Recent rumors suggested that GEICO was dropping insurance coverage for Tesla’s highly anticipated Cybertruck. A letter circulated online sparked panic among owners, stating that the company would no longer insure the all-electric pickup. However, GEICO has since clarified the situation, confirming that Cybertruck policies are still available.
The confusion began when a letter shared on social media claimed that GEICO would not renew any insurance coverage for the 2024 Tesla Cybertruck. The letter cited that the vehicle “doesn’t meet our underwriting guidelines” and indicated that coverage would be discontinued as of a certain date. This caused concern among Tesla enthusiasts and current Cybertruck reservation holders, who feared their insurance options were becoming limited.
GEICO Sets the Record Straight
After these rumors surfaced, Teslarati reached out to the company for clarification. The insurance company confirmed that it is still offering coverage for Tesla Cybertruck owners across the country, both for personal passenger use and commercial purposes. According to GEICO, there has been no change in their policy offerings for the Cybertruck.
“We have coverage available nationwide for the Tesla Cybertruck,” GEICO stated, dismissing the claims that the company was dropping the electric vehicle from its offerings.
Non-Renewal Notices
Although GEICO continues to insure the Cybertruck, some customers did receive non-renewal notices for personal passenger automobile (PPA) insurance. This seems to be due to the vehicle’s gross weight and potential challenges in sourcing parts if the vehicle needs repairs. However, GEICO has reassured customers that they will reach out to those who received this notice to explain the situation and resolve any misunderstandings.
Despite the initial fears, Cybertruck owners can breathe a sigh of relief. GEICO confirmed that the Cybertruck remains fully insurable through its private and commercial insurance divisions. In fact, a quote for the Cybertruck was successfully obtained on the same morning GEICO reaffirmed their stance.
For Cybertruck fans, this means you don’t have to worry about scrambling for alternative coverage. GEICO remains a reliable option as the Cybertruck gets closer to hitting the roads.
As the Tesla Cybertruck garners more attention, insurance companies are adjusting to its unique specifications. While there may be challenges related to weight and parts availability, the overall excitement for the vehicle hasn’t deterred major insurers from covering it. With this clarification, Cybertruck owners and future buyers can move forward confidently, knowing that coverage is still available.
