Can we switch the Car Insurance industry Off and back On again?

Car Insurance. Its one of the big costs of motoring, and there's a lot of news stories about how expensive it is. So I wasn't exactly looking forward to renewal time - not after last time.
The Good News - my renewal quote is only a 10% increase. Only. But that is with my existing provider, and there's always a cheaper deal. Isn't there?
I delve into the crazy world of insurance brokers. And like last year, it does NOT go well...
Last year's Insurance Chaos • I look for cheaper Tes...
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[@Jonathantuba]

The quicker Tesla’s own insurance is offered in the UK the better

[@ColinStone]

By coincidence, I have just been looking at Tesla own insurance which does seem to be available in the UK. Bear in mind I am in my 60s full no claims discount only drive about 6000 miles a year et cetera. The essential cover was 2800 a year, preferred cover is 3300, complete cover is £4129. That seems to be even worse than the usual insurance companies by a massive margin. If something isn’t done about this the adoption of EV will be dead in the water. I’m inclined to think there is a deeper plan to stop people driving altogether

[@KevinMayle-fe1cy]

I just found the same with Tesla’s own insurance double what I was getting for brand new MYSR. The AA quote came out the best and second cheapest was Admiral who we are currently with. Thanks Ian for the great videos. I have this week “ Just Got A Tesla “ well we collect it next week

[@OhArchie]

"Stupid" and "Expensive" seem to be words that are comfortable alongside other words and terms like "EV mandate" and "Net Zero". Insurance rates aren't about *your* lack of claims, they are about managing pools of risk. Like it or not, EVs present higher costs when claims are made than do petrol or diesel vehicles. Intervention by the government will only worsen the situation.

[@nickclarkuk]

My Honda jazz is around £400. It’s still expensive but holy moly I had no idea other cars were so expensive!

[@issiewizzie]

This is why I signed just a two year Model Y lease ..... and will revisit August 2026 FYI I live in london and my insurance for MYRWD was £1650 . Had a Lexus IS hybrid before then that was £600

[@RickLoren-ni5pf]

I love in North London, park on the street and own a 2017 Tesla model S. Mileage of about 5000 per annum. Full no claims. No points on My licence. My insurance doubled to £2800 this year. The original insurer stated that they were not insuring evs any more. Great business model. Agree we should all write to our mps.

[@tonyeagle3912]

Well,well,well!. What is going on? I have ordered my first Tesla, and yes, a Model Y. My current insurance provider gave me a fully comprehensive quote of £2,300 (currently paying £616 for my Mazda MX30 that is going). They told me that this was the very best price they could offer. So, not surprisingly, I shopped around and Bingo: covering both me and my wife, including the normal personal injury protection etc, etc for a full year, a shade under £1100 and from an Insurer I spotted within your video Ian. Therefore, I’ll worry about next year’s renewal, next year! Enjoy your posts enormously, keep them coming.

[@skittlesrandom]

A sad but good video, the part I don't understand, I went from a yaris hybrid 2021 to a Tesla model 3 long range 2022, 3x as fast double in value and it cost me £14 more a year but going from a honda civic type R 2017 to the yaris was double despite being half the value and half the speed, it just doesn't make sense!

[@mcrunk1977]

Never use insurance for things you can afford. It’s for life changing events/costs. It always costs more than you claim otherwise as they all bump the cost up after the claim

[@jamesm90]

Teslas probably crash more from the drivers fiddling about with the stupid LCD menu controls. My 3.0L Subaru is less than £300 pa to insure. Get a big old petrol saves you a fortune.

[@kevingreen8581]

Interesting. I find each year when I compare new car insurance quotes that I get a good deal from a previous insurer who knows me, as I had taken out insurance o my car one or two years before with this insurer. As I have had no claims they must see me as a good bet and give me a good deal. This seems to work every year for a group of about 4 insurers who know me from previous years. I always get the cheapest quote.

[@ColinStone]

I’ve just been looking at Insure my Tesla. Not sure whether this is anything to do with Tesla or not but the company is clearly geared to insuring Teslas. Their quotes go between 2800 and 4129 depending on the level of cover. I am in my 60s full no claims discount and drive less than 6000 miles a year. . That is for a model Y long range

[@B_r_u_c_e]

I suppose that it's comforting that I'm not the only crazy one.

