafe at any speed”. Now we have defective Husks on batteries failing for YouTube views in 4k. What the fuck.
**You’ve been gecko’ed by GEICO, tasteless drivers**
This thing should be banned permanently from roadways .. like in Europe
People are honestly on the side of insurance companies here? I dislike the cyber truck but my hate for insurance companies is way stronger.
Could be true for sure, but I notice how everyone on this thread is assuming a post from X quoting another Reddit user is being taken as gospel. It could be wrong, it could be one rep in Geico, who knows
We had to change insurance companies because of our solar and then 3 months later we got a newsletter advising how supportive of solar they are. One hand didn’t know what the other was doing
The European Union has standards on car safety and Cybertruck fails them. It has thin steel sheets which would act as blades in a collision and cut pedestrians up. The panels don’t fit together well, which makes the problem even worse. High damage to pedestrians is really expensive.
About damn time
This is good right??? 😅
I hope Tesla sues them, to make public those very closely held bullshit guidelines.
I’ve seen other “vehicles” that GEICO insures.
I can’t wait for this lawsuit. I’m bringing twizzlers for this one.
A Reddit post about an article about a Reddit post about a tweet
While I’m happy to call CTs trash, GEICO dropping coverage doesn’t mean a whole lot because they’re a shitty company too.
Elmo is going to have a meltdown and sue, blaming them for his shitty cyber truck nonsense
So basically it’s a crap vehicle.
My dad has a Series S and insurance was not happy about paying the 40000 for the replacement battery.
IDK what it is but I have started seeing a grip of them out of *nowhere* on a daily basis now. Wtf happened?
Legacy insurance will struggle
HAHAHAHAHAHAHA
Tesla has their own insurance company as well. It’ll be curious if they end up being the primary insurer for the truck and make modifications to the truck due to it being unsustainable insuring it
Meaning: The risk of insuring the vehicles is greater then the profit they expect. For the most part, it seems like insurance companies are hardcore number crunchers that don’t bow down easily to political or cult followings. I think their findings say far more about the product then any marketing or fan base proclamations.
GEICO said the Cybertruck exceeded their Nazi standards.
Now that chance to start that insurance business Tesla had plans for…
At this point, I would just chalk it up as a loss and just get rid of it. Pretty bad when an insurance company will not offer to insure you at even an astronomical rate. 🤷♂️
There’s several unforced design decisions that make this a human cookie cutter.
“More riskier”
A lot of salt in here over a vehicle the overwhelming majority of you couldn’t afford anyway…
I wonder how many of these are insured through regular insurance like AAA or Progressive versus premium providers like Hagerty
This is massive for Tesla. I don’t see how anyone can finance a Cybertruck without insurance being available and if Tesla has to backstop this with their own insurance they will lose a lot of money. They seem to have a lot of crashes and cost a fortune to repair.
I can’t see how this doesn’t make the Cybertruck unviable, anyone willing to insure them is going to charge a fortune.
Is it too much to ask to have them do one of their funny ads addressing this?
I wish we actually got to know why they did this. There’s no official statement from Geico, just a copy of an email saying they’re canceling his coverage. Saying it doesn’t meet their underwriting guidelines is incredibly vague
The lemon cars are coming to fruit.
I can’t even believe he’s allowed to produce those
This is the first thing that has actually made me think about switching to GEICO. 🦎
I see what passes for news these days is an article whose source of info is a meme subredddit repost of a Twitter post of some dude who was denied coverage.
Incredible work, guys. 10/10