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Insurance Renewal Tesla MS.

Discussion in 'The UK and Ireland' started by Rluner, Aug 16, 2018.

  1. Rluner

    Rluner Member

    Joined:
    Apr 23, 2014
    Messages:
    138
    Location:
    North West UK
    I’ve just received my insurance renewal from Tesla’s apparently preferred insurance company Direct Line. Last year it was £532, and now they want £666. That’s a £134 increase btw.

    In the past year my wife and I have had no change in circumstances, (apart from both aging an extra year ofc) and no claims, yet our premium has risen by approx 25%.

    Let’s not forget that our Model S is now worth less this year than last too.

    I realise everyone keeps saying insurance premium are rising, but let’s get serious 25% in one year!?

    We have tried other companies but can’t get any for less, £712 with LV was the next cheapest btw.
     
  2. Peteski

    Peteski Active Member

    Joined:
    Oct 2, 2017
    Messages:
    1,429
    Location:
    UK, Milton Keynes
    Well if you've shopped around, then the increases are obviously real. I expect with Tesla it's the long delays for parts that are pushing up the insurance risk. A fair few have been stolen recently too, so there is obviously a growing black market.
     
  3. DJP31

    DJP31 Member

    Joined:
    Aug 30, 2015
    Messages:
    814
    Location:
    UK
    As @Peteski says, if you’ve shopped around and can’t beat it then you have the market rate. The cost of claims are a definite problem, and Insurers pool data so it could also be something as simple as your postcode area reporting higher claims generally.

    Another possibility is that DL have insured more Tesla’s than they want and are trying to ease back their exposure. I’m sure all the claims aren’t non-fault ;)
     

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