Insurance UK

[JP1611]

I have a delivery date for Friday and contacted my insurance company (Esure) today to amend the policy to the new car and they informed me they do not insure Tesla's. They've now cancelled my policy as it was due to end in June and refunded me the outstanding premium and waived any cancellation charges.

I was previously quoted 532 with Churchill in September which was around £50 more than what I paid for my BMW 420D, however now it's 661. That is quite an increase in a few months.

 

[IanB]

I have a delivery date for Friday and contacted my insurance company (Esure) today to amend the policy to the new car and they informed me they do not insure Tesla's. They've now cancelled my policy as it was due to end in June and refunded me the outstanding premium and waived any cancellation charges.

I was previously quoted 532 with Churchill in September which was around £50 more than what I paid for my BMW 420D, however now it's 661. That is quite an increase in a few months.

Quotes are often much more if Insurance is needed in just a few days time. if you sorted this 3 weeks ago you would get a much better deal, the sweet spot is meant to be 21 days prior to needing the insurance.

 

[JP1611]

Quotes are often much more if Insurance is needed in just a few days time. if you sorted this 3 weeks ago you would get a much better deal, the sweet spot is meant to be 21 days prior to needing the insurance.

I would have done, but I only received my delivery date last Thursday and my registration number this morning.

 

[SteveM3P]

I am currently waiting for my M3P and thought I would check out insurance prices 2 weeks ago, cheapest I could find was with Churchill £860, Direct Line was £1800.

I checked again last night and Churchill is now quoting £1662!!!!! How has it increased so much??

Admiral is now the cheapest at £1330 but was £1680 until I added by 66 year old dad to the quote.

I have just renewed my insurance for my 66reg Audi S3 which was £578, seems going electric won’t be as much as a saving as first planned

 

[Jai0919]

I have a delivery date for Friday and contacted my insurance company (Esure) today to amend the policy to the new car and they informed me they do not insure Tesla's. They've now cancelled my policy as it was due to end in June and refunded me the outstanding premium and waived any cancellation charges.

I was previously quoted 532 with Churchill in September which was around £50 more than what I paid for my BMW 420D, however now it's 661. That is quite an increase in a few months.

As you cancelled before the 1 year policy completed, be careful in that esure may not count that period towards No Claims bonus total as to the letter it was not 1 year.

I got caught out by that in the past by selling a car a couple of days before the insurance policy expired thinking that's ideal for me however when the proof of no claims cert came thru' it did not include that year

 

[JP1611]

As you cancelled before the 1 year policy completed, be careful in that esure may not count that period towards No Claims bonus total as to the letter it was not 1 year.

I got caught out by that in the past by selling a car a couple of days before the insurance policy expired thinking that's ideal for me however when the proof of no claims cert came thru' it did not include that year

Esure confimed that I will not receive any no claims for the part year. I've now paid for my new insurance with Churchill which starts Friday.

 

[Jai0919]

Esure confimed that I will not receive any no claims for the part year. I've now paid for my new insurance with Churchill which starts Friday.

Glad to hear you're sorted with the new insurer. IMO insurers should have a grace period of a week or so in the event the policy is canceled before it's set date that includes that period toward a no claims year (if there are no claims made).

 

[Durzel]

It feels particularly mercenary that insurance goes up the closer you are to the date you want to start the policy on. I get that it is capitalising on desperation, and no one is forcing anyone to take out the policy, but it intuitively feels really grubby.

 

[Ant M3]

It feels particularly mercenary that insurance goes up the closer you are to the date you want to start the policy on. I get that it is capitalising on desperation, and no one is forcing anyone to take out the policy, but it intuitively feels really grubby.

Exploitation if you ask me !

 

[MrBadger]

Or not benefitting from the ‘discounts’ available by locking in a quote early.

 

[Chalks99]

Or not benefitting from the ‘discounts’ available by locking in a quote early.

I understand that but how can you take advantage of ‘discounts’ if you’re only give 7 (or less) days notice on your registration details and date of vehicle collection?

