When I sell up I doubt I’ll get a Tesla to replace my M3P if the insurance isn’t more reasonable. While I was searching for this year’s policy I tried an EV6 GT and BMW i4 and both were considerably cheaper to insure despite having similar list prices.
-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
Insurance troubles May 2023
- Thread starter camsoft2000
- Start date
What?! is the skoda more risk?
Yes but it not all about list price. The M3P has the most performance and has been around the longest for their data collection/analysis... The other two are just a "punt"
PITA
Model 3 Performance
My experience so far.
2021 - Insured Car Value £61,000 = £ 750 Insurance
2022 - Insured Car Value £50,000 = £ 1,200 Insurance
2023 - Insured Car Value £40,000 = £ 2,050 Insurance Renewal
I think I've sussed the pattern here... on my next quote I'll say the car is worth £ 4.7 billion... get the insurance down to £300
2021 - Insured Car Value £61,000 = £ 750 Insurance
2022 - Insured Car Value £50,000 = £ 1,200 Insurance
2023 - Insured Car Value £40,000 = £ 2,050 Insurance Renewal
I think I've sussed the pattern here... on my next quote I'll say the car is worth £ 4.7 billion... get the insurance down to £300
PITA
Model 3 Performance
Just got a requote based on 1000 business miles & 9000 Social Miles (usually 1000 / 15000).
Premium dropped £300 to £1700 total.
So I'll do that, and drive the Wife's Skoda Enyaq VRS more...
Premium dropped £300 to £1700 total.
So I'll do that, and drive the Wife's Skoda Enyaq VRS more...
kelvin 660
White SR+ with LFP battery
It's strange that insurance for Tesla's can be so high, when compared to other cars, especially as they are hardly ever stolen!
In the case of Tesla, I believe the insurance costs has mostly to do with writing off the cars at the first minor damage due to the poor reparability, delays & cost for spare parts, rather than theft.
It's not gonna improve with 4680 and structural battery packs. Tesla will be bringing the cost of their cars down, but they'll be completely irreparable and you'll have to get a replacement after an accident. The iPhone of cars.
So much for sustainability...
It's not gonna improve with 4680 and structural battery packs. Tesla will be bringing the cost of their cars down, but they'll be completely irreparable and you'll have to get a replacement after an accident. The iPhone of cars.
So much for sustainability...
I’ve also thought the same that they make them cheaper to make but more to insure due to more often than not being write off. It won’t help their sales when people realise they cannot insure one for reasonable money.
Lord Farquad
2022 MYLR W/B/20s/Tow bar. Previously 2021 M3SR+
Jun 23, MYLR for £499 with Admiral, 10k miles. Up from £397 last year.
It’s the bloomin repair costs and delays crippling us. Either Tesla need to up the supply of parts or it’ll become ridiculous.
Makes me wonder if they have a mid term plan to enter the UK insurance marker themselves, like a night in shining armour…..
It’s the bloomin repair costs and delays crippling us. Either Tesla need to up the supply of parts or it’ll become ridiculous.
Makes me wonder if they have a mid term plan to enter the UK insurance marker themselves, like a night in shining armour…..
kelvin 660
White SR+ with LFP battery
Model 3 SR+, June 21 was £250
June 22 was £350
Renewal June 23 was £535, so I increased excess from £500 to £800 and that reduced it down to £400.
June 22 was £350
Renewal June 23 was £535, so I increased excess from £500 to £800 and that reduced it down to £400.
ElectricPolice
Member
Whatever it is and whatever anyone may tell you it is ultimately about taking our money and there's nothing we can do about it sadly.
I'm sure an 'expert' on here will give you their well founded reason (read opinion).
It sucks and yes I've just got a £1k quote too up from my £276 last year (which was a complete fluke so looking forward to how they're going to justify any increase this coming year come renewal time...)
Wife broke a headlamp last week due to a bird strike, lucky only the headlight and no other damage and cost £1300 to fix. Excess for her was £1200 so not worth the hassle. Another lump to stump up.
Insurance nowadays is purely to allow you to drive the car legally, most claims are probably avoided and settled outside with NCB not worth the paper it's written on as policies now state increases may occur regardless. Another scam IMO.
I'm sure an 'expert' on here will give you their well founded reason (read opinion).
It sucks and yes I've just got a £1k quote too up from my £276 last year (which was a complete fluke so looking forward to how they're going to justify any increase this coming year come renewal time...)
Wife broke a headlamp last week due to a bird strike, lucky only the headlight and no other damage and cost £1300 to fix. Excess for her was £1200 so not worth the hassle. Another lump to stump up.
Insurance nowadays is purely to allow you to drive the car legally, most claims are probably avoided and settled outside with NCB not worth the paper it's written on as policies now state increases may occur regardless. Another scam IMO.
kelvin 660
White SR+ with LFP battery
I'd kill for a renewal of £499. Mine is more than double that, with LV=
My M3P insurance with Novo had gone up year on year since getting the car, despite accruing an additional year NCD (I have 15 years already so not sure it even makes a difference at this point) at each renewal. They've been apologetic but it's a case of it is what it is.
As remarked already I think it's more a case of the consequential costs with repairing Teslas - it takes ages to get mundane parts, which means extra expenditure on hire cars, etc.
If a significant factor in the price increases is the potential liability for a hire car I wish there were a way to exclude hire car cover entirely in a household with multiple cars available. If the unthinkable were to happen to one of our Tesla we would not need or want a hire car anyway. Surely we can't be such a rarity.
Lord Farquad
2022 MYLR W/B/20s/Tow bar. Previously 2021 M3SR+
Is it an EV thing? My wife’s Mini EV had jumped 73% this year!
Anyone with an ICE renewal for comparison?
Anyone with an ICE renewal for comparison?
Similar threads
