Insurance Cost / Quotes / Premiums Thread

[kozak79]

Geico in Norther New Jersey:

2022 RIVIAN R1T - $333.90/6 months ($55.65 /mo)

• Bodily Injury Liability - $100,000/$300,000
• Property Damage Liability - $100,000
• Personal Injury Protection/Personal Injury Protection Primary - $250,000/$1,000 Ded.
• Uninsured Motorist & Underinsured Motorist - $100,000/$300,000
• Uninsured Motorist & Underinsured Motorist PD -$100,000/$500 Ded.
• Tort - Limited Tort

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[sevengroove]

Just got my policy renewal from Rivian/Nationwide insurance. My premium went up 21% from the last 6-month period! $884 now.

I guess they are realizing how expensive these are to fix.

Reviving this thread because my policy with Nationwide is renewing at the end of March. It's going up by 15%. Zero claims, under 2k miles driven in 5.5 months. Talked to a Rivian Insurance advisor and he says Nationwide is losing money on single-vehicle policies nationwide (hah) so it's not a Rivian-specific thing. I don't know whether to take that at face value but I am less inclined to switch because of the unique benefits they offer, which were also conveniently reiterated in the policy renewal email:

• Repairs done right: Rivian Insurance uses genuine Rivian parts for your covered repairs. Our Rivian Certified Collision Centers3 repair your R1 with trained technicians.
• Fast-tracked access: Should your vehicle get stolen or damaged beyond repair, our insurance advisors work to help you avoid long lines when purchasing a new Rivian vehicle. Rivian provides this special benefit to Rivian Insurance customers, separate from your policy.
• Designated claim experts: Our partner Nationwide Insurance has dedicated staff to Rivian to provide proper care and attention during insurance claims.
• Adventure-level coverage: Our vehicle policies also cover Rivian accessories as well as off-roading.
• Here to help: Our insurance advisors offer complimentary consultations to help you get the best insurance for your needs. We’re here to help.

 

[COdogman]

I was considering switching to the Nationwide/ Rivian insurance when my truck is ready, but I was already suspect of doing it as a single vehicle plan. Then I was also thinking about the fact that if my R1T is totaled, a replacement would not come at the pre 3/1/22 pricing, it would be the updated pricing. Did anyone happen to ask Nationwide about this when getting a quote?

 

[CheezyNachos]

I just realized I should probably increase my uninsured/underinsured coverage...

State Farm
2022 Rivian R1T - $471.56/6 months

Bodily Injury Coverage
Limit Per Person $250,000
Limit Per Accident $500,000

Property Damage Coverage
Limit Per Accident $100,000

Comprehensive Coverage
Deductible $0

Collision Coverage
Deductible $500

Uninsured Motor Vehicle Coverage
Limit Per Person $50,000
Limit Per Accident $100,000

Underinsured Motor Vehicle Coverage
Limit Per Person $50,000
Limit Per Accident $100,000

 

[freshpow]

I was considering switching to the Nationwide/ Rivian insurance when my truck is ready, but I was already suspect of doing it as a single vehicle plan. Then I was also thinking about the fact that if my R1T is totaled, a replacement would not come at the pre 3/1/22 pricing, it would be the updated pricing. Did anyone happen to ask Nationwide about this when getting a quote?

I'm on the phone with them right now and they said the replacement value is the price you paid +10%.

 

[COdogman]

I'm on the phone with them right now and they said the replacement value is the price you paid +10%.

Thank you!

 

[Dark-Fx]

I was considering switching to the Nationwide/ Rivian insurance when my truck is ready, but I was already suspect of doing it as a single vehicle plan. Then I was also thinking about the fact that if my R1T is totaled, a replacement would not come at the pre 3/1/22 pricing, it would be the updated pricing. Did anyone happen to ask Nationwide about this when getting a quote?

There's a couple of line items on my quote that are unfamiliar, one is "New Car Replacement Plus" that's $102.53/6mo. I'm asking what this and another item covers but that line item feels like the extra "Rivian" coverage. This quote overall is close to twice what I'm paying on my R1T but it also doesn't have any of the multiple-auto/line discounts on it.

