Insurance Call Questions?

[SeaGeo]

Thanks, I hope it's the latter - that seems fair to me.

I'll be curious to see how their packages compare to the per-mile options. My current auto insurance with Metromile is anywhere from 35 - 60% cheaper than the cheapest traditional policy depending on how much I drive in any given month (which is not a lot, especially since the pandemic).

I have my yearly mileage as the minimum that allstate allows. It's still not quite on part with Metromile when I was driving one of our cars very rarely, but it makes it less than Metromile for commuting two days a week. So it might be worth playing around with that if you don't drive much.

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[DuckTruck]

Agree. Pay by mile makes way more sense to me. Playing the actuarial game seems a little more cut and dry. I also pay way less as I don’t have a 9 to 5 commute.

Hopefully I can still with Metromile if it still proves to be a value add.


Yeah, I really like it and it really, at least for me,

As an Agent, I don't write Metromile (online or phone/online only?) but have referred people who drive a very limited number of miles. I got feedback that they saved a good chunk with them. One client lost their package discount, but was content with the net savings.

Those considering Metromile should inquire about the extent of their Roadside Assistance. How wilI MM view off-road disablements? How about gravelled roads/logging roads vs. true trail or over-landing issues? Ask the same of their Claims Department as well. If you're "13 miles up the Yankee Fork in Idaho" (as the song goes) and float downstream because the water was over 40 inches deep, will they say you're technically up a creek without a paddle, or simply down the river without a pal.

If you're not planning on ever leaving the roads found on conventional maps, it should never be an issue. You just don't want to find out at the worst possible time. ? ?

 

[DuckTruck]

I just had another conversation with Shylo with Rivian Insurance Services. She is one of four experienced insurance professionals on the team. Each of them has a very solid background in the insurance industry predating their move to Rivian. For an insurance geek like myself, Shylo and I are able to converse in the Three-and-Four-Letter-Acronym-Rich language our world forces us to learn. BEAT.....Oh, I'm sorry.....But Enough About That...

Regarding the question of which deductible comes into play when a covered loss damages your home and one or more autos, Shylo confirmed that the larger of the two deductibles is the only one you will pay. If you're running with a high Comprehensive deductible for your autos (like $500 or more), that could result in saving that amount (which is likely lower than your Homeowner deductible - typically $1,000). That feature declines in value if you purchase a lower Comprehensive Auto deductible (say $100).

I got quotes from Nationwide based on my configuration, which includes pretty much every option and accessory (needed to prevent my FOMO). I got three different quotes, all with the exact same coverages for my Rivian. One policy covering four of my vehicles (including the R1T), one for the same four vehicles bundled with Home, Earthquake, and Umbrella, and a standalone policy for the R1T.

The bundled price was the lowest. The price for the R1T within the four vehicles under one auto-only policy was 12.1% higher than the one bundled with everything, and the stand-alone R1T policy was 25.1% more than the full enchilada. All were quoted with the same coverages and features. High Liability limits with lower deductibles.

Because I know someone will want to know the exact premium (these are 6-month policies) specific to the R1T only, here you go:

Full bundle: $588.55
Autos only: $659.94 (incr. of 12.1% over full bundle)
Standalone: $736.30 (incr. of 25.1% over full bundle)

I know you all know this, but these are numbers derived for my demographics, and based on my credit score, driving record, and claims history, to mention just a few factors. Every State and Zip Code can cause differences, as will a myriad of other factors, some obvious (age, living situation, others under the same roof, favorite College Football team) and others not so obvious (I'm sworn to secrecy. Don't ask, or....you know....?).

Keep in mind, if you're thinking about doing a stand-alone policy for the R1T and retaining your current insurer for the rest of your autos and an Umbrella policy, your insurance company may not allow the R1T to be covered under the Umbrella. This is one of the many questions to ask of your insurance carrier before making a decision. Furthermore, they may have heartburn over multiple insurance companies providing coverage. Always best to ask.

