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A new Cybertruck owner in Canada says multiple insurance providers have refused to cover his Cybertruck. The person who goes by the username Man Snow shared his story on the Tesla Cybertruck Canada group on Facebook.
The story was later reposted on Reddit, and Snow says the insurance providers are particularly averse to covering the tri-motor Cybertruck Cyberbeast.
Here is what he wrote…
“CYBERBEAST INSURANCE HELP! Could anyone provide a reference for a broker/insurance company that will insure the Cybertruck Cyberbeast at a reasonable rate? Most companies I have contacted are refusing to quote the Cyberbeast, but there is no problem with the lower-value dual motor set-up.”
Continuing his post, Snow details the rejections he received from various Canadian insurance providers, with the most surprising reason coming from Economical Insurance. Economical refused to provide coverage for the Cybertruck because the company considers it as “an armored vehicle.”
Here is what Snow shared about the situation…
“Economical Insurance refused, quoting it as an "armored vehicle"- a direct quote from the company. Belair Insurance outright declined.”
These are the insurance providers that have refused to cover the Cybertruck; however, other insurance providers willing to provide a quote aren’t any better as they are demanding very high prices. In some cases, the Cybertruck insurance policy costs five times more than Snow was paying to insure his fully electric Ford F-150 Lightning.
The Cybertruck owner continues to write…
Aviva Insurance quoted me $8154.00/year but insisted on a $5000 deductible for comp and collision. Intact Insurance quoted me $4871.00/year, and Desjardins/Certs Insurance is asking for $4745.00.
CAA Insurance is possibly quoting, but an underwriter has yet to review my case. I just sold an electric Ford F-150 Lightning, and it was insured for about $1750 a year, which would be in line. The prices I am getting are similar to facility insurance for high-risk drivers with a poor driving record.....any help is appreciated!
As you can see, the Cybertruck owner finishes his post by asking community members to help him find a place where he can get fair insurance coverage for his Cybertruck.
What’s going on with Cybertruck and insurance companies?
A few weeks ago, we broke the news that GEICO was canceling the insurance policy of Tesla Cybertruck owners. In an update we directly received from the company, we learned GEICO was refusing to insure Cybertrucks under the personal vehicle program; however, coverage is still available with the much more expensive commercial vehicle program.
Since then, we’ve also learned that several other auto insurance providers in the US are dropping Cybertruck coverage, citing the high cost of replacing parts.
A few days ago, we also shared how parking garages in New York are refusing to let Cybertrucks park in their facility because the insurance companies that provide liability coverage have asked them not to. But we have an update on that story from Torque News Chief Editor Armen Hareyan discussing the possible real reason why some parking garages in New York are allegedly refusing Tesla Cybertruck.
All in all, what’s clear so far is that insurance companies, whether auto or business insurance providers, do not want the liability associated with the Cybertruck.
In our previous articles, we have highlighted countless reliability and cost-of-repair Cybertruck issues, which are potentially forcing insurance companies to withdraw coverage for the vehicle.
Having said that, this is the first time we have heard of an insurance provider refusing to cover the Cybertruck on the grounds that it is “an armored vehicle.”
Yes, Tesla has shown that the Cybertruck’s body can stop bullets from various small and medium-sized guns; however, that only applies to the stainless steel panels, and even if the Cybertruck was a full-on armored vehicle, it’s not exactly clear why the insurance providers would refuse to cover it.
There may be issues involving harm to other vehicles and vulnerable roadside users, or it may have to do with the possibility of Cybertruck drivers being trapped in the vehicle following an accident.
We’ll contact the insurance companies refusing to cover Cybertruck Canada and update you on their reasoning. Until then, let me know what you think in the comments. Share your ideas by clicking the red “Add new comment” button below. Also, visit our site, torquenews.com/Tesla, regularly for the latest updates.
Image: Courtesy of Tesla, inc.
For more information, check out: A Dentist Tesla Cybertruck Owner Says Loneliness Drove Him to Buy a Truck That Turns Heads: “They Can’t Ignore You Now” — Close to 50 Cybertruck Owners Share Similar Feelings
Tinsae Aregay has been following Tesla and the evolution of the EV space daily for several years. He covers everything about Tesla, from the cars to Elon Musk, the energy business, and autonomy. Follow Tinsae on Twitter at @TinsaeAregay for daily Tesla news.
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