Tesla Cybertrucks are still being insured by Geico — despite claims otherwise
Geico (BRK.A) on Monday denied that it has stopped underwriting Tesla’s (TSLA) Cybertruck electric pickups after claims circulated on social media and enthusiast forums.
It all began on Friday, when apparent Cybertruck owner Robert Stevenson posted on X — the social media website owned by Tesla CEO Elon Musk — that Geico said they “can no longer insure my Cybertruck.” The X user also included a letter stating that the vehicle “doesn’t meet our underwriting guidelines,” according to Torque News.
But, according to the company, which is the third-largest provider of car insurance by market share, that’s not true.
“GEICO has coverage available nationwide for the Tesla Cybertruck,” the Chevy Chase, Maryland-based company told Quartz in a statement.
The initial claim came a day after Tesla issued its latest recall of the electric pickup due to an issue with the vehicle’s rearview camera, which was fixed through an over-the-air software update, according to the National Highway Transportation Safety Administration. That notice also revealed that 27,185 Cybertrucks are on the road, a sizable jump from the almost 11,700 units known to be sold as of June.
According to S&P Global Mobility (SPGI), 5,175 Cybertrucks were sold in July alone. That was almost enough to outsell Rivian’s (RIVN) R1T, Ford Motor’s (F) F-150 Lightning, and General Motors (GM)’ Chevy Silverado EV, GMC Sierra EV, and GMC Hummer EV pickup combined for that month, Jalopnik reported.
The pickup has also been at the center of a large amount of controversy, mostly stemming from dislike of its unique design — which has carried with it no shortage of flaws, from owners getting wounded to trashed deliveries — and Tesla’s issues actually getting it to market. Tesla first began delivering the Cybertruck last November, some four years after Musk introduced the pickup and two years after the company’s initial delivery target.