 

[MrBadger]

Its a quote with variable start date and no known registration. Insurers are use to doing it this way, especially on new cars. Might need picking up the phone though.

eg We had 5 month wait, but could have been as short as 2 months had Tesla's estimates been reliable. One quote at beginning to get a sanity check, next quote around when we got VIN (and Tesla confirmed we were allocated rather than playing VIN ping pong) with 30 day estimated date. When we got registration less than 24 hours ahead of planned pickup, we just confirmed registration and pickup date and, apart from £1.xx adjustment for moving delivery forward a few days, they honoured the 30 day quote.

 

[splongey]

I've never heard of quotes with variable start dates. You get a quote and it's usually valid for 30 days. Do you have to ring insurers up to get a variable start date quote? I had no idea that the insurance would rocket up so much as it did otherwise I would have taken some sort of steps to attempt to lock in the original price.

 

[MrBadger]

Variable start date is my term.

Yes, quote is valid for 30 days, but you tell them when you want it to start at some point in the future and when an exact date and reg comes through, you just buy at agreed quoted price plus/minus any adjustment (ours was less than £2 for moving it in a couple of days and was pretty much spot on my estimate as it was mid policy car change) due to moving the start date from the one quoted - so long as quote is still valid within 30 day period. If it looks like car isn't going to come in in time, then repeat, leaving as much notice as you can to benefit from better rates.

Yes, you need to phone them as someone at end of phone who is potentially going to get a commission from this (as apposed to going through a comparison site where the comparison company/broker benefits) means that they are incentivised to help you and also for you to keep asking any more discounts or what ifs. Useful to have other quotes to hand as sanity checks.

By the time you get a vin allocated and confirmed with Tesla (rather than relying on SC VIN ping pong), you are going to start getting pretty good estimates on a potential delivery windows. I chose to estimate a date that was approx a calendar month from when I got the quote, and I was out by couple of days. Tesla were telling me first week Oct, possibly before end Sept. Quarter end push concentrates minds so I took gamble on 1st Oct, we collected last few days of Sep and there is room for adjustment in those dates too - we slipped ours a day.

 

[karoo]

I am currently waiting for my M3P and thought I would check out insurance prices 2 weeks ago, cheapest I could find was with Churchill £860, Direct Line was £1800.

I checked again last night and Churchill is now quoting £1662!!!!! How has it increased so much??

Admiral is now the cheapest at £1330 but was £1680 until I added by 66 year old dad to the quote.

I have just renewed my insurance for my 66reg Audi S3 which was £578, seems going electric won’t be as much as a saving as first planned

Have you tried Novo? Cheapest for me was LV at £1400. Tried Novo and they quoted me £1250. In addition, this included protected no claims (unlike my quote with LV), they allow any cosmetic modification (LV is extra) and lots of other nice benefits (such as Tesla replacement car, they only useTesla approved repairers etc).

 

[DaveyJ2019]

Wow I have ordered a M3P through SS lease arrangement which includes insurance. Just out of curiosity got a quote cheapest was £1600 if paying anually or £200 a month with initial £600 payment Looks like im defo getting a bargain at £550 per month all in lol

 

[Coly]

I dont know what you are all moaning about, cheapest I can find on a tuesday and in the sweet spot of 3 weeks is 2k with £850 excess! 8 years ncd (I do drive 25k and am declaring it). Wondering what to change my job title to drop a few quid within a fair bracket. My job isnt listed

 

[SteveM3P]

Have you tried Novo? Cheapest for me was LV at £1400. Tried Novo and they quoted me £1250. In addition, this included protected no claims (unlike my quote with LV), they allow any cosmetic modification (LV is extra) and lots of other nice benefits (such as Tesla replacement car, they only useTesla approved repairers etc).

No I haven’t tried Novo, I will give them a call tomorrow.

 

[SteveM3P]

Wow I have ordered a M3P through SS lease arrangement which includes insurance. Just out of curiosity got a quote cheapest was £1600 if paying anually or £200 a month with initial £600 payment Looks like im defo getting a bargain at £550 per month all in lol

Aye I would say £550 is a great deal considering I’m going to be paying £630 a month just for the car.

 

[SteveM3P]

I dont know what you are all moaning about, cheapest I can find on a tuesday and in the sweet spot of 3 weeks is 2k with £850 excess! 8 years ncd (I do drive 25k and am declaring it). Wondering what to change my job title to drop a few quid within a fair bracket. My job isnt listed

Called AdrianFlux today, cheapest they could do was £3k!!! I only do 8000 miles a year with 20 years NCD.