Also make certain to find their stance on OEM (read Rivian) replacement parts and safety glass for the lifetime of your vehicle. Don't forget to ask where coverage ends when you leave the pavement, and then the gravel, when off-roading or overlanding, or fording streams, etc. As I've mentioned previously, AAA is solid for Roadside Assistance, but, as with any insurance company you might have or be looking at, bounce all of these details and questions off of them before making any decisions, so as to a problem down the road, or off the road....

Everyone should know that Rivian's Insurance Services Team is taking calls from everyone, not just reservation holders. Once you're in contact, they'll likely reach out for some quick details before setting up an appointment. I don't have experience with the rest of the team, but Shylo's been great to work with as I move through this process. I'm guessing the whole team is also great.

 

[Canthoney]

I just had another conversation with Shylo with Rivian Insurance Services. She is one of four experienced insurance professionals on the team. Each of them has a very solid background in the insurance industry predating their move to Rivian. For an insurance geek like myself, Shylo and I are able to converse in the Three-and-Four-Letter-Acronym-Rich language our world forces us to learn. BEAT.....Oh, I'm sorry.....But Enough About That...

Regarding the question of which deductible comes into play when a covered loss damages your home and one or more autos, Shylo confirmed that the larger of the two deductibles is the only one you will pay. If you're running with a high Comprehensive deductible for your autos (like $500 or more), that could result in saving that amount (which is likely lower than your Homeowner deductible - typically $1,000). That feature declines in value if you purchase a lower Comprehensive Auto deductible (say $100).

I got quotes from Nationwide based on my configuration, which includes pretty much every option and accessory (needed to prevent my FOMO). I got three different quotes, all with the exact same coverages for my Rivian. One policy covering four of my vehicles (including the R1T), one for the same four vehicles bundled with Home, Earthquake, and Umbrella, and a standalone policy for the R1T.

The bundled price was the lowest. The price for the R1T within the four vehicles under one auto-only policy was 12.1% higher than the one bundled with everything, and the stand-alone R1T policy was 25.1% more than the full enchilada. All were quoted with the same coverages and features. High Liability limits with lower deductibles.

Because I know someone will want to know the exact premium (these are 6-month policies) specific to the R1T only, here you go:

Full bundle: $588.55
Autos only: $659.94 (incr. of 12.1% over full bundle)
Standalone: $736.30 (incr. of 25.1% over full bundle)

I know you all know this, but these are numbers derived for my demographics, and based on my credit score, driving record, and claims history, to mention just a few factors. Every State and Zip Code can cause differences, as will a myriad of other factors, some obvious (age, living situation, others under the same roof, favorite College Football team) and others not so obvious (I'm sworn to secrecy. Don't ask, or....you know....?).

Keep in mind, if you're thinking about doing a stand-alone policy for the R1T and retaining your current insurer for the rest of your autos and an Umbrella policy, your insurance company may not allow the R1T to be covered under the Umbrella. This is one of the many questions to ask of your insurance carrier before making a decision. Furthermore, they may have heartburn over multiple insurance companies providing coverage. Always best to ask.

Also make certain to find their stance on OEM (read Rivian) replacement parts and safety glass for the lifetime of your vehicle. Don't forget to ask where coverage ends when you leave the pavement, and then the gravel, when off-roading or overlanding, or fording streams, etc. As I've mentioned previously, AAA is solid for Roadside Assistance, but, as with any insurance company you might have or be looking at, bounce all of these details and questions off of them before making any decisions, so as to a problem down the road, or off the road....

Everyone should know that Rivian's Insurance Services Team is taking calls from everyone, not just reservation holders. Once you're in contact, they'll likely reach out for some quick details before setting up an appointment. I don't have experience with the rest of the team, but Shylo's been great to work with as I move through this process. I'm guessing the whole team is also great.

Thank you for your insight as always! That seems like a pretty great quote, but of course I don’t know what yours usually look like. I should be getting mine here within the next few days.

 

[DuckTruck]

Thank you for your insight as always! That seems like a pretty great quote, but of course I don’t know what yours usually look like. I should be getting mine here within the next few days.

