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GEICO is Terminating Insurance Coverage of Tesla Cybertrucks, Says “This Type of Vehicle Doesn't Meet Our Underwriting Guidelines” (www.torquenews.com)

submitted 1 month ago by shoulderoforion@fedia.io to c/technology@lemmy.world

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GEICO, the second-largest vehicle insurance underwriter in the US, has decided it will no longer cover Tesla Cybertrucks. The company is terminating current Cybertruck policies and says the truck “doesn’t meet our underwriting guidelines.”

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[–] dohpaz42@lemmy.world 20 points 1 month ago

“transparent metal” that breaks if it gets too hot, gets wiped with a microfiber cloth, or tapped by a wedding ring… 😂

I want to feel bad for cyber truck owners, but at the same time these problems are not new and not unknown. So if you know that something is known to have problems, and you still buy it, don’t be so shocked that it has problems for you too.

It was only a matter of time before insurance companies did something. I mean is it really that surprising that a company known for not wanting to pay out money if they can avoid it would want to not insure a rolling money pit?