Challenges and trade reactions
Tesla’s transfer to self-underwriting comes amid broader turbulence within the auto insurance coverage marketplace for some EVs. Tesla Cybertruck proprietor, Robert Stevenson, lately revealed that his insurer, GEICO, had refused to resume protection for his automobile, citing that it didn’t meet underwriting pointers. “After a cautious evaluate of your coverage information, we have now decided that we’re unable to proceed your insurance coverage protection for the 2024 TESLA CYBERTRUCK,” GEICO acknowledged in a letter shared by Stevenson.