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Electrifying Insurance: Rivian offering in-house insurance, not yet available in Canada

Irvine, California — Rivian has announced its in-house insurance coverage is now available in 40 States, though the program is not yet available in Canada.

Rivian Insurance will offer buyers a quote before ordering their vehicle in hopes to make the process less stressful.  In a post on its website, Rivian said this integrated insurance coverage allows the OEM to quickly and comprehensively diagnose issues, even remotely, and “identify solutions faster.”

The automaker also wrote this would allow it to offer lower premiums compared to regular insurance brokers. 

Owners will be eligible for discounts depending on which package they chose. For instance, an automatic discount will be applied to the standard Driver+ suite of advanced driver assistance features. The automaker will add deeper discounts for drivers based on their use of Active Driving Assistant, a traffic-aware cruise control. 

According to Rivian, Driver+ uses 11 cameras, five radars and 12 ultrasonic sensors.

The insurance program is being compared to Tesla’s insurance product; though Rivian Insurance is available in more States. 

Tesla began offering insurance to its buyers in 2019 after third-party insurers hiked up premiums on Tesla vehicles.

While Rivian Insurance is currently only offered in the US, the company hopes to expand to Canada, and everywhere else its electric vehicles are set to be distributed soon.

Rivian builds the R1T electric truck and R1S electric SUV, both of which are set to begin delivering to Canada in Nov. 2021.

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