Insurance Companies Cancelling CT Policies?

[DittoDan]

Is this true? Insurance policies on CT's are being cancelled? Or click bait?

https://www.msn.com/en-us/money/new...er&cvid=1551ed999b42477cfaccfd5357a129e2&ei=8

Dan the Man from Michigan

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[AverageJoe]

Not canceled here. Kentucky with Progressive

 

[gooshjkc]

So far, I‘m good. However, if this is true, insurance companies need to be fair. The Cybertruck is the most sold EV truck on the market. Meaning they should do the same for other EV trucks.

 

[RedneckRedcoat]

Picking mine up tomorrow, my existing company (National General) quoted me 900 a month (I assume to get me to go away)

Progressive did it for 190 (And my insurance is usually higher than most peoples as I've only three years of US driving record)

 

[MetalBonsai]

Is this true? Insurance policies on CT's are being cancelled? Or click bait?

https://www.msn.com/en-us/money/new...er&cvid=1551ed999b42477cfaccfd5357a129e2&ei=8

Dan the Man from Michigan

Click bait. I never trust robovoice videos. If it were actually a thing, we'd know about it here first from actual owners. Not through MSN or... what was it... Money Talks News?

 

[HaulingAss]

It's just anti-Tesla FUD (both the article and the decision for Hanover Insurance to stop insuring Cybertrucks. The article only cites one insurance company who has dropped coverage of the Cybertruck, Hanover Insurance.

Hanover only has 0.4% of the U.S. auto insurance market. And 41% of their insured vehicles are in Michigan, home of big American auto.

See what is going on here? If you are unfortunate enough to be insured by a company that doesn't want to insure the Cybertruck, get a better insurance company that wants your business!

 

[Gigahorse]

So far, I‘m good. However, if this is true, insurance companies need to be fair. The Cybertruck is the most sold EV truck on the market. Meaning they should do the same for other EV trucks.

It was, unfortunately it has fallen behind the F-150 lightning, hopefully not for long.

 

[mahdir35]

It was, unfortunately it has fallen behind the F-150 lightning, hopefully not for long.

Yes, but…F-150 Lightnings are significantly cheaper with inferior technology than the Cybertruck. None of the EV Truck sales reporting ever seem to remember to mention that import tidbit of info, smh

 

[Gigahorse]

Yes, but…F-150 Lightnings are significantly cheaper with inferior technology than the Cybertruck. None of the EV Truck sales reporting ever seem to remember to mention that import tidbit of info, smh

agreed, but people usually buy on value. if the CT is way better than the F-150 (which I personally think it is) it should be selling more units

 

[SCTesla]

There were a few cases reported here and TMC, but it was a while ago and by few, I mean like 3 or 4 people and it was last year.

Some truth, but mostly fabricated.

https://www.cybertruckownersclub.co...the-tesla-cybertruck.24970/page-2#post-418717

 

[Gaximus]

So far, I‘m good. However, if this is true, insurance companies need to be fair. The Cybertruck is the most sold EV truck on the market. Meaning they should do the same for other EV trucks.

Not sure what volume has to do with it. Companies cancel CT because it’s like a sports car(hp to weight, CB is about 272 hp/ton which puts it well above high performance sport cars and in the race car category).
I think what is happening on the rare case of policy cancel, is when a company gives a policy when you first buy a car, then they do the background check to see how much of a risk you actually are, then raise your rates accordingly, or if you are too risky, then they cancel it. Each company has different risk acceptance rates.

 

[woodersonowl]

Progressive actually lowered my rate - but I have multiple vehicles on the policy and I live in the sticks.

 

[navycamp]

No issues with USAA.

 

[Art138]

166.00 per month on Progressive for my CTB.

 

[Art138]

No issues with USAA.

I have USAA for my other cars but they wanted 1,700 for 6 months so went with Progressive.

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