Tesla NZ model 3 Insurance recommendations

[Audietron]

Hi,

About to receive my Tesla M3 this Sunday so sorting out insurance...

I had been AA Insurance loyal always - but AA insurance said $4400/year, AMI says $1600/year, State says $2000 with minimum 2000 excess... prices are all over the place. Yet to receive quote from Vero.

Any recommendations, prior experience? coverage among providers? discount or referral codes?

 

[m3lol]

First year definitely recommend getting Vero through Insure My Tesla.

they are the only one who provide excess free glass cover and a 2-year 40k, new replacement.

i believe my first year’s premium was $2,022. My renewal offer has come in at $1,900 with a lower sum insured.

Hope that helps

 

[khayyam]

There are several old threads. Have a search. Agree that AA doesn't seem to want the business. AMP is also worth a look.

 

[RobDickinson]

Just renewed with AMP for $1150 for a performance (my 3rd year)

They count the glass pano roof as boxy so would cost you more excess if it breaks, they also offer a new for old car in the first year (vero offer it for 2 years).

They are underwritten by vero and your policy document comes from a vero email account....

 

[Audietron]

Just renewed with AMP for $1150 for a performance (my 3rd year)

They count the glass pano roof as boxy so would cost you more excess if it breaks, they also offer a new for old car in the first year (vero offer it for 2 years).

They are underwritten by vero and your policy document comes from a vero email account....

With my audi it was always agreed car value insured for year on year... means if I keep insuring my car for full amount of new car, they pay me insured amount if car written off...
So finding it complex to understand what's new term replacing the car?

 

[Audietron]

There are several old threads. Have a search. Agree that AA doesn't seem to want the business. AMP is also worth a look.

I read thru them, but once started calling insurance providers found that all info are outdated... probably due to constant price changes by Tesla?

 

[Audietron]

First year definitely recommend getting Vero through Insure My Tesla.

they are the only one who provide excess free glass cover and a 2-year 40k, new replacement.

i believe my first year’s premium was $2,022. My renewal offer has come in at $1,900 with a lower sum insured.

Hope that helps

Hmm... I like old school simple terms like agreed sum insured. AA giving the same by allowing me to insure car for higher than purchase price to cover accessories and PPF wrap, except they seems to be getting greedy now.

waiting on Vero, as they have multi level approval process to issue insurance for new tesla - being official partner I thought this was a cup-cake product for them - approved with fix premiums with condition of additional premium if any existing claim history.

If only life was simple and autonomous like Tesla... wait, even Tesla is not fully autonomous

 

[RobDickinson]

With my audi it was always agreed car value insured for year on year... means if I keep insuring my car for full amount of new car, they pay me insured amount if car written off...
So finding it complex to understand what's new term replacing the car?

In the first year they pay out new price

 

[Pwhizz]

I am also getting my M3 this Sunday, woohoo!

I have a quote fromVero and it has been the only reasonable one. Includes full cover for the glass roof, and $500 excess. I know two other Tesla owners, one went with a specialist insurer for high end/performance cars but the policy is definitely more expensive. The other went with AMP. I have told Vero I will take their policy and am just waiting on confirmation now

 

[Audietron]

I am also getting my M3 this Sunday, woohoo!

I have a quote fromVero and it has been the only reasonable one. Includes full cover for the glass roof, and $500 excess. I know two other Tesla owners, one went with a specialist insurer for high end/performance cars but the policy is definitely more expensive. The other went with AMP. I have told Vero I will take their policy and am just waiting on confirmation now

Congratulations on new car...
I am picking up car at 0900, probably the first one in-out for Sunday.
I am contemplating between AMI and Vero. I found following Pro/Con for going with AMI

• Pros
  • $500 excess from day one
  • Can cover accessories and total amount upto $90000, which is agreed value - vs - Vero is fixed value.
  • If car is written-off, paid in cash, so instead of going for Model 3, can go for any car, including model S/X and cybertruck subject to availability.
  • If car stolen or written-off or in accident, personal belongings are covered upto $500
  • You get 21 days cooling down period to change mind and go with Vero or anyone else giving better deal.
  • no excess period after incident for rental car cover - vs - 7 days excess period with vero.
• Cons
  • New car replacement is for 1 year vs Vero's 2 years... little confusing as there is also sum insured.
  • Vero gives rental cover with $150/day for decent rental car - vs - AMI gives compact car only.

not so hard to decide, still it's hard to walk away from AA insurance after staying loyal for 10 years.

 

[Pwhizz]

Congratulations on new car...
I am picking up car at 0900, probably the first one in-out for Sunday.
I am contemplating between AMI and Vero. I found following Pro/Con for going with AMI

• Pros
  • $500 excess from day one
  • Can cover accessories and total amount upto $90000, which is agreed value - vs - Vero is fixed value.
  • If car is written-off, paid in cash, so instead of going for Model 3, can go for any car, including model S/X and cybertruck subject to availability.
  • If car stolen or written-off or in accident, personal belongings are covered upto $500
  • You get 21 days cooling down period to change mind and go with Vero or anyone else giving better deal.
  • no excess period after incident for rental car cover - vs - 7 days excess period with vero.
• Cons
  • New car replacement is for 1 year vs Vero's 2 years... little confusing as there is also sum insured.
  • Vero gives rental cover with $150/day for decent rental car - vs - AMI gives compact car only.

not so hard to decide, still it's hard to walk away from AA insurance after staying loyal for 10 years.

