Insurance Cost / Quotes / Premiums Thread

[cohall]

@DuckTruck,

Given your background and profession, at what point do you think we'll be able to learn how the insurance rates through Rivian will compare to rates available on the "free market"? Will we have to wait until trucks hit the road and we can access some VINs? Or will we be able to get quotes at some point before the trucks are on the road?

Appreciate any insight you can provide.

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[DuckTruck]

@DuckTruck,

Given your background and profession, at what point do you think we'll be able to learn how the insurance rates through Rivian will compare to rates available on the "free market"? Will we have to wait until trucks hit the road and we can access some VINs? Or will we be able to get quotes at some point before the trucks are on the road?

Appreciate any insight you can provide.

I'd be surprised to see any insurer allow the rate to be locked in before the VIN is known and entered. Because of the the arrangement between Rivian and Nationwide, I'd guess Nationwide might be the first to be able to provide a hard quote. I assume everyone will get a quote from their current carrier in addition to one through Nationwide. I'm very interested in finding out how Nationwide's coverage may include things above and beyond what other companies offer. Didn't we see "winch-out" as something they'll offer? I'm not sure others are favorable about out-of-the-ordinary types of services.

I'd encourage everyone here to compare Nationwide's offerings with their current policy bundle, and to do so with their current agent. That's a great way to find a true comparison of their total package rates for both bundles of policies. If Nationwide truly offers important, unique coverages and features for Rivian, and their bundled rate for Home, Auto, and Umbrella is competitive, I'll make the jump, even it means I lose the commission on my own policy. The important thing is to compare the entire package offered by both (and other) carriers, and look at the big picture to find what's best.

I guess we'll find out if "Nationwide is on your side" very, very soon!
to quote a familiar refrain.

 

[BigE]

I figured it was way too early, but had a free minute and called my insurance company to check on R1T cost to insure. They said, they have heard of Rivian but have nothing in their system. Once I have a VIN, they would then need to send it to the home office for them to review & quote since this is such a new/different product.

 

[svet-am]

I figured it was way too early, but had a free minute and called my insurance company to check on R1T cost to insure. They said, they have heard of Rivian but have nothing in their system. Once I have a VIN, they would then need to send it to the home office for them to review & quote since this is such a new/different product.

this is good and I think a much more reasonable response than what I heard from my agent (which after what I have read in this thread might not be my agent for much longer)

 

[Swilly]

this is good and I think a much more reasonable response than what I heard from my agent (which after what I have read in this thread might not be my agent for much longer)

I am in insurance and actually work for the company that is “on your side”. You should strongly consider a new and independent agent. If they work with Nationwide, you will be able to quote the Rivian specific Nationwide policy against other options and have your agent weigh in on which is best price/coverage/combo. I have a great company I work with in Colorado (works with Nationwide and many others). Happy to share it if you like. They too are saying they are unable to quote accurately at this point, for the reasons discussed above.

 

[SteveInBend]

A couple of weeks ago I went to the USAA (I'm a member) to try and get a ballpark estimate for a Rivian R1S. USAA allows you to get an estimate without a VIN. At the time, Rivian was not listed as amanufacturer on the their list for either 2021 or 2022. Today, I went back to try again and Rivian is now a listed manufacturer with the R1T LE/Adventure/Explore models selectable from a drop-down list. Unfortunately, when I clicked on the "Next" button, it gave me an error asking me to pick a manufacturer from the list. Obviously, there's still a problem with their website configuration. I called in to report the issue and spoke to one of their representatives. The representative asked if I still wanted a quote, so I said yes.

Bottom line: I WAS able to get a ballpark quote from USAA for the R1T LE but will have to wait for the R1S.

 

[svet-am]

A couple of weeks ago I went to the USAA (I'm a member) to try and get a ballpark estimate for a Rivian R1S. USAA allows you to get an estimate without a VIN. At the time, Rivian was not listed as amanufacturer on the their list for either 2021 or 2022. Today, I went back to try again and Rivian is now a listed manufacturer with the R1T LE/Adventure/Explore models selectable from a drop-down list. Unfortunately, when I clicked on the "Next" button, it gave me an error asking me to pick a manufacturer from the list. Obviously, there's still a problem with their website configuration. I called in to report the issue and spoke to one of their representatives. The representative asked if I still wanted a quote, so I said yes.