[@stephengowler5360]

Insurance group 46-50. I got a quote last year at £2k+, so reluctantly bought elsewhere

[@mattbaker3797]

You say it’s not an EV thing but we have just updated the insurance on both our cars and this hasn’t happened to us. My Renault Arkana Hybrid’s renewal was up by £40 on last year and the new quotes were way cheaper at £410 while my wife’s Nissan Juke insurance renewal was £440 but we actually got it for £280. 🤔

[@justgetatesla]

It’s not me saying it’s not an EV thing, it’s the insurance industry, with statistics to prove it. My own petrol car costs buttons to insure but that doesn’t really prove anything

[@gallienus172]

Wow that sounds absolutely insane. You would think the price would go down.

[@BalintGulyas]

Total insane... For my MY Rwd with 2 other car on the same policy cost £1.6k... the 2 other cars was £920..Went with comparethemarket and went down the MY quote for £1.05k ( i believe they were checking your income and mapping the price with that too..) no claim no point having 7y ncd ( can't bring my 15y from Eu country...) complete madness..

[@robertcrowe424]

Hi Ian. Truly shocking Industry - is it a coincidence that sector profits have rocketed in line with premiums. Also just shocked to be told by NFU they have a blanket policy not to insure Tesla cars at all!! Why I have no ideas, especially given their safety rating

[@justgetatesla]

Thanks - that saves me the faff of ringing them!

[@rigel1632]

Sector profit was always going to “rocket” because the baseline was so bad on motor the last 2 years. Doesn’t mean it’s excessive when the market is likely to make £3 on every £100 of premium in 2024.

[@emw4325]

In June, I bought a Tesla model 3 performance, I’m 50 years old with full no claims and paid £490, on the face of it this seems like a bargain, although it didn’t feel like it at the time.

[@usefulrandom1855]

Yeah pretty good, when you consider its supercar performance!

[@loris2292]

Hi, I really think that the UK insurance industry is for want of a better word just ripping people off simply because they can. I've been running a Tesla Model Y rwd here in France for the last 2 year's and my fully comprehensive insurance including full European breakdown coverage cost me 354€ for the first year and 366€ for the second. My insurance is currently up for renewal and ive just bought a new Tesla model Y rwd but this time I've opted for the long range rwd and my latest quote has come in at 375€ and again this is inclusive of full European breakdown coverage and here in France as it's the car that is insured rather than the driver, my insurance covers any driver over the age of 25. Given that the European breakdown coverage costs me at least 100€ out of the 375€ then my fully comprehensive coverage is actually around 275€ for the year. So how can the UK insurance industry get away with quotes amounting to 6 x the cost of what I'm paying in France. I was under the impression that this was a regulated industry. Indeed, insurance goes up in price every year as mine has by about 15€ each year, which I always have a moan about to my broker. Like you I always shop around but since I have had Tesla, my current insurers AXA have always been the cheapest, although not by much.😢

[@nicksportster8711]

Hmmm…. the cynic in me is saying could this also be related to the latest ‘fluid pricing’ debacle (see the Oasis ticket rip off fiasco…)

[@justgetatesla]

Possibly!

[@graham5649]

Hi new to your channel, very informative. I've just done a quick quote on a comparison site as I'm thinking of maybe getting a 4 or 5 year old model S 100D next year and it came out as £868. I appear to be a similar age to you and like you only have a windscreen claim, social plus domestic and commute. That quote was also my existing insurer and like you say they are never the cheapest. What is going on? Obviously I don't know the age or value of your car but maybe it is your company setup causing the high price.

[@gavjlewis]

I think I'll stick with the buttons cars. 😂

[@juttley72]

780quid for a tesla model 3 for 13K miles driving, with full NCD. excess 600. double what i am paying for my land rover discovery 4 which is 12 years old and worth one quarter what i paid for the 21 plated model 3. not happy that the costs are increasing significantly. In the US, Geico (owned by Berks hathaway) confirmed in their yearly report that repair costs are down, claims are down but revenue is up. meaning they are opportunistically price gouging. what happens in the US happens in the UK. Yes inflation has not helped, but most of these increases will be down to generating profit. All publicly traded business exist to make a return for their investors.

