[msimega]

Hi All,

2 Questions about Insurance....

Does anyone know how quickly new cars get put on the Insurance Databases in the UK, At the moment only the original "Ioniq" vehicles are shown on any UK database.
I wanted to start getting quotes for the car to get an Idea how much the car would cost to insure, but cannot at the moment...

Which company is generally best for EV insurance, been told that Direct line is quite good and LV but as I have never had an EV before would like people who have already gone through this to point me in the right direction

Many Thanks

Phil

 

[BimbleEV]

With Tesla the insurance companies used an existing model to list the Model 3 for example and adjusted accordingly. I think took another month or so to be properly listed.

Circumstances are different for everyone but so far LVE have come out best for me except they have a high excess for a Tesla.

If not specifically listed maybe try another similar EV and run it by calcs for Money Super Market, Confused, Go Compare etc. To see which companies are favourable for your situation and then phone the top few direct.

 

[msimega]

With Tesla the insurance companies used an existing model to list the Model 3 for example and adjusted accordingly. I think took another month or so to be properly listed.

Circumstances are different for everyone but so far LVE have come out best for me except they have a high excess for a Tesla.

If not specifically listed maybe try another similar EV and run it by calcs for Money Super Market, Confused, Go Compare etc. To see which companies are favourable for your situation and then phone the top few direct.

Thanks for your reply....

 

[Signpost]

Hi All,

Does anyone know how quickly new cars get put on the Insurance Databases in the UK,

I asked this question at the ’event’ a few days ago and a helpful staff member said that Thatcham had already Provisionally allocated Group Ratings, so Insurance Companies should be aware. The figures may change later when Cars are provided for Thatcham to test.

The young lady disappeared to her Office and came back with this:-

It was suggested that the Project 45 would be in the same Group as the Ultimate 73kWh AWD.

 

[msimega]

I asked this question at the ’event’ a few days ago and a helpful staff member said that Thatcham had already Provisionally allocated Group Ratings, so Insurance Companies should be aware. The figures may change later when Cars are provided for Thatcham to test.

The young lady disappeared to her Office and came back with this:-


View attachment 146858

It was suggested that the Project 45 would be in the same Group as the Ultimate 73kWh AWD.

Thanks for that

Just rang Direct Line, will not quote for the Ioniq 5 yet (too Early) so I thought I would get a quote for my current car as the insurance runs out end of this month, so would only be with my current car for just over a month, after that I could amend the policy when the P45 Arrives - Jesus they are expensive - My Insurance has always been around £280 - Direct Line want well over £500

My current performance car is also group 41 Insurance

 

[dpl]

I asked this question at the ’event’ a few days ago and a helpful staff member said that Thatcham had already Provisionally allocated Group Ratings, so Insurance Companies should be aware. The figures may change later when Cars are provided for Thatcham to test.

Parkers has those groups listed too: Hyundai Ioniq 5 SUV (from 2021) Insurance Groups | Parkers

 

[Brian G]

LV seem to be good for EVs try them?

 

[Signpost]

Thanks for that

Just rang Direct Line, will not quote for the Ioniq 5 yet (too Early) so I thought I would get a quote for my current car as the insurance runs out end of this month, so would only be with my current car for just over a month, after that I could amend the policy when the P45 Arrives - Jesus they are expensive - My Insurance has always been around £280 - Direct Line want well over £500

My current performance car is also group 41 Insurance

Having had a similar problem with one of the first Kona Electrics in September 2018, I started enquiries in May of this year in connection with a possible Project 45 Car. Needless to say I didn’t get very far but what I did find is that whilst Call Centre Staff are supposed to be aware, most do not know about a procedure for initially substituting a similar vehicle to get a quote.

This is nearly always subject to later amendment but in my case LV honoured the price for a whole year when they substituted the highest powered Petrol Kona for my Electric one. In these circumstances I find it best to speak to a Manager with the appropriate Company, in the first place. In this regard I have had success with Direct Line and others.

I am no longer with LV as they apparently got into financial difficulties and have been taken over by Allianz who are not so competitive. The Company still trades under the LV name. As a matter of interest, I believe that Allianz provides Insurance Policies on behalf of a number of Car Manufacturers but in my experience they are not cheap.

Not sure what you were expecting but to me £500 seems reasonable and the Policy no doubt has the usual high Excess that most Electric Cars seem to attract.

Slightly confused by your last paragraph as the AWD Ultimate is apparently in Group 44P.

Good luck.

 

[motmot]

Lv was the cheapest for me… (id3)

Didn’t have my exact model listed so just went with the closest on their list.

Btw, VW’s insurance was only £5more…

 

[msimega]

Slightly confused by your last paragraph as the AWD Ultimate is apparently in Group 44P.

Good luck.

You are correct - I looked at the wrong line , like you say should be 44p. With the £500+ quote that was for my current car with the same details, that would mean that my insurance for my petrol car has gone up by over £230 in a year (Obviously I now live in a war zone ). I know that EV's are usually more expensive to insure, and I expect that, but that is offset by no vehicle tax.

Thanks for the information