If you haven’t scoped out the new Tesla Cybertruck, you should. With the recent announcement and unveiling, truck enthusiasts everywhere are weighing in with their sentiments. You may be an excited fan of the new Cybertruck and ready to pony-up the funds to have one in your garage. You could get an awfully expensive surprise though, and maybe even a little buyers’ remorse after the fact.

Is the Cybertruck expensive to buy?

You will find a variety of price points and standard equipment for this Tesla original. For around $49,900, you’ll have a more entry-level version, though it won’t feel like an entry-level truck. You’ll be able to enjoy a dual motor, AWD, and 300 miles of range. You’ll achieve 120 MPH as a top speed and go from 0-60 MPH in 4.5 seconds. Towing capacity is suggested to be around 10,000 pounds.

The more tricked-out varieties of the Cybertruck can have you reaching 500 miles in range, quicker 0-60 MPH take-offs, and 14,000-pound tow ratings. You’ll also be closer to $70,000 in price.

What other costs might surprise new owners?

In the past, Tesla has required some pretty hefty down payments to reserve vehicles for production and delivery. In the case of the Cybertruck, however, fans can stop holding their breaths in guessing how many zeros will be needed on those checks. Per the Tesla site, it will only cost you $100 to reserve your truck, and you can expect production to begin on your model late-2021.

If the reservation fee and low-end cost of the Tesla truck are well within your budget, don’t get excited just yet. What many consumers fail to factor in are other costs associated with ownership of their new vehicles. If you’re financing, of course you’ll have interest charges. For more readily available trucks from the top-selling automakers, you’ll have fuel efficiency to consider as well. Don’t forget about truck insurance either. The cost of plan premiums is often an extra budget concern that some consumers fail to consider when buying.

Cybertruck insurance might break the bank

MotorTrend recently interviewed top analysts with insurance.com for insight into projecting coverages and rates for these future Tesla beasts. Historically and generally speaking, Tesla vehicles are 67% more expensive to insure when comparing to national averages. We’re talking a difference of almost $2,000 annually. Based on this year’s cost of insurance for Tesla vehicles, analysts expect Cybertruck insurance to be slightly higher than the current $2,400-$3,000 range.

There is a roster of factors that contribute to the average cost of vehicle insurance. For example, standard safety features and crash test ratings can be cost-saving. For Tesla, safety features and the Cybertruck’s dent-resistant body panels can help reduce insurance premiums. However, that 3mm-thick stainless steel might be costly to repair after an accident. Also, the significant risk of damaging property and others in an accident can be huge. These concerns alone could outweigh any potential savings in safety equipment.

What about Tesla Insurance

Tesla Insurance is currently only available to California residents, but there are promises to roll out availability in other states in the future. We’re still not sure what Tesla Insurance would charge for Cybertruck insurance. They claim they can offer significantly lower rates because they have a deeper understanding of the Tesla fleet of vehicles. With an inside perspective on its own tech, safety, and repair costs, Tesla claims to offer up to 20% savings in coverages.

It will be hard to predict the cost of ownership for the Cybertruck. Until 2021, when production is slated to begin for those reserved models, we can only speculate. However, it’s always best practice to remind consumers to do their homework as they would with any new vehicle purchase. If a Tesla is in your future, be mindful of the Cybertruck insurance costs that might come with it.