'cept with his 85 S the whole pack can be dropped in 5 mins.
Nevertheless ya can see why insurance costs are screaming upwards and will make used cars unaffordable or dirt cheap to be sellable...
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LV insurance hike - quick sense check
- Thread starter spon88
- Start date
Nevertheless ya can see why insurance costs are screaming upwards and will make used cars unaffordable or dirt cheap to be sellable...
WannabeOwner
Well-Known Member
I know of a car that was written off - that was hit in the side at 70 MPH and definitely wasn't driveable!. Bought off the insurance company by a garage, the cost of "bits" was about £4,000 - most amongst which was the airbags as all had gone off and probably should have only been "some" - their own mechanics so no idea what the labour was.
Given it had been hit hard it needed a lot less straitening than would be expected (structural battery helping there perhaps?). The garage owner reckoned it made for a cheap car ...
The one thing that didn't need any repair was the battery ...
Made me wonder about Insurance Company and EV and "Write off" ...
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Previously we wanted Tesla Insurance to come to the UK because we hoped it would drive prices down.
Now we can't wait for it because they'll soon be the only ones still willing to insure them....
Now we can't wait for it because they'll soon be the only ones still willing to insure them....
I guess there will be a lot of people who collected in Sept now getting quotes.
Boom who I was with at £550 have just said a flat no to insure.
LV I can't get on the website at the moment, might be because I'm in France at the moment.
Direct line £1800.00
Admiral beast at the moment at £888.00
Nothing has changed since last year claim/policy wise.
The whole industry needs looking at just like the banks with their interest rates.
Boom who I was with at £550 have just said a flat no to insure.
LV I can't get on the website at the moment, might be because I'm in France at the moment.
Direct line £1800.00
Admiral beast at the moment at £888.00
Nothing has changed since last year claim/policy wise.
The whole industry needs looking at just like the banks with their interest rates.
As stated elsewhere in this thread, and manyothers on the same topic, in most instances the rises people are seeing in their renewal premiums are driven in the main by Tesla part supply issues and the attendant costs associated with this (eg rental cars for Tesla's being off the road for long periods of time) not changes (or lack of) in people's personal situations.
I've been looking speculatively for a while to see what sort of costs I'd be looking at.
In the space of just over two months prices for me have gone from £700 for a 2020 M3LR to £1k on the nose for a 2019 M3SR+ now.
I'm guessing that shows how quickly the market can fluctuate so just hoping they might come down again. Seems unsustainable, particularly for those not having insurance covered by their lease company, which there'll be a lot more of now the second hand market's maturing.
In the space of just over two months prices for me have gone from £700 for a 2020 M3LR to £1k on the nose for a 2019 M3SR+ now.
I'm guessing that shows how quickly the market can fluctuate so just hoping they might come down again. Seems unsustainable, particularly for those not having insurance covered by their lease company, which there'll be a lot more of now the second hand market's maturing.
PITA
Model 3 Performance
My car insurance is so high, I had to sell the car to pay for it ...
Well most contracts are for a year, so no decrease in sight for us until mid 2024 at least…
Two years ago Peugeot insured my M3LR in inner London for £379, just to put things into even more painful perspective.
They’ve just worked out the fuel saving and gouged (I know all insurance is up but Tesla seems more than other premium brands, even though parts problems are fairly widespread). I wonder when if starts to feed through to sales.
They’ve just worked out the fuel saving and gouged (I know all insurance is up but Tesla seems more than other premium brands, even though parts problems are fairly widespread). I wonder when if starts to feed through to sales.
PITA
Model 3 Performance
Well (just talking to myself here)...
My Renewal came in yesterday (starts on 1st Sept) at £ 1,890 (last year it was £1004), so quite a big increase.
I called my Insurer (LV) and challenged the price, which they defended and wouldn't budge.
So I asked what Mileage Limit I had, which was 15,000 per year. So I reduced that to 9,000 (which for me is ideal as we have three cars in the house), and upon mentioning that they updated my records to show three cars total.
My Premium came down to £ 1,363 which I accepted immediately. Think I got off lightly there, under the circumstances.
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PITA
Model 3 Performance
Same for me. And went up to £3000 when checking directly with some insurers. This is madness.
Wattsisname
MY Red/White/Gems
.I don't believe you can. Even if you could find one, they would likely not be registered with the MID in the UK, so your plate would show up as uninsured with every ANPR check. You would most likely be stopped every other week...
The sad thing is, indeed, we are now losing nearly £1k a year due to these insurance hikes, that's quite a good chunk of the petrol savings I used in my man maths when I bought my Tesla...if you save 1k a year.. maybe for some it is worth the hassle to be stopped once every couple of weeks to show the insurance
I do believe that as it is in the top most sold vehicle in the UK, insurers have seen a burst of requests for MY/M3s. They want to diversify their risk, hence the large premium they are now showing to deter. Hopefully things will normalise in the future, but I'm not holding my breath.
Spending close to 150 a month to insure this car is ridiculous.
I think I will monitor the situation every couple months now, and won't hesitate to change policy mid-contract if I find a better price elsewhere. (I think admin fees for cancellation are max £50 quid with my current one)
Has anyone tried By Miles - Car insurance you pay by the mile ? They don't use a black box but connect via the Tesla API to aggregate how many miles you have driven.
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