GEICO is Terminating Insurance Coverage of Tesla Cybertrucks

[TheOilWizard]

False. Why would your rates go up if you're not at fault ? Look up "subrogation".

Rates may increase for any claim, including those which were not your fault.

Straight from the horses mouth:

https://www.progressive.com/answers/how-accidents-impact-insurance/

"It may seem unfair, but accidents that aren't your fault may still increase your rate depending on your state and insurer."

"Not-at-fault accidents can indicate a higher likelihood of future accidents"

 

[TheOilWizard]

You don't know how forums work, huh ? If one posts false information, don't be surprised when people rebut it.

Good point.

 

[Torrid]

You don't think it's because that on top of being an unreliable piece of junk, it's also unconventionally built and difficult (impossible) to repair?

I think it likely comes down to the liability when it’s the at fault vehicle in an accident too. How this thing is street legal is beyond me. It doesn’t qualify in most countries for safety standards for pedestrian crash, but beyond that it’s a rolling battering ram with nearly no crumple zones. It’ll kill people in a vehicle on vehicle accident in a way normal trucks likely would not just because they have properly engineered crumple zones to help reduce the amount of force transmitted to the passengers involved.

“If you get into an accident, you will win.” -Elon Musk

That’s a disgusting quote. Absolutely embarrassing.

 

[JHZR2]

I think it likely comes down to the liability when it’s the at fault vehicle in an accident too. How this thing is street legal is beyond me. It doesn’t qualify in most countries for safety standards for pedestrian crash, but beyond that it’s a rolling battering ram with nearly no crumple zones. It’ll kill people in a vehicle on vehicle accident in a way normal trucks likely would not just because they have properly engineered crumple zones to help reduce the amount of force transmitted to the passengers involved.

“If you get into an accident, you will win.” -Elon Musk

That’s a disgusting quote. Absolutely embarrassing.

I suspect you could say the same for most of the 2500 series or bigger pickups rolling down the highways at illegal speeds, and gracing the parking lots with their presence.

 

[fdcg27]

In most of our country owning and using personal transportation is more of a necessity than a privilege.
Proof of financial responsibility in Ohio is a laughably low $30K but only two states require no insurance nor proof of financial responsibility.
An insurer deciding not to cover any given vehicle is okay since there are lots of other vehicles to choose from as well as lots of other insurers.
We've had a long discussion here with no real point.
Responsible people, those with something to loose, carry ample liability insurance. This would describe almost all CT owners. That they can't get coverage from any given company isn't really an issue.
If almost no company wants to insure some vehicle, that would point to a problem with the vehicle, not the insurance industry.
We need to all bear in mind that any vehicle should be no more nor less than a means of transporting us and ours where we want to go. The desire to impress the hoi poli is silly and childish.
I'm personally a whole lot more impressed with a nicely kept W123 or E12 than I'll ever be with a CT, but the average CT buyer lacks the goof taste required to appreciate these lovely old cars that are perfectly usable as daily drivers.
Had a couple of W123s and really enjoyed them personally.

 

[Pew]

I think it likely comes down to the liability when it’s the at fault vehicle in an accident too. How this thing is street legal is beyond me. It doesn’t qualify in most countries for safety standards for pedestrian crash, but beyond that it’s a rolling battering ram with nearly no crumple zones. It’ll kill people in a vehicle on vehicle accident in a way normal trucks likely would not just because they have properly engineered crumple zones to help reduce the amount of force transmitted to the passengers involved.

“If you get into an accident, you will win.” -Elon Musk

That’s a disgusting quote. Absolutely embarrassing.

But to be fair, it still passed all the same federal requirements.

 

[Torrid]

I suspect you could say the same for most of the 2500 series or bigger pickups rolling down the highways at illegal speeds, and gracing the parking lots with their presence.

For sure, but I’m saying outside of openly breaking the law. A 2500 is heavy too, but it isn’t lacking crumple zones. I don’t want to be hit by either, but I’d rather take my chances with the 2500.

It’s concerning to me that a vehicle that should be a commercial only vehicle is used as regular transportation, but the Cybertruck doesn’t even fit that description. I already haven’t been a fan of the modern truck so I'm less than impressed with Cybertruck for being even more of that thing with even less practical application.

 

[Torrid]

But to be fair, it still passed all the same federal requirements.

