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Insurance troubles May 2023
- Thread starter camsoft2000
- Start date
Octopus EV salary sacrifice should include insurance. My company scheme does anyway, tho I have bought m3 second hand as it was cheaper (obviously)
Edit with link Salary Sacrifice | Insurance | Octopus Electric Vehicles
Edit with link Salary Sacrifice | Insurance | Octopus Electric Vehicles
Sorry to have to tell you that it doesn't get batter. I am now in my 2nd year and did it again on March and it was no less painful than the year before. I have a perfect record and several insurers would not quote me. Before the M3LR I had a 3 litre Porsche Macan S and paid £250 for insurance, the Tesla M2 cost me £550 with Churchill's no frill policy. I would not buy a Tesla again purely because of the insurance - not just because it's expensive but because it;s unnerving getting refused quotes.
Is this through a work EV scheme? Does this not include insurance? It was one of the reasons I went with our Octopus work EV scheme, insurance seems crazy on the tesla compared to other vehicles (appreciate some do find good prices, but most i speak to either pay a lot more then for other cars or have very high excess).
Unfortunately, my employer decided to not include insurance as part of the scheme, even though Ocopus EV outrightly said it was until I got the contracts to sign.
Unfortunately not. My employer didn’t take that up so insurance is down to me and literally no one will insure the car. Just getting flat nos from every insurer. Elephant is quoting me £1200 and is the only one that is remotely reasonable that is quoting me but it's more than double what I paid for the last car which had pretty much the same value.
Why are insurers so wary of Tesla's? Are owners driving them into lamp posts or something?
Tesla needs to launch their own insurance in the UK quickly otherwise their sales are going to stall if no one can insure.
Cnixon
Member
The only sensible reason your company would refuse Lease insurance is if they have a company scheme. I would press them for details and if you have a problem then refuse the car especially if your company prevented you sacrificing for the insurance - that could be a significant saving for you. On a similar note did your company opt for maintenance because that is a complete waste for Tesla vehicles and often works out hundreds of £ which will never be required.
ask employer to insure the car, as they are keeper :/
HenryT
Active Member
Haha. Based on my digging, this person was in school in the 80's - 90's so the "2000" has nothing to do with year of birth... You know, that made me sound a lot creepier than intended.
I would imagine a broker will be your best bet who deal with company car policies, you are trying to go down an insurance route which only tends to work if you are the owner/keeper.
We do all our companies insraunces through a broker, which is underwritten by AXA.
Car, buildings, liability etc etc
We do all our companies insraunces through a broker, which is underwritten by AXA.
Car, buildings, liability etc etc
I imagine because the model is very new. I had the same with a motorbike last year that has been on the market about 1 week before I got it . Speak directly to Octopus. I'm surprised your Salary Sacrafice deal doesn't include insurance. Also when I got mine they sent my a copy of the V5 so I could reg it with TFL for free congestion charge. I just called them and asked.
Jason71
Well-Known Member
having a copy of the V5 does not help with insurance. its not about having the V5 its about whose name is on it.
My guess is a lot is to do with who they are prepared to allow to fix them, and who they will sell parts to. All EV's seem to cost a bit more (or require higher excess) then equivalent ice, but for myself the Tesla would have been significantly more then others. Have you tried the likes of greenlight and adrian flux or even NFU?
But then they'd base it on my safety score which I'm sure would drive up the premium even further... (and no i'm not driving into lamp posts
).
That's leasing for you. As @Jason71 said this isn't remotely unusual.
Lease customers generally don't get the V5C, because they never (theoretically) own the car. Having the V5C allows you to bypass various things the lease company might want to disallow or charge extra for as well, e.g. plate changes.
PCP customers get the V5C because it's assume they are going to be buying the car (hence the "Purchase" part), although I assume many don't.
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