How Much Does Rivian Insurance Cost? How Does It Work?

How Much Does Rivian Insurance Cost? How Does It Work?

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Electric car manufacturer Rivian offers its own auto insurance to owners of the company's vehicles. Rivian says its insurance results in lower premiums and a better customer service experience for policyholders. Underwritten by Nationwide, Rivian says its insurance is initially available in 40 states, though the company hopes to add more.

Users of Rivian's automatic driving assistance program will receive a discount based on their driving habits. The more a vehicle owner uses Rivian's driving assistance software, the greater the discounts they'll receive.

What does Rivian car insurance cost?

Nationwide, which underwrites Rivian's policies, is cheaper than average — but rates are heavily affected by driving behaviors.

Coverage from Rivian insurance may be cheaper than from other auto insurance companies, based on an analysis of national rates from Nationwide — the underwriter of Rivian's policies. However, the premium a policyholder pays for insurance from Rivian upon renewal depends on how much the driver uses their vehicle's Driver+ features. Driver+ automatically steers, and can change speed and lanes, at the driver’s direction.

The cost of Rivian car insurance also depends on the base rate applied to Rivian's models. Since a Rivian is more expensive than a conventional automobile, the cost to insure one — even without comprehensive and collision coverages, is higher than the national average cost of coverage.

How does Rivian insurance work?

Rivian insurance promises to reward drivers who use the company's assisted driver technology with lower rates.

Rivian insurance is an example of usage-based car insurance. Rates are set in response to a driver’s individual behaviors. In most cases, insurers monitor how well a driver operates their car. Generally speaking, drivers who brake too quickly or who are reckless see higher rates, while the reverse is true for more cautious drivers.

Rivian insurance, on the other hand, adjusts its rates according to how often drivers use the Driver+ safety technology, specifically its cruise automatic driving assistance features. According to Rivian, the more a driver engages with Driver+, the better their rates will be. Drivers who frequently use the following safety features will see the largest drop in the cost of car insurance with Rivian:

  • Automatic steering, braking and acceleration
  • Adaptive cruise control
  • Lane centering and change assist
  • Trailer maneuvering assistance

Rivian insurance works with its own in-house service and parts department to retain more control over repairs after an accident. This arrangement also creates lower premiums for Rivian insurance policyholders who experience a crash and make a claim, according to the provider.

Rivian car insurance is available in 40 states, with more coming in the future. This availability sets Rivian car insurance apart from Tesla insurance, another usage-based car insurance program for specialty vehicles that also encourages drivers to use their vehicles' self-driving capabilities in exchange for lower rates. Tesla insurance is only available in a few states.

Special insurance coverages from Rivian

Rivian car insurance covers more than just the company's own vehicles. The insurer offers coverage to recreational vehicles, such as boats, ATVs and snowmobiles, too. Rivian insurance also offers home and auto insurance, enticing consumers with a 20% bundling discount.

In addition to covering all of Rivian's electric models, the insurer extends coverage to their vehicles' accessories, including the stove and rooftop tent that can come with Rivian's models. Given the company's recreational background, Rivian insurance also covers damage that may occur during off-road driving.

Rivian insurance customer service

Rivian allows customers to contact insurance advisors with their needs. Policyholders can call or chat with an advisor, or contact a customer service representative with general questions. However, because Nationwide underwrites Rivian's insurance policies, claims and communication are serviced by Nationwide instead of Rivian.

The good news for policyholders is that Nationwide's customer service is well-regarded by several measurements. The insurer receives fewer complaints relative to other providers in the market, according to the National Association of Insurance Commissioners. Nationwide also ranks above average in J.D. Power's claims satisfaction study. And the insurer's credit score is rated as superior by A.M. Best, meaning there's little chance of it being unable to pay claims.

Metric
Score
NAIC Complaint Index0.53
J.D. Power claims satisfactionNinth of 25 insurers
A.M. Best credit ratingA+
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Methodology

ValuePenguin collected car insurance quotes for drivers across the country. In addition to Nationwide, which underwrites Rivian insurance policies, we also got quotes from State Farm, American Family, Progressive, Geico, Farmers and Allstate. Our sample profile is a 30-year-old male with no previous insurance claims.

ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only. Your own quotes may differ.

Andrew Hurst

Andrew Hurst is a Data Writer at ValuePenguin who reports on insurance. His analysis has been featured in Forbes, MSN, USA News and Fox News, among others. He's also appeared in interviews broadcast by ABC and the CW. He previously taught composition and research at Wright State University.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.