Rivian Auto Insurance Review: Should you buy in 2024?

Rivian is a new electric car start-up company introducing its first fleet of vehicles to customers in late 2021 and early 2022. Rivian Auto Insurance Company was created to provide affordable auto insurance rates for Rivian vehicles.

Currently, the company sells two fully electric vehicles, the R1T truck and the R1S sport utility vehicle (SUV). Auto insurance rates for similar cars cost $225 per month or $2,700 on average.

Below, discover how to request a quote for Rivian auto insurance, learn about insurance bundles, and read about the claims process as well as financial ratings and customer reviews for this new electric car start-up.

After learning how to buy Rivian auto insurance, remember to enter your ZIP code into our free quote comparison tool above to compare rates from the best companies in your area.

What is Rivian auto insurance?

Rivian is a new car manufacturer that focuses on adventuring, sustainability, and technology.

The Rivian Automotive group created Rivian Insurance Services LLC. to provide affordable auto insurance rates for people who own Rivian vehicles.

However, Rivian vehicles are only just starting to appear on public roads. The company is currently in the process of shipping its first round of cars to customers.

Rivian auto insurance is currently available in 48 states and technically offers coverage for other vehicle makes and models.

You must own and insure at least one Rivian vehicle to qualify for a policy.

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How do you get a Rivian auto insurance quote?

How do you apply for a Rivian auto insurance quote? You must call or email the company directly and speak with an insurance advisor. Customer service is available only on weekdays from 7 a.m. to 7 p.m. central time.

An insurance representative works directly with you to create a policy specifically designed for how you use your Rivian vehicle and any other household cars.

The brand explicitly focuses on combining a sense of adventure with sustainability and technological advancements.

A customer portal already exists on the website, but a mobile app will likely be available to Rivian insurance customers as well.

You can purchase most traditional auto insurance types from Rivian, including the auto insurance coverages required by your local and state laws. But, currently, Rivian auto insurance rates are not publicly available.

According to the website, drivers may save up to 15% by utilizing the Driver+ Highway Assist feature that comes standard on Rivian vehicles.

The website also states that Rivian purposefully partners with the leading auto insurance companies to offer drivers more informed and affordable rates.

So in 2021, the group partnered with Nationwide Auto Insurance Company.

However, Rivian works with other third-party insurance companies, including The Cincinnati Insurance Company and its affiliates.

So your Rivian auto insurance policy may be underwritten by Nationwide, The Cincinnati, or any affiliated subsidiaries.

The ultimate goal of Rivian is to provide electric car drivers with insurance coverage that better understands the lifestyle and technology associated with the companies branding.

By partnering with companies already established in the insurance industry, Rivian creates a collaborative relationship between manufacturer and insurer, paving the way for other electric car manufacturers.

How much does Rivian auto insurance cost?

Rates from Rivian Auto Insurance Company are not currently known. The company is too new, but more information may be known as more customers receive their trucks and SUVs.

However, the average cost of auto insurance for the Tesla Model 1, a similar electric vehicle, is about $225 per month or $2,700 annually.

One of the primary goals of the Rivian Auto Insurance Company is to offer cheaper rates to Rivian drivers.

So you can also speak with an insurance advisor to see how the safety features on the R1T and R1S may lead to insurance savings.

How do you file a Rivian auto insurance claim?

To file a Rivian auto insurance claim, access the online customer portal or mobile app if one is available to you.

You can also call an advisor directly if it’s within business hours.

If possible, take photos at the scene of the accident. According to the website, the company uses trained mechanics familiar with Rivian parts.

As the company continues to learn and improve its technology, it’ll apply those advancements to your vehicle repairs.

Nationwide and The Cincinnati underwrite most Rivian policies. Fortunately, both companies’ customer reviews of the claims processes are relatively positive, although Nationwide performs slightly better.

Ultimately, this suggests that the claims processes through Rivian Insurance should also be smooth and reliable.

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What discounts does Rivian Auto Insurance Company offer?

A complete list of auto insurance discounts from Rivian Insurance is not currently available. However, the website does advertise stackable discounts and insurance bundling.

For example, bundling your home and auto policy through Rivian could lead to a 20% discount on your policies.

Of course, you can also receive up to a 15% rate reduction for using the Driver+ Highway Assist feature. On select highways, it automatically adjusts your:

• Steering
• Brakes
• Acceleration and deceleration

Because of Rivian’s close connection to Nationwide and The Cincinnati, it may also offer the same discounts available from those two companies.

