Tesla’s much-anticipated retro-futuristic Cybertruck has sparked a wide range of reactions, but one thing is for certain: it will help grow the new electric truck market. Insuring a pickup and an electric vehicle costs a lot, but the truck itself is quite cost-effective. Tesla Cybertruck all-electric pickup has a high level of insurance. The average cost of Tesla Cybertruck car insurance rates is three times the national average of $1,300 per year, or $400 per month and $4,800 per year. In other words, your annual insurance cost to base is about 13% more than the national average of 4%, but it is still in line with predicted electric pickup pricing, with the lower-end cyber trucks starting at $39,9000.
How do I compare insurance for the Cybertruck?
Cyber truck insurance is projected to be higher than the norm for electric and cargo vehicles.
- Body type. As the company’s first foray into electric pickups, Tesla’s cyber-truck has one of the most expensive insurance premiums of any automobile. As an added bonus, the cyber truck has a towing capacity of almost 14,000 pounds and an unbreakable body, which raises the cost of insurance.
- Fuel. The cyber truck can carry you across a distance of 250 to 500 miles for a single charge, depending on the model you select. Even yet, electric vehicles (EVs) are more expensive to buy and insure than gas vehicles.
- Theft rates are on the rise. Electric vehicles are stolen far less frequently than gas-powered ones, mostly because they are parked in parking lots with their charging cords still attached. According to the Highway Loss Data Institute, Tesla’s vehicles have a theft rate that is 90% lower than that of standard autos, thus the cyber truck should have very low theft rates.
- Maintenance. The annual maintenance costs for a Tesla Model S are about $560, thus a cyber truck may expect to incur costs on par with or even more. Because electric vehicles are new to the market, they may require servicing on a more frequent basis. Despite this, EPs’ maintenance costs are lower than those of their gas-powered counterparts.
- Coverage. There will be three models of the cyber car, with prices ranging from around $40,000 to roughly $70,000. Along with enough uninsured damage limits and motorsport property coverage, you’ll want to make sure your Tesla is protected by purchasing comprehensive collision insurance. Residents in California may be able to obtain insurance through Tesla Insurance.
- Warranty. The battery in a new Tesla lasts for eight years, which equates to 100,000 miles or four years of driving. This guarantee also includes unrestricted roadside assistance, so you may forego this coverage from your automobile insurance policy.
- Offer from the manufacturer. When the automobile is available, check with your local Tesla dealership to see if they have any special Cybertruck offers. Tesla sold over 200,000 electric vehicles, therefore the $7,500 federal tax credit does not apply to the CYB.
Does the Tesla Cybertruck qualify for discounts?
In theory, the Tesla Cybertruck should qualify for many reductions on your policy, but the specific savings will vary depending on your model and the insurance company you choose to work with.
- Electric vehicle
- Passive restraints
- Active restraints
- Anti Lock brakes
- Antitheft system
How reliable is the Tesla Cybertruck?
Before the cybercar is on sale, the official safety and security ratings will not be revealed, although ratings similar to Tesla’s other vehicles may be reasonably expected. There are no formal safety evaluation tests for the CyberTRK yet because the vehicle’s design and construction make it unique.
- Safety. To look at it, the cyber truck should fly through safety tests weather from IIHS or NHTSA because of its steel alloy construction and bulletproof glass, both of which are used on SpaceX rockets. There is nothing angular about a pickup truck.
- Reliability. Gas-powered car enthusiasts and owners can’t wait to learn how reliable the truck will be. No matter how many improvements are made to the Tesla Model 3 or other EVs in the future, older Tesla EVs will never be appreciated for their reliability. Low reliability ratings necessitate additional maintenance and higher insurance premiums.
- Recalls. Tesla has recalled over 120,000 Model S cars, the second time for the same problem: a faulty power steering bolt. One of the first all-electric pick-up trucks, the Cyber-truck has a promising future.
New age of truck design will begin with Tesla Cybertruck, the first all-electric pickup truck on the market. When it comes to insurance, the safety rating of the automobile is quite important, but combining an electric car with a pickup truck would result in higher costs.
You may compare and check out our review of Ford F-150 Insurance Rates.