Geico to terminate Tesla cybertruck policies
 

Interesting . I wonder if all insurance companies both home and auto will do similar moves to reduce risk .

https://www.torquenews.com/11826/geico-terminating-insurance-coverage-tesla-cybertrucks-says-type-vehicle-doesnt-meet-our

Wow! I wonder if that's going to tank Tesla stock. My guess is "some but it'll bounce back".

doesn't tesla offer car insurance also?
As a broker? Underwriter? Risk taker?

I know I read it somewhere.....

what's your point? Pcars are a "risk" car too.

GEICO rejected his policy, as the "reporter" stated, not all policies, as the "reporter" didn't investigate.

Cancelling one does not equate to cancelling all.

They only write in 12 states at this time.

GEICO still insures Cybertrucks.

https://www.theautopian.com/geico-says-it-will-renew-tesla-cybertruck-policies-nationwide/

But at what price?

My oldest son works for an insurance company doing risk analysis . His company doesn't insure any Tesla vehicles .

Did he say why?

He didn't and I didn't ask .

I’ll guess repair costs are overwhelming.

15 years ago Liberty Mutual was the Tesla point of sale direct carrier. The cost of repairs was so great for collision losses Liberty told Tesla you have to make your cars more serviceable and cost effective to repair if they wanted the carrier to represent and insure the brand. Tesla actually listened and revised much of the collision repair guidelines. Full panel replacement on unisides down to partial panel replacement for the weld/ bonded inner structure. Sectioning of lock pillars versus full quarter panel replacement etc. Cost of repairs were drastically reduced in cost as well as loss of use. This filtered down from the S to the X models which were heavily constructed of aluminum. The Model 3 is primarily steel which reduced build/ sale cost compared to its bigger siblings.

For insurers its a numbers game based on risk. Another insurer will fill the gap left by Gieco.

More Cybertrucks will be sold and that gap will be profitable.