MattM76
Member
Good lord. I give up. Admiral it is.
I genuinely believe a lot of insurance companies don't really know what a Tesla is or can do.
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Model Y insurance high?
- Thread starter MashinBenzin
- Start date
Good lord. I give up. Admiral it is.
I genuinely believe a lot of insurance companies don't really know what a Tesla is or can do.
Spacerat
Member
You should be able to get your fleet insurance provider to issue a letter stating your NCB which you can use.
I did, but a lot of the comparison sites say it needs to be a privately held insurance policy to be eligible!
Spacerat
Member
Martinb999
Member
I've been looking for about a week now daily on comparisons sites for insurance for my MYLR when it comes in a couple of weeks time. My M3P insurance is £312 per year and that's the highest it's been ever - the MYLR with exactly the same criteria all through is coming out at £815 as a minimum! LV, who I'm insured with already, quoted £923 this morning!! I cannot believe the difference for a less powerful car etc.
Keep trying...........................
Keep trying...........................
Lord Farquad
2022 MYLR W/B/20s/Tow bar. Previously 2021 M3SR+
I’ve seen sky high prices for new models before. Until they have some actual data they hedge their bets on higher premiums. It should get better after 12 months or so.
I remember buying a new motorcycle which was a completely new model to the the manufacturer. The first years premium was horrible for a mid capacity machine.
I’d also wonder how it compares to a Macan S or similar high performance SUV, after all they are a pokey machine.
Jason71
Well-Known Member
Which is easily disabled if you know how unlike a dedicated one hidden somewhere in the car.
Jason71
Well-Known Member
I don't get it. With Admiral an MY was cheaper than MY M3LR.
Jason71
Well-Known Member
What would expect to pay on a midrange small SUV in insurance group 50 with 400+ BHP that does 0-60 in under 5 seconds, costs 60k and costs a fortune to repair, assuming you can get the parts?
What makes you say it is easily disabled. You can't switch it off and there is no physical SIM card to remove.
The only possible way is to block the SIM card signal which would not be easy whilst still being able to steal the vehicle.
A lot less than double the rate for a far more expensive and stealable large SUV with very expensive repair costs and difficult to obtain parts.
I’d expect it to be on a par with Model 3 LR and that doesn’t seem to be the case.
We're getting high quotes as well almost double the price of the xc90 twin engine we had.
Jason71
Well-Known Member
Its was £89 less for me than my M3 LR so i would say its more volatile than high right now.
Jason71
Well-Known Member
Because its in the same location on every car so once you know which wires to pull on one car you know how to do it on all of them.
When did you insure?
It’s high right now. If it’s more than double an £80k Land Rover or a PHEV Volvo XC90, that’s high.
Seems you may have been lucky, when did you insure?
Jason71
Well-Known Member
The prices some people are getting do seem crazy.
I don't see why it is not very similar to an M3
When I had a delivery date for the MY last week I asked for a price to swap from my M3 LR and it was £400. £89 less than the M3.
Same as in July when I first checked the price.
Maybe I got some benefit from swapping on the same policy, I usually expect that to be an excuse to rip you off.
I guess we will never know.
Admiral.
edit. I reran my quote through money supermarket and it has gone up by £300 to £700 so looks like switching in policy has helped me
Last edited:
Jason71
Well-Known Member
There are a lot of MY coming into the country right now. I suspect it will be the best selling car of the month.
Is there any possibility that with it being a new so slightly unknown model the insurers don't want too many on their books since if they have their calculations wrong the error is magnified. Same way bookies like to manage their risk by not taking too many bets on the same horse.
So is it possible the sheer number of enquiries on MY right now is scaring insurers off and causing them to raise their prices since they have met their "quota" for the month.
I know nothing about insurance. This is a total guess?
Is there any possibility that with it being a new so slightly unknown model the insurers don't want too many on their books since if they have their calculations wrong the error is magnified. Same way bookies like to manage their risk by not taking too many bets on the same horse.
So is it possible the sheer number of enquiries on MY right now is scaring insurers off and causing them to raise their prices since they have met their "quota" for the month.
I know nothing about insurance. This is a total guess?
MattM76
Member
I definitely think the combination of volume plus the unknown quantity of the car is a massive factor in the underwriting. Given quotes are algorithm based, there must be a huge "I dunno, double it?" factor coming into play when little is known about the average claim against a new car.
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