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Model Y insurance high?
- Thread starter MashinBenzin
- Start date
The parts issue is the same for Model 3 (and many makes of car at present) so we are still puzzled why her Model Y quote is so much higher. Maybe as someone above says, the cost difference is due to comparing a new car and one 3 years old? I guess it is also possible the profile of Model Y drivers is different being an SUV?
Yes of course and you can claim through their insurance too. As I recall (but happy to get other opinions) you would have to declare it but wouldn’t affect your NCD either.
Lord Farquad
2022 MYLR W/B/20s/Tow bar. Previously 2021 M3SR+
Any claim will have an adverse effect on your next premium as they say you’re more likely to be involved in another whoopsie within 12 months. Smaller if non fault and protected NCB, but still noticeable.
Insurers will have you every which way….
Jason71
Well-Known Member
Admiral are giving be a rebate of £89 switching from M3 LR to MY LR. Go figure
Jason71
Well-Known Member
Its a two stage process. They have done the first bit or you would not have a reg but as you say finally click where its registered and the fees etc are due and VED (where aplicable) always happens on the day. This is pretty much how they all do it not just Tesla.
My wife’s car was due for renewal with Admiral the day before my Tesla arrives, after a while on the phone and haggling, I managed to save £80 on that by moving to Multicar and adding the MY. Just over £800 for both cars isn’t so bad. Beat the meerkat prices for each vehicle individually.
It's the same story in Canada. The brokers told me it was because there's so few shops that will work on a Tesla, driving the price up. A service center is coming to my area, but I'm not holding my breath for a cost reduction. 2700cad (2100 euro) a year for comparison, with a good driving record.
I had similar quotes, LV even quoted 2k for a 6month cover. Cheapest was in the end 1.2k with admiral. Is that London pricing?I'm crying with you in London too, Admiral were the cheapest at £1.2k. DL quoted me similar. Same as you 10y NCD and clean licence. London is just expensive sadly.
The prices are disgusting honestly.I had similar quotes, LV even quoted 2k for a 6month cover. Cheapest was in the end 1.2k with admiral. Is that London pricing?
I found out my car is getting delivered 3 days earlier so I called Admiral to move the policy by 3 days…went from £1.2k to £2.2k fortunately the advisor on the phone was as shocked as I was and said they’d honour the price I had originally paid.
Looking through other similar posts it’s definitely a London thing.
Jason71
Well-Known Member
Higher risk of accudent you think? Or break in in the City? Assume theft is low. In which must be down to repair cost i guess.
Probably a bit of all of it to be fair, and let’s be real. Insurance companies don’t have our best interests at heart
MattM76
Member
I had very little luck.
Two drivers, neither with any claims, both held a license for 20+ years. Can't apply NCB as it's used on another car. Live in Peterborough, park on the drive. Full social and business use for both drivers.
Churchill: No quote offered
Hastings: £6,000
Direct Line: No quote offered
Admiral: £1200
Our S-Max when new cost us both £320/year to insure.
Two drivers, neither with any claims, both held a license for 20+ years. Can't apply NCB as it's used on another car. Live in Peterborough, park on the drive. Full social and business use for both drivers.
Churchill: No quote offered
Hastings: £6,000
Direct Line: No quote offered
Admiral: £1200
Our S-Max when new cost us both £320/year to insure.
Is it not worth cancelling the other policy and switching the NCB to this one? Or is that also a high starting price?
I can't believe the cost of all those quotes. I got it for 600 last week for MYLR arriving on the 14/9. NI, 48, a million years license and NCB however. I refreshed money super market again and it came back with the same cost. I would not be happy with 1000+.... I guess premium expensive motor in their eyes perhaps...?
MattM76
Member
I think lack of NCB coupled with it being an expensive leased company car. They probably assume I'll thrash it to death, driving with one hand, the other stuffing a Greggs Steak bake into my mouth as a I scream into a mobile phone.
This is of course entirely accurate.
Playing around with quotes.
Remove full business and put SDP+Commuting drops it to £900/year (but no good as it is a business car, so I will be using it driving to meetings, etc and don't want to given an insurer and 'out' if they deem it's out of scope)
Full business + 9 years NCB (protected): Doesn't change the price at all.
So it's the business aspect that is the problem for me. Fortunately it's a deductible expense so....
Someone on here (sorry, can't recall who) works in the insurance industry and the higher costs are driven by the higher risk of a long term repair caused by parts shortages and significantly fewer servicing options. I guess they face the possibility of having to hire you a courtesy car for months.
This is of course entirely accurate.
Playing around with quotes.
Remove full business and put SDP+Commuting drops it to £900/year (but no good as it is a business car, so I will be using it driving to meetings, etc and don't want to given an insurer and 'out' if they deem it's out of scope)
Full business + 9 years NCB (protected): Doesn't change the price at all.
So it's the business aspect that is the problem for me. Fortunately it's a deductible expense so....
Someone on here (sorry, can't recall who) works in the insurance industry and the higher costs are driven by the higher risk of a long term repair caused by parts shortages and significantly fewer servicing options. I guess they face the possibility of having to hire you a courtesy car for months.
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