[@usefulrandom1855]

Double the cost of your Disco, but x4 the value. Its hardly surprising its more expensive. Would be interesting to do a quote with an equivalent value Disco to Model 3.

[@juttley72]

@@usefulrandom1855 hi, I have just re-read my post and yes I appear to be whining of the cost increase for what I am paying, but I am not. I am making a general point that insurance overall is going up with evidence from warren buffets reports that this is more opportunistic price increases than real cost increases forcing up prices. I thought the Tesla insurance quote was going to be higher than what it actually came out at, although I should also have pointed out that this is my wife's car and she is the main driver with me on it. Women tend to get lower quotes than men. She is also a teacher and maybe that helps with keeping the cost lower. I do agree with the video, insurance across the board is going mad and it seems unjustified. cheers J

[@KenHobbs-f5j]

Mine has doubled over last two years and can confirm it’s not EV or Tesla specific…doubled on previous BMW. It has a significant part to do with Brexit. It is a UK specific problem. Due to additional supply chain costs.

[@alfie8137]

If the broker acts like this buying I would not want to go through a claim 😱

[@justgetatesla]

Yep, which is why I walked. I actually like my current insurance company!

[@ncb_uk]

A friend of mine who was an insurance underwriter for 40 years told me that the government banning the first year intro deals for new customers means the insurance companies are laughing all the way to the bank, less competition on renewal. Kerching 💵💷💴 😢

[@keithdenton8386]

Why does it cost more? I will tell you.A broken headlight on my Ford Corsair cost 15 pounds. Just about all headlights for every car were a standard size and a standard fit. My Tesla headlight is thousands. to replace. My Father In law got a tap from behind and broke his rear light, on his Audi. The chap said don't bother with insurance I will just pay it. After the quote he went through his insurance. It was nearly one thousand to replace. A back light.

[@GreenDriveIndia]

@@keithdenton8386 it is deliberate attempt from oem to make repair costly

[@Matthersch77]

The government needs to take a grip on this… it’s a legal requirement and companies are taking the mick massively to make money… if it’s needed by law, then apply maximum caps for increase like some utilities have…. It’s a joke at the moment. Let’s see the faceless insurance leaders squirm in a select committee meeting..

[@mrpugster]

I somehow feel the government aren't bothered since they will ultimately make money from the increased tax payed by the insurance companies. Government are out to f**k the motorist every which way.

[@fractalofgod6324]

@@Matthersch77 they don't care, just look at the supermarkets when they went in front of the select committee.... Price gouging at its finest.

[@anthonydyer3939]

They won’t get a grip. Massive price rises always means massive increases in VAT receipts (and insurance premium tax). You can be sure that whatever rakes in more money for the government will be allowed to continue to happen. If the government is to get a grip on anything, first you must tell them that they will lose money!

[@xperyskop2475]

Tesla has to get a grip and relase models with less than 200 horsepower and a speed limit of 90 miles per hour. Now the performance of tesla is on par of GTR sports cars from 1980-90 And everyone pays for it

[@anthonydyer3939]

@@xperyskop2475 they could solve it with a “software lock” for reduced performance that was logged in their system and accessible to insurance companies. Indeed, you could select “chill mode” and tell the insurance companies about it. If it’s selected, and logged, it’s only a matter of acceptance by the insurance. The question therefore: would it reduce your premium anyway? I suspect that it wouldn’t go down by much. If you’re a speed demon, your driving history would show the risk, not the car. But I suspect most claims by value happen below 30mph where excessive speed/acceleration isn’t an amplifying factor.

[@paulsnape1995]

I think you should try and get some Oasis tickets Ian. That’ll be a good video!!

[@wizzyno1566]

Ive just checked, and a Tesla Model 3 from 2022 vs an Audi A4 of the same value from 2022 would cost twice as much for the Tesla. So it's the Tesla. Stop pretending it isnt. And i want one, so im not an EV hater. But facts are facts.

[@justgetatesla]

The A4 would need to be the RS4 to be comparable. Remember that I have 507hp shown in the V5C. It’s the power that makes it Group 48. Don’t quote me prices for a 2litre petrol in group 25…

[@lesmorton4623]

It would appear to me that the insurance companies are operating as a cartel, which I thought was illegal in this country. Additionally they do, as you say, try any means to invalidate your policy, which means that the insurance that you take out is effectively worthless in the event that you have to use it, thus leaving you in deep do-do in the event of you being the responsible party in an accident.

