- What insurance does a Rivian need?
- How much does Rivian insurance cost?
- Rivian insurance cost by company
- Rivian insurance vs. insurance for other electric cars
- Average Rivian insurance cost by state
- Does Rivian provide its own insurance program?
- What is covered by Rivian Insurance?
- Is Rivian’s car insurance cheaper than standard car insurance providers?
- Is Rivian Insurance available in every state?
- Methodology
- FAQ: Rivian insurance cost
What insurance does a Rivian need?
Rivians require insurance coverage that meets or exceeds state minimum requirements. In most states, that means liability insuranceLiability insurance covers sums that an insured becomes legally obligated to pay because of bodily injuries or property damage, or financial losses caused to other people., but in other states it may include personal injury protectionPersonal injury protection (PIP) pays for your medical, hospital and funeral expenses resulting from a car accident, regardless of who's at fault., medical payments and uninsured motorist coverage.
If you have a loan or lease your Rivian, you will also require comprehensive and collision coverage.
Electric vehicles may need coverage that gas-powered vehicles don’t. Other specialized insurance Rivians may need includes coverage for chargers, accessories, and other technology and equipment.
How much does Rivian insurance cost?
The average annual premiums for the 2023 R1S are $3,771, and the 2023 R1T are $3,178. Yearly average insurance rates for 2022 models are slightly less expensive at $3,652 for the R1S and $3,098 for the R1T.
Newer vehicle models often feature more expensive equipment, which can result in higher repair and insurance costs. However, there is no significant difference in average rates from the 2022 to 2023 model years.
| Rivian models | Annual premium | Monthly premium |
|---|---|---|
| R1S (2023) | $3,771 | $314 |
| R1T (2023) | $3,178 | $265 |
| R1S (2022) | $3,652 | $304 |
| R1T (2022) | $3,098 | $258 |
Rivian insurance cost by company
Nationwide has the lowest average Rivian insurance rates at $2,262 a year for the R1S and $2,308 for the R1T.
Progressive is the most expensive, at $4,947, for the R1S, while Allstate has the most expensive average rate for the R1T, at $4,381 a year.
“With EVs, you're seeing from a traditional insurer that you get a higher premiumThe payment required for an insurance policy to remain in force. Auto insurance premiums are quoted for either 6-month or annual policy periods. just because the parts, especially the battery, are expensive to repair or replace,” says Michael Nadel, insurance expert and partner with Simon-Kucher, a global consultancy firm.
“There's also a longer typical lead time to actually service them because of the lack of parts that exist in the market. These lead to higher premiums, but now you get some discounts often from carriers in terms of green focus carriers or green discounts, as they can be environmentally more conscious.”
Compare average annual insurance rates by company for the R1S and the R1T below.
| Provider | Annual rate, R1S | Annual rate, R1T |
|---|---|---|
| Allstate | $4,686 | $4,381 |
| Farmers | $4,706 | $3,680 |
| GEICO | $3,445 | $2,897 |
| Nationwide | $2,262 | $2,308 |
| Progressive | $4,947 | $3,336 |
| State Farm | $2,694 | $2,625 |
Rivian insurance vs. insurance for other electric cars
Rivian's insurance premiums are comparable to those for other electric vehicles, with rates for a Rivian higher at some companies than the average for electric vehicles and lower at others.
For example, at Farmers, the average cost of electric vehicle insurance is $4,098, while Rivian insurance is a bit below the average at $4,022. At Allstate, on the other hand, Rivian insurance is a few hundred dollars higher than the average electric vehicle rate: $4,486 for a Rivian vs. $4,197 on average.
Below, we’ve compared average annual rates for all electric vehicles with rates for Rivian insurance from major carriers.
| Providers | Annual average rates: all electric vehicles | Annual premium for Rivian insurance |
|---|---|---|
| Allstate | $4,197 | $4,486 |
| Farmers | $4,098 | $4,022 |
| GEICO | $2,511 | $3,079 |
| Nationwide | $2,588 | $2,293 |
| Progressive | $2,994 | $3,873 |
| State Farm | $2,537 | $2,648 |
Average Rivian insurance cost by state
Louisiana has the highest average annual rates for both Rivian models, with $6,240 for the R1S and $5,453 for the R1T. Wyoming offers the lowest Rivian insurance rates, with both models averaging $1,697.
Insurance costs vary significantly by state, as coverage requirements and laws differ among states.
