will_wonka
Member
Savage.You haven’t seen nothing until you get your cheapest quote at £2,240 for only 6K miles. (With a SR+)
You'd think DL would be super keen for business in light they have partnered with Tesla
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£500 SR+ M3 insurance hike?!?!?
- Thread starter Blueskye
- Start date
You'd think DL would be super keen for business in light they have partnered with Tesla
£19k ?! WowI wish I could! Direct Line it’s still the cheapest despite the price hike!!!!!
It’s so frustrating.
Here is another gem from another comparison site.
£7.8K
£11K
£19K
I know!
but the other thing is since the quote is from them and they usually are the cheapest... there’s nowhere else to get a cheaper one from!
So if they say £3K next year I’ll still have to pay up as there’s no other way... everyone else will always be much pricier!
Billbrown1982
TM3 LR 2021 | Red | FSD
Ugh bloody insurance. They are using Covid etc etc as an excuse for yet another price hike this year. Yet how many actually gave us discounts or money back because our cars were parked up all year?
Won't help you but rumours are Tesla's own insurance might be taking a step closer to fruition, at least in Germany. Maybe they will venture over here one day - although no guarantees it will actually be any cheaper.
Won't help you but rumours are Tesla's own insurance might be taking a step closer to fruition, at least in Germany. Maybe they will venture over here one day - although no guarantees it will actually be any cheaper.
But.. Car insurance sees biggest price drop in six years
Which seems to me that although you'll see some variation the averages should be dropping, even for Teslas.
Which seems to me that although you'll see some variation the averages should be dropping, even for Teslas.
I received notification from Tesla that I have to make the final payment and collect the car all within 5 days of an end of quarter Tesla push in 2019. I did an insurance quote via Tesla's link to see what the insurance premium would be and it was cheaper than the quote DL gave me when I phoned them to see if I could get a better quote and to get the Model 3 insured for collection day.
My first year's prorated insurance via Tesla's link was less that £350 whereas over the phone quote was slightly over £500. Last year's insurance was just over £850 with DL which was cheaper than the quotes from comparison sites I used.
With everything being the same, the cost of insurring my Model 3 has been going up.
this year I'll be paying less for my insurance too
.Looking at your PP, it seems your M3 is wrapped. That’s likely what’s hiking up the premium cost. It’s not that it’s expensive, but more that you’re being barred from lower rates (and brands/companies) due to an underlying factor. (Modifications)
Would be worth getting on the phone with a few providers, like Churchill, LV and do a quote there.
If the wrap is a company wrap, make sure they note that.
I recently tried to get a spoiler added to my LR M3. Churchill threatened to cancel my whole policy as they don’t cover any external modifications on the M3
Would be worth getting on the phone with a few providers, like Churchill, LV and do a quote there.
If the wrap is a company wrap, make sure they note that.
I recently tried to get a spoiler added to my LR M3. Churchill threatened to cancel my whole policy as they don’t cover any external modifications on the M3
Thanks!
That’s not actually my M3 that’s a cool MS that I liked and used the picture of
My M3 has no wrap..
Honestly this “modification” thing is total crap... I just don’t get it! What’s the difference to them if I put a sticker on the car?!
I actually have vinyl number plates after removing the standard... but haven’t told them about that yet... didn’t realise it was a thing?!
(do I also need to tell them that the Tesla emblem has a sticker on top making it red rather than silver? )I’ll actually try and requote using that..! I now remember that’s how I got a decent price last time! By ringing the special number!I received notification from Tesla that I have to make the final payment and collect the car all within 5 days of an end of quarter Tesla push in 2019. I did an insurance quote via Tesla's link to see what the insurance premium would be and it was cheaper than the quote DL gave me when I phoned them to see if I could get a better quote and to get the Model 3 insured for collection day.
My first year's prorated insurance via Tesla's link was less that £350 whereas over the phone quote was slightly over £500. Last year's insurance was just over £850 with DL which was cheaper than the quotes from comparison sites I used.
With everything being the same, the cost of insurring my Model 3 has been going up.
I did the same and saved about £60 on the renewal price..its well worth doing.I received notification from Tesla that I have to make the final payment and collect the car all within 5 days of an end of quarter Tesla push in 2019. I did an insurance quote via Tesla's link to see what the insurance premium would be and it was cheaper than the quote DL gave me when I phoned them to see if I could get a better quote and to get the Model 3 insured for collection day.
My first year's prorated insurance via Tesla's link was less that £350 whereas over the phone quote was slightly over £500. Last year's insurance was just over £850 with DL which was cheaper than the quotes from comparison sites I used.