So look for car safety discounts, customer loyalty discounts, anti-theft discounts, membership or group deals, and rewards for safe driving or other responsible choices.

Speak with a Rivian insurance representative for more details about potential discounts.

What are Rivian auto insurance ratings and reviews?

Rivian auto insurance is so new that it doesn’t have many customer reviews or financial rankings. Plus, not all of the vehicles have been delivered to all customers yet.

Instead, let’s look at Nationwide reviews, as the company underwrites most of the auto policies for Rivian.

Nationwide received the following scores from the top financial rating agencies:

• A. M. Best: A+
• Moody’s: A1
• Standard & Poor’s: A+

These high rankings suggest that you can trust Rivian to close out any claims efficiently and appropriately, even in an economic downturn.

When it comes to customer experience, Nationwide has a complaint index of 2.23, according to the National Association of Insurance Commissioners (NAIC). This suggests Nationwide receives more complaints than average.

But it’s very typical for insurance companies to receive primarily negative reviews online. So be mindful of this trend when looking at online customer reviews.

What is the history of Rivian?

Rivian was founded in 2009 by CEO Robert Scaringe. It is currently an independent company privately owned by shareholders.

Scaringe purposefully kept Rivian out of the public eye while he attempted to do for trucks what Tesla did for luxury cars.

Without ever selling a vehicle, he raised over $1.7 billion for the company. The funding then increased through investments from companies like Amazon and Ford Motor.

The company acquired a former Mitsubishi manufacturing plant in Normal, Illinois, back in 2017. By the end of that year, Rivian was producing alpha prototypes.

However, the first fleet of Rivian vehicles started to ship to customers at the end of 2021.

To prevent Rivian drivers from receiving high insurance rates like many Tesla drivers experienced, the company created Rivian Insurance Services.

While Nationwide and The Cincinnati underwrite most policies, Rivian insurance policies also cover off-roading, as adventuring is a primary focus of the Rivian company. Plus, it covers specific Rivian accessories.

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What vehicles does Rivian sell?

Rivian sells the R1T electric truck and the R1S electric SUV with three available equipment packages. The packages include the Launch Edition, Adventure Package, and Explore Package.

The Launch Edition is technically a special version of the Adventure Package to celebrate the first launch of vehicles. Reservations for this package are currently full.

Deliveries for the Adventure and Explore Packages take place in January 2022.

Sustainability was a primary concern with both the R1T and R1S. As a result, the interiors are made of animal-free materials intentionally made to be recycled when the vehicle is retired.

The vehicles’ batteries are also made to be easily removable and are either recycled or used in other second-life applications.

In the table below, compare the specifications of both the truck and SUV in more detail.

Rivian Vehicle Details by Model

Interestingly, tire size impacts the efficiency of Rivian vehicles. For example, the SUV and truck see a 10% to 15% range reduction with 20-inch wheels. Similarly, 22-inch wheels lead to a 5% to 10% range reduction.

Finally, Rivian Driver+ comes standard on every model manufactured by the company. Driver+ is an advanced, hand-free driver assistance program.

It features 11 cameras, five radars, 12 ultrasonic sensors, and provides you with a 360-degree field of vision.

When engaged, it can adjust your speed, steer your car, and even change lanes at your command.

Later on, Rivian plans to release two additional R1Ts that reach 250 miles and 400 miles on a single charge, plus another R1S that also gets 250 miles.

Does Rivian offer other insurance plans?

According to the Rivian website, you can also purchase home, boat, camper, and other vehicle insurance along with your auto insurance policy.

You can also insure other cars under your auto policy, but you must own and cover at least one Rivian model.

Nationwide and The Cincinnati will also underwrite the other insurance products. However, the availability, discount amounts, and offerings vary by state.

You can see what other insurance lines are available to you when applying for a Rivian auto insurance quote.

Rivian Auto Insurance: The Bottom Line

Rivian is so new to the industry that not all customers have received their vehicles yet. So we don’t know much about the Rivian insurance customer experience at this time.

Rivian hopes to provide its drivers with streamlined coverage using data and technology to inform policies designed explicitly for electric vehicles.

We’ll know more about Rivian and its insurance company as more customers receive and start using its electric vehicles.

Hopefully, you’ve learned everything you need to know about affordable Rivian auto insurance. Now find the best coverage for you by entering your ZIP code into our free rate comparison tool below.

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