Kind of. It passed crash regulations for its own occupants. That’s really all we test for here.

 

[fdcg27]

Kind of. It passed crash regulations for its own occupants. That’s really all we test for here.

Yeah, we'll see how it looks when IIHS gets hold of one for its barrier crash test.
I doubt it'll look pretty for the crash test dummies.

 

[Torrid]

Yeah, we'll see how it looks when IIHS gets hold of one for its barrier crash test.
I doubt it'll look pretty for the crash test dummies.

Hasn’t that been done? I didn’t think it could be sold as a production vehicle without it.

I don’t know who did this test, but it doesn’t look great. There’s almost no give. The front bumper pushes a bit and just stops.

 

[MrStamper]

Switched from geico to progressive, saved 300 bucks. Dunno what got into geico. The beginning of the end for them?

 

[TheOilWizard]

Switched from geico to progressive, saved 300 bucks. Dunno what got into geico. The beginning of the end for them?

Nah.. it’s how the game works. Insurance companies slowly let your rates trickle up hoping you won’t shop for better rates. I bet in a year GEICO is cheaper again.

 

[demarpaint]

Nah.. it’s how the game works. Insurance companies slowly let your rates trickle up hoping you won’t shop for better rates. I bet in a year GEICO is cheaper again.

+1 Familiarity breeds contempt with insurance companies, shopping keeps them honest. I had Geico for years, switched to State Farm when Geico got greedy, then switched to The Hartford when State Farm got greedy. I check prices once a year. Having said that with the recent Hurricane events I expect rates to rise again, a lot and nation wide. Insurance companies don't like to lose money, it's the policy holders who get screwed. Bottom line shop around.

 

[alarmguy]

The state provides a certificate of self insurance once you meet their criteria.
One way or another the state forces me to have enough assets set aside or use third party insurance assets to cover any potential damages.
Why are people pushing so hard on this? Is it the word “force”?

The "people"force you to have insurance when driving on the roads they pay for. The laws in the states and the federal government are made by the voters who elect the representatives to write them. If you can get a majority in your state to demand that vehicles be free to go uninsured then you can vote for the person who promotes it. However I seriously doubt the majority will agree with you.

We are lucky to live in a society where majority rules. You are not even allowed to build a structure on property you own unless it confirms to the standards set your local zoning boards which represent the majority.

 

[alarmguy]

Nah.. it’s how the game works. Insurance companies slowly let your rates trickle up hoping you won’t shop for better rates. I bet in a year GEICO is cheaper again.

Exactly. I have been preaching in here for years. Even mocked by a select few as cheap.
I do not understand the loyalty people have to any service that they pay for. Insurance is one of them. You got it so right and I cant tell you how many times I repeat it in here. I truly try to help people.

That insurance company that some might love, run on an algorithm. If you are one who doesnt switch around and are loyal to that one company, they will creep up your rates. On top of that, they will show you a LONG list of discounts you are getting from them and it's all boloney. Kind of like a Macys ad. They list a list price, then put it on sale, even though the list price was never a price they intended to charge.
Same goes for insurance. I cant believe people still fall for bundling of policies such as homeowners with cars, boats and motorcycles. The more you bundle they more they know you wont switch because every renewal you will see a fake long list of discounts off their list price.

I have my cars with one company, my home with another and my boat and motorcycle with another. Oh and my life insurance with another on top of all that. I check rates a couple times a year online, if I find anything cheaper I sign up right away and cancel the other company even in the middle of the policy period. I do laugh to myself. Dont get me wrong, I have NO PROBLEM is someone doesn't mind paying more for a service for whatever reason. But to hear people complain about price, well I do know we all learn things in life, so if your not wanting to pay high costs for all kinds of insurance. Then log out of BITOG and go online and spend a few hours or an hour or two everyday looking for better rates. Do this every 6 months or so and sooner or later it will become second nature. They KNOW most Americans are to lazy, once they got you, you wont bother checking.

When you find it, get the new policy and cancel the old, the old will send you a refund. Also 90% of the time you will NOT save money bundling other types of insurance.

@MrStamper (hope this helps)

 

[TheOilWizard]

Exactly. I have been preaching in here for years. Even mocked by a select few as cheap.
I do not understand the loyalty people have to any service that they pay for. Insurance is one of them. You got it so right and I cant tell you how many times I repeat it in here. I truly try to help people.