 

[COdogman]

There's a couple of line items on my quote that are unfamiliar, one is "New Car Replacement Plus" that's $102.53/6mo. I'm asking what this and another item covers but that line item feels like the extra "Rivian" coverage. This quote overall is close to twice what I'm paying on my R1T but it also doesn't have any of the multiple-auto/line discounts on it.

Thanks.

I still plan on asking about this when I get a quote - I was just curious what Nationwide's answer was. Obviously every vehicle is worth less than "new" a few days after you buy it, but anyone with early pricing is instantly under-insured by at least $20k unless the high quotes are based on actual replacement cost.

 

[Dark-Fx]

Thanks.

I still plan on asking about this when I get a quote - I was just curious what Nationwide's answer was. Obviously every vehicle is worth less than "new" a few days after you buy it, but anyone with early pricing is instantly under-insured by at least $20k unless the high quotes are based on actual replacement cost.

Here's what the "New Car Replacement Plus" policy is. Limited to 110% of original MSRP

 

[COdogman]

Here's what the "New Car Replacement Plus" policy is. Limited to 110% of original MSRP

That's very helpful. I'm starting to lean more towards sticking with my current insurance (USAA) since I probably can't afford to get a brand new Rivian if mine is totaled anyway. I hate that I even need to consider that, but it's reality.

 

[Prime]

That's very helpful. I'm starting to lean more towards sticking with my current insurance (USAA) since I probably can't afford to get a brand new Rivian if mine is totaled anyway. I hate that I even need to consider that, but it's reality.

Seems like after a total and the way used prices are looking it would make more sense to get the $ and buy used if a Rivian was still desired at that point. That’s why I had that provision removed from my policy to save a couple hundred a year.. even at 110% that’s not going to cover the cost of a new Rivian.

*though.. not sure if they’d allow going for a dual motor variant and get into the shop instead, which would maybe hit a break even.

 

[COdogman]

Seems like after a total and the way used prices are looking it would make more sense to get the $ and buy used if a Rivian was still desired at that point. That’s why I had that provision removed from my policy to save a couple hundred a year.. even at 110% that’s not going to cover the cost of a new Rivian.

That's good plan. Much more likely than buying a new one!

Also renders the other stated benefits of not waiting in line and parts origin pretty useless.

 

[Dark-Fx]

Seems like after a total and the way used prices are looking it would make more sense to get the $ and buy used if a Rivian was still desired at that point. That’s why I had that provision removed from my policy to save a couple hundred a year.. even at 110% that’s not going to cover the cost of a new Rivian.

*though.. not sure if they’d allow going for a dual motor variant and get into the shop instead, which would maybe hit a break even.

Only thing that might make it worth it is if Rivian is shipping new tech in a replacement model. 800V charging, higher horsepower quad motor option, etc. Otherwise I totally agree with you on it.

 

[zefram47]

That's very helpful. I'm starting to lean more towards sticking with my current insurance (USAA) since I probably can't afford to get a brand new Rivian if mine is totaled anyway. I hate that I even need to consider that, but it's reality.

Have you gotten a quote yet? I kind of expected the Rivian to be about what my 4Runner + MINI were, but still seems high for what many are quoting. The quote I got the other day was a tick over $200/mo. That said, we've been with USAA forever and the rates just keep going up and up. I need to get some quotes with some other companies for the fleet and see where they wind up at this point.

 

[COdogman]

Have you gotten a quote yet? I kind of expected the Rivian to be about what my 4Runner + MINI were, but still seems high for what many are quoting. The quote I got the other day was a tick over $200/mo. That said, we've been with USAA forever and the rates just keep going up and up. I need to get some quotes with some other companies for the fleet and see where they wind up at this point.

No, I haven't gotten any quotes yet. I was waiting until I had a VIN to give when calling around. I feel like they all have pros and cons and even though they are a little more expensive, USAA has always done a good job for us. Not that others aren't good also, but the grass isn't always greener!

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