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GEICO is Terminating Insurance Coverage of Tesla Cybertrucks, Says “This Type of Vehicle Doesn't Meet Our Underwriting Guidelines”
Torque News ^ | 10-06/2024 | Author: Tinsae Aregay

Posted on 10/06/2024 8:53:32 PM PDT by Responsibility2nd

Robert Stevenson, a Tesla Cybertruck owner, recently revealed that GEICO is kicking out his Cybertruck from his multi-vehicle insurance policy.

In a post that was first shared on X and later reposted on Reddit, Robert writes, “@GEICO said they can no longer insure my Cybertruck.”

Robert added, “It makes no sense, as there are other, riskier cars out there. Let me know if you recommend any insurer for the truck. I have eight cars with an amazing record. I will be canceling my entire Geico policy!! Bye-bye!”

Below his post, the Cybertruck owner included the letter he received from GEICO informing him that his Cybertruck insurance policy was terminated.

Here is what the letter reads…

“2024TESLACYBERTRUCK

VIN: xxxxxxxxxxxxx

Policy Number: xxxxxxx

Dear xxxxx

We would like to thank you for choosing GEICO for your insurance needs. After a careful review of your policy records, we have determined that we are unable to continue your insurance coverage for the 2024 TESLA CYBERTRUCK.

We have taken this action for the following reason(s): We are unable to insure your 2024 TESLA CYBERTRUCK xxxxxxx because this type of vehicle doesn't meet our underwriting guidelines.

Therefore, we must notify you as follows:

ALL COVERAGE ON THE 2024 TESLA CYBERTRUCK PROVIDED BY GEICO CASUALTY COMPANY, UNDER THE ABOVE POLICY NUMBER, WILL NON-RENEW AS OF 12:01 A.M. ON xx/xx/xx.

We are able to continue coverage on the remaining vehicle(s) on your policy.

Your updated policy documents will follow shortly. We regret that circumstances require this action and urge you to obtain other coverage on the 2024 TESLA CYBERTRUCK prior to xx,xx, 2024.”

If you have any questions, please do not hesitate to contact us at the number below.

(Excerpt) Read more at torquenews.com ...


TOPICS: Business/Economy; Travel; Weird Stuff
KEYWORDS: cybertruck; ev; firetraps; geico; insurance; tesla
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To: Responsibility2nd

I think insurance companies ought to add to the premiums from the fact that EV’s have zippy acceleration and are easier to drive fast in curves (with the low center of gravity). They are basically sports cars on steroids.


21 posted on 10/07/2024 4:22:57 AM PDT by Tell It Right (1 Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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To: Responsibility2nd

Most of the suggested reasons don’t explain why the wouldn’t offer liability coverage.


22 posted on 10/07/2024 4:33:28 AM PDT by circlecity
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To: Responsibility2nd

I’m waiting to see when the health insurance companies stop giving coverage to those who have taken the vax.


23 posted on 10/07/2024 4:35:27 AM PDT by Tom Tetroxide
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To: Responsibility2nd

Punishing Musk?


24 posted on 10/07/2024 4:42:32 AM PDT by MayflowerMadam (I'm voting for the convicted felon with the pierced ear. )
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To: circlecity; Responsibility2nd

I agree that it appears to be a lemon of a vehicle. Those do happen. But there is a bigger problem lurking below the surface apart from the charging issues, and mechanical issues, and even the battery fires.

The coming reluctance and eventual refusal to insure EVs. And it isn’t just that.

EV users will (I predict, unless battery technology changes dramatically soon) be denied access to ferries, parking garages, and even the owners own garage. I can see the day where your house will not be covered in the event it is damaged or destroyed by an EV fire.

Don’t get me wrong-EV owners will likely be able to get insurance, but it will so prohibitively expensive as to be unobtainable for most people.

I hear people say all the time that ICE vehicles catch on fire too. And that is true. But not with the same frequency, ferocity, or root cause.


25 posted on 10/07/2024 4:59:08 AM PDT by rlmorel ("A people that elect corrupt politicians are not victims...but accomplices." George Orwell)
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To: Responsibility2nd

The Cybertruck is the dumbest vehicle ever made. A ridiculously expensive, technically and mechanically absurd mess, that makes the old GMC gremlin look like an Aston Martin.