[@john_hind]

If it were a cartel, all the prices would be around the same, high level. My quotes spanned a x3.5 range this year! Something is badly enshitified, but it is certainly not price fixing!

[@jonathanm9879]

It's nothing to do with performance. The cost of repairs and the waiting time for most electric vehicles is hilarious to say the least. You cant even get parts of the shelf for a Nissan Leaf let alone a Tesla. I wanted a Tesla but after being quoted £1900 why would I abandon my 13 year old £375 per year insurance cost Mondeo Diesel lol. If your argument revolves around performance then yeah, Lambo insurance prices are expected.

[@justgetatesla]

Parts are absolutely part of the story. But performance absolutely is as well - you can’t have this much power and speed without having to pay more

[@raymitchell3757]

Hi Ian, have been in exactly the same boat. My car model Y LR Sept 2022. 1st year £447.07, 2nd year £688.84, Just now £1,039.70. I am 68, retired, social driving only, live in Cornwall, 15k miles a year and 23yrs NCD. Total Xcess £600 Annual premium. WTF! My renewal was also the best quote. (Direct Line) Aviva wanted £2,250 and Saga £3,300, all with larger excesses. Insurance industry is out of control.

[@m9017t]

Problem is car repair costs have gone bonkers. Someone bumped into my parked car and the cost to their insurer to repair it was far higher than I thought it would be + courtesy car for me during that time

[@zarroth]

@@m9017t that, and minor damage to the underside of an EV totals it. It's a no brainer that insurance rates would skyrocket as a result and the new taxes and fee schedule, in the USA at least, will be starting to kick up in 2026. All these people thinking EV is saving them money are about to know pain. The carrot is about played out, the stick is coming and the suffering after that. Anything the gov is pushing, instead of the consumer, is automatically the wrong choice to make and you all fell for it.

[@enyaq_gorm]

One of the best things about moving from tesla to Škoda was going from group 51 to 23

[@Kevin-dp1vy]

No, the best thing was driving a Skoda!

[@Bazsoton]

My insurance for 1.5d qashqai didn't increased that much for last few years , maybe 40pounds more per year 😂

[@Kevin-dp1vy]

Its not just car insurance that has shot up. I am the director of a property company and one of our buildings had a medium size tree fall down in the grounds. The estimate from tree surgeons to remove it were over £5,000, due to where it is in the grounds so I called the insurance company to see if this would be covered. Turns out that it was not covered so I paid up and thought that was the end of the matter. When it came to renewal time the premium went up considerably so I called to ask why. I was told it was because we had made a claim which did not proceed. We changed insurance companies.

[@justgetatesla]

Crackers. Storm Arwen demolished a big tree in our garden and that at least was covered by the insurance. But jacking up your premium for a claim you weren’t allowed to make? Come on… 😂

[@wolf39us]

Am I the only one who hears “Invisible Touch” by Genesis every time you listen to his video intro? Ha

[@justgetatesla]

No sir...

[@wolf39us]

@@justgetatesla I’m not saying it’s exactly the same. But my musician mind hears the notes and immediately thinks of it lol.

[@leeedsonetwo]

All insurance costs are going up. As for electric cars, they are proving to be very expensive to repair and the batteries are just a huge risk. The move to electric is not well thought through.

[@wonkybear4400]

I've had a quotes recently for a Tesla M3P and Polestar 2 DM Performance both around £1000ish. I've also got a quote for an ICE Golf R which was over £2k. East London so was expected to be honest but its not just EVs. Its just the wild west and I'm not talking about East London :D

[@andrewthompsonuk1]

