Insurer would not cover a Lucid

[jkndog]

I wanted to share a situation I experienced with my new Lucid Air. Prior to taking delivery, I called my agent to quote coverage on the car, and they told me that my insurance company would not cover the Lucid as it is an undesirable car. I let my agent know I intend to lease the Lucid, and I will get insurance for the car elsewhere (and keep our other cars on our current policy). Annoying, but not a big deal. Well, my insurer decided to cancel my Umbrella Policy since I am insuring 1 car with another Insurance Company. Fast forward, I decided to move all my vehicles over to Allstate who was competitive with my previous insurer and they are writing my Umbrella Policy.

If you have multiple cars and an Umbrella Policy, I would not wait until the last minute like I did and assume your insurer will cover a Lucid. Everything worked out in the end, but it was a hassle I wish I had avoided.

 

[Adnillien]

Who was your prior insurer that found the Lucid Air to be an undesirable car?

 

[sri]

I have quoted my Lucid with all major providers and non said anything like this.

 

[Instinctive]

Wow. Were you with like a mom and pop insurer or something? USAA was easy breezy.

 

[Amster]

That is strange. I've gotten quotes from a lot of insurance companies and never gotten a response like that. I did run into that when I was looking at a loan for it. Neither of the credit unions I asked would finance it.

 

[terrycs]

I wanted to share a situation I experienced with my new Lucid Air. Prior to taking delivery, I called my agent to quote coverage on the car, and they told me that my insurance company would not cover the Lucid as it is an undesirable car. I let my agent know I intend to lease the Lucid, and I will get insurance for the car elsewhere (and keep our other cars on our current policy). Annoying, but not a big deal. Well, my insurer decided to cancel my Umbrella Policy since I am insuring 1 car with another Insurance Company. Fast forward, I decided to move all my vehicles over to Allstate who was competitive with my previous insurer and they are writing my Umbrella Policy.

If you have multiple cars and an Umbrella Policy, I would not wait until the last minute like I did and assume your insurer will cover a Lucid. Everything worked out in the end, but it was a hassle I wish I had avoided.

How ironic .... and you even live in the same state they are actually built.

 

[terrycs]

That is strange. I've gotten quotes from a lot of insurance companies and never gotten a response like that. I did run into that when I was looking at a loan for it. Neither of the credit unions I asked would finance it.

This is also odd .... would they have changed their mind if you increased the down payment?

 

[Amster]

This is also odd .... would they have changed their mind if you increased the down payment?

No, the amount being financed was a small percentage of the car cost. They said it was too new, or not in their database. This was back in the middle of 2022.

 

[HC_79]

Who was your prior insurer that found the Lucid Air to be an undesirable car?

Tesla Insurance

 

[jkndog]

Wow. Were you with like a mom and pop insurer or something? USAA was easy breezy.

It was with a smaller insurer - Pekin Insurance out of Pekin Illinois which is part of the Farmers Insurance Family. I was speaking with my new Allstate agent, and he said some insurers are not happy about the Lucid labor rates and parts pricing.

 

[jkndog]

The Tesla insurance is hilarious, that would have been priceless. It was Pekin Insurance - they say they are a @ $2 billion company with 900 employees but I bet that is with their parent co of Farmers

 

[ADSTEIN]

I had good luck with Plymouth Rock in MA. $2,200 for Air Touring.

 

[thecodingart]

It was with a smaller insurer - Pekin Insurance out of Pekin Illinois which is part of the Farmers Insurance Family. I was speaking with my new Allstate agent, and he said some insurers are not happy about the Lucid labor rates and parts pricing.

Crummy insurance company being insurance companies

 

[dingo]

I had good luck with Plymouth Rock in MA. $2,200 for Air Touring.

Woah... that is good! Mine is higher in MA with Travelers

 

[ADSTEIN]

Woah... that is good! Mine is higher in MA with Travelers

Of course I am in the Berkshires which I am sure helps the rates.

 

[CLTGT]

Just got my State Farm renewal, $1800/year.

 

[billvb]

Just got my State Farm renewal, $1800/year.

Yeah, same - that’s what we pay for our State Farm policy for our Air GT.

 

[Coho]

My State Farm in AZ was also $1800/yr

 

[hydbob]

Just got my State Farm renewal, $1800/year.

Jealous! Mine is $2300/6...

 

[Genghis]

Jealous! Mine is $2300/6...

Jealous! Mine is higher… SoCal.

I even shopped around this year, and it’s ridiculously high for my GT everywhere.