That insurance company that some might love, run on an algorithm. If you are one who doesnt switch around and are loyal to that one company, they will creep up your rates. On top of that, they will show you a LONG list of discounts you are getting from them and it's all boloney. Kind of like a Macys ad. They list a list price, then put it on sale, even though the list price was never a price they intended to charge.
Same goes for insurance. I cant believe people still fall for bundling of policies such as homeowners with cars, boats and motorcycles. The more you bundle they more they know you wont switch because every renewal you will see a fake long list of discounts off their list price.

I have my cars with one company, my home with another and my boat and motorcycle with another. Oh and my life insurance with another on top of all that. I check rates a couple times a year online, if I find anything cheaper I sign up right away and cancel the other company even in the middle of the policy period. I do laugh to myself. Dont get me wrong, I have NO PROBLEM is someone doesn't mind paying more for a service for whatever reason. But to hear people complain about price, well I do know we all learn things in life, so if your not wanting to pay high costs for all kinds of insurance. Then log out of BITOG and go online and spend a few hours or an hour or two everyday looking for better rates. Do this every 6 months or so and sooner or later it will become second nature. They KNOW most Americans are to lazy, once they got you, you wont bother checking.

When you find it, get the new policy and cancel the old, the old will send you a refund. Also 90% of the time you will NOT save money bundling other types of insurance.

@MrStamper (hope this helps)

Some really good info here and I mostly agree with everything. I'll add a couple of additional thoughts:

Insurance premiums are super important... probably the most important factor when shopping for coverage. But I also don't underestimate service and reputation. I think there is value is calling down to my local agent to ask questions, make changes to the policy, etc. No waiting on hold. No runarounds. No 1800 numbers. I've used them for claims before and they treated me very well.

Furthermore, I have a couple friends that work in construction/roofing that I trust, and I've been told that some companies have a reputation for fighting/postponing legitimate claims. All insurance companies will do this to an extent, but some worse than others. I think there's value in paying slightly more for a company that has a good reputation in your area.

Regarding the insurance bundles, my experience has been quite different. The discount for bundling home/auto, or example, is absolutely significant to the point where shopping for individual policies is nearly a waste of time. Everyone's situations is different, so it's interesting that we've seen it work out differently for us.

 

[alarmguy]

Some really good info here and I mostly agree with everything. I'll add a couple of additional thoughts:

Insurance premiums are super important... probably the most important factor when shopping for coverage. But I also don't underestimate service and reputation. I think there is value is calling down to my local agent to ask questions, make changes to the policy, etc. No waiting on hold. No runarounds. No 1800 numbers. I've used them for claims before and they treated me very well.

Furthermore, I have a couple friends that work in construction/roofing that I trust, and I've been told that some companies have a reputation for fighting/postponing legitimate claims. All insurance companies will do this to an extent, but some worse than others. I think there's value in paying slightly more for a company that has a good reputation in your area.

Regarding the insurance bundles, my experience has been quite different. The discount for bundling home/auto, or example, is absolutely significant to the point where shopping for individual policies is nearly a waste of time. Everyone's situations is different, so it's interesting that we've seen it work out differently for us.

I dont have insurance claims, maybe that is why my rates are so low. I dont shop on service, I could care less, I REALLY mean that, having been driving since 1974 and owned homes since 1988 I never had a homeowner claim and never an at fault accident. I was in two in my lifetime, once back around 1978 a girl with no license ran a stop sign and another around 2010 a woman hit me in the rear while I was stopped for a school bus. She was a school teacher no less. Her first guilty sounding comment to the cop was, "I wasnt even on my phone" "Its in the back seat". *LOL* it was funny.

Low price always wins for me, I carry insurance just to make sure I dont get wiped out if something happens. I carry high deductibles and at the same time I carry the maximum amount of liability that the company offers. What I do is not right for everyone, we all have our comfort zone so I am not disagreeing with anyones choice.

Yeah, Insurance bundles. My car insurance is dirt cheap but if I bundle they cannot get close to the rate I get for my boat and motorcycle from another company. My homeowners insurance is through my builder who does use progressive and my car insurance company will not offer homeowner insurance where I live. Im not kidding, we are in a new home now but our last new home of 16 years, I would take an oath on a bible and say as best I can remember I had at LEAST 6 different homeowners policies in those 16 years and never did I bundle because I always managed to do better shopping online for different companies. I remember once, I canceled a policy and switched 3 weeks after my bank paid for the renewal. No problem, got a refund check in the mail for ht old policy and already paid for the new one with my credit card for that year. Bank picked up the following year.

