GEICO confirmed Oct. 7 it will continue to provide insurance for the Tesla Cybertruck amid swirling rumors of policy cancellations, after a widely circulated letter suggested an end to the coverage due to underwriting concerns.
The confusion began with a social media post, which included a letter purportedly from GEICO stating the discontinuation of Cybertruck insurance because it "doesn't meet our underwriting guidelines." The letter indicated all policies would non-renew at 12:01 a.m. on an unspecified date. This news prompted immediate concern among Tesla Cybertruck owners and industry observers
However, GEICO reassured customers and the public. "GEICO has coverage available nationwide for the Tesla Cybertruck," a representative told Teslarati. The company emphasized its private passenger automobile insurance (PPA) and commercial insurance divisions both offer policies for the Cybertruck.
The initial alarm was sparked by the Cybertruck's unique design and specifications, including its gross weight and potential challenges with parts availability, which could complicate repairs. These factors led to speculative nonrenewal notices. GEICO addressed these concerns directly, committing to reach out to any customer who might have received such notices erroneously.
GEICO said its policies for the Cybertruck have always been available and remain so.
