Following its veteran Tesla’s lead, Amazon.com Inc and Ford Motor co-backed electric vehicle startup Rivian launched its in-house insurance program for customers.
Rivian’s insurance venture is preceded by a similar offering from its rival Tesla which was the first to offer its own vehicle insurance policy for customers.
Rivian insurance goes hand-in-hand with the company’s warranty coverage and its mobile service model. It will offer lower premiums as its technology allows for lower repair costs, many of which can be done remotely. Besides the vehicle, Rivian’s insurance will also cover off-roading equipment, including Rivian accessories including Camp Kitchen and Rooftop Tent as well as other vehicles, home, boat, camper and dirt bikes, the company said.
Furthermore, using its Driver+ will result in discounts on Rivian assurance. Rivian will also allow drivers to bundle their insurance policies for their home and powersports equipment like motorcycles to reduce costs further.
It said, “By working as one team with Rivian Service and Parts, and with Rivian Collision Centers and Service Centers performing the work, our aim is to deliver a fully integrated experience. This efficiency not only helps owners get their vehicles back more quickly, it also helps us offer lower premiums.”
Unlike Tesla’s insurance which is currently only available in California, the Rivian insurance offering will be available in 40 states initially and slowly expand to every market its vehicles are available in.
The electric vehicle maker has been making numerous moves as it speeds closer to the launch of its first electric SUV and a pickup truck this summer.
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