Auto Insurance on the Cybertruck

[Jhodgesatmb]

I'm not sure how cheap insurance is on the current Tesla vehicles, but I'm thinking the CT will be pretty cheap insurance. The body won't dent, the glass is bullet proof, tons of safety features, the vault will provide security as it will be tough to break into, and the current Tesla vehicles have some of the highest safety ratings of any vehicle and I assume the CT will be the same.

Insurance companies go by how many vehicles are on the road, what the repair costs are, and probably many factors, and these will simply not be available early on. So unless We get a Tesla insurance (which doesn’t seem very low to me) I would swap the word “cheap” for “expensive”.

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[alan auerbach]

I'm not sure how cheap insurance is on the current Tesla vehicles, but I'm thinking the CT will be pretty cheap insurance. The body won't dent, the glass is bullet proof, tons of safety features, the vault will provide security as it will be tough to break into, and the current Tesla vehicles have some of the highest safety ratings of any vehicle and I assume the CT will be the same.

Sorry but I doubt that. Why? Insurers base their rates on records (their own, plus industry-provided records) of the cost of claims. When there are no such records (in the case of a radically new model), they protect themselves by assuming the worst. As would you, if you were an insurer.

There's more. Insurers generally get a discount from repair shops (which hope to attract repeat business or recommendations). But some shops, not knowing what they'd be getting into, decline even giving an estimate on Teslas. That reduces the competition, which tends to elevate the costs.

Good that this issue has come up because when it comes to total ownership costs most buyers don't factor in the cost of insurance. I expect my Cybertruck to cost very little to fuel. It might barely depreciate (or even appreciate) over time. Maintenance could be around zero if I take it easy on the tires. But I expect to pay big bucks to insure it, at least until CTs establish a favorable rating with insurers -- which I'm not counting on.

 

[SantasCybertruck]

I was paying $1600/yr with State Farm on my Model X which dropped to $800/yr when I switched to Progressive because they consider the safety features of a Tesla. However, I think by the time the Cybertruck is produced Tesla will insure these trucks themselves. Insurance companies that don't consider the full self driving and standard safety driving features of a Tesla are only delaying their own auto insurance demise. Tesla will have all the safety data per driver and also know the repair costs. This will be another multi-billion dollar RECURRING cash flow stream for Tesla.

 

[William A Klauber]

Y'All're dancing around the elephant in the room (re Tesla vehicle insurance)!
WE ARE sending THEM billions of miles for their autonomous driver date base,
WHY won't TESLA go nationwide and ultimately worldwide with their vehicle insurance based on our driving performance history?

That's EXTORTION, not vehicle insurance ???️?

 

[Sirfun]

It seems like the single-motor $39,900 0-60 in 6.5 sec. CT would be WAY less expensive., then the Tri-motor $69,900 0-60 in 2.9 sec. That kind of power and speed would send fear to any insurer. Think of a Hellcat vs. a standard Charger.

 

[William A Klauber]

It seems like the single-motor $39,900 0-60 in 6.5 sec. CT would be WAY less expensive., then the Tri-motor $69,900 0-60 in 2.9 sec. That kind of power and speed would send fear to any insurer. Think of a Hellcat vs. a standard Charger.

Ergo: Only Tesla should insure Tesla vehicles; THEY have our driving date in hand and know who is a safe driver and who is an insurance risk....

 

[William A Klauber]

I was paying $1600/yr with State Farm on my Model X which dropped to $800/yr when I switched to Progressive because they consider the safety features of a Tesla. However, I think by the time the Cybertruck is produced Tesla will insure these trucks themselves. Insurance companies that don't consider the full self driving and standard safety driving features of a Tesla are only delaying their own auto insurance demise. Tesla will have all the safety data per driver and also know the repair costs. This will be another multi-billion dollar RECURRING cash flow stream for Tesla.

AMEN, my CyberBrother!!!

 

[Muskwatcher]

It was the Motortrend link in post #2, and it was actually up to $3400 a month, I am guessing for it to be that high it has to be in a city possibly NY/NJ. I had good rates when I lived in AZ and I have since moved to the country in NC and my insurance rates dropped

The article did not specify what time frame for the $2400- $3300. But if we compare it to the other rates they listed in the article its pretty clear they meant for a years coverage.

 

[Robesaw]

Y'All're dancing around the elephant in the room (re Tesla vehicle insurance)!
WE ARE sending THEM billions of miles for their autonomous driver date base,
WHY won't TESLA go nationwide and ultimately worldwide with their vehicle insurance based on our driving performance history?

I’m sure that is the plan.

 

[William A Klauber]

Only when enacted will I believe it. Dealing with Tesla Sales is tedious for us older guys who know better!

 

[ccudrew]

Some companies like AARP won't insure Tesla's

 

[TerryMack]

I'm not sure how cheap insurance is on the current Tesla vehicles, but I'm thinking the CT will be pretty cheap insurance. The body won't dent, the glass is bullet proof, tons of safety features, the vault will provide security as it will be tough to break into, and the current Tesla vehicles have some of the highest safety ratings of any vehicle and I assume the CT will be the same.

I posed that very question to State Farm and they said the price of insurance for CyberTruck will be based solely on its price/value! It can be the safest vehicle but the insurance will be based on the $50K OR $70K price tag!

 

[mrbulk]

...maybe just until they can get more crash data, both from testing and ... real world

 

[William A Klauber]

Neither would Geico in South Carolina re. my Mod3 purchase a coupla years ago... meanwhile Tesla vehicle insurance availability hasn't even tried to work its way outa California yet ??
Something is ? here?

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