GEICO, the second-largest vehicle insurance underwriter in the US, has decided it will no longer cover Tesla Cybertrucks. The company is terminating current Cybertruck policies and says the truck “doesn’t meet our underwriting guidelines.

Those were GEICO ’s words in a letter made public by Tesla Cybertruck owner Robert Stevenson when he was notified of the insurer’s decision not to renew coverage for the electric vehicle. Notably, Stevenson has seven other vehicles on his policy – all with coverage GEICO is able to provide.

Cybertruck owners are stunned as GEICO cancels policies for Teslas 2024 model, citing non-compliance with underwriting guidelines. Frustrated drivers are now searching for insurers willing to cover their

Geico (BRK.A) on Monday denied that it has stopped underwriting Tesla’s (TSLA) Cybertruck electric pickups after claims circulated on social media and enthusiast forums.

Cybertruck owners have faced several challenges, from personally cleaning their new vehicles to dealing with transport-related rust and managing five separate recalls.

An email allegedly sent to a Tesla owner stated that the Cybertruck didn't meet the insurance provider's underwriting guidelines

Claiming that the truck does not meet its underwriting standards, GEICO (BRK-A, BRK-B) will reportedly no longer offer insurance to cover Tesla’s (TSL) Cybertruck and is terminating coverage for existing policies.