As of October 2024, Geico no longer insures Tesla Cybertrucks. Our rating:
On Oct 5, 2024, an owner of a Tesla Cybertruck posted to X alleging that insurance firm Geico would no longer insure his car due to noncompliance with their “underwriting guidelines.”
Snopes has conducted its own investigation and determined the claim to be false. A Geico corporate spokesperson informed Snopes via email that coverage for Tesla Cybertruck is available nationwide with them.
Since its debut in November 2023, Tesla’s Cybertruck has experienced serious reliability issues since then. According to reports by Reuters and viral videos showcasing various problems such as completely shutting off after going through a car wash or catastrophically catching fire after hitting a fire hydrant have surfaced online.
Many online were mislead into believing the vehicle’s reliability issues were real; and several Cybertruck owners have reported having difficulty finding insurance, according to The Verge report. Yet those individuals may have been eligible due other considerations (for instance some Geico policies will only cover vehicles worth over $100,000; roughly the starting price of Cybertruck). Sources confirmed these claims of ineligibility as true by offering some potential sources proving such coverage was unavailable:
Aregay and Tinsae. GEICO Is Suspending Tesla Cybertruck Insurance Coverage Due to “This Type of Vehicle Not Meeting Our Underwriting Guidelines” | Torque News. Torquenews reported on Oct 6, 2024: Geico Is Terminating Tesla Cybertruck Policies Due To They Failing Our Underwriting Guidelines [Update]. “Geico Currently Doesn’t Offer Policies As Tesla CyberTruck Do Not Meet [Our] Guidelines” [Owner Claims]. Geico Is Cancelling Tesla Cybertruck Insurance Policies as It Moves Forward.” Rivers, Stephen. Tesla Cybertruck Catches Fire After Hitting Hydrant; Takes 90 Minutes to Put Out Road & Track (August 20, 2024). Available online:https://roadandtrack.com/news/a62009993… Salo, Josh Fiallo and Jackie Salo were interviewed as experts by Road & Track regarding Tesla Cybertruck fire that took over an hour to put out. In June 2019, Geico terminated Tesla Truck Owners Insurance amid Safety Concerns The Daily Beast published on 7 Oct 2024 an article entitled, Geico Hits Tesla CyberTruck with Insurance Terminations Amid Recalls; Shakir, Umar asserted “Geico Insists It Has Coverage For the Cybertruck After Owners Complain of Dropped Policies.” “Tesla Cybertruck No Match for Car Wash,” Jalopnik 17 Apr 2024: https://jalopnik.com/tesla-cybertruck-no-match-for-car-wash-185147011 The following week Tesla made another callback recall recall of over 27,000 cybertruck vehicles according to NHTSA (National High Technology Sales and Services Association). Reuter’s published an article saying this on 3 October: http://reuters.com/business/autos-transportation/tesla-recall-27000-cybertruck-vehicles-2024-10-31/.
