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Crash concerns and insurance rates…

TollKeeper

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And the R1S is gone from IAA? Thats odd.
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electruck

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electruck

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Someone posted on Reddit the other day that Farmers insurance is, or will be shortly, classifying Rivians as an "exotic" vehicle. Now this is Reddit, so take it with as many grains of salt as you like, but if that is true then it's going to be costing a lot more to insure our vehicles in the near future.
I am currently with Farmers, will be interesting to see what kind of quote I get when the time comes.
Just got my auto policy quote from Farmers this week. Current rate for my XC60 is $675/6mo. Quote for R1S was $1424/6mo. That's everything else same-same, including multi-policy discounts, etc and just swapping out the vehicle. Will be interesting to see what Rivian Insurance quotes me.
 

Seanfi

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This thread made me go look at my rates with State Farm. My R1T is 30% higher to insure than my Cadillac CT5-V Blackwing that cost 50% more to buy. Same coverage and usage. Ouch.
 

zipzag

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Rivian's insurance will probably be easiest to deal with in case of an accident. Or State Farm. But the most important choice, in my experience, is to not use Geico for an expensive/unusual vehicle.
 

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Count Orlok

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Just got my auto policy quote from Farmers this week. Current rate for my XC60 is $675/6mo. Quote for R1S was $1424/6mo. That's everything else same-same, including multi-policy discounts, etc and just swapping out the vehicle. Will be interesting to see what Rivian Insurance quotes me.
the XC60 is 5-6 years old which would in part explain the price difference.
 

electruck

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the XC60 is 5-6 years old which would in part explain the price difference.
Of course, and even a new XC60 is at a completely different price point than a Rivian. I was definitely expecting a rate increase, just not 2x.
 

Zybane

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This thread made me go look at my rates with State Farm. My R1T is 30% higher to insure than my Cadillac CT5-V Blackwing that cost 50% more to buy. Same coverage and usage. Ouch.
I have a brand new 2023 F150 Raptor that cost $90K and just got a USAA replace quote for a Rivian R1S. The Rivian would bump my 6-month policy on the Raptor from $720 to $980. o_O
 

R1Sky Business

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Rivian's insurance will probably be easiest to deal with in case of an accident. Or State Farm. But the most important choice, in my experience, is to not use Geico for an expensive/unusual vehicle.
Geico details pls..
 

DamonR1T

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Based on all of this, seems like the insurance rates are going to go through the roof on these vehicles. Am I the only one with this concern? Not sure having a vehicle that is so expensive to repair that it is getting totaled by these small impacts really aligns with Rivian’s sustainability direction.

Maybe I am reading too much into it, would like some other perspectives, especially if anyone is in the insurance industry.

My progressive insurance went up about $250 (every 6 mos.) versus my Tesla Model 3 I replaced.
 

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zipzag

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Geico details pls..
A Geico driver hit the side of the rear bumper of my Model Y. I had a three camera video montage from the Tesla dash cam to prove fault. Geico refused to pay the Tesla certified bodyshop for a new bumper. Geico wanted some paint and a buff. The bodyshop said that there was no way that would look right long term. So I filed with my insurer, Progressive. Progressive paid in full, gathered a group of non-payments from Geico, and sued Geico. Progressive offered to add any other costs I had associated with the accident to the lawsuit. That's how I know the Progressive couldn't get Geico to pay.

Even though Progressive did great after some prodding, I switched to Tesla insurance when it became available. I realized that I never want to argue about OEM parts or certified bodyshops. I assume Rivian has one certified bodyshop in Chicago. An accident in a low volume expensive vehicle has a narrow path to a satisfactory repair.

As a side note, without the dash cam cam footage, I would at best had 50-50 liability. It was a four way stop and the Geico driver was on the right. Needing to explain little to the police or insurance companies was novel.
 

electruck

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Just got my auto policy quote from Farmers this week. Current rate for my XC60 is $675/6mo. Quote for R1S was $1424/6mo. That's everything else same-same, including multi-policy discounts, etc and just swapping out the vehicle. Will be interesting to see what Rivian Insurance quotes me.
Follow up regarding my quote from Rivian Insurance: $846/6mo for auto and basically matching Farmers for my homeowners policy. This is much more in line with my expectations. With all other things being equal, Farmers is nearly $100/mo more expensive. The RI Advisor I spoke with said they had spoken with 3 other Farmers customers today all reporting that Farmers was significantly more expensive. Sounds like Farmers doesn't really want to insure Rivian vehicles at the moment. Which is fine, I can and will take my business elsewhere. It's unfortunate though, I really like my Farmers agent - but not that much.
 

EVTrukHog

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I went with the Rivian Nationwide policy for ease of purchase transaction, comprehensive glass coverage, new car parts, and competitive rate relative to my incumbent policy... just got the policy renewal bill and they raised the rate by 9% after the initial 6 months. Seems pretty steep if this is the escalation curve at the next several policy renewal terms.
 

mabowden

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Rivian's insurance will probably be easiest to deal with in case of an accident. Or State Farm. But the most important choice, in my experience, is to not use Geico for an expensive/unusual vehicle.
I moved everything from Geico to Rivian (nationwide) just because of this. Ended up costing roughly the same anyway, but I didn't want to be stuck with Geico if I ever get in an accident.
 

sherold

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I went with the Rivian Nationwide policy for ease of purchase transaction, comprehensive glass coverage, new car parts, and competitive rate relative to my incumbent policy... just got the policy renewal bill and they raised the rate by 9% after the initial 6 months. Seems pretty steep if this is the escalation curve at the next several policy renewal terms.
The same exact scenario happened to me. I rolled mine into my existing AAA policy at a lower rate than my initial Riv/Nationwide policy.
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