GEICO cancelling all Cybertruck insurance policies???? What????

[Cyberjam]

I just saw an article stating GEICO is pulling their coverage of Cybertrucks. I have GEICO and have not been notified myself as of right now. Has anyone else encountered this?

Here's the link to the article:

TorqueNews

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[eclipseforever]

I hope not but I haven't received anything yet.

 

[Crissa]

Usually this sort of thing is overblown.

Torque is not a great source, though there is a letter here. But someone's letter doesn't necessarily apply to someone else, even if the language infers it. It might be the type of insurance he has or regional or whatever.

-Crissa

 

[2blentendre]

Yes it's true, I have been trying to get this across everyone's attention for months.

https://www.cybertruckownersclub.co...e-on-geico-insurance-in-ny.22488/#post-413713



This issue needs more attention before other car insurances follow suit.

I've been trying to bring this to the attention of Tesla but have not been successful. It's very troubling. This used to be an issue in NY, now it seems to be happening in other states too. First Geico will provide you with insurance for the Cybertruck, then cancel in 2 weeks. In states without Tesla insurance, like NY, this causes a serious issue in that other car insurances either A) refuse to insure the Cybertruck or B) charge an EXORBITANT monthly fee.

What is happening with Geico is very inconsistent. Some customers are being told that the Cybertruck is a "restricted vehicle" and cannot be insured leading them to be dropped, while others are renewing their insurance without any issues. Some people, especially in NY seem to be immune to this issue, while others are getting dropped from Geico policy for having a Cybertruck.

It's truly puzzling and inconsistent. It feel like there is something we are missing here.

I'm have been trying to figure out what is triggering this non-renewal for certain people, but not others, but have not been successful. I am being ghosted by all the people and representatives from companies involved.

Tesla recently hired Allen Laben MBA who was a high-level Geico executive with the goal of easing Tesla’s car insurance concerns. I think he would be the prime person that can resolve this issue or least provide further information.

I’ve sent him a LinkedIn invite; however, I have not been successful yet in making contact with him to bring this issue to light.

 

[2blentendre]

So far, I can verify that this has happened to 3 separate individuals in Kansas, NYC, NY State (Long Island). While there seem to be many more, these are the ones I can personally verify.

Also, when you call Geico to obtain an estimate for Cybertruck, certain supervisors and reps tell you that Cybertruck is on a restricted list. I've had one supervisor excerpts from the actual document. It also listed cars like special edition Jaguars, Ferraris, and Lamborghinis.

The question is why is this restriction suddenly being triggered for some people but not others. Is it a sign of things to come for everyone using Geico? What about other insurance companies? There are some rumors that State Farm may follow suit. Progressive downright REFUSES to insure any Teslas for new customers in NY.

 

[smcnaughton829]

Yes GEICO told me they will not renew my insurance. I have 3 Tesla’s one being the Cybertruck. I am in NY (long island)
I have found AllState with coverage over $1300 a month, we are still looking and NOT happy about it.
Been busy so haven’t been able to spend the time to get more information from the rest of the normal companies.

 

[2blentendre]

Yes GEICO told me they will not renew my insurance. I have 3 Tesla’s one being the Cybertruck. I am in NY (long island)
I have found AllState with coverage over $1300 a month, we are still looking and NOT happy about it.
Been busy so haven’t been able to spend the time to get more information from the rest of the normal companies.

It might be worth going into the Westbury center and speaking to Taha the manager about this. He’s aware of it. Maybe he has some guidance based on what other customers are doing. You’re not the only one with this issue.

 

[LivinLrge]

I just got my Cyberbeast today, in Florida, Geico added no problem. We do have several vehicles as well and no history of accidents, claims ect. That may have been a factor possibly, maybe age as well of the primary driver, credit score ect.

 

[2blentendre]

I just got my Cyberbeast today, in Florida, Geico added no problem. We do have several vehicles as well and no history of accidents, claims ect. That may have been a factor possibly, maybe age as well of the primary driver, credit score ect.

I wish, but not the case. Many people this has happens to are middle or older age. No accidents. No tickets. Credit scores above 750.

 

[Cybertruck2024]

You can steal a Kia just by looking at it, and a Cybertruck is the vehicle which is uninsursble?

 

[smcnaughton829]

It might be worth going into the Westbury center and speaking to Taha the manager about this. He’s aware of it. Maybe he has some guidance based on what other customers are doing. You’re not the only one with this issue.

Thanks.
I’ll see if I can stop by. I use the Smithhaven SC they have delivered all 4 of my Tesla’s. Traded in the MY for the X plaid. Wife hated how small the Y was and LOVES the X. So much bigger.
I’m sure by now all SC are aware of this issue. I have talked to a few people who have the Cybertruck on order and are canceling it due to not being able to find insurance, or if they do find it , the rates are more then the payment of the truck.
I’m sure Tesla is getting some kind of push back here, or maybe that why I had to wait over 3 years for mine. Lol

 

[2blentendre]

Thanks.
I’ll see if I can stop by. I use the Smithhaven SC they have delivered all 4 of my Tesla’s. Traded in the MY for the X plaid. Wife hated how small the Y was and LOVES the X. So much bigger.
I’m sure by now all SC are aware of this issue. I have talked to a few people who have the Cybertruck on order and are canceling it due to not being able to find insurance, or if they do find it , the rates are more then the payment of the truck.
I’m sure Tesla is getting some kind of push back here, or maybe that why I had to wait over 3 years for mine. Lol

I hope so, we really need a solution for this, fast!

 

[mark555055c]

Weird that it is so random. I just renewed and paid in full for 6 months a couple weeks ago in NY

 

[2blentendre]

There has been a suggestion on X that this may be related to the MSRP of the vehicle and that Geico doesn’t cover financed vehicles in excess of $100k MSRP.

Do you guys have Cyberbeast or AWD model?

 

[smcnaughton829]

There has been a suggestion on X that this may be related to the MSRP of the vehicle and that Geico doesn’t cover financed vehicles in excess of $100k MSRP.

Do you guys have Cyberbeast or AWD model?

CB for me. But when I got my X plaid it was also over $100k. GEICO hasn’t given me any issues with that at all.

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