With everything being the same, the cost of insurring my Model 3 has been going up.
will_wonka
Member
After spending a few hours 'tinkering' last night on various websites and changing criteria at a micro level, I've got it more or less around £850-950 which is still high but better than the 000's others are being asked to pay. Out of all the providers, I THINK Churchill are the better ones????
Next issue will be I won't get the car in time and within the 30 days quotation time
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| £881.54per year |
| £895.19per year |
Next issue will be I won't get the car in time and within the 30 days quotation time
Rooster6655
Active Member
Yes similar here, the problem we have is a lot of insurers not insuring the car so those that may give us good prices on other cars won't insure the Model 3 so there is less competition and comparisons.
I can insure a Model S P100D 40% cheaper than Model 3 (Any) make no sense but until all the insurers are on board for model 3 then its going to continue being a joke. Granted more insurers might be adding the model 3 since I last checked but 6 months ago it was pants.
My LV renewal was 30 quid more than last year, which was a bit of a pest as i'd run a quote on sat which had it £130 less with 2 days overlap... In the end, I went with direct line which was £100 less than last year. So it pays to shop around and strike while the iron is hot close to renewal time..
Well, yes, it does make a difference.Thanks!
That’s not actually my M3 that’s a cool MS that I liked and used the picture of
My M3 has no wrap..
Honestly this “modification” thing is total crap... I just don’t get it! What’s the difference to them if I put a sticker on the car?!
I actually have vinyl number plates after removing the standard... but haven’t told them about that yet... didn’t realise it was a thing?!
Insurance co's have this down to a science. They have mountains of data and everything is priced for the risk it presents according to historic claims. Their actual profit margins are relatively low, none of it is a "scam", it is a highly regulated industry.
Those modifying cars with stickers, bigger alloy wheels, performance upgrades are more likely to have accidents as a statistical group.
It's not dissimilar to the discount generally seen by renewing 21-25 days before insurance expiry (on average). Those people, as a statistical group, experience lower claims. Maybe that's because they are highly organised and therefore more careful. We don't need to know the reason. But as a group they have less claims so the premiums are cheaper.
Each underwriter prices the risk differently, based on their own historical claims and also the risk profile of their insurance "book" they currently have or desire to have in the future. This is why one insurance company might quote £500, and another £5000. Or another £20,000 - their risk model does not want the business unless the risk/reward from a financial standpoint is firmly in their favour.
It is always seen as "unfair" by most. Everyone just wants the cheapest premium possible and never sees themself as a risk.
I had an uninsured driver crash into my parked car recently. Not my fault at all. My premium just went up 30%. Because those making claims, are historically, more likely to make a subsequent claim in the future. So I am now a higher risk and I pay more. It doesn't feel fair but unless they invent a time machine, I'm not sure of a better way of pricing it.
Pink Duck
Active Member
Give Aviva a try, it was the cheapest for me this year, £433 for up to 8,000 mi in 3-year old S with 3 claim/accident and the last one of those still annoyingly unsettled from third-party front-end in December thus 3-year NCD (actually 17). Privilege renewal was £603.81 and they wouldn't budge.
john19951
Member
I am still waiting for my car (my choice), and this thread prompted me to update the last quote I was given in Feb 2021.
In Feb 2021 Churchill was £428 for an M3LR. Churchill quote today is £646 - over 50% more in just two months.
Seems the the £646 quote I was given today is more in line with other quotes here, but strange there should be such a large increase in a short time.
In Feb 2021 Churchill was £428 for an M3LR. Churchill quote today is £646 - over 50% more in just two months.
Seems the the £646 quote I was given today is more in line with other quotes here, but strange there should be such a large increase in a short time.
Kennytango
Member
For those who don’t know, Churchill Insurance offers a 5% discount if your Tesla has Autopilot. Obviously a lot of the newer models has Autopilot as standard now.
Only downside is that you have to call them up, so I would recommend using a comparison site first with a ref code to save time. Tell them to ask their supervisors if they are not aware of it as some of the staff don’t know about the Tesla discount.
Only downside is that you have to call them up, so I would recommend using a comparison site first with a ref code to save time. Tell them to ask their supervisors if they are not aware of it as some of the staff don’t know about the Tesla discount.
Similar story to me. Cheapest quotes from end of last year (when I first considered a Tesla) were around £400 (Direct Line) - now mostly coming in at over £600, and vast majority well into the £1000s. Eventually got Admiral Multicar with the good lady’s Juke (£750 in total, £504 for the Tesla (M3LR) and £248 for hers). Tried Adrian Flux and just about everywhere I can think of but nowhere got close for the M3. Worryingly, at first, the 2 cheapest quotes both wanted me to fit a telemetry box - I’ve got nothing to hide but at 47 there was no way I was going down that route.
