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Insurance quotes for Australian M3?

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Wowsers over $4400 for insurance on my 2018 Model S 100D through Shannons. My broker informed me that QBE is no longer covering Teslas so I tried Shannons while I'm waiting for them to source a new insurer.

Crossed fingers that the new one wont be that much - last year it was $2600.

Edit : And Huddle quotes $2,300 for it. It pays to shop around...
I’ve been advised that QBE will continue to cover tesla’s already on their books, but arent taking any new ones.
I’ll know for sure in about a month.
 
This is what I got for agreed value for NRMA at $109,000

Comprehensive Includes $75 hire car for 14 days

Comprehensive plus includes unlimited hire car $100 per day windscreen, taxi/valet to and from accident and servicing

Excess $695 Preferred repairer

Comprehensive $2609.83
Comprehensive plus $3002.42

Excess $850 Preferred repairer

Comprehensive $2358.84
Comprehensive plus $2702.16
 
I was just quoted $888/y from RACQ.

  • Performance
  • In 4074
  • $650 excess
  • 2 year new-for-old, market value after that
  • All glass, including the roof 1x excess free claim per year
  • Hire car
  • 42yo male only driver, had a bingle in the current car about 3 years ago. Otherwise good record.
  • Combined with home insurance discount
  • 10+y RACQ member
 
Last edited:
I was just quoted $888/y from RACQ.

  • Performance
  • In 4074
  • $650 excess
  • 2 year new-for-old, market value after that
  • All glass, including the roof 1x excess free claim per year
  • Hire car
  • 42yo male only driver, had a bingle in the current car about 3 years ago. Otherwise good record.
  • Combined with home insurance discount
  • 10+y RACQ member
That is CRAZY good and with one bingle declares as well!!

RACV here in Melbourne for same age as you, zero bingles, garaged Silver RACV member and combined with home insurance and another car as well and it’s $1950 AND with a $850 excess!!

these quote differences are nuts!
 
AAMI now have Model 3 in their Tesla list, but only the SR+ model and a cap of $88,500 price.

My AAMI quote came in at $1188 keeping the base $66k covered and no window or hire car. (PDS should give replacement for write off within 2 years). Adding windscreen brings it up to $1,261. Increasing the value to the actual purchase price ($73.5k) makes these quotes $1318 and $1391 respectively. Excess is $1320.
 
I was just quoted $888/y from RACQ.
Called RACQ after finding M3 still not on the online quoting tool. It's no longer on their system at all now so they can't quote. Since I called on a Sunday and their underwriting team aren't on duty will find out during the week why they've removed it. I also have Bendigo Bank calling me back during the week for the same reason. Be interesting to see why S & X are still okay but 3 has been removed.
 
Called RACQ after finding M3 still not on the online quoting tool. It's no longer on their system at all now so they can't quote. Since I called on a Sunday and their underwriting team aren't on duty will find out during the week why they've removed it. I also have Bendigo Bank calling me back during the week for the same reason. Be interesting to see why S & X are still okay but 3 has been removed.
Yep, I had to call during the week to get a quote.
 
Yep, I had to call during the week to get a quote.
So, I have a minor update, RACQ won't quote me until the car is available on Australian shores...I guess I'm calling them back in a month after first deliveries of SR+ have number plates on them. Bendigo explained they're a broker and their primary source doesn't list M3 but they'll have a quote for me in a couple of days.