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Model S Insurance in Australia

jdtsla2016

Member
Sep 9, 2016
9
5
Sydney
Good luck with your Model S purchase! Those insurance prices seem very high. I pay NRMA about $2K for my P90D insurance with a 2K excess and I believe some people pay less than that. Tesla now has its own insurance offering (through QBE I think) so you may want to contact them first.
Thanks Homer - yes I forgot to say I called Tesla's insurance but they seem to only be open weekdays, NRMA was the only one I could 'play' with online, interestingly 70d, 85, 85d all were coming in within a couple hundred of each other, from memory the P85D threw it up to over $5k with $1k excess. Based on what I've just seen, $2k or under for a P-anything is awesome (I even played with the birth year, adding 10 years to me reduced things but a hundred here or there but nothing drastic).

It must be something to do with our postcode although Wahroonga isn't exactly the ghetto!
 

meloccom

Moderator Aus/NZ
Feb 11, 2008
2,329
1,222
Sydney Australia
Thanks Homer - yes I forgot to say I called Tesla's insurance but they seem to only be open weekdays, NRMA was the only one I could 'play' with online, interestingly 70d, 85, 85d all were coming in within a couple hundred of each other, from memory the P85D threw it up to over $5k with $1k excess. Based on what I've just seen, $2k or under for a P-anything is awesome (I even played with the birth year, adding 10 years to me reduced things but a hundred here or there but nothing drastic).

It must be something to do with our postcode although Wahroonga isn't exactly the ghetto!

You can get further discounts from NRMA if you have multiple policies and they also offer years of insurance discounts.
I live closer to the city and am paying around $1800 annually for my S85.
 

Xwing

Member
Dec 29, 2015
102
18
Melbourne Victoria Australia
Hi all - first post, very keen to get behind the wheel of a Model S and looking at things more seriously now. Thought I'd post up the results of my insurance research so far, I'm 34 in Wahroonga (Sydney) and looking at the 90D or 85D (can't afford the P and insurance seems to be ridiculous for those for me anyway!)

AAMI: $5200 ($1800 standard excess)
NRMA: $3060 ($2000 raised excess)
Shannons: $3590 ($2050 standard excess)

Interestingly Shannons asked several times about my car history and whether I'd owned anything at that sort of price point, highest valued car previously would be $95k but I'm not sure how or why that would have influenced their decision, plus I had a classic car actually insured with them several years back which they did already have in the system...but still lots of questions.

Also interestingly, at our current property chances are it would only be under a carport as opposed to locked garage, both AAMI and Shannons require a locked garage.

Hope that is of some help to others.
cheers
Yep speak to tesla insurance. I've gone with them and they provided the cheapest quote at around the 2k mark with 1k excess for a s 60. Also doesn't matter who the driver is or the driver history. Seems that the rest of the insurance companies are getting cold feet.
 

EcoCloudIT

Active Member
Aug 24, 2015
1,149
412
Melbourne, VIC
Xwing: My insurance is nearly 50% cheaper than that (RACV) with a $2K excess (new for old up to 2 years old) on a S70 with an agreed value of around $135K (have the grey 21inch turbines etc.)

-ECIT
 

Xwing

Member
Dec 29, 2015
102
18
Melbourne Victoria Australia
Xwing: My insurance is nearly 50% cheaper than that (RACV) with a $2K excess (new for old up to 2 years old) on a S70 with an agreed value of around $135K (have the grey 21inch turbines etc.)

-ECIT
Yep I've seen there are lots of of cheaper deals out there but they do seem to come down to driving history, where it's parked etc. With Tesla it's 3 years new for old and $1k excess. I just found with the 3 other quotes I received nothing came in cheaper and Youi wouldn't ensure it at all. So definitely worth each individual looking into it themselves to get the best deal.
 

Homer

Member
Jan 13, 2016
245
56
Sydney, Australia
I also think the model number/purchase price makes a big difference to the premium. I'm paying $2K with NRMA which was the best price I could find at the time on a Model S that cost a tad over $270K, and that premium is still $500 cheaper than Tesla Insurance today. I haven't had a claim or even a speeding ticket in 15 years.
 

joninmelbourne

Solid Black S60 new face
Jun 29, 2016
146
25
Melbourne
Just got quoted $950 with RACV but with $2000 excess. I have ever claimed on car insurance so the excess is OK by me. Coles guarantee to beat quotes so they are next on the list to call, but they don't list the new 60kw/h yet only 70 and above so may have to wait.
 

EcoCloudIT

Active Member
Aug 24, 2015
1,149
412
Melbourne, VIC
joninmelbourne: all you do is ask the agent to check with their un-writers (call during business hours and they put you on hold whilst they check) requesting to use the 70 as a basis of your quote but they list as a line item they're covering you for a 60.

When I got my 70 all the insurance companies didn't have it listed, (they had the 70D, no 70)....anyhow I was told to do the above and it work on all of them with the exception of Budget...they're agent are idiots.

I went with RACV, same type of deal you just got....
 

surfer2065

Member
Oct 26, 2015
11
3
Port Stephens NSW
I'm with AAMI, have been for a year. Last year they charged $870 with $1250 excess for my 85D. Just today got policy for next year at $961. I'm happy with that.. fully optioned car... complete replacement policy with all options if written off in first 2 years.
 

ShockOnT

⚡️⚡️⚡️⚡️⚡️
Jun 26, 2016
3,337
3,033
Sydney
That s
I'm with AAMI, have been for a year. Last year they charged $870 with $1250 excess for my 85D. Just today got policy for next year at $961. I'm happy with that.. fully optioned car... complete replacement policy with all options if written off in first 2 years.
That seems very cheap. I'll have to give them a call (website won't process Tesla). My quote from InsureMyTesla was about $1900 with $1000 excess for facelift 70D.
 

ShockOnT

⚡️⚡️⚡️⚡️⚡️
Jun 26, 2016
3,337
3,033
Sydney
Indeed it did. I still don't know whether to be happy or annoyed. Basically I have the 75 battery locked to 70. About $5000 to upgrade if I want.
Might have gone with the cheaper 60D, but then would have agonised over the 75 upgrade. 1st world problems though :)
 

marcco

New Member
Sep 8, 2019
1
0
Sydney
QBE seems to have stopped insuring Teslas, the cheapest comprehensive I got quoted for my model S was $3,900 (after trying with about 6 insurers (75D 2018), then I found AAMI would do it with a $3,000 excess for only $1,600.
 

meloccom

Moderator Aus/NZ
Feb 11, 2008
2,329
1,222
Sydney Australia
Just some advice for those new owners struggling to get reasonable quotes for insurance.
In another life I was an insurance underwriter and about 20 years ago the Insurance companies woke up to the fact that long term multiple policy holders were a much better risk than single short term policyholders.
I’m currently paying circa $1,600 for My Model S insurance with agreed value above $100K but I have about 10 policies with NRMA and have been with them continuously since the 1980s.
Just did a quick quote without any of my loyalty benefits on a LR AWD Model and it came up in the $3000 range.
So if you’re young and the Model 3 is your only insurable asset you are likely going to pay a lot but if you present all your business to an insurer, Home, Contents, other cars etc you will likely do better.
 
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smithy

Member
May 1, 2018
177
192
Sydney
I just went with AAMI, 2018 S 100D, $1965 for replacement car (first two years they do new car replacement), excess $1850 and includes windscreen
 

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