Model 3 Insurance - Young Driver

[DELECO]

Hey there, I've just made the initial deposit for a SR+ Model 3 and I now need to sort insurance out and stuff.

I've been trying to search for insurance options but it seems like no one wants to insure me based on the fact that I'm 19. I only managed to find one quote for £14000 which is just absurd.

Has anyone been in a similar situation or have any advice for this situation. Any help would be appreciated. Thanks.

Whoa! Guys give the poor lad a break - if i had the option at 19 to buy a new car, i would want the Tesla too. I guess anyone would especially the new generation, who can see the EVs are the future.

Its a shame really, as EVs have this power, but maybe Elon / Tesla could make an Software Restricted Model ?- as i am sure this would bring a whole new market into place, they could also link with Insurers a bit like the black boxes some of them use.

I wish you all the best and hope you manage to find insurance - best Insurance Options i have seen are Direct Line, Churchill and LV.

 

[djgillett]

Have you tried compare the market? I’m south east based and just checked my premium which is now at £750 for the LR model....? Seems £1899 is really high.

Yeah, the lowest on there was nearly £2,000 with an £1,100 excess. I'm paying a premium for my postcode - if I lived 3 doors down in N12, instead of in N20, it'd be £500 cheaper and if I lived at my dad's in the Midlands it's be over £900 cheaper.

Still expensive, just not quite so outrageous.

 

[Rooster6655]

Isn’t that legally defined as “fronting” and in fact illegal if the actual main driver of the car is the 19 year old as is likely in this case?

Not the right approach but I’m sure plenty do it nonetheless and hope no one notices. I’d imagine they’d notice with a performance car like this though.

People have been doing this for years, the 'main policyholder' doesn't technically need to drive it more than any named driver, the insurance still won't be cheap as the young driver will be factored in and they will also not gain any NCB

 

[Andywil]

The insurance companies are wise to fronting and it could invalidate insure so is not recommend!

Not only invalidate insurance but result in prosecution for misrepresentation or even vehicle being seized for invalid insurance.
This is definitely not the way to proceed.

 

[ivangr]

i really hope this kid doesn’t get the insurance sorted.

we really don’t need another death blamed on ‘autopilot’

jokes. *hide*

 

[djgillett]

People have been doing this for years, the 'main policyholder' doesn't technically need to drive it more than any named driver, the insurance still won't be cheap as the young driver will be factored in and they will also not gain any NCB

I did a slightly different tactic with my Jag - put my Mum on the insurance as a named driver and it saved me £200 a year on my insurance, because she's a driving instructor. For my Tesla, putting her on puts it up £250!

I actually don't think you'd save anything being a named driver, instead of policyholder, and like you say...no NCD. Even for me, 1 more year of NCD would be worth a £250 discount - and I've already got 8...

 

[TezzyMod3]

Here’s a few tricks for everyone to try!

1. be 100% honest and drive in peace. Don’t do this ‘fronting’ none sense.
2. Be the main driver so you can get a NCD
3. Add a GF/Wife/BF/Husband as second driver. Having ‘spouse’ on my insurance massive reduced the price.
4. Be honest about mileage, I found going up to 12,000 from 8,000 saved me money! (Weird). Brother did 5,000 with a black box and when he hit 5,000 after 6 months, he was forced to pay another £300.
5. Buy a house. Just kidding.
6. Try different names for your profession. E.g. teacher vs primary school teacher

 

[m3gt2]

i really hope this kid doesn’t get the insurance sorted.

we really don’t need another death blamed on ‘autopilot’

jokes. *hide*

I'm sorry but that an awful stereotype. I do thousands of miles a month and see it all and it's far more often the elderly that are unsafe, sometimes by doing 30-40 on a motorway etc. We have good and bad in all ages!

 

[Rooster6655]

it's far more often the elderly that are unsafe

Yes Morrisons car park is often like bumper cars in the daytime, seen so many bumps and drive offs going on there!

 

[AlternateFlux]

I echo a lot of the more positive comments here... Shop around and see what you can get.
I don't need to know any of your personal circumstances to offer that advice.

FWIW I am 44, have 9 years NCB and had one insurer offer me £12,000 for an SR+ whilst others were closer to around £2000. I tried all of the comparison sites to no avail BUT then tried the official route via Churchill and I now have my SR+ insured for £700 p/a and an excess of £500.