Before they switch the industry off and back on a number of laws need to be changed. Firstly compulsory insurance means it's a product we all have to buy. The competition would work better if it was optional as people would just stop buying it. So make insurance optional and encourage people to cover whatever they need to if they are hit by an uninsured driver. Second, the courts should not award damages in excess of what one is covered for. For example, if you do not pay for a rental car then you shouldn't get a rental car regardless of fault. These rental cars cost the industry dearly and in many cases, they are not needed. You could use the Hyundai for example if the Tesla was damaged. Third, the right of repair. Many cars are thrown away just because repairers cannot get hold of parts and repair information to perform the work. For example, there needs to be an industry in repairing EV batteries. Fourth, make it easier to remove the categories for write-offs of written-off cars with a proper inspection process. Once a vehicle is written off the stigma of a CAT marking on its records means its value is greatly reduced. However just as not written-off cars are repaired and have no such mark against them the repair of write-offs should be encouraged to keep residual values up. Fifthly, Many parts can be fixed (like bumper skins) instead of being replaced. Second-hand parts in perfect condition are usually a fraction of the price and are usually available without waiting months.

[@anthonydyer3939]

I think mandatory insurance isn’t going anywhere soon. If you’re uninsured and hit someone, you’re either bankrupt from that moment on for the rest of your life, or you’ve done a runner and left an innocent person to fend for themselves. But just be glad your’re not in Germany. It’s mandatory to have liability insurance just to be a human and be in a public place! End result: Invite some friends round for dinner and have them “accidentally” spill some red wine on your old carpet. You get a new carpet, courtesy of their insurance. You win, everyone else loses.

[@LooseWheelNutPod]

I have a Discovery Sport 2.0, my renewal quote came through last month. Aviva wanted £1300 for my renewal which had gone up from £850 no incidents nothing had changed bar one thing. In 2020 I was pulled and given 3 points for speeding (paid fine and 3 points on license) now the points stay on your license for 4 years. So this year my license is clean and back to zero points, but the insurance company want you to declare for the last 5 years (why?) same as yourself regarding the windscreen replacement they advertise that as a free thing but it clearly isn’t. This is not just a Tesla EV thing is is the whole industry.

[@marcusoutdoors4999]

We’re paying just under £500 for our 23 reg Model 3 dual motor, 10,000 miles of business use as a consultant for our own business, cheaper than the same value Audi Allroad the year before. We own our car though.

[@martinwhitaker5096]

I've insured 3 cars with Privilege insurance for over 10 years, I'm middle aged and in 2023 I paid £350 to insure a 1997 Landcruiser. Despite nothing having changed (except myself and the cars being a year older) they now won't even quote me on it! I tried several other companies and had the same result... what threshold have I gone over without realizing it?

[@MizraPaul]

The price of insurance will continue to increase while people claim for unjustified personal injuries and use credit hire/credit repair companies. Also the cost of repairing the modern motor vehicle has massively increased due to the complexity of the systems and materials used resulting in bespoke manufacturer-recommended repair methods.

[@colinwiseman]

I had to declare when my bike was stolen, but I got it back, never claimed and paid for all the damages myself. But because they didn't tell me it was a non claim claim, I lost money when I did have to claim. Was unfair.

[@anthonybrown4874]

Methinks the insurance industry do not like EV's and may not be keen on Tesla's for myself this years multicar policy was not too horrific 2 cars £620 with both our sons on one just one on 2nd cars ones 26 the other 24. Your risk factors must be offputting somehow.

[@john_hind]

Mine went up 50% last year and 50% again this year. Neither year did I bother contacting the company to haggle, I just went straight to the comparison sites and changed company. This year my quotes varied from around £800 to £2900! The latter was a members 'benefit' from RAC! I immediately resigned my membership, so if this was just a 'go away, we're not interested', they would have been better off not quoting at all. Although there were other quotes at well over £2000! Same car, same age as yours, though my milage is much less and I'm retired. What I cannot understand is how different companies can assess the same risk so radically differently when they have all the information!

[@justgetatesla]

Its completely crazy. As you say, many issue "go away" pricing as they don't want to say no.

[@rupetto1959]

same here i Italy company cars are always paying standard ensurance.. crazy

[@Chris-be1fo]

Maybe, if you switch to getting a job working with an insurance company with the same salary level, you’ll get cheaper insurance

[@angusnz7910]

When Goverment gets involved nothing ends well. While I believe insurance is a necessity these days as soon as it becomes law to be on the road the only winner is the companies who have a captive audience and can charge what they like. Here in NZ it’s advised bot not compulsory. Last year I got read ended by someone with none, my car got repaired and my insurance comment took the other guy to court and he’s paying $10 a week for years and years. You do you, and you take the gamble or pay the money. As soon as an anything is mandated the only winner is the company with a Goverment forced customer.