As my other policies are already with AMI I have my contents covered no matter what as their contents policy covers my items no matter where they are, with no maximum amount (and I know they honour it as I have had to claim when my car was broken into twice in a year a while back!)

If it makes you feel any better, AA are underwritten by SunCorp/Vero anyway. Though it sounds like AMI might be better for you. I may actually check with them again since I existing and see if I can get a similar cost per month quote to Vero

 

[Audietron]

As my other policies are already with AMI I have my contents covered no matter what as their contents policy covers my items no matter where they are, with no maximum amount (and I know they honour it as I have had to claim when my car was broken into twice in a year a while back!)

If it makes you feel any better, AA are underwritten by SunCorp/Vero anyway. Though it sounds like AMI might be better for you. I may actually check with them again since I existing and see if I can get a similar cost per month quote to Vero

My bad... it was actually AMP insurance.... not AMI
However, still by Vero...

AMI were real bad as they said $2000 excess and $2900 premium.... almost like they weren't looking for my business. they decline to give quote on email.

 

[Crafty1]

Hi,

About to receive my Tesla M3 this Sunday so sorting out insurance...

I had been AA Insurance loyal always - but AA insurance said $4400/year, AMI says $1600/year, State says $2000 with minimum 2000 excess... prices are all over the place. Yet to receive quote from Vero.

Any recommendations, prior experience? coverage among providers? discount or referral codes?

Try MAS (Medical Assurance Society). They insure cars for professionals/business people etc. 0800 800 MAS. The insurance for my Tesla Model 3 was very reasonable and includes the battery. Robbie

 

[Dave6]

Hi,
I have not purchased a Tesla, but I want to, but when it came to finding out insurance information before purchase, it turned me off purchasing said Tesla. It's unfortunate because I believe Tesla is the best EV to date but if I can't insure it for a reasonable price, I'm forced to consider other options.

 

[Audietron]

Hi,
I have not purchased a Tesla, but I want to, but when it came to finding out insurance information before purchase, it turned me off purchasing said Tesla. It's unfortunate because I believe Tesla is the best EV to date but if I can't insure it for a reasonable price, I'm forced to consider other options.

Well, Audi fan here now Tesla Owner.... I insured my car for 5K over purchase price with no issues. all cover and benefits are same as any other car. So I can vouch that Insurance wouldn't be a deal breaker as it's same as every other car, or little less as I am definitely paying less than my Audi A8L before...

I hope that helps... buy a Tesla or not is your call, but Insurance is not bad.... I went with AMP as turns out in market AA, AMI, State, AMP everyone is actually have underwriter Vero (Tesla's insurance partner). so it's same outcome regardless of with who you go.

 

[m3lol]

Hi,
I have not purchased a Tesla, but I want to, but when it came to finding out insurance information before purchase, it turned me off purchasing said Tesla. It's unfortunate because I believe Tesla is the best EV to date but if I can't insure it for a reasonable price, I'm forced to consider other options.

is insurance cost what’s putting you off?

my model 3 insurance premium is about twice my previous ICE car (2010 VW Golf) - $800 vs $1500.

seems like a small amount considering the savings in petrol and yearly servicing alone.

 

[Audietron]

Hi,
I have not purchased a Tesla, but I want to, but when it came to finding out insurance information before purchase, it turned me off purchasing said Tesla. It's unfortunate because I believe Tesla is the best EV to date but if I can't insure it for a reasonable price, I'm forced to consider other options.

If you looked at insurance premiums at AA, you might get heart attack... 3 times compare to AMP I went for...
I was AA loyal for forever, but for electric cars they are so armature and expecting cars to have issues with things what electric cars don't have...

 

[RobDickinson]

Hi,
I have not purchased a Tesla, but I want to, but when it came to finding out insurance information before purchase, it turned me off purchasing said Tesla. It's unfortunate because I believe Tesla is the best EV to date but if I can't insure it for a reasonable price, I'm forced to consider other options.

Some companies have huge premiums for these, easy answer is insure via others.

AMP do my Performance for $1150, thats damned good for a 500bhp $90k saloon

 

[Dave6]

Some companies have huge premiums for these, easy answer is insure via others.

AMP do my Performance for $1150, thats damned good for a 500bhp $90k saloon

That certainly is a good price. I've been quoted $2674 for the performance and $1656 for a second hand SR+ from BNZ. I rang state and it just seems too hard for them, they need to talk to their 'under writers' I would have thought Tesla's minimal range of vehicles would have made it easier for them.
I'm struggling to remember AA's quote because it was ridiculous, about $4,400 I think.
I applied online for a quote from MAS earlier today (As per @Crafty1 advice). I'll wait for a call from them.
I'll also approach AMP tomorrow to see what they have to say.
FYI: I'm a 50 year old, with full license for 35 years with no convictions and no accidents for more than 5 years so I don't see why it should be so hard....

 

[RobDickinson]

AMP do online quotes, I'm 50 also, same etc.

TBH not sure why most either dont want to deal or put high premiums on, model 3 was NZs best selling car last month its no exactly special.