Official Rivian Insurance Info Announced!

[cwoodcox]

Same Metromile...Surprised the fob can drain a battery, even in two weeks of no driving with a healthy battery.

It’s not just the fob. Modern cars are designed with some parasitic battery draw. They’re usually designed with a battery to match, but I‘m sure if you dig into your owners manual it says you should disconnect the battery if you don’t intend on driving it for more than a few weeks.

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[cwoodcox]

But I may go over the speed limit, at times. An insurance company would use that to justify a higher rate for me, despite being a proven safe driver.

A proven safe driver by your own experience. Perhaps the data proves out that yes, going 5-10 mph over the speed limit is not a likely causation to higher accident payouts or more frequent claims. Simple linear regression can show exactly this, and is extremely accurate with lots of data available.

Maybe drivers that drive under the speed limit on the interstate have more frequent accident claims, and not the chronic speeders.

And that’s precisely my point. The more data that is available, the more likely it is they can find predictors (even counter-intuitive ones) of unsafe behavior, and charge accordingly. I would imagine driving 10% over the speed limit would prove to be a pretty unreliable indicator of overall risk, but that’s exactly why gathering this kind of data is interesting.

 

[CommodoreAmiga]

Same Metromile...Surprised the fob can drain a battery, even in two weeks of no driving with a healthy battery. I had similar issues when my battery was on death's doorstep, but never really thought to blame the fob, new battery zero issues to date. The Rivian would absolutely not have that issue unless you parked it for weeks with a low charge to begin with. 135kw is a huge battery...

EVs typically still have a 12V battery... So that can still die (Tesla has had lots of problems with their 12V batteries, over the years).

And those insurance dongles plug into the OBD2 port, which Rivian probably won’t have... So won’t be able to use those programs in their current form. I assume insurance companies will start signing data interchange agreements with manufacturers to access their cloud data.

 

[CommodoreAmiga]

A proven safe driver by your own experience.

Um, Duh? Not sure what point you’re trying to make, here?

Perhaps the data proves out that yes, going 5-10 mph over the speed limit is not a likely causation to higher accident payouts or more frequent claims. Simple linear regression can show exactly this, and is extremely accurate with lots of data available.

Maybe drivers that drive under the speed limit on the interstate have more frequent accident claims, and not the chronic speeders.

Except insurance companies charge more for people who drive faster.

And that’s precisely my point. The more data that is available, the more likely it is they can find predictors (even counter-intuitive ones) of unsafe behavior, and charge accordingly. I would imagine driving 10% over the speed limit would prove to be a pretty unreliable indicator of overall risk, but that’s exactly why gathering this kind of data is interesting.

CAN and WILL are not the same. Insurance companies are looking for data to make them more money. Period.

 

[txtravwill]

EVs typically still have a 12V battery... So that can still die (Tesla has had lots of problems with their 12V batteries, over the years).

And those insurance dongles plug into the OBD2 port, which Rivian probably won’t have... So won’t be able to use those programs in their current form. I assume insurance companies will start signing data interchange agreements with manufacturers to access their cloud data.

Yeah, it's a pain. Tesla is moving to a lithium 12v also which is great now. I'd love if Rivian had already done the same or figured out that issue

 

[hola29]

yeah curious if ODB2 is gone in the Rivian. I have zero idea.

I also did not know about a separate 12v battery in EVs - this will be my first. Is that a wear part like in ICE vehicles?

EVs typically still have a 12V battery... So that can still die (Tesla has had lots of problems with their 12V batteries, over the years).

And those insurance dongles plug into the OBD2 port, which Rivian probably won’t have... So won’t be able to use those programs in their current form. I assume insurance companies will start signing data interchange agreements with manufacturers to access their cloud data.

 

[CommodoreAmiga]

I also did not know about a separate 12v battery in EVs - this will be my first. Is that a wear part like in ICE vehicles?

Definitely.

 

[ATL_Canes]

I asked the makeup of the 40 states via email, and specifically if Georgia was one of the 40. Here's what I received back. Wasn't all that helpful.