[@BrianCoghill-w7b]

Leased a model y rwd in may 597 with admiral. Similar age and location, full no claims. Probably much lower as I don’t use it for work and mileage is 10K

[@keithdenton8386]

Have you got glass cover. Not for your windscreen but for your roof. I had to pay more to get roof cover. A replacement roof for a Tesla is a fortune.

[@michaelmartin9022]

Also even back in 2002, when I started driving, you never paid the price you saw on comparison sites. They'd say one thing, but when you clicked "apply", "buy" or whatever it NEVER worked. When you went to that insurer and applied through them the real price doubled or tripled. Flight comparison sites are the same. London to Tokyo for £250! Yeah right. The whole purpose of those pages is to show you banner ads while they waste your time.

[@ranger178]

everyone's car insurance has gone up I complain to them all the time we had no claims our cars are older, but insurance is more each year.

[@paulc6766]

Seems to be a UK problem, why is that? My Tesla insurance is the same price as a Camry.

[@rugbygirlsdadg]

I've not had an issue with my Enyaq. Tesla will have an issue in the future I suspect when they start most of their cars in one piece. You'll then have a medium sized bump and have to replace the entire body.

[@Radhatter1]

Mine was £750 then £875 now £1,400 for a 2022 Model Y dual motor it’s insane

[@petersmith6520]

Paid 350 pounds on my 2010 Nissan Micra petrol

[@rufdymond]

Well I was just about to order a Model Y until I was quoted £1,024 for insurance - and this was the cheapest quote. My current car cost £267 - I’m not prepared to throw my money away.

[@justgetatesla]

Question then is how much you save on tax / fuel / servicing etc

[@ic2433]

I’m 51 with a BMW M135i and my renewal went down in price.

[@paulscott1759]

It's your own fault for thinking that the price will stay roughly the same mate ,everything is a rip off nowadays even my TV licence went up by £2.50p and I don't even watch the crap on it anymore, keep smiling pay your insurance and think of the clowns who don't bother purchasing insurance anymore as they think that are being clever until they are caught . Just as an aside funerals are costing more as well as the cost of gas has gone up and on that note have a great life haha

[@terrymackenzie6784]

I find myself switching between LV and Admiral each year and last year LV cost me £450 for my MG4 I've now got a model Y and they told me the renew will be just over £1000 (it comes up next month). I've just been on Admiral and they are quoting me £680 but I'm 8k mile pleasure only driver and that's what I expected the benefits of being retired :)

[@raypalmer7733]

You can understand why more and more people are saying "bugger that" and just risk it or just get the bear minimum to cover what YOU do.

[@mrexcet]

I thank my lucky star I live in Sweden. My new model 3 Highland was originally insured for one year in December-23 at a milage of 6214 miles/year at a cost of 413 GP. Since I this year drive a lot in work I had to increase the milage to 18 640 miles...The cost "sky rocketed" to 450 GP... When I hear the prices you have I am genuinely glad I sat down looking at this video. Your insurance situation is a funny farm totally... It's actually easier getting a good deal playing Bingo than getting a car insurance at a decent price... Horrifying at least. Thanks for a very informative video 👍

[@justgetatesla]

You’re welcome!

[@edc1569]

Problem is is the cost of fixing the cars, blame the manufacturers not the insurance industry, my runabout 1990s vw polo costs £90 a year to insure.

[@justgetatesla]

Yes, it’s worth about a tenner. That’s what happens. What’s your point?

[@mwhi475]

Well I have a Citroen C4 flair (a real car) and I pay around £300 PA , so you all should have thought about that before jumping on the EV bandwagon, and believe me its going to get much much worse for you as the insurance companies wise up to having to write off whole cars for minor damage to the battery compartment underneath.

[@justgetatesla]

They don’t need to wise up to that because it isn’t a real thing…

[@marthadoreen]

Yes, insurance nightmare. Of course the companies have us by the short and curlies. And I know all car insurance is rising absurdly…but I’m not convinced that ev owners, particularly Tesla owners, are not gettting ….er…. ‘Special Treatment’. My car is a couple of months younger than yours with similar mileage. My Admiral insurance has gone £1090, £1320 and I’m awaiting with fear and trepidation the new quote in a few weeks time. And yes of course I shopped around. And like you I couldn’t beat the renewal. So it’s no longer a competitive market. I think these insurance guys meet together in smoke filled rooms and say “Ok, stay resolute guys and let’s what we can get away with this year.” I want to bite someone.

