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Insurance troubles May 2023

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camsoft2000

Member
Mar 20, 2023
14
0
Brighton, UK
#1
Hello, I'm new here as I've just taken receipt of a Tesla Model Y RWD through my company lease scheme. I'm really struggling with car insurance.

I'm married, homeowner, 10yrs NCD, No Accidents, Convictions etc, the car is worth £44,000 yet none of the insurers I've tried so far, Direct Line (via Tesla link), Privilege, Churchill, Admiral (Call Us) will insurance me. Given that it's against the law to drive a car uninsured, why can't I insure this car, it's ridiculous.

The cheapest quote on Compare the Market is £1,315! Literally what the hell.

I honestly don't understand what is going on, it's not a Bugatti Veyron I'm trying to insure.

The CTM page shows a list of 140 insurers that won't insure me!

Please help, does anyone know why insurers won't provide their services to me? I had an ID.4 similar value and was paying £~300pm.
 
#2
camsoft2000 said:
Hello, I'm new here as I've just taken receipt of a Tesla Model Y RWD through my company lease scheme. I'm really struggling with car insurance.

I'm married, homeowner, 10yrs NCD, No Accidents, Convictions etc, the car is worth £44,000 yet none of the insurers I've tried so far, Direct Line (via Tesla link), Privilege, Churchill, Admiral (Call Us) will insurance me. Given that it's against the law to drive a car uninsured, why can't I insure this car, it's ridiculous.

The cheapest quote on Compare the Market is £1,315! Literally what the hell.

I honestly don't understand what is going on, it's not a Bugatti Veyron I'm trying to insure.

The CTM page shows a list of 140 insurers that won't insure me!

Please help, does anyone know why insurers won't provide their services to me? I had an ID.4 similar value and was paying £~300pm.
Click to expand...
Did they say they won’t insure you or they quote high prices? It is a known issue both high prices and not able to find the RWD model Y within their system. Some create a quote for the LR and then follow up with phone calls once you receive the car and get the same price. I guess you have not yet received the car. Go thro some of the threads and PM few of them who had similar issues. Having seen some of the threads this is a known issue and people managed to fix it. So hopefully you will find the way.
 
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#4
Add LV to that list, the car is recognised just fine. They won't insure me, usually, it's just "sorry we can't insure you" or "sorry we require a tracker to be fitted to the car".

I'm wondering if that's the issue, why would they require a tracking device to be fitted?
 
#7
Add AVIVA "We're sorry but we won't be able to provide you with cover online or over the phone" - Starting to wonder what I'm doing wrong. I select that I'm not the registered keeper or legal owner and select "Company". Miles is 10k per year, 10 NCD.
 
#8
camsoft2000 said:
Add LV to that list, the car is recognised just fine. They won't insure me, usually, it's just "sorry we can't insure you" or "sorry we require a tracker to be fitted to the car".

I'm wondering if that's the issue, why would they require a tracking device to be fitted?
Click to expand...
This thread discusses similar issue. @Chimpy McChimp is very helpful, can provide some suggestions.

teslamotorsclub.com

Flow Insurance & Tracker

Hey all, The cheapest insurance is £2,300 with Flow the next one is Direct Line at £3k for MY LR. Flow has stated (part of Liverpool Victoria) "The tracking device must be active when your car is parked. If not, we won’t pay for any loss or damage caused by theft or attempted theft." I...
teslamotorsclub.com teslamotorsclub.com
 
#13
That’s your issue right there, the Registered Keeper being a company rather than an individual. I’m in a similar position and found that last year Admiral was the only one that would insure me and my model 3 red for a semi reasonable price of £860, whereas Aviva the only other one, wanted to charge me £2.4K. This is 7 years NCB, etc. When it came to renewal this year the price comparison sites were showing Churchill and LV for around £900 - £1200. Interestingly Admiral didn’t show up. I decided to call them anyway and they were happy to renew for £840, which I accepted.

Basically insuring a car that has a RK as a company costs more than an individual. If the V5C states the RK is an individual i.e. your name, then just insure under you rather than under a company. Unfortunately, in my case the RK is the company as is the legal owner.
 
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#14
Mr H said:
You still put that you're the registered keeper, the owner is a separate thing, i.e the lease company
Click to expand...
You can't put that you are the registered keeper if you are not. Most lease company's make themselves the keeper on the V5 even though the DVLA days it should be the person who actually 'keeps' the vehicle. I assume it's to prevent anyone trying to sell their lease car.
 
#16
Jason71 said:
You can't put that you are the registered keeper if you are not. Most lease company's make themselves the keeper on the V5 even though the DVLA days it should be the person who actually 'keeps' the vehicle. I assume it's to prevent anyone trying to sell their lease car.
Click to expand...

That's an interesting point, so if the DVLA says the person who keeps the vehicle should be a registered keeper can I contest that with Octopus EV and ask them to transfer this to me personally?
 
#17
Rirawin said:
That’s your issue right there, the Registered Keeper being a company rather than an individual. I’m in a similar position and found that last year Admiral was the only one that would insure me and my model 3 red for a semi reasonable price of £860, whereas Aviva the only other one, wanted to charge me £2.4K. This is 7 years NCB, etc. When it came to renewal this year the price comparison sites were showing Churchill and LV for around £900 - £1200. Interestingly Admiral didn’t show up. I decided to call them anyway and they were happy to renew for £840, which I accepted.

Basically insuring a car that has a RK as a company costs more than an individual. If the V5C states the RK is an individual i.e. your name, then just insure under you rather than under a company. Unfortunately, in my case the RK is the company as is the legal owner.
Click to expand...
Owner != keeper. No reason the company has to be the keeper just cos they are the owner
 
#19
Jason71 said:
Good luck with that. Its standard industry practice unfortunatly. What the DVLA says means nothing unless it's an actual law.this is more guidance.
Click to expand...

So I've been miss-sold the car through a scheme under the impression I would be able to drive it, given they won't transfer the V5C to my name they are essentially preventing me use the car as I can't insure it. I guess I'll be demanding that they take back the car, what a con this leasing is, so much for saving money through salary sacrifice.
 
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