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Insurance under the age of 25

Beery

Member
Oct 25, 2020
21
8
Scotland
I’m wondering if anyone under the age of 25 has got a Tesla and how much they pay for insurance as right now at the age of 22 with 3 years driving and 3 years no claims I’m looking at at least £3k a year. I’ve shopped about on all the major car insurance websites and some won’t even insure me, so it’s looking like I’ll be waiting until 25 to get a Tesla as when I input that age I get figures of around £900-1000. It’s a shame as I also can’t test drive a Tesla until that age but it’ll at least give me more time to save money to put towards the car.
 
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m3gt2

Member
Sep 14, 2015
867
296
england
Have you tried using a different job title (that's not a lie) or adding your parents as named drivers? You won't get it for a bargain price but playing around with certain things can help massively. But don't lie and put your parents as the policy holder, say you are a receptionist when you're a athlete etc
 

Beery

Member
Oct 25, 2020
21
8
Scotland
Have you tried using a different job title (that's not a lie) or adding your parents as named drivers? You won't get it for a bargain price but playing around with certain things can help massively. But don't lie and put your parents as the policy holder, say you are a receptionist when you're a athlete etc
Yeah I’ve played around with that a little bit, I could get a couple hundred pound off the price with adding my parents to the policy but nothing significant enough to make it affordable unfortunately.
 
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AndrewGR

Member
Oct 18, 2019
355
159
Oxfordshire, UK
Some insurers wouldn’t give me a quote and I’ve got a 50 year driving history - “they don’t do Teslas”. Having said which, I’m not surprised to hear that you are being quoted a lot. It’s an expensive car to repair and has a lot of power to get people into trouble! I’m guessing that there is not much young driver accident history for Teslas on which to base a quote either. Good luck with your search.
 
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Adopado

Active Member
Aug 19, 2019
3,231
2,404
Scotland
I’m wondering if anyone under the age of 25 has got a Tesla and how much they pay for insurance as right now at the age of 22 with 3 years driving and 3 years no claims I’m looking at at least £3k a year. I’ve shopped about on all the major car insurance websites and some won’t even insure me, so it’s looking like I’ll be waiting until 25 to get a Tesla as when I input that age I get figures of around £900-1000. It’s a shame as I also can’t test drive a Tesla until that age but it’ll at least give me more time to save money to put towards the car.

Yes ... it's always been a killer trying to get insurance when young and relatively inexperienced. Many years ago I had an option to buy a knackered Alfa for £25 (yes really) when I was 19 with a couple of years driving experience. I was quoted an insurance price (for third party cover only) that according to an online inflation calculator would be equivalent to £4800 today! (This for car that when new would have done 0-60 in 12 seconds if you were lucky.) Suffice to say I bought a Mini instead.
 
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VanillaAir_UK

Supporting Member
Jun 17, 2019
7,138
4,659
Surrey, UK
I used classic car insurance at that age initially through a car club - a Tesla wouldn't count as a classic car but you may find a specialist broker that could advise on options. Even though the car was heavily modified (and treated for insurance purposes as a V8), the insurance was cheaper than main stream insurers and had an agreed valuation.
 

Alistairuk

Member
Jun 25, 2020
377
249
Scotland
I assume you have checked Direct Line and Churchill as they don't pop up on the comparison sites?

Even as a 35-year-old with 14 years no claims some random insurers quoted ridiculous amounts - one was £3k + 3k excess. In the end my insurance was just over £400 with a £300 excess so quite a substantial difference :)
 
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Arran

Member
Feb 4, 2020
133
99
Southampton
I don't want to be knocking on the door of self-promotion. But I'm 23 and was able to get insurance for almost bang on £1l. I cover a fair bit of it in my video, but the key take-aways/things I've noticed to save you time:

- There's a HUGE price hike under 23. Most insurers use this as a cut-off point for 'Performance' Cars which the Model 3, Tesla falls-under
- I found a big shift in pricing going between leasing the car, and owning it outright. With it being significantly more favourable to the latter.
- I didn't find Job Title to affect it too much. I had mine down as Company Director which usually have the highest rates, but it was still very decent.
- Having at least 1 years NCB makes a huge difference. I was lucky to have 2, to bring over to my policy from my Suzuki Swift.
- And then the basics for a young driver getting insurance, adding 2 parents/guardians as named drivers makes a difference, living in an affluent Post Code helps, going fully comp over third-party etc.

