On social media, many viewers were stunned after a woman shared her shock at the high insurance costs for the Tesla Cybertruck.
Rebecca Scott’s experience with insuring her new Tesla Cybertruck left her shocked and frustrated.
She found herself paying more for insurance than she expected, leaving her with a bill that’s more than half her mortgage.
Rebecca was shocked after receiving an insurance quote for her Cybertruck
Rebecca had previously owned a Tesla Model 3, which she loved. So, when the Cybertruck was released, she was excited to get her hands on the latest model.
After a test drive, she was sold on its spacious design, LEDs, and covered bed. She quickly placed an order.
However, when it came time to insure her new vehicle, things took an unexpected turn.
Rebecca’s excitement turned to disbelief when she tried to insure the Cybertruck.
She had previously used Tesla’s insurance for her Model 3, but when she moved to Massachusetts, she found out that Tesla insurance wasn’t available in that state.
@beccasophiascott Replying to @GlitterPig419 I finally got my Insurance quote!🥲 #tesla #cybertruck #teslatok #elonmusk
After searching for alternatives, Rebecca found an insurance company that would cover her Model 3, but at a steep price: $500 per month.
However, when she asked about insuring the Cybertruck, she received an even higher quote.
She explained her situation on social media, saying, “I was prepared to pay more for my Cybertruck, but the insurance quote was beyond anything I expected.”
Rebecca stunned by stragging monthly premium
Rebecca’s insurance quote for the Tesla Cybertruck came in at $861.83 per month.
This was a total of $5,171 for six months! The cost was far more than she had anticipated.
In comparison, her monthly payment for the Tesla Model 3 had been $550, which she considered reasonable.
However, the Cybertruck’s premium price and the lack of traditional car expenses like fuel or maintenance meant she was still prepared to pay a bit more. But this was a shock.
She said: “Ok, I used to pay $170 monthly for full coverage on everything. Now I am paying $550 per month for my Tesla Model 3 for the last 6-month period.”
“When I bought the Cybertruck, I was prepared to pay more than $550. I knew that. With a Tesla, I did not have the maintenance and cost of gas with a regular car, so I could pay a little more for insurance, but I’m saving so much more on the other end.”
“Ok, so to get to the point, the insurance company quoted me $861.83 monthly for my Tesla Cybertruck. That’s $5,171 for six months! So, now my new Cybertruck costs me more than half my mortgage.” She added.
The real cost of insuring a Tesla Cybertruck
Insuring a Tesla Cybertruck is no small expense.
A report from Barrons stated that insuring a Cybertruck costs significantly more than insuring a high-end Ford F-150 pickup truck.
The average cost to insure a Cybertruck is about $200 per month higher than a Ford F-150, according to Barrons.
They also mention that factors like collision repair costs and parts availability for Cybertruck affect the overall premium.
Why Cybertruck insurance is more expensive
The cost of insuring a Cybertruck is impacted by several factors.
Barrons explains that the vehicle’s higher cost, repair costs, and overall risks contribute to the elevated premiums.
The Cybertruck is roughly 30% more expensive than some F-150 models, which significantly influences the cost of insurance.
Other factors, such as expected mileage, theft likelihood, and driving records, also play a role in the premium.
For many owners, this means they could be paying anywhere from $3,000 to $4,500 annually for insurance, depending on location and personal factors.
This is 50% higher than the average vehicle insurance cost.