Lower insurance for Tesla > Rivian

[gd_r1t]

Just got my quote from Geico. The 6-month premium for the R1T is $478, which seems low generally, but especially in relation to my Model 3's current 6-month premium of $868. Identical coverage, and this is to replace the Tesla, not adding a 2nd vehicle on the policy.

The Rivian quote is lower across most of the categories, but the collision is the most contributing, which is really odd since the R1T is higher-value than the model 3.

Maybe Geico doesn't have enough data yet on Rivian's so they have no idea how to price it?

I'm not complaining and certainly not going to question Geico on it.

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[jjswan33]

The R1T insurance was lower than my EV6 compared to the R1T as well (With Statefarm)

Don't recall the details exactly but the difference was over 25%. I assumed because the the EV6 was classified as a sport hatch vs a truck.

 

[Mike TDM]

Just got my quote from Geico. The 6-month premium for the R1T is $478, which seems low generally, but especially in relation to my Model 3's current 6-month premium of $868. Identical coverage, and this is to replace the Tesla, not adding a 2nd vehicle on the policy.

The Rivian quote is lower across most of the categories, but the collision is the most contributing, which is really odd since the R1T is higher-value than the model 3.

Maybe Geico doesn't have enough data yet on Rivian's so they have no idea how to price it?

I'm not complaining and certainly not going to question Geico on it.

Just called State Farm yesterday about my future R1T. $648 for six months, which actually is less than I thought it would be. (was hoping it would be cheaper but was being realistic!)

 

[CommodoreAmiga]

I just got my renewal policy and it's going up. I was worried this was going to be the case. I think insurance companies didn't know how to rate the R1T and we saw some artificially low rates (not sure why -- maybe Rivian did some lobbying?)

I fully expect rates to jump up, over time, as insurance companies are able to mine more data and repairing these vehicles is not going to be cheap.

 

[JGard18]

Huh, I just switched my insurance this morning. I'm going from $700/yr for my Model 3 to $1,000/yr with the R1T through USAA

 

[moosehead]

Seems dubious that the R1 would see lower relative premiums. Anyone who has piloted one from 0-60 juice pedal to the floor gets their eyes peeled back and cheeks a flapping with some noticable G's.

 

[Teddy184]

Just got my quote from Geico. The 6-month premium for the R1T is $478, which seems low generally, but especially in relation to my Model 3's current 6-month premium of $868. Identical coverage, and this is to replace the Tesla, not adding a 2nd vehicle on the policy.

The Rivian quote is lower across most of the categories, but the collision is the most contributing, which is really odd since the R1T is higher-value than the model 3.

Maybe Geico doesn't have enough data yet on Rivian's so they have no idea how to price it?

I'm not complaining and certainly not going to question Geico on it.

I'm paying $845 for an R1T and a 2021 Mazda CX5 through Geico.

 

[Atlrivian]

I switched from state farm to rivian's nationwide insurance. Was $3000 a year cheaper for R1T, 2021 XC90 and homeowners.

 

[AsianPersuasian]

What is your coverage and do u have UM and replacement coverage?

 

[dduffey]

I am paying about $900/yr for each 2022 R1T, 2021 Model Y and 2018 Model 3.

Recently moved to Costco (Ameriprise?) because Travelers had the Model Y at $3k year (3 times the other two). They kept saying it was classified as a "performance car" (it was not). After two years I finally said "look have been a happy customer for over a decade but your system is clearly broken if a LR MY is 3x the cost to insure of an 800+hp quad motor beast or it's M3 equivalent"

 

[zipzag]

Be cautious with Geico. I had a similar experience of those in the article below in Illinois when a Geico policy owner hit my Tesla. I would not hold a Geico policy on an expensive to repair car. Rivian is looking more expensive to repair than Tesla.

https://cleantechnica.com/2022/09/30/arizona-tesla-owners-say-geico-refuses-to-fix-their-cars/

 

[Rousie13]

We’ve had no issues with Geico. My wife got rear ended when we had her Audi and with some pushing, they put brand new OEM parts back on the car. The other person that hit her had Geico as well, so it was still paid by Geico.

 

[cjones1130]

The R1T insurance was lower than my EV6 compared to the R1T as well (With Statefarm)

Don't recall the details exactly but the difference was over 25%. I assumed because the the EV6 was classified as a sport hatch vs a truck.

This is good news, I currently drive an EV6 awaiting the R1T. The only thing that concerns me is that from reading reviews the R1T's driver assist seems terrible when compared to the EV6; I drive A LOT, back roads and highways...

Side question, did you trade your EV6 into Rivian?

 

[rhumbliner]

When I traded my 2019 MS-75 in for my R1T I was surprised by how much my premiums dropped — almost 25%. Registered in Oregon and covered by State Farm.

 

[jjswan33]

This is good news, I currently drive an EV6 awaiting the R1T. The only thing that concerns me is that from reading reviews the R1T's driver assist seems terrible when compared to the EV6; I drive A LOT, back roads and highways...

Side question, did you trade your EV6 into Rivian?

Yeah that is right, I preferred the ADAS on the EV6 because it was available anywhere it could see the lines and then the lane changes, interface and reliability.

I did not trade the EV6 in, I didn’t even have the title yet. I tried selling it myself between forum posts and autotrader and didn’t have a lot of luck but then I called around to the local Kia dealerships and one was willing to meet my price which was nice because they took care of the lien and other things which made it easy. Carvana gave a decent offer as well.

With the low inventory for EV6 models out there you shouldn’t have any trouble finding a buyer (assuming you can swing both at the same time). I in some ways regret selling it.

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