The table below shows average annual insurance rates for the R1S and R1T in each state.
| State | Annual premium for R1S (2023) | Annual premium for R1T (2023) |
|---|---|---|
| Alaska | $3,431 | $2,817 |
| Alabama | $3,537 | $2,722 |
| Arkansas | $4,533 | $3,473 |
| Arizona | $3,072 | $2,515 |
| California | $4,374 | $3,691 |
| Colorado | $4,535 | $3,727 |
| Connecticut | $4,549 | $3,862 |
| Washington, D.C. | $4,684 | $4,102 |
| Delaware | $3,471 | $3,531 |
| Florida | $4,060 | $3,726 |
| Georgia | $4,808 | $4,040 |
| Hawaii | $1,731 | $1,738 |
| Iowa | $3,786 | $3,180 |
| Idaho | $2,036 | $1,755 |
| Illinois | $3,085 | $2,565 |
| Indiana | $3,172 | $2,638 |
| Kansas | $4,813 | $3,834 |
| Kentucky | $4,940 | $4,478 |
| Louisiana | $6,240 | $5,453 |
| Massachusetts | $3,486 | $3,243 |
| Maryland | $3,636 | $3,031 |
| Maine | $2,917 | $2,465 |
| Michigan | $4,816 | $3,535 |
| Minnesota | $3,419 | $2,878 |
| Missouri | $4,588 | $4,290 |
| Mississippi | $4,642 | $3,825 |
| Montana | $4,443 | $3,434 |
| North Carolina | $3,257 | $3,122 |
| North Dakota | $3,409 | $2,670 |
| Nebraska | $4,048 | $3,329 |
| New Hampshire | $3,107 | $2,701 |
| New Jersey | $3,334 | $2,889 |
| New Mexico | $3,712 | $2,689 |
| Nevada | $3,477 | $2,989 |
| New York | $3,330 | $2,935 |
| Ohio | $2,811 | $2,294 |
| Oklahoma | $3,821 | $3,064 |
| Oregon | $3,222 | $2,509 |
| Pennsylvania | $4,343 | $3,555 |
| Rhode Island | $4,807 | $4,010 |
| South Carolina | $3,163 | $2,782 |
| South Dakota | $5,287 | $3,994 |
| Tennessee | $4,484 | $3,710 |
| Texas | $3,421 | $3,883 |
| Utah | $2,833 | $2,291 |
| Virginia | $2,537 | $2,099 |
| Vermont | $2,968 | $2,556 |
| Washington | $2,880 | $2,218 |
| Wisconsin | $3,038 | $2,544 |
| West Virginia | $3,320 | $2,891 |
| Wyoming | $1,697 | $1,697 |
Does Rivian provide its own insurance program?
Yes, Rivian offers insurance for its owners through underwriters that include Nationwide, Progressive, and The Cincinnati Insurance Company.
While one of the underwriters administers your policy, you can contact Rivian for general insurance questions. Additionally, using Rivian Insurance allows you to connect with the company for repairs after an accident easily. This streamlined process can save you time and ensure that your Rivian is repaired by professionals who are familiar with the vehicle.
What is covered by Rivian Insurance?
Rivian Insurance offers all the standard car insurance coverages, including:
- Liability
- Comprehensive
- Collision
- Uninsured/underinsured motorist
- Personal injury protection
- Medical payments
- Roadside assistance
- Gap coverage
Rivian Insurance, however, stands out with coverage tailored to its vehicles, including:
- Protection for charging equipment and technology
- Specialized coverage for off-roading.
Rivian drivers can also buy home, boat and camper insurance policies.
Is Rivian’s car insurance cheaper than standard car insurance providers?
While insurance rates depend heavily on driver characteristics, drivers who choose Rivian Insurance typically see similar rates to those offered by other carriers, especially considering that the company utilizes three traditional insurers as underwriters.
Drivers may also qualify for discounts, such as multi-policy and multi-car savings. Rivian Insurance also offers a discount for using its Driver+ system, which assists drivers with steering and speed on highways.
Is Rivian Insurance available in every state?
Rivian Insurance is available in all 50 states and Washington, D.C. Rivian Insurance partners with Nationwide, Progressive, The Cincinnati Insurance Company, and their affiliated companies to provide insurance coverage throughout the U.S.
Methodology
Insurance.com works with Quadrant Information Services to field car insurance rates across all 50 states and Washington, D.C. Rates were fielded for all electric vehicles, including two Rivian models.
Unless otherwise indicated, averages are based on our full coverage data set. This data set is based on:
- Bodily injury liability of $100,000 per person and $300,000 per incident
- Property damage liability of $100,000 per incident
- Comprehensive and collision deductibles of $500
- 40-year-old driver
- Honda Accord LX
- Good credit
- A clean driving record
- 12-mile commute, 10,000 annual mileage
FAQ: Rivian insurance cost
Is Rivian Insurance cheaper than Tesla insurance?
Yes. The average annual cost of insurance for a Rivian is $3,376 vs. $4,419 for a
Tesla.
Does Rivian use telematics tracking to set insurance premiums?
Yes, Rivian uses telematics integrated into the vehicle and the Driver+ system to partially calculate insurance rates and discounts. Usage-based insurance allows drivers to earn lower rates and larger discounts for safe driving behaviors.
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