I hope you’re as pleased with your quote as I am with mine. I’m still trying to get a solid quote from my own carrier, but the available VIN’s for Rivians have yet to be loaded into their rating system. I’ll be weighing the cost of the coverage against Nationwide’s Rivian-specific benefits, as well as whether going that route or splitting between two insurers will cause problems.

Thanks again for your kind words!

 

[SeaGeo]

I hope you’re as pleased with your quote as I am with mine. I’m still trying to get a solid quote from my own carrier, but the available VIN’s for Rivians have yet to be loaded into their rating system. I’ll be weighing the cost of the coverage against Nationwide’s Rivian-specific benefits, as well as whether going that route or splitting between two insurers will cause problems.

Thanks again for your kind words!

Thanks, this is awesome info! Did you happen to ask about EQ insurance?

 

[Tyleem111]

I just had another conversation with Shylo with Rivian Insurance Services. She is one of four experienced insurance professionals on the team. Each of them has a very solid background in the insurance industry predating their move to Rivian. For an insurance geek like myself, Shylo and I are able to converse in the Three-and-Four-Letter-Acronym-Rich language our world forces us to learn. BEAT.....Oh, I'm sorry.....But Enough About That...

Regarding the question of which deductible comes into play when a covered loss damages your home and one or more autos, Shylo confirmed that the larger of the two deductibles is the only one you will pay. If you're running with a high Comprehensive deductible for your autos (like $500 or more), that could result in saving that amount (which is likely lower than your Homeowner deductible - typically $1,000). That feature declines in value if you purchase a lower Comprehensive Auto deductible (say $100).

I got quotes from Nationwide based on my configuration, which includes pretty much every option and accessory (needed to prevent my FOMO). I got three different quotes, all with the exact same coverages for my Rivian. One policy covering four of my vehicles (including the R1T), one for the same four vehicles bundled with Home, Earthquake, and Umbrella, and a standalone policy for the R1T.

The bundled price was the lowest. The price for the R1T within the four vehicles under one auto-only policy was 12.1% higher than the one bundled with everything, and the stand-alone R1T policy was 25.1% more than the full enchilada. All were quoted with the same coverages and features. High Liability limits with lower deductibles.

Because I know someone will want to know the exact premium (these are 6-month policies) specific to the R1T only, here you go:

Full bundle: $588.55
Autos only: $659.94 (incr. of 12.1% over full bundle)
Standalone: $736.30 (incr. of 25.1% over full bundle)

I know you all know this, but these are numbers derived for my demographics, and based on my credit score, driving record, and claims history, to mention just a few factors. Every State and Zip Code can cause differences, as will a myriad of other factors, some obvious (age, living situation, others under the same roof, favorite College Football team) and others not so obvious (I'm sworn to secrecy. Don't ask, or....you know....?).

Keep in mind, if you're thinking about doing a stand-alone policy for the R1T and retaining your current insurer for the rest of your autos and an Umbrella policy, your insurance company may not allow the R1T to be covered under the Umbrella. This is one of the many questions to ask of your insurance carrier before making a decision. Furthermore, they may have heartburn over multiple insurance companies providing coverage. Always best to ask.

Also make certain to find their stance on OEM (read Rivian) replacement parts and safety glass for the lifetime of your vehicle. Don't forget to ask where coverage ends when you leave the pavement, and then the gravel, when off-roading or overlanding, or fording streams, etc. As I've mentioned previously, AAA is solid for Roadside Assistance, but, as with any insurance company you might have or be looking at, bounce all of these details and questions off of them before making any decisions, so as to a problem down the road, or off the road....

Everyone should know that Rivian's Insurance Services Team is taking calls from everyone, not just reservation holders. Once you're in contact, they'll likely reach out for some quick details before setting up an appointment. I don't have experience with the rest of the team, but Shylo's been great to work with as I move through this process. I'm guessing the whole team is also great.

I know you said there are a lot of variables….but this seems expensive. Maybe it’s because I’m not used to insuring $70k-$80k vehicles. I have a 2018 Subaru WRX STI, definitely not known as a cheap vehicle to insure, and the itemized amount for this vehicle (there are 3 others on the policy) is $360. That is for full coverage, $0 glass deductible, and $500 collision deductible. Policy through progressive. I guess I will see soon the cost to insure the R1T.

