The electric vehicle manufacturer Rivian says it'll offer its own auto insurance for its inaugural R1T truck and R1S SUV, which begin deliveries this summer.
The OEM said customers would find it easy to obtain a quote when buying a Rivian, also it intends to provide a discount automatically in recognition of their standard “Driver+” advanced driver assistance suite.
In fact, Rivian is apparently so positive about its ADAS that it will lower the rates further for consumers who consistently use the hands-off, eyes-on Active Driving Assistance feature. We've got the technology involves the vehicle handling the steering and speed while the consumer supervises and stands prepared to take over if your problem appears imminent. It’s basically rewarding drivers for letting the vehicle take over a lot of driving.
“With Active Driving Assistance engaged, you can preserve your hands off the wheel and feet from the pedals as well as your vehicle will automatically steer, adjust speed, and alter lanes on your command on the highway,” Rivian writes inside a customer-facing Q&A. “Because our sensor technologies are so comprehensive and improves your safety, whenever you opt in to the insurance rewards program, a lot more you engage Active Driving Assistance, the greater the reward you can earn at renewal. Insurance rewards will be offered in select states with plans to expand soon.”
According to Rivian, Driver+ uses 11 cameras, five radars and 12 ultrasonic sensors.
If the OEM is betting the insurance coverage product’s financial health around the vehicle’s ability to avoid crashes, it might be more responsive than traditional insurers to collision repairers who wish to fix vehicles properly.
Rivian highlights its certified auto body shops being an important component of its insurance.
“Problems in later life our vehicle, our technology and our repairs better than anyone,” the OEM writes. “This enables us to quickly and comprehensively diagnose issues – often even remotely – as well as identify solutions faster. This efficiency not just helps get the vehicle back to you more quickly, it will help us offer lower premiums.
“With Rivian Collision Centers and repair Centers performing the work, we are able to ensure high-quality repairs. By being employed as one team with Rivian Service and Parts, we're confident your experience using Rivian Insurance is going to be transparent and less stressful, allowing you to get back to enjoying your vehicle faster.”
The R1T Launch Edition coming in June starts at $75,000, but the base model will definitely cost $67,500 when it continues sale in January 2022. The R1S Launch Edition arriving in August starts at $77,500, and also the base model arriving in January starts at $70,000.
Rivian said customers may also bundle its insurance with home and boat coverage.
Rivian didn't respond to a request more information on Rivian Insurance.