Bottom line: I WAS able to get a ballpark quote from USAA for the R1T LE but will have to wait for the R1S.

Awesome news. Maybe I should try again now.

 

[skyote]

Due to the VIN filing, someone might just try this fictional/test VIN:

VIN 7FCTGAAL4NN123456

It will properly pull up parameters here, https://vpic.nhtsa.dot.gov/decoder

 

[nfrank]

I was poking around on my USAA insurance page and it looks like Rivian is up and running on there. Got an instant quote. For reference my payment nearly doubles compared to my 2011 F-150 FX4. They want about $600 extra every six months for just the "R1T ADVENTURE". I'm also wanting to get the Max Pack, but that wasn't an option on the quote builder.

Either way it seems high to me. I wonder if Rivian's own insurance will beat that.

For reference quoting a hybrid Super Crew F-150 is an extra $360/six months. A few bucks more for a Raptor.

 

[Mjhirsch78]

Did early Tesla owners experience this as well? With no information, insurance started considerably higher before slowly dropping down?

 

[flabyboy]

I was poking around on my USAA insurance page and it looks like Rivian is up and running on there. Got an instant quote. For reference my payment nearly doubles compared to my 2011 F-150 FX4. They want about $600 extra every six months for just the "R1T ADVENTURE". I'm also wanting to get the Max Pack, but that wasn't an option on the quote builder.

Either way it seems high to me. I wonder if Rivian's own insurance will beat that.

For reference quoting a hybrid Super Crew F-150 is an extra $360/six months. A few bucks more for a Raptor.

2011? Or did you mean 2021?

 

[svet-am]

Recall from my original post that State Farm did not care _at all_ about any of the features or specifics of the vehicle. They considered an EV "worse" than an ICE and the rate was significantly higher than what I am paying now on my Subaru. I think I may _have_ to use the Rivian insurance just to save money.

 

[DucRider]

I was poking around on my USAA insurance page and it looks like Rivian is up and running on there. Got an instant quote. For reference my payment nearly doubles compared to my 2011 F-150 FX4. They want about $600 extra every six months for just the "R1T ADVENTURE". I'm also wanting to get the Max Pack, but that wasn't an option on the quote builder.

Either way it seems high to me. I wonder if Rivian's own insurance will beat that.

For reference quoting a hybrid Super Crew F-150 is an extra $360/six months. A few bucks more for a Raptor.

An apples to apples would mean comparing to another 800+HP truck with 3 second 0-60 times.

The performance aspect of the Rivan will almost certainly be a factor.

Did early Tesla owners experience this as well? With no information, insurance started considerably higher before slowly dropping down?

Some did, some didn't. It can pay to shop around.
And I'm not sure the Rivian rates will drop significantly over time given the performance aspect and likely repair costs.

It can pay to shop around with any new vehicle as how different insurance companies rate them in combination with where you live, your driving record, how you report using it, your credit score, etc. are all factored differently by different companies. Found this to be true on my Ducati - more so when it was newer.

 

[CommodoreAmiga]

Did early Tesla owners experience this as well? With no information, insurance started considerably higher before slowly dropping down?

Yes. In some ways the rates didn't drop quickly or as much as people thought they should. That's why Tesla started getting into the insurance game.

I found it promising when Rivian announced they would be in the insurance game, from day one.

Still curious to see what rates people see through Rivian, compared to the traditional options.

 

[SANZC02]

Did early Tesla owners experience this as well? With no information, insurance started considerably higher before slowly dropping down?

For me it was the opposite. Rates originally were lower, then the data started coming in about repair costs and parts availability and it sky rocketed, then it started coming back down.

Right now a 2016 Tesla Model S is about $240 a year more for me than a 2014 Jeep Grand Cherokee Overland. Three years ago, that number was closer to 600 a year more so it has gotten better over time.

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