Model Y insurance high?

[WllXM]

The MY LR should have around 378 BHP. If you take this 378 as if it were KW power it converts to 507 BHP. They have taken then wrong unit of measurement.

I think it was discussed in the other thread but I seem to recall a member here mentioned that 378 was indeed showing in his V5C as the proper kW power, effectively making it 507bhp.
But this is taking into account the max power only achieved if you unlock acceleration boost.

I would welcome a decrease of my premium if this was incorrect though, but having compared many insurers quotes, many of them seem to concur on that figure.

Some figures from EVcompare.io:
Y Perf 450 BHP, 336 KW, 639 NM
Y LR AWD 346 BHP, 258 KW, 527NM
Y LR RW 258 HP, 192 KW, 430 NM
Y Standard 201 HP, 150 KW, 350 NM

Also this seems wrong. Mainly because there aren’t 4 variants… « LR RW » doesn’t mean anything?!
It’s either a Standard RW or a LR AWD….

 

[Jason71]

I think it was discussed in the other thread but I seem to recall a member here mentioned that 378 was indeed showing in his V5C as the proper kW power, effectively making it 507bhp.
But this is taking into account the max power only achieved if you unlock acceleration boost.

I would welcome a decrease of my premium if this was incorrect though, but having compared many insurers quotes, many of them seem to concur on that figure.


Also this seems wrong. Mainly because there aren’t 4 variants… « LR RW » doesn’t mean anything?!
It’s either a Standard RW or a LR AWD….

not in the UK but the LR RWD exists or existed in the US and probably other places. At least I think so

 

[WllXM]

not in the UK but the LR RWD exists or existed in the US and probably other places. At least I think so

They don’t seem to even have the RWD in the US yet…

 

[Skenno]

Had a renewal email from Churchill which showed an increase of £215 so I made contact online asking the reason why as it’s been £33? For the last two years. After many questions I had to confess two driving offences (speeding), so expected that to be the answer to my query, then followed the bad news that my premium would go up to £639.
I decided not to go ahead at the time and checked out MoneySupermarket.com filling out all my details including claims and convictions, and to my amazement a quote appeared of £339 with Churchill. I rang them and they told me a renewal was £639, but a new quote would be £339. Joy of joys

Word of warning for previous claims and convictions through a comparison site...
I'd put my details including 3 points on my wife's licence on compare the market and ended up going with Hastings. Stayed with them for a few years and out of nowhere they tried to put the policy up from about £300 to over £2k. I eventually got through to them and they said they 'found out' about the points and that I hadn't disclosed them (i absolutely had!). I had to cancel the policy and pay a couple of hundred quid for the pleasure. They had me over a barrel and there was nothing I could do. Every other quote I got with the points was around £300 anyway so they weren't affecting any honest quotes. Must have just been a money grabbing scheme. They came out cheapest for my tesla quote but I'm never using them again!

 

[tdingene]

i have been checking comparison sites daily and not getting anything under £1100-£1300. I got quotes in May because i was worried what it might be and had several around £700 so not sure whats happened since then. I have 10 years NCD, park on drive and don't live in London. I am currently with Aviva and got a quote for £690 in May from them still in my email but its expired obviously and now Aviva wont even quote on Model Y's. I just don't get it.

Direct line has been the cheapest at £1090 for their premium option including EU cover, NCD protection and legal cover so I guess I will go with that but will hold off a little longer to see if prices drop but I won't hold my breath.

 

[MrT3]

They don’t seem to even have the RWD in the US yet…

View attachment 849583

LR RWD existed at launch in the US and people ordered them but I think Tesla cancelled it before delivering any. Not sure if it existed in any other countries.

 

[Algeron45]

Very high insurance for a Model Y and seems to have gone

i have been checking comparison sites daily and not getting anything under £1100-£1300. I got quotes in May because i was worried what it might be and had several around £700 so not sure whats happened since then. I have 10 years NCD, park on drive and don't live in London. I am currently with Aviva and got a quote for £690 in May from them still in my email but its expired obviously and now Aviva wont even quote on Model Y's. I just don't get it.

Direct line has been the cheapest at £1090 for their premium option including EU cover, NCD protection and legal cover so I guess I will go with that but will hold off a little longer to see if prices drop but I won't hold my breath.

Wow a Tesla could cost us twice as much each month with energy increase and now insurance costs climbing. Worth it for the tech and a play but might have to stay on the drive. lol. Crazy world.

 

[Algeron45]

How have you guys found insurance costs to be?

I’ve just run quotes for my incoming Model Y, insurance to start 8th September and I’m amazed how expensive it is.

Coming in around the £600 mark. For context, my previous cars were £80k-list Land Rover Discoveries bought new in 2019 and 2020. I paid £350, £330 and £290 for the last three years.

No claims or convictions and I’m 50.

Have you added a second driver.

 

[WllXM]

How have you guys found insurance costs to be?

I’ve just run quotes for my incoming Model Y, insurance to start 8th September and I’m amazed how expensive it is.

Coming in around the £600 mark. For context, my previous cars were £80k-list Land Rover Discoveries bought new in 2019 and 2020. I paid £350, £330 and £290 for the last three years.

No claims or convictions and I’m 50.