[@justgetatesla]

The elephant in the room are the “claims management” companies. Insurers don’t want to manage claims themselves any more, it’s been offloaded to these 3rd party companies. As an example. I had Volvo insurance on my S90. Involved in a collision not my fault, rang the insurance company. Whilst they did a great job organising what happened next, it was passed to a claims management company who provided the hire car and organised repairs. And the V90 loaner was something like £150 A DAY in costs. With the repair estimate mysteriously taking weeks to do before approval was given. Most of the total cost of the repair was the hire car. Utterly criminal and we all pay for it.

[@azw409]

Insurers seem to hate Teslas. Model Y SR = £1100, Volvo C40 Twin (faster and more expensive) = £440. Go figure.

[@justgetatesla]

I hear it is because there’s this northern git who keeps making KZbin videos about his.

[@318ishonk]

My insurance goes down every year, partly to car depreciation and negotiating with the insurer. Skoda Superb from 2020. Just don't get a Tesla

[@justgetatesla]

Hardly comparable though from a power perspective…

[@SIMMO46]

LV quoted me north of £6000 for my EQC this year

[@zarroth]

whomever is telling you insurance rates are going up on regular cars is full of it. I have a 500+ hp car and it's going down steadily. It may be decreasing slower, but it is NOT going up. Sounds like cope to me.

[@justgetatesla]

Well I posted articles *from the insurance industry*. Anecdotage is not data. Your experience is not necessarily indicative of everyone’s experience. How is this basic point of comprehension so difficult to comprehend?

[@mode3fpv931]

Ive had a similar experence, last year the price for my Tesla model 3 performace insurance doubled - and that was my renewal quote - i couldnt find anything cheaper! I too tried a broker who, after speaking to them on the phone for over an hour, proceeded to give me the highest quote id had! When i questioned why it was so expensive they said that i was because it was an EV and repairers dont know how to ascertain if the battery has been damaged in an accident, so they just replace it! (why is that my problem). I have since found out the varying price thing with brokers, is dependant on the time of day that you request the quote - if you request it at a time when they are getting less business, it's cheaper (not by much though im sure). Anyway - my insurance is up for renewal again at the end of this month - wish me luck!

[@justgetatesla]

Good luck - sadly it sounds like you’ll need it

[@jamiefburnett]

Someone ran into the back of my Tesla model y. It was over 4 months of hire car costs for the insurance company because Tesla couldn’t supply the parts to repair the car. I ended up getting a green cycled tail gate to get the car back on the road.

[@justgetatesla]

Yep - parts are a problem! Reports of being true for other brands as well

[@axelc8611]

My model 3 went from 1.3k to 950 this year and I'm under 30 and have 9 year ncb

[@nicholaswilliams4532]

It’s become NORMAL for you to be ripped off

[@paddylogan13]

Im trying to ensure my daughter for minimal driving in a low power, low cost vehicle. We've decided that hiring a chauffeur driven limousine might be cheaper.

[@stevedunn3113]

I am 66, clean licence, no accidents for two decades and live in Wiltshire. I bought my Tesla M3 RWD in July 2023. Previously I had a VW ID.3 that cost £385 pa Fully Comp. Searching for new insurance saw absolutely bonkers quotes, but I finally settled on LV who offered insurance for £525. I went to the site to apply and literally as I completed the form the quote price increased, settling eventually on £1200! I immediately stopped the application and rang my existing insurers, Privilege, who said they'd change my existing insurance for the VW which still had ten months to run for £45! Brilliant. This year, same car, same circumstances the quote was £685 and couldn't be reduced! Eventually the AA has covered me for £485. So compared to the wilds of Scotland a steal, but still entirely inexplicable.

[@davethefab6339]

It’s all about how much you’re prepared to be screwed.

[@andrewthompsonuk1]

They hate "no-fault" claims. there are lots of people around who crash quite often and it's never their fault so they see a no-fault claim as a large risk - yes it's unfair.

