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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[–] ThePantser@lemmy.world 119 points 1 month ago (15 children)

Why are insurance companies the ones making the rational decision about saying it's a dangerous piece of shit and not our transportation regulators? It needs to be banned.

[–] partial_accumen@lemmy.world 82 points 1 month ago (6 children)

I don't think insurance companies care of the trucks are dangerous per se. They care if they are expensive to repair, or prone to accidents which could attach liability to the policy holder and thereby the insurance company.

[–] 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.

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