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Insurance. It is that time of the year again.
- Thread starter Dborn
- Start date
lonewolf313
Member
I have seen lots of photos of front or side collisions in Aust. where it looks like the Model S or X could have been repaired but it had been declared a total loss by the insurance companies. Why ? ? ?
Perhaps there are very few authorized Tesla Repair Shops in Australia and insurance companies take the easy route and declare a total loss instead of repairing these vehicles.
With insurance losses of $100K to $250K to recoup, no wonder the insurance renewals have gone through the roof in the last 12 months.
Back in 2010, It took me 20 days with the help of my panel beater to convince my insurance company to declare my 8 year old Toyota Echo (which was only insured for $9K) a total loss after they originally declared it repairable after it was hit by a P Plate driver running a red light.
I may have to adopt a wait and see with insurance costs when the Model 3 hits our shores towards the end of the year before I can commit to a purchase. A higher than predicted insurance cost just because it is a "Tesla" may thwart my purchase due to affordability concerns.
Perhaps there are very few authorized Tesla Repair Shops in Australia and insurance companies take the easy route and declare a total loss instead of repairing these vehicles.
With insurance losses of $100K to $250K to recoup, no wonder the insurance renewals have gone through the roof in the last 12 months.
Back in 2010, It took me 20 days with the help of my panel beater to convince my insurance company to declare my 8 year old Toyota Echo (which was only insured for $9K) a total loss after they originally declared it repairable after it was hit by a P Plate driver running a red light.
I may have to adopt a wait and see with insurance costs when the Model 3 hits our shores towards the end of the year before I can commit to a purchase. A higher than predicted insurance cost just because it is a "Tesla" may thwart my purchase due to affordability concerns.
baillies
Member
I am not sure if it is because there are not many repair shops that work with Aluminium so this reduces the competition. Tesla also being slow with parts probably also doesn’t help ie repair quote is higher due to assuming the car will be tying up space for a long time and else extra enquires over a longer period, also insurer will factor in longer rental car times.
I hope the Y has more/all steel panels and even adding more steel to the 3 may help. S was designed to work, 3 was designed for easier manufacture, hopefully future cars are designed to also be easier to repair.
If insurance is $1000K more than a comparable car for the model 3 this is a significant part of the total lifetime cost in the 20 year life of a car.
I hope the Y has more/all steel panels and even adding more steel to the 3 may help. S was designed to work, 3 was designed for easier manufacture, hopefully future cars are designed to also be easier to repair.
If insurance is $1000K more than a comparable car for the model 3 this is a significant part of the total lifetime cost in the 20 year life of a car.
mrpseudonym
Member
Ok, so the conclusion to my insurance saga, for anyone who is interested..
DontInsureMyTesla pricing .. year 1 $2096.. year 2 $2887..that’s a 38% increase, and a move from agreed value to market..that I sucked up. The renewal offer this week was $4169.. that’s a 99% increase from year 1. Robbers. I don’t see how they should keep the InsureMyTesla brand.
Anyway, a shout out to Famous Insurance (RACQ are the underwriters) who offered a better deal. Still too expensive proportionally to the value of the car, but better than DontInsureMyTesla
DontInsureMyTesla pricing .. year 1 $2096.. year 2 $2887..that’s a 38% increase, and a move from agreed value to market..that I sucked up. The renewal offer this week was $4169.. that’s a 99% increase from year 1. Robbers. I don’t see how they should keep the InsureMyTesla brand.
Anyway, a shout out to Famous Insurance (RACQ are the underwriters) who offered a better deal. Still too expensive proportionally to the value of the car, but better than DontInsureMyTesla
I wonder if tesla lose any sales by referring their ‘affiliated’ over priced broker pretending to represent tesla?
Oz Will
Member
We have clicked over into year 3 of Model X and we're told last week that QBE (had been behind Marsh/InsureMyTesla) is no longer insuring Model X - we have not made a claim - on X or anything else - in years. We've gone to RACV (should have done so last year, but back when we got our X in Jan/Feb 17, QBE was the only insurer offering coverage on X of the main ones - others I tried in Vic didnt know what an X was - mind you there were none in the country until we got ours, so I felt a degree of loyalty last year given they did 13 months in year one as a special, etc). Anyway, for those coming up to the end of year two in coming months, the heads up may be useful.
malcolmpurvis
Member
Oz Will
Member
I've not and the Dawes requirement for a locked garage vs carport, etc (carports expressly excluded) meant we did not qualify (according to what was sent it didn't seem to matter that the carport is behind a locked gate, fence, etc, so seemed like they weren't all that customer focussed). Anyway, maybe they will be cheaper as a result. Will be interesting to see.
malcolmpurvis
Member
I noticed the no-carport or driveway requirement when filling in the quote. I thought it might have been a feature of my location (near Olympic Park in Sydney), so I'm somewhat pleased to learn that it's a universal requirement. Alas my Model X lives on our driveway, so I doubt I'll be covered by Dawes.
I already have a $5,900 quote from the NRMA (with a $2,000 excess) and I've contacted Shannons.
Are there any other insurance options in Sydney?
I already have a $5,900 quote from the NRMA (with a $2,000 excess) and I've contacted Shannons.
Are there any other insurance options in Sydney?
rohan_aus
Member
Send an email to Alex from the Tesla group, he just got me a policy for $1700 with $2200 excess, which was crazy cheaper than everyone else!
If you send him your current insurance paperwork, he'll get a quote for you, his email is: [email protected]
EcoCloudIT
Active Member
I am paying $25 less per month, $200 less excess with 1 free windscreen per year (not effecting claim history) on an agreed value of $115,000...maybe your car has an agreed/market value more than mine?
I am using RACV for both our Tesla's....same deal on my wife's Model X 75D with new for old in first 2 years (less than 6 months old) and she's paying $2 less per month than me!
malcolmpurvis
Member
Where does the policy come from? Who is the underwriter? It's worth cancelling mine and re-insuring with them!
Other details eg agreed value and Model year?
rohan_aus
Member
Underwriter is Vero Insurance via Alex (a broker). Agreed value of $120,000, 2017 Model S 75, actually a $2000 excess, not $2200 sorry! Includes hire car after accident, free windscreen replacement and choice of repairer.
Also considering my age (27), this is by far the cheapest quote I've gotten.
Icey
Member
EcoCloudIT
Active Member
Icey
Member
Nope
This endorsement shall not apply whilst your vehicle is in the custody or control of a member of the motor trade for maintenance or repair or of a hotel or restaurant car park or similar organisation for parking.
Yes that means you arent covered if a valet or service person damages your car. It doesnt exclude you parking it yourself. Custody or control are the key words, and its all the same sentence. Those businesses carry their own insurance.
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