The Tesla Cybertruck doesn’t simply include a hefty price ticket. It additionally has excessive insurance coverage prices.
A new report from insurance coverage market Insurify discovered that full protection insurance coverage for the electrical truck prices 45% greater than the nationwide common.
Insurify mentioned the typical Cybertruck driver is paying $3,392 per 12 months in insurance coverage, in comparison with the nationwide common of $2,336.
The excessive insurance coverage prices are partially due to the truck’s excessive price. The truck’s beginning value is over $80,000 and might price greater than $100,000 as soon as clients add completely different trims and different add-ons.
Regardless of the excessive price, Insurify discovered that Cybertruck premiums are literally cheaper than different Tesla (TSLA) fashions. The Mannequin Y has a mean annual insurance coverage price of $3,832 and the Mannequin 3 has a mean annual price of $4,347, Insurify discovered. That’s partially as a result of Cybertruck drivers are typically older, which means they pay much less for insurance coverage on common than the youthful drivers of different fashions.
Whereas the Cybertruck’s design is definitely polarizing, greater than 28,000 automobiles have been bought since Tesla unveiled the EV truck final 12 months, Insurify reported. Nonetheless, the truck’s rollout has been affected by points, with six completely different remembers, together with ones that concerned its backup digital camera and accelerator pedal.
