Insurance New Vehicle [2021 Megathread]

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Renewal time.

Insurance + protected no claims (9+) + legal expenses.

When I got my car in September I did a new LV quote which came to £350/year. My LV insurance didn't renew until December so I've only just (today) received their renewal quote - £550/year! In hindsight it would have been cheaper to cancel and renew then, rather than topping up to cover the last few months.

Peugeot and Churchill both came in around £350, so I've gone with Churchill as they have a lower excess and also lower windscreen excess.

Definitely worth shopping around for Tesla insurance.

 

[Lord Farquad]

I wonder if the reason is 'keyless' entry . . . . . I am on a local community forum website and EVERY day there's a reports of theft of a 'keyless' car and they all say that they had the key in foil or in the microwave or some special fob. I'll bet money that the reason this Tesla is more expensive than a Porsche Macan S is because of the keyless entry. (They are also going door to door taking off the 'ring' door bells).

During 2021 I believe only 1 Model 3 has been reported stolen in the UK. They appear to be a very secure car.

 

[mesh1o1]

During 2021 I believe only 1 Model 3 has been reported stolen in the UK. They appear to be a very secure car.

probably know that if they are able to steal it they won't get far with all the cameras inside and out and probably thinking once it's parked up and sentry mode active you'll see where they are.. better yet, login to an app and find where it's parked.. probably too much of a headache to steal!

 

[Lord Farquad]

probably know that if they are able to steal it they won't get far with all the cameras inside and out and probably thinking once it's parked up and sentry mode active you'll see where they are.. better yet, login to an app and find where it's parked.. probably too much of a headache to steal!

Yes, plus the Bluetooth technology used as phone key is completely different to the signal tech of most car keys. The kit they use to “grab and clone” your standard car key signal just doesn’t work.
I think the only way they’d steal a M3 would be to low loader it to a location, then break it for parts. This isn’t most car thieves MO.

 

[Forty_Two]

During 2021 I believe only 1 Model 3 has been reported stolen in the UK. They appear to be a very secure car.

That may be the case but I suspect that the insurance company simply has boxes to tick and the 'keyless' box is not a good one to have ticked.

 

[Adopado]

That may be the case but I suspect that the insurance company simply has boxes to tick and the 'keyless' box is not a good one to have ticked.

Perhaps it's the companies that are on the ball with regard to this issue who are giving the lower quotes on Teslas. (I suspect many companies will be aware by now ... but it could well be, as you suggest, that their tick box systems haven't necessarily caught up.)

 

[HenryT]

Perhaps it's the companies that are on the ball with regard to this issue who are giving the lower quotes on Teslas. (I suspect many companies will be aware by now ... but it could well be, as you suggest, that their tick box systems haven't necessarily caught up.)

Good point.

That may be why Peugeot as a new entrant are offering such keen rates; in part to gain market share but also because they have a better understanding of the theft 'risk'?

 

[Forty_Two]

Is it the case that it costs more to insure EV's (this EV) than ICE cars?

I am currently with LV and last May I paid £770 for a Porsche Macan S AND a Mercedes SLC. I have just (out of curiosity) run the M3 LR through Compare the Market and LV came up as £760 just for the M3. Odd !!

Peugeot comes up at £330 - less half of what LV quote (and includes genuine Peugeot parts) !! Feels a bit bizarre insuring a Tesla with Peugeot!

 

[Forty_Two]

Peugeot comes up at £330 - less half of what LV quote (and includes genuine Peugeot parts) !! Feels a bit bizarre insuring a Tesla with Peugeot!

Peugeot Insurance is underwritten by U K Insurance Limited whose main subsidiaries are Direct Line and Churchill . . . . the quote for me with Direct Line was £760 !!!! Bizzare !!!

 

[MrBadger]

I wonder if the reason is 'keyless' entry . . . . .

No evidence that I have seen that current Tesla implementation of keyless entry is not secure.

More likely that a significant reason is that currently EV's are often much more expensive to repair and (particularly with Tesla's) the car can be off the road for much longer periods of time (sometimes months waiting on a part) leading to higher hire care costs.

 

[nkajkmuk]

Wild differences in EV insurance quotes. Comparison site not less than £1500, my current insurer Aviva (£1500+), Direct line £1000, Peugeot £500. Not sure what Peugeot's underwriters are smoking, but I like it. Hopefully, it will stay the same when it comes to actually insuring once I get the Reg number.