 

[SeaGeo]

I know you said there are a lot of variables….but this seems expensive. Maybe it’s because I’m not used to insuring $70k-$80k vehicles. I have a 2018 Subaru WRX STI, definitely not known as a cheap vehicle to insure, and the itemized amount for this vehicle (there are 3 others on the policy) is $360. That is for full coverage, $0 glass deductible, and $500 collision deductible. Policy through progressive. I guess I will see soon the cost to insure the R1T.

It’s on par with my bundled costs for my ID.4 and XC60. Both of which I have high deductibles.

 

[Atlrivian]

I know you said there are a lot of variables….but this seems expensive. Maybe it’s because I’m not used to insuring $70k-$80k vehicles. I have a 2018 Subaru WRX STI, definitely not known as a cheap vehicle to insure, and the itemized amount for this vehicle (there are 3 others on the policy) is $360. That is for full coverage, $0 glass deductible, and $500 collision deductible. Policy through progressive. I guess I will see soon the cost to insure the R1T.

Don't know your specifics like driving history, credit score, how much you drive and where you live, but I think you are in for a rude awakening. Duck's quote seems pretty good for a 80k+ adventure truck that can go 0-60 in 3sec.

 

[ATL_Canes]

Don't know your specifics like driving history, credit score, how much you drive and where you live, but I think you are in for a rude awakening. Duck's quote seems pretty good for a 80k+ adventure truck that can go 0-60 in 3sec.

Agreed - the policy through State Farm on my Tesla was close to $800/6 months (bundled with an XC 90), and that's with a clean driving history and high credit score in suburban Atlanta. So I was pleasantly surprised by the numbers Duck provided. I have my call tomorrow so we'll see what I find out.

 

[Gshenderson]

Perhaps a stupid question, but what in the world does your credit score have to do with your insurance risk?

 

[thrill]

Perhaps a stupid question, but what in the world does your credit score have to do with your insurance risk?

A company called FICO says 95% of insurance companies use your credit score as part of your risk assessment to establish an insurance score, and that this score correlates strongly enough to your risk of making a claim to make it worth their time.

EDIT: I knew I'd seen this before ... the FTC has a report from some time ago saying the correlation is valid: https://www.ftc.gov/sites/default/f...acta_report_credit-based_insurance_scores.pdf

Now, the reasons behind that a debatable, so I'm sure there will be no discussion here, ahem, but I'd guess poor planning in personal finance can correlate enough to risk taking (beating that damn 'vette off the traffic light, take that!) to make it valid.

 

[SANZC02]

Perhaps a stupid question, but what in the world does your credit score have to do with your insurance risk?

A lot of companies now are using this to gauge employment risk. Here is an article related to insurance.

 

[svet-am]

Not to revisit the past but when I posted about my feedback from State Farm being $710/6mos here - https://www.rivianforums.com/forum/threads/general-insurance-insurability-thread.1495/

I was pretty quickly told that it was "too early" or "it'll be cheaper when Rivian announces their own insurance." It looks like my State Farm agent was pretty close to the mark in terms of what we're seeing here. It doesn't look like the carriers (outside of _maybe_ some discount from Rivian for using Driver+) really care about the special features of the Rivians.

 

[Gator42]

I had a call with Rivian insurance today and it went similar to above- very professional and a good quote to boot. A couple of other interesting tidbits:

The insurance agent I spoke with sits next to guides in Normal and is actually a Rivian employee. (The quote came on Nationwide letterhead with the agent's info...)

..said he saw R1S's on the line today!

...was able to see if I already had a VIN assigned (sadly, no...)

...if you have a replacement incident they walk your file over to the guides and they are able to 'skip the line' for a new Rivian. They really, really want to keep you in a Rivian rather than have you take your settlement $$$ to another brand

Also, very little pressure or pitch- here's what we can do but no problem if you use us or not. My current provider also had no problem using Rivian's coverage as primary for my umbrella. They didn't even have Rivian in their pull down menu yet...

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