You are not alone, they seem to be cancelling every Tesla contracts and then massively increasing the price... what you have received I would say already seem much more reasonable than what others have reported.I just received an email from AXA that it wishes to cancel my 3 year prepaid insurance. It offers to refund part of the unexpired premiums (about $4,000 for 10 more months of coverage). It offers a new policy which would cost over $14,000 per annum with a ridiculously high deductible. Highway robbery!
I do not understand how an insurance co could cancel a 3 year prepaid policy and hoped to get away with refunding the unexpired premium. Does not sound very ethical to me!
I have seen AXA renewals asking for $30k and up to $60k for Model S where the previous year were only $10k...
Many cases these fellow owners had not claimed before
I think it has more to do with the current Tesla Body Shop Partner (Kingsway), they are well known to be dodgey and super expensive.Basically telling everyone in a very indirect (or direct) way that they can't afford your business.
Killing FRT wavier probably contibuted to this as a lower volume of vehicles being sold in HK resulted in less or no economies of scale for the region (parts and labour got more expensive with each claim).
I think it has more to do with the current Tesla Body Shop Partner (Kingsway), they are well known to be dodgey and super expensive.
Otherwise HK actually has one of the highest density of Teslas anywhere... FRT does affect it somewhat for total loss considerations but hardly enough to warranty the colossal increase in premium...
While crash repairs are very expensive compared to other cars... but it's not crazy amongst other aluminium bodied cars... it just takes a stupidly long time compared to others... but you dont see other insurance companies going crazy on their prices... so I think AXA is just bitter and even more bitter after Tesla has switched to Liberty...
I has been known that AXA cancels your insurance after you make a claim and in some cases knows that you are about to make a claim... but after the switch... they are mass cancelling their Tesla contracts...
Axa insured from a purchase mid-year 2017. No claims during the period insured, a 60%NCD, in truth no claims well over 10 years and renewal quote from AXA a full 224% increase!!!!!!!
When asked why the significant increase reason gave the number of claims by OTHER Tesla drivers in 2017! A total of 5 in all.
Kwiksure though more reasonable still only offering with a general excess of 10% value of the car before any payout. 70K excess for any claim. Reason given cost of repairs with Tesla. In truth who would claim and lose 60%NCD ... rigged
Feeling like insurance companies are exploiting the situation though Tesla could do more to reduce the cost of repairs.
Any more suggestions for "reasonable" Tesla car insurance.