 

[Gshenderson]

A proven safe driver by your own experience. Perhaps the data proves out that yes, going 5-10 mph over the speed limit is not a likely causation to higher accident payouts or more frequent claims. Simple linear regression can show exactly this, and is extremely accurate with lots of data available.

Maybe drivers that drive under the speed limit on the interstate have more frequent accident claims, and not the chronic speeders.

And that’s precisely my point. The more data that is available, the more likely it is they can find predictors (even counter-intuitive ones) of unsafe behavior, and charge accordingly. I would imagine driving 10% over the speed limit would prove to be a pretty unreliable indicator of overall risk, but that’s exactly why gathering this kind of data is interesting.

I’ve always speculated that I drive safer when speeding because I’m paying more attention and less prone to distraction. You know, scanning for cops... ?‍??‍?

 

[SeaGeo]

I asked the makeup of the 40 states via email, and specifically if Georgia was one of the 40. Here's what I received back. Wasn't all that helpful.

Lol, I did the same with Washington and got stonewalled as well. They did say they would offer umbrella insurance though.

 

[DuckTruck]

Me too, I currently have Metromile and it's great especially during the pandemic when there is very little daily driving. However my Lexus battery has drained completely a handful of times because of the stupid fob, and I've been told by both Lexus and Metromile to drive more frequently to charge up the battery every now and then. How ironic for a "drive less" insurance solution. Hopefully our Rivians will not have this issue.

Easy enough to leave a trickle charger in place and plug it in. After I had two cars lose their batteries that way, I hit up Harbor Freight for cheap chargers and plug them in when not in use. Annoying, but it works.

 

[DuckTruck]

Lol, I did the same with Washington and got stonewalled as well. They did say they would offer umbrella insurance though.

Interesting. I'd be surprised if they'd write an umbrella and not auto. I've found that companies that write umbrellas usually want all autos in the household to be covered under that same carrier's auto policy. It also may be that Rivian's still in the process of jumping through the hoops with the 10 remaining Departments of Insurance.

Some require pre-approval of their rates while others allow them to file and use their rates, and substantiate them later. Although most states follow a national model (the NAIC) for approving companies and/or partnerships into their domestic market, it can be political, and each state has some unique steps.

My guess is that Rivian will get the green light from all fifty, in short order. I'm looking forward to seeing how the rates vary between the carrier(s) Rivian partners with and all of the others out there. For a car and insurance geek, this is getting really fun!

 

[SeaGeo]

Interesting. I'd be surprised if they'd write an umbrella and not auto. I've found that companies that write umbrellas usually want all autos in the household to be covered under that same carrier's auto policy. It also may be that Rivian's still in the process of jumping through the hoops with the 10 remaining Departments of Insurance.

Some require pre-approval of their rates while others allow them to file and use their rates, and substantiate them later. Although most states follow a national model (the NAIC) for approving companies and/or partnerships into their domestic market, it can be political, and each state has some unique steps.

My guess is that Rivian will get the green light from all fifty, in short order. I'm looking forward to seeing how the rates vary between the carrier(s) Rivian partners with and all of the others out there. For a car and insurance geek, this is getting really fun!

Yeah, sorry, I accidentally mislead you. They just confirmed that they will offer homeowners and umbrella coverage in addition to auto coverage. Not standalone.

 

[DuckTruck]

I’ve always speculated that I drive safer when speeding because I’m paying more attention and less prone to distraction. You know, scanning for cops... ?‍??‍?

This is a complete rationalization, and one that I've been using for years! ?

I don't know why, but this reminds me of a funny story from years ago, near the advent of the photo red light and radar cameras. A guy received a ticket in the mail with a picture of him at the wheel as he was going through a red light at speed. As a joke, he sent the court a picture of the cash representing his fine. The traffic court sent him a picture of a pair of handcuffs. He sent in the check the next day.

 

[DuckTruck]

Yeah, sorry, I accidentally mislead you. They just confirmed that they will offer homeowners and umbrella coverage in addition to auto coverage. Not standalone.

SeaGeo,

Thank you for that. Again, I can't see Rivian or any of their partners not getting approved for this. It will be a nice option to have.

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