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Discussion Starter · #1 ·
After years of insurance not really increasing much the best quote I can get for insurance for my Kia e-Niro from Compare the Meerkat is £484. About £100 more than last year. I was toying with the idea of a Tesla Model Y until I saw the best quote for that vehicle is £927! Have the electricity bills for the insurance companies gone up that much? What's happening to the car insurance market?
 

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ID3
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483 Posts
I wonder if more ev are ending up in hedges/ditches as more normal folk buy them?

I'm renewing in two months. Since everyone says the id3 is boring , hopefully only boring ditch averse people buy them 😆
 

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My guess is that prices and lead times for replacement vehicles have increased, and prices for repairs increased. Plus the practice of price-walking (increasing premiums for people who don't bother to shop are each year) has been banned, so they need to recover that margin somewhere. Thanks government!
 

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Yeah as a 3 month old newbie to EV's this was a surprising area for me. This was in end of October I got my insurance. Got a lot of good advice from old hands on here (there's a lengthy thread I started about it somewhere which may be worth you searching for and reading).

I went from £970 with LV to (get this) £370 with Admiral!. Rough numbers from memory but no more than a few quid off the mark. That was using one of the search engines and then calls in. Ironically and stupidly, when we got the LV quote we thought it probably quite good given the nature and price tag of the vehicle.

And even when I added in every 'ridiculous / never going to happen extra' including Euro breakdown and recovery, LP, Key loss, the idiot lot .... it still came to less than £450. And I took it with the lot given that was still a great price I thought. (my 94 106 costs £190 a year to insure :) ) That was for a high spec EQS with a fairly hefty price tag.

Interesting Direct Line and Direct Line Select would not insure it. They said there were voodoo things that were not yet agreed between their underwriters and Mercedes.

So that's quite a spread ..... and I should say the LV quote whilst competent did not include like for like The base Admiral one or the enhanced Admiral one.
 

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Tesla Model Y LR '72 & Nissan Leaf 24 '64
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prices and lead times for replacement vehicles have increased
Not for Tesla ;)

Tesla are always expensive, they are all on highest category. My insurance cost went 4x when I went from Skoda Octavia to Model Y.

But Leaf insurance cost has gone up only slightly last renew. So it depends on the car I guess.
 

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2022 Tesla Model 3LR
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why is tesla top group? Its a £50k car sitting alongside crazy expensive cars like Bentleys or VW Phaetons. Seems disproportionate

A base Porsche Taycan is only Group 48
 

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Skoda Enyaq iV60
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Problem is premiums are defined by cost of car plus cost of repair. Both are going up, so double whammy...
I actually think Premiums are more decided by your post code.
I went from a Renault Captur costing £300 with 6000 miles to an Enyaq with 8000 miles for £458.
Realised after 3 trips to Denmark, that 8k miles wasn't gonna do it, so called in and asked for 12k miles.
Short story long, i made it 15k miles instead for the net price of £4.57 for the remaining 4 months
When i renewed in November just gone, price had dropped to £410 - with 15k miles for the full year
 

· I'm not crazy, the attack has begun.
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If you design a car to do 0 to 60 in 2 seconds, why wouldn't it be in the top insurance group?

I have been trying out insurance on older, small, sub £30 VED ICE 'possibles', all very slow (I just wasn't using the Passat, so if I am going to have a car sitting on the drive doing next to nothing then it's got to cost me next to nothing), and I am getting quotes of £102 (£144, with £42 cash back).

£258 for my Model 3 with Churchill ( Group 49).
I'd say a bargain for gp 49. There are cars that seem to come up at higher premiums than that for me, things like Fiesta 1.0L ecoboost was higher.
 

· I'm not crazy, the attack has begun.
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Low £400s for me, for a M3.

The difference, alone, in annual insurance cost is enough to fuel the ICE cars for a year that I have been browsing. I guess to the OP, yeah, insurance companies have figured out they cost a lot to fix.

It's probably from the fuel costs from all the BEV owners insisting to be paid if they get given an ICE loaner for the 4 months it takes on average to repair a BEV.

What's the lowest insurance group BEV, to test premiums against?
 

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Discussion Starter · #17 ·
Go compare coming up with £1143 for me for Model Y. Ok I have an SP30 but that's never made much difference in the past. I also need business use but again adding this doesn't seem to increase the quote.
 

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Mercedes EQC 400 4matic
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There are some funny beliefs out there, below a link that gives a very good pointer to some of the factors involved in car insurance. re Tesla they may be grouped higher due to higher repair costs associated with parts and or labour relating to the way they are constructed making a repair longer than on other cars, replacing a front wing for example, what effect for example does the glass roof have on rear quarter repairs? I do not know the answer but it is something that may be contributing. There is also the very speedy acceleration in the very expensive sports car territory of yesteryear ie pre Tesla such power in inexperienced hands may well be leading to more accidents for Telsa drivers than others. No one has mentioned one of the biggest drivers in the recent past of higher insurance premiums and that is higher third party claims costs Caused by the ambulance chasers and greedy claimants. next time you hear someone boasting in the pub of how much they secured from an insurance claim remember you are paying for it.
The advent of computers has enabled underwriters to drill down in much more detailed ways than before so they can be more precise in their assessment of the risk posed by the person seeking insurance, from the age, car, address, occupation etc etc. At this moment in time with prices rising generally it is only to be expected insurance will too and in relation to BEV supply constraints re parts may well be an additional factor leading to more cars being written off on the basis repair times are too long and or prices too unstable thereby leading to write offs proving more a economical approach.
 
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