Rivian R1T car insurance rates

How do I compare insurance for the Rivian R1T?

Insurance for the Rivian R1T is expected to be higher than average, even for pickup trucks.

• Body type. The Rivian R1T is built on a new pickup truck platform designed around its electric motor. Pickup trucks are one of the most expensive vehicles to insure, and the electric pickup truck will likely be even more expensive since it’s new to the market.
• Fuel. This pickup truck runs on electric power, with an expected range between 230 and 400 miles, depending on the battery you select. Electric cars often cost 3% to 5% more to insure than their gas-powered counterparts.
• Theft rates. There will be no official theft data for a few years after the R1T’s 2020 release, but you can reasonably expect low theft rates. Electric vehicles are generally stolen much less than gas powered vehicles, mainly because EVs are almost always parked in a garage or somewhere secure that’s close to a power source.
• Maintenance. The R1T is Rivian’s first vehicle, so maintenance costs could vary widely. Generally, electric vehicles require less annual maintenance than gas powered vehicles, which helps keep insurance rates down.
• Coverage. The Rivian R1T is expected to cost over $60,000, which means you’ll likely want to get a full coverage policy with comprehensive and collision coverage, in addition to liability coverage and gap coverage.
• Warranty. At the time of this writing, Rivian hasn’t released its warranty information for the R1T. The R1T is Rivian’s first automobile, and the company announced it would release warranty information right before the market release of the R1T.
• Manufacturer offer. It’s not yet known if Rivian will have a manufacturer offer, though it might not given it’s a new company. You may be able to take advantage of a $7,500 federal tax credit that brings the $69,000 base price down to $61,500.

Does the Rivian R1T qualify for discounts?

Yes, the Rivian R1T will qualify for various vehicle-specific discounts that are offered by most insurance companies.

How reliable is the Rivian R1T?

Rivian doesn’t have any official safety or reliability ratings because it doesn’t have any vehicles on the market. The R1T and R1S are its first vehicles, both due to be released in 2020. It will take at least one year of reports before official ratings are released.

While electric cars generally score well on safety ratings, many pickups struggle to meet standards.

• Safety. There is no official safety information on Rivian vehicles, since the R1T and R1S are its first vehicles. Rivian is targeting the Insurance Institute of Highway Safety’s (IIHS) Top Safety Pick+ rating, as well as the National Highway Traffic Safety Administration’s (NHTSA) 5 star rating.
• Reliability. As with safety ratings, there won’t be any official reliability ratings from J.D. Power or other rating companies for at least one year after the R1T hits the market.
• Recalls. There’s a wait-and-see approach to whether Rivian will issue any recalls, since it hasn’t released any vehicles to the public yet.

Bottom line

The 2020 Rivian R1T is one of the first electric pickup trucks on the market, and is also Rivian’s first release as a car manufacturer. With an expected monthly insurance cost of between $300 and $350, it’s a reasonably priced electric vehicle to insure considering it’s a brand new model from a new startup company.

Insurance rates could vary quite a bit between companies, so be sure to compare different insurance providers to find the best rate for the Rivian R1T.

Frequently asked questions about the Rivian R1T

• What other experience does Rivian have in the automobile industry?

  Rivian was founded in 2009 and initially worked on prototypes for self-driving vehicles. In 2019 Amazon invested $700 million in Rivian and Ford invested a further $500 million. Amazon has also placed an order with Rivian for 100,000 electric delivery trucks.

• Since the Rivian R1T is a brand new vehicle, what information will insurance companies base rates on?

  The R1T has no road history to help determine rates, so insurance companies will use other factors. Two of the most important ones are rates for similar gas-powered pickup trucks and rates for other electric vehicles. Companies will factor these in to get a rate for the R1T.

• What competition will the R1T have in the electric pickup truck market?

  The two most immediate competitors will be Tesla and Ford. Tesla is working on an all electric pickup truck and Ford is going to release a hybrid version of its F-150. GM is also reportedly working on an electric pickup truck.