this post was submitted on 06 Oct 2024
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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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[–] givesomefucks@lemmy.world 166 points 1 month ago (60 children)

Pretty sure they were one of the last major companies that would...

Even if warranty pays for repairs to it, if it damages anything else the insurance still has to pay.

The article mentions multiple examples of them just randomly shutting down during operation. That's already bad. But this is going to be it's first winter, it's not surprising insurers don't want to deal with it. They deal with large numbers, it's not a question of "if" like an individual owner, its "when" for the insurer

[–] danc4498@lemmy.world 52 points 1 month ago (17 children)

Class action lawsuits are gonna be a mother fucker

[–] partial_accumen@lemmy.world 85 points 1 month ago (16 children)

Class action lawsuits are gonna be a mother fucker

Part of the purchase agreement of a Tesla agreeing to binding arbitration. This means no class action suit. You can opt out of this within the first 30 days, but you have to send a letter requesting it.

How many Tesla owners do you think do that?

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

This didn't work for valve so I can see it also going poorly for Tesla.

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