Following in GEICO’s footsteps, more insurance companies are dropping Cybertruck policies. One such individual who lost his Cybertruck coverage says his insurer cited the "high cost of replacing Cybertruck parts" as the main reason.
www.torquenews.com
Sounds like maybe some parts of Geico don't know what other parts of Geico are doing. Also, not a fan of Torquenews coverage. Like Jalopnik, they come at it from a biased perspective.
Given the crazy news coverage, I'm not surprised some insurers are going high and right. Give it a year to settle. The parts prices we've seen so far dont appear outrageous compared to comparable vehicles. Especially bodywork. Sure the panels cost more, but since a huge amount of collision repair costs of paint matching and blending, you save on all of that.