Im not disagreeing that you do well, I am saying every zip code in the country can be different and also of course peoples credit score and insurance score will have a major impact on what one pays.
(good conversation BTW)
I love hearing other experiences because I have an open mind to all possibilities. I love shopping *LOL*

 

[ProbeGT]

If you are one who doesnt switch around and are loyal to that one company, they will creep up your rates.

...Then log out of BITOG and go online and spend a few hours or an hour or two everyday looking for better rates. Do this every 6 months or so and sooner or later it will become second nature. They KNOW most Americans are to lazy, once they got you, you wont bother checking.

@MrStamper (hope this helps)

This. Every year I get quotes from multiple companies and compare rates. I have switched enough times to know that all insurance companies penalize customers for being loyal. They always try increasing rates and those increases get progressively larger as time goes on. For a while I thought GEICO may be the exception to the rule. They kept my auto rates reasonable for about 8 years with only small increases but then they more than made up for it and tried increasing my rates by 80% YoY. No claims, no new vehicles, just straight up gouging. When I called to inquire about reasons, they couldn't come up with any, other than inflation. Yeah, inflation is bad but it's not 80% YoY. They tried to sell me on some big-brother "driving habits" monitoring scheme for a tiny discount, riiight. Switched out and got a rate only 10% higher than my original rate.

.Regarding the insurance bundles, my experience has been quite different. The discount for bundling home/auto, or example, is absolutely significant to the point where shopping for individual policies is nearly a waste of time. Everyone's situations is different, so it's interesting that we've seen it work out differently for us.

I got bundle quotes many times in the past and they were always more expensive than individual policies with different insurance companies.

 

[TheOilWizard]

I dont have insurance claims, maybe that is why my rates are so low. I dont shop on service, I could care less, I REALLY mean that, having been driving since 1974 and owned homes since 1988 I never had a homeowner claim and never an at fault accident. I was in two in my lifetime, once back around 1978 a girl with no license ran a stop sign and another around 2010 a woman hit me in the rear while I was stopped for a school bus. She was a school teacher no less. Her first guilty sounding comment to the cop was, "I wasnt even on my phone" "Its in the back seat". *LOL* it was funny.

Low price always wins for me, I carry insurance just to make sure I dont get wiped out if something happens. I carry high deductibles and at the same time I carry the maximum amount of liability that the company offers. What I do is not right for everyone, we all have our comfort zone so I am not disagreeing with anyones choice.

Yeah, Insurance bundles. My car insurance is dirt cheap but if I bundle they cannot get close to the rate I get for my boat and motorcycle from another company. My homeowners insurance is through my builder who does use progressive and my car insurance company will not offer homeowner insurance where I live. Im not kidding, we are in a new home now but our last new home of 16 years, I would take an oath on a bible and say as best I can remember I had at LEAST 6 different homeowners policies in those 16 years and never did I bundle because I always managed to do better shopping online for different companies. I remember once, I canceled a policy and switched 3 weeks after my bank paid for the renewal. No problem, got a refund check in the mail for ht old policy and already paid for the new one with my credit card for that year. Bank picked up the following year.

Im not disagreeing that you do well, I am saying every zip code in the country can be different and also of course peoples credit score and insurance score will have a major impact on what one pays.
(good conversation BTW)
I love hearing other experiences because I have an open mind to all possibilities. I love shopping *LOL*

The two claims I've filed in the past 3 years include hail damage (new roof) and getting hit by an uninsured driver. Unfortunate, but that's why we have it I suppose. Filing claims is often not entirely in your control. I can say with confidence that when you're in these stressful situations, having a company support you through the process is beneficial and makes your life easier. This is when service starts to matter

But yeah, I get it, as long as you never have to deal with claims, the above is largely a non-concern.

 

[fdcg27]

Hasn’t that been done? I didn’t think it could be sold as a production vehicle without it.

I don’t know who did this test, but it doesn’t look great. There’s almost no give. The front bumper pushes a bit and just stops.

No, IIHS does a slightly higher speed barrier crash test than what is required by federal regs, and the results are dramatically more severe.