I have done 3 leases.. The 2nd one I did my own insurance so you should be able to
Problem might be getting the $ back quickly as you need to pay first.
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Insurance is getting out of hand
- Thread starter raynewman
- Start date
Problem might be getting the $ back quickly as you need to pay first.
ah, so you needed to buy the yearly cover and then claim it back ? Sorry, Im so new to leasing I havent even started the lease yet, still waiting for my car to be delviered.
Yes.
You may just have to pay for it upfront yourself, and then claim it back and get reimbursed from your novated lease funds.
0xZoom
Member
ah excellent thanks for that. Sounds like it might be worthwhile. I'll start the lease off then investigate switching it over. Thanks guys
Midnight Man
Member
If you're buying your own insurance, see what extra it costs for choice of repairer.
I got badly hail damaged on 26-12-2023, and am with NRMA on Comprehensive Plus (same policy you are looking at).
After 7 interactions with people at NRMA who were guiding me this way then that, and 2 windscreen places that "Can't help you mate, it's a Tesla", finally on Friday 12 January, a senior claims assessor called me, and got the claim and repairs moving. Car had sat in the driveway under a tarp for 2 weeks >.>
It is now with Williams Bodyworks (Tesla approved body shop), but it took slightly more than 2 weeks to get this under way. First level call centre at NRMA just don't understand Tesla at all.
I had avoided the choice of repairer option because one often hears "It'll have to end up at a Tesla approved repairer anyway". Whilst that's turned out to be true, it took 2 weeks of sheer frustration, angst, and *hours* on the phone to get there.
Hardly worth it - get choice of repairer and call them up for immediate tow to your local approved shop in the event of an accident/claim.
Just my 2c. Life is often too short for fussing around (thankfully, I also have unlimited hire car on the policy, or I'd be out by thousands - something else to consider, irrespective of how good your claims record and driving is, it's always the unexpected that bites, and the hire car option was pennies on the dollar to add for my policy).
mrpseudonym
Member
Usual insurance runaround for my modelX annual renewal. No demerits, old guy, rating 1, etc etc .. NRMA 8.4k, 4 times a couple of the others. That really is F* off pricing
Oh yes thanks for that.
My initial quote I didn’t have “choose own repairer” selected and the quote was around $1600ish. But I noticed on my NL plan it specified choice of repairer, so to match that I selected it with NRMA and also the windscreen/sunroof cover and then the quote went up to the $1700ish amount. But still loads cheaper than the maxxia selected cover
mrpseudonym
Member
I say it every year, but insurance is Tesla’s achilles heel in this country. I don’t know what other EVs cost to insure, but this year when my wife heard the NRMA premium she said, “why don’t we just sell it..”
Repair costs cited as a reason Hertz is selling a large part of its Tesla fleet in the US
https://edition.cnn.com/2024/01/11/business/hertz-tesla-selling/index.html
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mrpseudonym
Member
My merc eqe is insured for 3 times the replacement cost of my model S. The premium was $20 less. Tesla clearly have a problem which needs to be addressed.
Best my broker could find this year was MB Insurance. They only do premium cars and happy to do a model S.
Our Nissan Leaf comprehensive insurance costs 7.0 cents per insured dollar, and our Tesla costs 3.0 cents per insured dollar.
And we have trouble insuring our Nissan Leaf for anything near its true value. According to the usual guides insurers use for “market value”, our 9-year old Leaf is worth only $15k. But those guides don’t take into account an EV might have a new $10k battery in it - which ours does. Even after 3 years, our new battery is still on 12 bars capacity, making it completely different to any other 9-year old Leaf that has an original battery in it.
I had to escalate this with our insurer to get them to budge on the insured value. After making a real stink, they finally agreed to increase the insured value to a still hopelessly inadequate $18k and made it very clear they would not go any higher regardless of the value of the battery.
”Accessories“ and “modifications” rarely if ever add 50%+ to the value of an ICE vehicle… but a new battery in an old EV will absolutely do that. And insurers can’t get their head around that at all. This will be a growing problem.
I recently started my 5th year of ownership and NRMA reduced my max sum insured to an unacceptable amount (no claims) and increased my premium by 17%. For me Apia had a much higher sum insured ($78k) with a premium lower than the others.
You must be in a very risky area. That is substantially more than I pay, more than double.
mrpseudonym
Member
Postscript.. after contacting about 8 insurers ended up getting a new policy with the existing insurer. Note I said “new policy”. Their offer to renew came in at $500 more expensive than going and getting a new policy. Just for anyone out there who doesn’t know this already (surely no one) There is absolutely no reward for loyalty these days, in fact you get punished. There really should be some kind of consumer protection here. If you are buying a widget, the cost of that widget should be the same, regardless whether you are a new or existing customer.
<<rant over>>
Good point…sorry I should have noticed that. Mine is a “slow” 75d.
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