So keep trying. And as an old fart my only real piece of advice would be to occasionally step away from the binary world of online and to pick up the phone to a specialist broker and see if they can listen to you and your circumstances and give specific help.

Good luck - I am sure you'll enjoy the car... I'm genuinely loving mine.

Psst - lemme know if you need any floor mats; I know a guy

 

[djgillett]

FWIW I am 44, have 9 years NCB and had one insurer offer me £12,000 for an SR+ whilst others were closer to around £2000. I tried all of the comparison sites to no avail BUT then tried the official route via Churchill and I now have my SR+ insured for £700 p/a and an excess of £500.

What did Churchill quote via the comparison sites for you? I'm getting £2k quotes from them online, and in my experience calling an insurer just gets a more expensive quote...so this is interesting to me...

If you can save me £150 on my insurance I'll buy some mats from you!

 

[AlternateFlux]

What did Churchill quote via the comparison sites for you? I'm getting £2k quotes from them online, and in my experience calling an insurer just gets a more expensive quote...so this is interesting to me...

If you can save me £150 on my insurance I'll buy some mats from you!

The Churchill quote was different on comparison sites than through the official Tesla link. I have no idea why.
I did do some 'Job Title' juggling but nothing that would save me hundreds of pounds.

It does quite often just feel super random or based on time of day, position of the moon etc

*thought, maybe I need to tie Alternate Flux mats in with an insurance provider as a 'free' incentive for new Model 3 owners! ;p

 

[Daverh]

Psst - lemme know if you need any floor mats; I know a guy

 

[rerola]

I echo a lot of the more positive comments here... Shop around and see what you can get.
I don't need to know any of your personal circumstances to offer that advice.

FWIW I am 44, have 9 years NCB and had one insurer offer me £12,000 for an SR+ whilst others were closer to around £2000. I tried all of the comparison sites to no avail BUT then tried the official route via Churchill and I now have my SR+ insured for £700 p/a and an excess of £500.

So keep trying. And as an old fart my only real piece of advice would be to occasionally step away from the binary world of online and to pick up the phone to a specialist broker and see if they can listen to you and your circumstances and give specific help.

Good luck - I am sure you'll enjoy the car... I'm genuinely loving mine.

Psst - lemme know if you need any floor mats; I know a guy

I was planning on getting my floor mats from ebay tbh

 

[tess19]

Maybe you can try to limit the annual mileage and install a black box in the M3P to reduce the premium.

 

[AlternateFlux]

I was planning on getting my floor mats from ebay tbh

haha - fair enough!

right hand drive tesla model 3 floor mat | eBay

(I can only find one brand of RHD floor mats on there at the moment ;p)

hehe, seriously... Enjoy the car dude, whatever mats you decide you'll love it!

 

[phillcom3]

Hey there, I've just made the initial deposit for a SR+ Model 3 and I now need to sort insurance out and stuff.

I've been trying to search for insurance options but it seems like no one wants to insure me based on the fact that I'm 19. I only managed to find one quote for £14000 which is just absurd.

Has anyone been in a similar situation or have any advice for this situation. Any help would be appreciated. Thanks.

What job do you do to afford a model 3 at 19?

 

[phillcom3]

Not being funny but don't you think it would've made sense to check insurance before buying it?

I think you will struggle even as a named driver (if any insurance company will even allow that). It's a Group 50 car that does 0-60 in ~4 seconds.

So it's been grouped now?

 

[Mark_T]

People have been doing this for years, the 'main policyholder' doesn't technically need to drive it more than any named driver, the insurance still won't be cheap as the young driver will be factored in and they will also not gain any NCB

I'm not sure that recommending insurance fraud is a great way to get his driving career started...

There is also some mixing of terms here, owner, registered keeper and main driver can all be different people that isn't a problem.

What you cannot do, without committing fraud, is to represent that his mother for example is the main driver, and he is just a named driver on the policy when he is driving it every day and she, for example, has her own car and probably has never actually driven the Tesla.

The main driver, and where the car is kept will be the biggest factors in the insurance quote, job title can be a big factor if it is the wrong one.

It does help to add older drivers as named drivers on the policy, but it just isn't worth trying to misrepresent who is the main driver, especially if the car is purchased in the younger drivers name. The insurance companies are not stupid and you don't want to make it easy for them to walk away from a payout in the event of an accident.

 

[Rooster6655]

I'm not sure that recommending insurance fraud is a great way to get his driving career started...

Yeah clearly not recommending that which you are clearly taking out of context!