Insurers know that your 80k Land Rover will spend a lot of time either broken-down on your drive, or at the dealership for faults repairs. Hence the low mileage risk premiums

 

[MattM76]

Word of warning for previous claims and convictions through a comparison site...
I'd put my details including 3 points on my wife's licence on compare the market and ended up going with Hastings. Stayed with them for a few years and out of nowhere they tried to put the policy up from about £300 to over £2k. I eventually got through to them and they said they 'found out' about the points and that I hadn't disclosed them (i absolutely had!). I had to cancel the policy and pay a couple of hundred quid for the pleasure. They had me over a barrel and there was nothing I could do. Every other quote I got with the points was around £300 anyway so they weren't affecting any honest quotes. Must have just been a money grabbing scheme. They came out cheapest for my tesla quote but I'm never using them again!

A good point. A lot of quote portals now ask for your drivers license number and they can pull convictions from DVLA automatically.

 

[Algeron45]

A good point. A lot of quote portals now ask for your drivers license number and they can pull convictions from DVLA automatically.

I notice the compulsory has increased with the premium being similar or maybe a little higher.

 

[pgkevet]

Had a renewal email from Churchill which showed an increase of £215 so I made contact online asking the reason why as it’s been £33? For the last two years. After many questions I had to confess two driving offences (speeding), so expected that to be the answer to my query, then followed the bad news that my premium would go up to £639.
I decided not to go ahead at the time and checked out MoneySupermarket.com filling out all my details including claims and convictions, and to my amazement a quote appeared of £339 with Churchill. I rang them and they told me a renewal was £639, but a new quote would be £339. Joy of joys

When you see something like that you know that all the talk about actuarial liabilities is cr@p and it's all a case of stiff who you can.

 

[EchoOneZero]

Had a renewal email from Churchill which showed an increase of £215 so I made contact online asking the reason why as it’s been £33? For the last two years. After many questions I had to confess two driving offences (speeding), so expected that to be the answer to my query, then followed the bad news that my premium would go up to £639.
I decided not to go ahead at the time and checked out MoneySupermarket.com filling out all my details including claims and convictions, and to my amazement a quote appeared of £339 with Churchill. I rang them and they told me a renewal was £639, but a new quote would be £339. Joy of joys

If they’re quoting you more at renewal than a new policy then you might want to direct them to this

PS21/11: General insurance pricing practices - amendments

In May 2021, we published PS21/5 which set out our final rules to address the harm we had found in our GI Pricing Practices Market Study. On 18 August, we published PS21/11, making minor changes to these rules.

www.fca.org.uk

As of Jan 1st they can’t quote renewal customers more than new customers….

 

[MashinBenzin]

Have you added a second driver.

Yes, she makes it cheaper

 

[MashinBenzin]

Insurers know that your 80k Land Rover will spend a lot of time either broken-down on your drive, or at the dealership for faults repairs. Hence the low mileage risk premiums

Second one was faultless over two years. First did have a sensor issue that repeated a second time hence there being a second Discovery for free. Like for like loaners though if a car is off the road, LR are awesome imho.

 

[Steerpike]

Insurance is due for renewal and I had an email from John Lewis Finance telling me how great they are and inviting me to get a quote, so I thought I would have a look. They let me fill in all the details and then at the very end displayed "We are unable to quote". This can only be because it is a Tesla (Model Y) and that was the first question that their system asked, tedious waste of time, I should have known better.

 

[MattM76]

I had that a good few times. I hope in a few months the industry catches up that the Model Y exists and it isn't 5000bhp.

It could be worse, a friend is due to pick up an MG4 in 10 days but no insurer has the car on their systems and said to try again on collection day.

 

[Chimpy McChimp]

Ive been running some quote requests but not expecting my Y until end of year. Something I have noticed that I'm getting wildly varying quotes. Best from a comparison site was 500 per year (not sure if that included business miles which unfortunately as I have a company car allowance I have to provide proof of this, even though I work from home and only ever drive to the airport for business trips!) To well over 3000. And one (I can't recall who just wouldn't even quote)

I did a direct line quote back at start of August and they quoted 1200. Today I tried again and got 719. Hopefully (where's my Hopium dealer when I need him) I'll see some better quotes as it gets closer to delivery time.

Edit: flow, who were cheapest a week or so back are now saying they can't insure me!!

I think as we have gone to a 1 car family my wife and I are going to have to both go through this process to see who gets the cheapest offer!!

 

[Pebkac_]

So just finished reading this thread as my new Model Y comes on Monday and I just started trying to get insurance.

My case is the car is a company lease through my own business.

I have been driving 25+ years and whilst I have made no claims, as previous cars were on fleet (all business users could use them) then I dont have any NCD.

I do about 15k miles per year give or take.

My normal insurance provider has comes back with £1500

Been through comparison sites etc and excluding the ones with a little box, then the cheapest I got was by calling Admiral and they gave £1162 if we move my wifes Gold to them as well and make use of their multi car insurance.

That was with £500 voluntary and £500 compulsory excess

It's madness, I am not a 19 yr old boy racer and haven't gone for a performance model car.

 

[Algeron45]

I remember people raised the high insurance for the the Model 3 when it was first launched.