Rivian will offer buyers of its EVs custom insurance coverage

Shane McGlaun - Apr 17, 2021, 12:19pm CDT
Rivian will offer buyers of its EVs custom insurance coverage

Electric vehicle automaker Rivian has announced Rivian Insurance which will provide buyers of its electric vehicles with comprehensive coverage designed to cover the vehicle on whatever adventures they take it on. The insurance coverage is design using the Rivian connected vehicle platform and suite of safety features built into the truck. The automaker says the insurance plan will cover the vehicle and all accessories even when off-road.

Rivian Insurance will be available initially in 40 different states, and the automaker says it’s working to bring the insurance coverage to every market where its vehicles are available. Those who purchase the insurance will also have the opportunity to bundle home, recreational equipment, and other vehicles into their plan. Rivian Insurance is integrated into the digital ordering process for the vehicle allowing buyers to get a quote in minutes in one experience.

Phone assistance is available for those who have questions, and there are licensed Rivian Advisors to help with insurance needs. The automaker says it wants customers to feel comfortable using the full capability of the electric vehicle they purchase, and the plan allows for coverage for the R1 even when off-road. Many insurance plans won’t cover any damage to the vehicle or accessories when the damage doesn’t occur on a normal road.

All accessories installed on the vehicle are covered in the insurance plan, including Rivian official accessories like the Camp Kitchen and Rooftop Tent. The insurance plan also leverages Rivian Collision Centers and Service Centers to perform the work to ensure high-quality repairs when needed. Rivian Insurance says that it can offer lower premiums to owners of its electric vehicles because each Rivian EV is fitted with the Driver+ safety technology package resulting in a rate reduction.

Driver+ can steer and adjust speed on the highway, and when users opt into that program, they are encouraged to engage Active Driving Assistance, which can result in lower insurance rates at renewal. There is no indication of what the insurance might cost because rates vary depending on things like driving record and credit score.


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