Tesla Cybertruck Insurance coverage Protection NOT Dropped By GEICO – CleanTechnica – Uplaza

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The rumor swirling earlier as we speak was that GEICO had dropped Tesla Cybertruck protection. Reportedly, “the truck does not meet its underwriting standards,” Looking for Alpha summarized. The information was that GEICO would drop present protection for Cybertrucks in addition to not offering new insurance coverage. Right here’s a message posted on social media by a Cybertruck proprietor who bought the unhealthy information from GEICO:

The one downside is: none of that is really true. Nicely, virtually none of it.

GEICO remains to be offering insurance coverage to Cybertruck house owners. “Teslarati reached out to GEICO on Monday morning to confirm that the insurance firm is no longer covering Cybertruck. The insurance company said it still insures Cybertruck for personal and commercial uses,” Joey Klender at Teslarati writes. Protection is out there nationwide.

So, what the heck is occurring? That is what’s happening: “Tesla Cybertruck’s gross weight and some potential challenges with parts availability if it were in need of repair, caused customers to receive notices that PPA insurance would not be renewed. However, GEICO said that it would reach out to any customers who might have received this nonrenewal notice, and Cybertruck policies have always been and still remain available.”

Fascinating. No doubt, the Cybertruck … just isn’t regular. If a Cybertruck will get into an accident or has a difficulty that ropes within the insurance coverage firm, I think about the prices of restore and delays getting repairs might be fairly excessive. No conventional auto restore store goes to have the ability to assist you to, and Tesla is struggling to ramp up manufacturing, so who is aware of if the components you want might be out there anytime quickly. Moreover, the Cybertruck clearly requires some distinctive and pinpoint manufacturing work to construct, and re-building a part of a truck could possibly be difficult or could possibly be put in the back of an extended queue. We’ll see what comes of this, however it seems that a few of these points triggered an automated change in GEICO’s system that led to the preliminary letters being despatched out. Whereas we’ve now realized that Cybertruck house owners can nonetheless get (and preserve) insurance coverage from GEICO, one has to surprise if Cybertruck insurance coverage prices are going to go increased. We’ll see.

After all, as any new mannequin ramps up, manufacturing turns into cheaper and simpler, and repairs additionally grow to be cheaper and simpler in time. One would assume this might even be the case with the Cybertruck. Nevertheless, once more, as a result of it’s such an uncommon car, we now have to attend to see how issues progress on this regard, and what which means for insurance coverage protection and prices.

For now, although, no must panic. Any Cybertruck house owners right here have any more information to share concerning Cybertruck insurance coverage?