26 posted on 10/07/2024 5:04:53 AM PDT by Sicon ("All animals are equal, but some animals are more equal than others." - G. Orwell>)
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To: Red6

Government
Employees
Insurance
Company.


27 posted on 10/07/2024 5:12:17 AM PDT by Texas resident (Que Mala= Bad Juju.)
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To: Red6
They are not an honorable or trustworthy business.

Perhaps, but they are not stupid.

28 posted on 10/07/2024 5:15:11 AM PDT by Fresh Wind (Kamala's New Way Forward = Chairman Mao's Great Leap Forward)
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To: Labyrinthos

Agree. It’s not a truck anyway it’s a misshapen box that weighs 6800lbs and is useless in real world life. Fine for the look at me rich city idiots.


29 posted on 10/07/2024 5:35:13 AM PDT by maddog55 (The only thing systemic in America is the left's hatred of it!)
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To: Responsibility2nd

To all the whiners out there,

IF YOU DON”T LIKE SOMETHING DON”T BUY IT.

It’s freedom, and capitalism. CHOICE of how to spend your money.


30 posted on 10/07/2024 6:08:30 AM PDT by BereanBrain
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To: maddog55
The Cyber Urinal:


31 posted on 10/07/2024 6:11:32 AM PDT by Fresh Wind (Kamala's New Way Forward = Chairman Mao's Great Leap Forward)
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To: lee martell

The goose guy died. Gilbert Gottfried.


32 posted on 10/07/2024 6:16:11 AM PDT by Rastus
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To: Responsibility2nd

Haven’t seen a GEICO TV ad for a very long time did their Gecko die ?


33 posted on 10/07/2024 6:21:05 AM PDT by butlerweave
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To: Sicon
The Cybertruck is the dumbest vehicle ever made. A ridiculously expensive, technically and mechanically absurd mess, that makes the old GMC gremlin look like an Aston Martin.

I consider it a prototype for early adopters. Future iterations will be much better - especially if lithium battery technology is superseded by a superior alternatives. There is always somebody willing to pay the price to go first.

34 posted on 10/07/2024 6:28:30 AM PDT by Mr. Jeeves ([CTRL]-[GALT]-[DELETE])
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To: Mr. Jeeves
"lithium battery technology is superseded by a superior alternatives"

Yeah, some day. In the meantime, you couldn't pay me to have one of those eyesores and potential bonfires sitting in my garage/driveway.

35 posted on 10/07/2024 6:33:22 AM PDT by Sicon ("All animals are equal, but some animals are more equal than others." - G. Orwell>)
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To: isthisnickcool

Anyone paying attention to the overall complexity of new vehicles can also see the problem. There’s a reason the average new car is $45k. What happens when they get damaged? There’s so many parts, sub-assemblies, heat shields, sensors, calibration, etc. that need to come off, be inspected, etc., it’s going to be far more expensive than old cars that have none of this.


36 posted on 10/07/2024 6:33:53 AM PDT by fuzzylogic (welfare state = sharing of poor moral choices among everybody)
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To: willk

Cybertrucks look different.

Every other vehicle looks the same, including the other teslas.

This is because us (and global) safety features are so strict that a unique design simply isn’t possible anymore.

The cybertruck will kill anyone it hits, including bikers.

I don’t like government regs, but I have to side with geico on this. Tesla released a vehicle that no one else could release because they exempted themselves as a “technology company”.


37 posted on 10/07/2024 7:35:38 AM PDT by Celerity
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To: Responsibility2nd

GovEmpInsCo.
Warren Buffet’s company


38 posted on 10/07/2024 8:36:52 AM PDT by Zathras
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To: Responsibility2nd
From today...

Ben Affleck’s electric Ford Bronco breaks down on freeway while driving with son Samuel

39 posted on 10/07/2024 8:40:42 AM PDT by mewzilla (Never give up; never surrender!)
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To: fuzzylogic

GM is in big trouble with all the vehicles with the VVT lifter issues, I found out about this after I bought a late model Tahoe and they had to tear into the motor. This is going to be a big deal:

https://www.valerolaw.com/news/2023/6/21/more-on-the-class-action-lawsuit-alleging-lifter-failures-for-gm#:~:text=Which%20vehicles%20are%20impacted%3F,2014%20to%20present%20GMC%20Sierra


40 posted on 10/07/2024 8:53:13 AM PDT by isthisnickcool (1218 - NEVER FORGET!)
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