> I’m surprised that the article doesn’t mention the complete lack of pedestrian safety, which is so bad the truck can’t be sold in Europe

I mean that's not a Cybertruck-exclusive problem

I’m not sure that is the case, but if it is, it’s interesting to me as a fairly extreme example of the free market self regulating.

> McLarens, Lamborghinis, Jaguars, Bugattis

So they don't insure[1] high end exotics and supercars[2]. I wasn't aware the Cyber Truck was a supercar.

[1] There's also a difference between not offering coverage and actively terminating coverage that was previously offered.

[2] They actually insure basically all Jaguars. There are a couple of people complaining that their rates for a high performance Jaguar model, as a young male, are steep, but that's not exactly the same.

> A quick search reveals there have also been certain Kia and Huyandai models that they don’t insure.

Which I'm fairly certain made the news, too.

Your comment just seems like "Why is this news?"

Even with the Kia and Hyundai theft issues, they didn't terminate coverage, they just issued notices of non-renewal.

They're actively terminating current and open policies for the CyberTruck as quickly as they are legally allowed to. That's why.

Nobody will pay for it and they get hit with headlines that say “Geico raises rates on some customers by x,000%!”

My understanding is that any damage to the cybertruck unibody frame, no matter how minor, becomes a catastrophicly expensive repair. There are many laws surrounding fair pricing of insurance rates, and Geico might not want to go through the legal work of justifying massive rate hikes specific to the Cybertruck over just dropping such a tiny volume of vehicles, especially if their "profitable" pricing just drives all their customers away anyways. Also keep in mind that in the meantime they're locked into their current rates until each state approves a higher rate.

Insurers work with data/metrics and generally make decisions based on that alone[1]. I often feel that it's unfair that I pay more as a male, because I am an extremely responsible and defensive driver - fact is, men cause more expensive accidents more often. That's the data, that's what insurers care about.

At some point Geico likely did insure super cars, up until they started becoming highly anomalous in the data. The same has happened to cybertrucks, whether your highly restricted sample demonstrates it or not.

Insurance companies don't turn away profitable customers. Cybertrucks became a problem for Geico, but they are being tight lipped as to why; it might not be a reliability issue.

[1]: https://en.wikipedia.org/wiki/Quantitative_analysis_(finance...

> they could just raise rates

Well, they (insurance companies in general ) also dropped a lot of homeowners in certain states, rather than simply raising the rates.

Perhaps they have done some market research and determined that there is an inflection point beyond which raising rates would actually reduce profits due to reduced competitiveness

> Can someone find more about why GEICO did this? It makes no sense. Furthermore, they could just increase rates if they found accidents too common.

Very few insurers will insure literally anything (back in the day, Lloyds of London were notably unusual in that they would write a policy on basically anything, though you mightn't like the cost). Most conventional insurers will have a line after which they say "this is too risky, we'll leave it to specialist insurers". Ask anyone who's ever tried to get insurance on a non-conventional-construction house.

And it's a pretty niche vehicle; if they do find it unacceptably risky, then dropping it is presumably a fairly easy decision.

The reasons listed in the article are spot on. Ridiculously high repair costs is enough. With ridiculously high repair costs come extended repair times (rental car and claims management). There comes a point where just increasing the premium price can't offset risk.

There is nothing practical about Cybertruck ("Cybertruck," really?). It's a collector's vehicle.

Good point I had not thought about the remaining parts of the economics if they did go though with something like a rate hike.

I’m imagining quite the redneck-y front yard.

What's the difference if someone has 8 cars or one car? He can only drive one at a time. And at least one is electric.

As folks get older, they usually become responsible for other people.

Personal vehicles? Commercial vehicles? Small business?

Telsa insurance snoops on your driving and behavior.

Tesla Insurance is only available in 12 states.