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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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[–] Nollij@sopuli.xyz 2 points 1 month ago (1 children)

The weird thing about this claim is that these aren't deal breakers. It's possible to get insurance for exotics like McLaren or Bugatti (although no idea if GEICO does those); it just costs a lot.

I'd really like to hear more about those underwriting standards.

[–] partial_accumen@lemmy.world 1 points 1 month ago

There probably aren't that many people using a Bugatti as a daily driver. For Cybertruck I would think there are many people using it as a daily.