The Tesla Cybertruck not only comes with a hefty price tag. It also has high insurance costs.
A a new report from insurance marketplace Insurify Full cover insurance for the electric truck was found to cost 45% more than the national average.
Insurify said the average Cybertruck driver pays $3,392 a year in insurance, compared to the national average of $2,336.
The high insurance costs are partly due to the high cost of the truck. The truck starts at over $80,000 and can cost more than $100,000 once customers add different trims and other add-ons.
Despite the high cost, Insurify found that Cybertruck premiums are actually cheaper than other Teslas (TSLA) models. The Model Y has an average annual insurance cost of $3,832 and the Model 3 has an average annual cost of $4,347, Insurify found. That's partly because Cybertruck Drivers tend to be older, which means they pay less for insurance on average than younger drivers of other models.
While the Cybertruck's design is certainly polarizing, more than 28,000 vehicles have been sold since Tesla unveiled the EV truck last year, Insurify reported. Still, the truck's introduction has been plagued by issues, with six separate recalls, including ones involving its backup camera and accelerator pedal.