Rivian, the electric vehicle manufacturer, is set to launch its own auto insurance for its inaugural R1T truck and R1S SUV, which are due to begin deliveries this summer. The company claims that customers will find it easy to get a quote when purchasing a Rivian vehicle, and it plans to offer a discount by default in recognition of its standard “Driver+” advanced driver assistance suite (ADAS). ## Key Features of Rivian Insurance
Rivian is confident in its ADAS, and plans to lower insurance rates further for consumers who consistently use the hands-off, eyes-on Active Driving Assistance feature. This technology allows the vehicle to handle steering and speed while the driver supervises and is ready to take over if necessary. “With Active Driving Assistance engaged, you can keep your hands off the wheel and feet off the pedals, and your vehicle will automatically steer, adjust speed, and change lanes on your command on the highway,” according to Rivian’s customer-facing Q&A.
How Driver+ Works
The Driver+ system uses 11 cameras, five radars, and 12 ultrasonic sensors to enhance safety. Rivian believes that its comprehensive sensor technology improves safety, and is offering insurance rewards to customers who opt-in and frequently use the Active Driving Assistance feature. The insurance rewards program is currently available in select states, with plans to expand soon.
Benefits of Rivian Insurance
Rivian, underwritten by Nationwide, is betting that its insurance product’s financial health will be tied to the vehicle’s ability to avoid crashes. This might make Rivian more responsive to collision repairers who wish to fix vehicles properly. The company highlights its certified auto body shops as an important element of its insurance offering. “We understand our vehicle, our technology, and our repair costs better than anyone,” Rivian writes. “This allows us to quickly and comprehensively diagnose issues — many times even remotely — as well as identify solutions faster.”
Pricing and Availability
The R1T Launch Edition, starting at $75,000, will be available in June, while the base model will cost $67,500 when it goes on sale in January 2022. The R1S Launch Edition, starting at $77,500, will arrive in August, and the base model will start at $70,000 in January. Customers can also bundle Rivian’s insurance with home and boat coverage.
Rivian did not respond to a request for more information on Rivian Insurance. For more details, customers can refer to Rivian’s insurance “story” and Rivian Insurance Q&A.
