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whip bulls reported that on october 7, according to foreign reports, geico, the second largest auto insurance underwriter in the united states, has decided to no longer insure the tesla cybertruck. the company is terminating its current cybertruck policy and said the truck "does not meet our underwriting criteria."

tesla cybertruck owner robert stevenson recently revealed that geico will remove his cybertruck from his multi-car insurance policy.

in a post first shared on x and later retweeted on reddit, robert wrote that @geico said they could no longer insure my cybertruck.

robert added: "it makes no sense because there are other cars that are riskier. if you recommend any truck insurance companies, please let me know. i have eight cars with very good records. i will cancel all my geico insurance! ! goodbye!

the cybertruck owner attached a letter from geico below the post, informing him that the cybertruck insurance policy had been terminated.

the content of the letter is as follows...

2024 tesla cybertruck

vehicle identification number: xxxxxxxxxxxx

policy number: xxxxxxx

dear xxxxx

thank you for choosing geico for your insurance needs. after carefully reviewing your policy record, we have determined that we can no longer provide you with insurance coverage for the 2024 tesla cybertruck.

we are taking this action for the following reasons: we are unable to insure your 2024 tesla cybertruck xxxxxxx because this type of vehicle does not meet our underwriting guidelines.

therefore, we must inform you as follows:

as of 12:01 am on xx/xx/xx, all insurance provided by geico casualty company for the 2024 tesla cybertruck (according to the above policy number) will no longer be renewed.

we can continue to insure the remaining vehicles on your policy.

your updated policy document will be posted shortly. we regret that circumstances require this action and urge you to purchase additional coverage for your 2024 tesla cybertruck by xx, xx, 2024. "

if you have any questions, please feel free to contact us at the number below.

when an insurance company stops covering a person or vehicle, there may be a variety of factors at play.

you might think that the insurance company considers the driver unsafe because he/she has been in so many accidents or for some other reason; however, in anderson's case, he says he has an amazing record.

more importantly, anderson owned eight vehicles, and geico chose to terminate coverage on only the cybertruck and actively sought to renew coverage on the remaining vehicles.

there is no doubt that geico's problems are directly related to the tesla cybertruck and not to anderson or other factors.

so what's going on here?

as we've reported multiple times over the past few months, one possible factor is that the cybertruck is one of the most problematic vehicles on the road right now.

we often see cybertrucks break down in the middle of the street or get wrecked for no apparent reason.

in the past week alone, we've reported three such issues. in one case, a cybertruck owner said he was locked out of his truck for three weeks and the second time the door was bricked shut and he couldn't open it.

in another story, we reported on a man who said he still loves his cybertruck despite tesla failing to fix his cybertruck issues after eight service visits in five months.

we also reported that tesla service technicians are waiting for upper management to issue a cybertruck recall and update order to fix the truck's numerous issues.

a few weeks ago, we reported on a cybertruck owner who got stuck in the middle of the road with his cybertruck four times.

tesla gave the man a brand new cybertruck, but the second one also broke. in the end, elon musk had to personally come forward and instruct tesla engineers to drill open the broken cybertruck to get inside.

many cybertruck failures may be covered by tesla's own warranty program; however, there are other issues with the cybertruck that could disappoint insurance companies.

cybertruck repair costs and times

the biggest of these issues is the cost and wait time to repair the cybertruck after a minor accident. a few months ago, a cybertruck owner said his truck spent $13,404 in repairs after a minor collision.

other reports indicate that the cybertruck cost more than $20,000 to repair after a relatively minor accident.

cybertruck glass

if the above wasn't enough, there's also a problem with the cybertruck glass. as of this writing, several cybertruck owners have reported that their clear metallic glass will shatter on its own after being left in the sun for too long.

other tesla cybertruck owners have also reported that their windshields shattered into pieces after being wiped with a microfiber cloth or lightly hit with a wedding ring.

cybertruck and stainless steel

so far we have discussed the issues faced by cybertruck owners; however, due to the materials in which the cybertruck is constructed, it may also pose a risk to other road users. in this case, we singled out the cybertruck's 30x cold-rolled stainless steel exoskeleton.

over the past few months, we've seen several accidents, including one where a cybertruck collided with other vehicles on the road.

in these cases, the cybertruck sustained few scratches, while the other vehicle was a total loss. we have reported on cybertruck collisions, including a cybertruck collision with a ram pickup truck, a cybertruck collision with a semi-truck, and a cybertruck collision with a red car.

the cybertruck also collided with deer several times on the highway. we have reported three cases so far.

in all of these cases, the cybertruck caused serious injuries to other road users. given the potential for the cybertruck to cause wrongful harm in an accident, geico may believe it does not have liability related to the vehicle.

elon musk vs. warren buffett

finally, there’s the issue of elon musk’s feud with warren buffett. geico is owned by berkshire hathaway, which in turn is run by warren buffett.

the two have crossed paths over the years, particularly in the late 2010s when buffett tried to block tesla from deploying solar power in nevada.

overall, these are all guesses. however, there is no doubt that geico does not want to take over the insurance business of tesla cybertruck. at the moment, we don't have a solid reason.