Direct Line wanted to have nothing to do with me because of my age. Confused, GoCompare kept pushing me towards Churchill, which I ended up with. And when you do, you can haggle down the price even further by telling them on the phone you've got Autopilot.

It's 100% doable. But there's a hard cut-off at 23 where the prices rocket from £1k to around £3-5k as quite a few insurers just refuse to cover you at all.

Also expect a high excess (Around £1k)
 
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Beery

Member
Oct 25, 2020
21
8
Scotland
I assume you have checked Direct Line and Churchill as they don't pop up on the comparison sites?

Even as a 35-year-old with 14 years no claims some random insurers quoted ridiculous amounts - one was £3k + 3k excess. In the end my insurance was just over £400 with a £300 excess so quite a substantial difference :)
Yep, they were the first 2 I checked as I heard on the forums before they have the best price for tesla owners.
 

Silicon Desert

Active Member
Oct 1, 2018
3,060
2,814
Sparks Nevada / GF 1
Moderator comment - this post is by a poster outside the UK and Ireland region and contains information that may not be legal in regions covered by this sub forum.

I'm a long way from Scotland. I put our son on our policy until he was 25 and it didn't add a lot more. Maybe something you can or can't do.
 
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Beery

Member
Oct 25, 2020
21
8
Scotland
I don't want to be knocking on the door of self-promotion. But I'm 23 and was able to get insurance for almost bang on £1l. I cover a fair bit of it in my video, but the key take-aways/things I've noticed to save you time:

- There's a HUGE price hike under 23. Most insurers use this as a cut-off point for 'Performance' Cars which the Model 3, Tesla falls-under
- I found a big shift in pricing going between leasing the car, and owning it outright. With it being significantly more favourable to the latter.
- I didn't find Job Title to affect it too much. I had mine down as Company Director which usually have the highest rates, but it was still very decent.
- Having at least 1 years NCB makes a huge difference. I was lucky to have 2, to bring over to my policy from my Suzuki Swift.
- And then the basics for a young driver getting insurance, adding 2 parents/guardians as named drivers makes a difference, living in an affluent Post Code helps, going fully comp over third-party etc.

Direct Line wanted to have nothing to do with me because of my age. Confused, GoCompare kept pushing me towards Churchill, which I ended up with. And when you do, you can haggle down the price even further by telling them on the phone you've got Autopilot.

It's 100% doable. But there's a hard cut-off at 23 where the prices rocket from £1k to around £3-5k as quite a few insurers just refuse to cover you at all.

Also expect a high excess (Around £1k)
I've actually saw a couple of your videos before, haven't saw this one though so I'll be sure to give it a watch!
 

Mr H

Active Member
Jan 6, 2020
1,444
1,441
Manchester
I’ve thought about that before but the fact that for 2 years I won’t earn my no claims discount I’ve decided against this idea.
some companies will allow this, Churchill and Admiral do

https://www.churchill.com/car-insurance/options/third-party#:~:text=Whilst your named driver remains,car insurance policy with Churchill.

No Claims Bonus and how it gives you a discount - Admiral.com

However if it is your car and the insurance co find out, they won't pay out in the event of a claim
 

Billbrown1982

TM3 LR 2021 | Red | FSD
Dec 21, 2020
239
95
Basildon
I take it you've checked out black box insurance policies? Means you can't have as much fun with the car as you might like, but I've found they can be pretty liberal in the past. I tested one out once and I was still able to drive quite hard and throw it into roundabouts without affecting the overall score.
 

Cozzavillain

Member
Feb 18, 2020
22
16
Swindon
My advice would be avoid paying through the nose for cars at that age. When all this covid lark blows over, I’d spend the money on holidays and memories. Plenty of time for cars, all they do is drain your resources! This coming from someone who made that mistake, I’ve had a few BMWs, Audis and a tesla (I’m 28) and I often sit and think about all the money I’ve spent on cars!!
 

ACarneiro

Active Member
Jun 20, 2019
1,246
981
Shrewsbury, Shropshire, UK
My advice would be avoid paying through the nose for cars at that age. When all this covid lark blows over, I’d spend the money on holidays and memories. Plenty of time for cars, all they do is drain your resources! This coming from someone who made that mistake, I’ve had a few BMWs, Audis and a tesla (I’m 28) and I often sit and think about all the money I’ve spent on cars!!
I could argue that all the money you’ve spent on cars IS you making memories.
You’ll reminisce of all the awesome cars you had “when you were lad”.
God, I wish I was 28 again (except I’d have to sit professional exams again. That was NOT fun)
 
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