 

[JaseW]

Churchill is coming up quite cheap for me now, only £514 which is good for a London address. Weirdly £500 cheaper than a week ago. Maybe 20-25 days before seems to be the best time.

I’ve saved the quote (it lasts 30 days) and I just need to call them with the reg when I get it.

Those of you collecting end of this month it’s worth trying atm.

Do let us know if they honour the price once they have the registration, or if they re-quote then with 1-day to go rate adjustment.

I have an update on this.
I spoke to Tesla today to get my reg early, they sent it me pretty soon after. I then rang Churchill with the quote ref and they sorted it and honoured the price. I threw in the green flag breakdown as well as it didn’t cost much.

The fact that I got my reg the same day didn’t seem to cause any issues.

So I’m ready to go for pick up day now

 

[nkajkmuk]

Question: I do have a private plate on a certificate that will go on the car as soon as I get it. Could I use that as the Registration to buy insurance? OR Is it better to know what the car's first registration number is and then swap to private?

 

[Lord Farquad]

Question: I do have a private plate on a certificate that will go on the car as soon as I get it. Could I use that as the Registration to buy insurance? OR Is it better to know what the car's first registration number is and then swap to private?

The websites won’t recognise your private plate until you add it via the Dvla. Which you can’t do until you have the V5 for the new car. A broker might be able to do it in advance.

 

[Forty_Two]

Peugeot comes up at £330 - less half of what LV quote (and includes genuine Peugeot parts) !! Feels a bit bizarre insuring a Tesla with Peugeot!

Peugeot Insurance is underwritten by U K Insurance Limited whose main subsidiaries are Direct Line and Churchill . . . . the quote for me with Direct Line was £760 !!!! Bizzare !!!

 

[JonB]

Another market beating quote from Peugeot for me. With a £750 excess and protected NCB I was quoted £266 and they confirmed on a call that the towbar I specified made no difference and neither does PPF (should I choose to do it). Churchill were cheapest on Meerkats but still £383 with £800 excess. No contest!

For reference, I'm a middle aged homeowning git with a gazillion years of NCB which I protected. Wife as named driver (she's same as me WRT driving history).

 

[realityagain]

Insured through Peugeot Insurance over the phone (business car insurance), they had no issue with it being a Tesla - and was by far the best deal I've seen due to my age and the fact it's a company car (still expensive, but I can live with this quote xD). Bit annoying they post the documents rather than it being online, but worth the savings.
Roll on collection on the 25th Nov

 

[PastaSource]

Can anyone provide any experience of insuring if purchasing a new car outright (incoming M3LR in this case) through a Ltd company they are owner/director of please, and want insurance to also be paid through the company?

I seem to get somewhat conflicting advice, and waiting to hear back from accountant as to 'owner vs registered keeper' questions, usually two separate queries insurers are asking - current feeling is that Ltd company is both, and Ltd company should be on V5, not me. Is that always strictly true or can Ltd company be owner and me as registered keeper? Any other gotchas (like whether insurance has to explicitly include business, even though I do no 'business' mileage as well as social/domertic/commuting, etc)? Also, how to make sure Tesla get the correct info for V5 (currently has my name and company name in registration details section of order website).

Thanks!

 

[Beaulieu]

Can anyone provide any experience of insuring if purchasing a new car outright (incoming M3LR in this case) through a Ltd company they are owner/director of please, and want insurance to also be paid through the company?

I did exactly the above. The company owns the Tesla, and I requested Tesla to put both my name and the company name on the V5. They actually phoned me up early last week before I picked the car up and just confirmed that over the phone with them - even though it says name/company in the prepare to deliver bit, it seems they don't actually carry that completely across. The registration confirmation document that's in my account online (haven't received the V5 yet) shows that they've just put "c/o <insert my name>" in the first line of the address. The V5 is who is the keeper of the car, not the owner, and it says it in big letters on the front but HMRC get a little funny over it even despite that. The car is for the individual (in yours and my case) so I don't see a huge issue with it and nor did my accountant - but put both on to be safe.

Accountant told me it was fine just to pass the cost of the insurance through the business. I've got business use included on it as I'll be using it for business travel.

 

[McXtravert]

Another win for Peugeot insurance here. 36yrs old, 9+ NCD, wife on policy, Cambs postcode.

Direct line - £890
Churchill - wouldn't touch me
Arriva - £756
Peugeot - £431 (£500 voluntary but going to take out a £40 policy via third party to cover my ass if I need it)

Just need my bloody reg. number now to continue.