2024 Insurance Costs

[Jason71]

What question would you ask? Can you please lower my insurance Mr Churchill? I drive good, honest guv.
In seriousness it does feel like a mob gangster racket. "You need protection see... And we set the price."
Maybe we could lobby for public insurance -

Public auto insurance - Wikipedia

en.wikipedia.org

"Sir, the Tesla owners are revolting"

Yes. Except I don't say please.
I always call up after a renewal quote and complain its too high and they usually find a way to reduce it. If other companies have quoted lower already then you can definitely use that as a stick to beat them with. not only the lower price but If they know you have been to the trouble of getting other quotes they tend to believe you are serious and will leave.
at worst they will usually lower the price to what the competition is charging and at best go even lower. And it saves the hassle of actually moving companies
I find this works very well with Admiral. Not been with DL group so don't know about them.

pricing seems to be all over the place. I asked for a quote to upgrade my daughter from a provisional to a full licence and I was told an extra £900 for the remaining 9 months on the policy ( not a Tesla obviously) . Phoned back a week later when she actually passed to add her and try to negotiate a better price and they quoted £200 straight out of the box??? I bit their hand off and I have been over the docs with a fine tooth comb and all the information is correct.

 

[Rustybkts]

Direct line were £625 last year and wanted £1,030 this year.

Haggling and minor changes plus adding a driver lowered it to £850 but very similar from LV which included European cover (not on DL) is £720.

 

[yessuz]

just had to reduce my annual mileage on the insurance down to 18k miles a year and just managed to hit 900 mark on my premium with Peugeot/Stellantis insurance.

cheaper one was just GoSkippy and esure but not that much more less that I would bother to change insurers, especially when Peugeot is not insuring teslas anymore

LV quoted me just a bit above 1700 DDD

 

[Foxsbiscuits]

ByMiles explained they wouldn't insure my car because -

This is due to its value, the power of the engine and how attractive it is to thieves.

I said it's nice to know I'm not the only one who finds my car attractive.
What do thieves do with a Tesla? Am I being overconfident in thinking my car is pretty much theft proof? I mean the other day it doubted whether even I could drive it, a message came up mid-drive saying phone key disconnected, unable to restart if you park!

 

[Whyone]

What's your limit then? When it doubles? Trebles?
Or is there no limit..just pay it..no questions asked?

Would you like to buy some magic beans?

As I said earlier, if the insurance gets really to expensive, change to a car that's cheaper to insure.

Seems a more pragmatic solution to me than yours....

Incidentally both my (M3 LR) and my son's (M3 RWD) premiums fell when renewed aver the last couple of months, so it's not all one way traffic.

 

[Jason71]

ByMiles explained they wouldn't insure my car because -

I said it's nice to know I'm not the only one who finds my car attractive.
What do thieves do with a Tesla? Am I being overconfident in thinking my car is pretty much theft proof? I mean the other day it doubted whether even I could drive it, a message came up mid-drive saying phone key disconnected, unable to restart if you park!

As far as we know theft of M3 and MY is very rare right now . but if they were stolen then stripped for parts I would say.

 

[MrBadger]

Anyone know the state of Teslas insurance rollout in this country? A few years ago they were recruiting for insurance staff based in UK but I’ve not noticed any reference since.

 

[Foxsbiscuits]

Anyone know the state of Teslas insurance rollout in this country? A few years ago they were recruiting for insurance staff based in UK but I’ve not noticed any reference since.

Looks like they've just partnered with Direct Line over here, official Tesla links go there.

 

[KennethS]

Looks like they've just partnered with Direct Line over here, official Tesla links go there.

It’s been that way for many years. Nothing new. But there were signs that Tesla planned to get its own insurance business setup in the UK.

 

[Adopado]

ByMiles explained they wouldn't insure my car because -

I said it's nice to know I'm not the only one who finds my car attractive.
What do thieves do with a Tesla? Am I being overconfident in thinking my car is pretty much theft proof? I mean the other day it doubted whether even I could drive it, a message came up mid-drive saying phone key disconnected, unable to restart if you park!

It’s not due to theft. Last info I read suggested that it was a tiny number.

 

[Tony Hoyle]

Last time I saw any stats telsa weren't even in the top 10 stolen EVs let alone top 10 stolen cars.. It's all about cost of repair. You can wait months for the right parts and the costs of courtesy cars to insurance companies is insane - plus the insurance companies are quick to write off any EV if they think the battery might have been affected.

 

[kelvin 660]

Last time I saw any stats telsa weren't even in the top 10 stolen EVs let alone top 10 stolen cars.. It's all about cost of repair. You can wait months for the right parts and the costs of courtesy cars to insurance companies is insane - plus the insurance companies are quick to write off any EV if they think the battery might have been affected.

And the number of uninsured cars on the roads these days. You are affectively paying their insurance as well...

 

[Js1977]

And the number of uninsured cars on the roads these days. You are affectively paying their insurance as well...

With most people reporting a near double increase and indeed media reports suggesting 40% rises that would make a 1 in 2 people out there being uninsured.

But of course this would be an exaggeration as its only a contributing factor.

There have been a few floods around and many cars written off. On top of that, you only need to go on youtube and see how many silly people drive through Fords and perish. Ironically, Im yet to see an electric car get stuck in these cases.

However, we are talking about one year of disasters and Im sure the shareholders are seeing a return... Wouldn't be so bad if they offered interest free payments...

 

[AndyWarrington]

Oddly I got an email from CTM this week saying my quote now would be £849 - I couldn't get it below £1K in Dec when it was due
Looks like the market is changing/realigning again
Admiral, who I ended up going to, are now offering it £100 cheaper, I think I'll give them a call & see if I can get a refund... Likely I'll get nobbed off but you never know

 

[Adopado]

2019 £231.84

2020 £239.68

2021 £225.12

2022 £249.69

2023 £397.81

The big change was last September for me…. It actually went down in 2021.

 

[Kansalis]

Small tip for anyone using comparison sites - They are not all the same. I used to find that quotes from one comparison site to the other were almost identical. It seems this is no longer the case. CTM gave me a quote of £696 from Admiral but GoCompare gave me £883 from Admiral with the exact same details and same policy.

I guess we now need a comparison site comparison site...

 

[Foxsbiscuits]

2019 £231.84

2020 £239.68

2021 £225.12

2022 £249.69

2023 £397.81

The big change was last September for me…. It actually went down in 2021.

Am I missing something here? I could barely get those premiums for my fourteen year old Fiesta.
Genuinely stunned.

 

[Tony Hoyle]

Maybe that's monthly

 

[Jason71]

Small tip for anyone using comparison sites - They are not all the same. I used to find that quotes from one comparison site to the other were almost identical. It seems this is no longer the case. CTM gave me a quote of £696 from Admiral but GoCompare gave me £883 from Admiral with the exact same details and same policy.

I guess we now need a comparison site comparison site...

I noticed this.
When shopping for my daughter last year MoneySupermarket seemed cheaper than GoCompare.
I imagine they all have to take the information you enter and map it to the individual insurers API. If they do it slightly differently it could make big differences.
What would be "interesting" is to click through to admiral in each case and see if the information showing at that end is the same? if it is then GC are getting a big kickback but I suspect you would see differences in what has been recorded. Its always important to go over the info at the insurer end when using these sites. They do make mistakes when passing the info across.

 

[Pink Duck]

It’s why you are advised to check with as many comparison sites as you have time for and in a recommended order to maximise market coverage and kick-back referral rewards specific to some but not others.