[@EverydayLife621]

MG4, 10k pa, protected. 1st year; £380 (Saga), last year; £460(LV); this year £377(Allianz+£45 Quidco cashback - hopefully), all underwritten by LV?

[@MizraPaul]

Allianz own LV.

[@erhantimur]

Yep, I can relate, I just renewed my Tesla model Y insurance, this is also my second year of ownership and third insurance renewal, first year £900, second year £1800, Third year changing insurance company £1700. I'm not sure I would keep the car after this year, these prices are just crazy. I was a VW UP owner for 10 years, I never paid more than £275 for insurance. The insurance companies are not factoring in all the safety systems the tesla has, sentry mode, camera on screen while driving, emergency break systems etc The tesla is the safest car I've ever driven. This needs urgent investigating, insurance is becoming a scam.

[@xperyskop2475]

But they take in to consideration bonkers amout of horse power 0-60 and top speed of the car . With my old Leaf I managed to get same insurance price but my car top speed is 99MPH has only 107HP and wndscren replacment doesnt cost 2k plus calibration

[@karlwest437]

Last year my ICE car insurance was increased by 50%, when I got my EV I shopped around and now my insurance is the price it was before again, it is indeed madness

[@davidheaver2854]

I suggest we all write to our MPs making the point that this undermines the move to net zero. Might get some action if enough of us write in. I've just sent a link to this video to my Green MP.

[@johnkeith1293]

Had never had my own car in 25 years, I've always had company cars on company policies, just bought my 1st car through my consultancy business (tesla 3 Long Range), got Insurance without having any No claims for business use (20,000 a year) for £1515, which was a relief after the initial quote from tesla themselves was £4,500, the best an "EV Specialist" broker could do was £1,900 and advised me to go with the self found option. It's expensive but as it's going through the company it's money that's reducing corporation tax and less cash I need to pay myself, it doesn't feel too galling

[@justgetatesla]

Yeah, quotes for my business to insure the car are a LOT more due to the lack of no claims discount. So me personally insuring the car using my no-claims is still the cheapest option. And is still an allowable expense...

[@anthonydyer3939]

So basically, try getting a quote with a black box fitted. I hate the very idea of such things, but there’s a hint that that’s the only pathway now to cheaper insurance. I was having conversations and the whole claims process seems to be filled with hire car companies jacking up rates on “at fault” insurance companies, accident management middlemen liking to bloat things out as far as possible and body shops pumping up repair quotes far beyond what is necessary. In other words, it’s completely rotten and this is the direction of travel. So the insurance seems to be going to be two tier: Legacy quotes based on driver, car, location, claims and conviction history. They will probably just keep going up. No idea why. Black box quotes that mark up your next monthly premium for every hard manoeuvre and speeding infringement. Cheap if you’re a snail, roll the dice if you’re a human! You’ve got to wander if there’s a guiding agenda behind all this, and to what end….

[@allinsiteUK]

My past two years renewal quotes have turned out to be the cheapest option available. This last renewal (yesterday) saw a slight increase of around £20 on last year's premium.. though I have gone from a group 21 vehicle to a group 3! Premium now £312 for business and domestic usage with 9k predicted miles and 9+ years NCD.. age 66. Discount applied for having house insurance and partner having her car also with the same provider. Who are Privilege.

[@martinjones5560]

I’m still finding savings by shopping around. Premium for my Q5 this year £290 with business use albeit very low mileage.

[@valetinganddetailingproduc2425]

Hi Ian. Have you tried getting a Qoute either 21 days or 23 days before your policy ends apparently it’s meant to be the sweet spot to getting cheaper insurance. Martins Money suggest it on there website maybe worth a look?????

[@idfisher]

not just EVs. My X3 went from 363 > 818 > 1586 over last 2 years with Axa and 23 years NCD. Price comparison sites showing I can get to 1200 but wtf!

[@Jarptchow85]

I pay in Sweden 603 brittish pounds per year for my insurance for a long range highland....

[@mrpugster]

that's interesting, do you have no claims bonus? how long you been driving?

[@tomas4321s]

I’m buying new in 2 weeks time and the cheapest insurance on the market I have found is 800€ including 76% discount based on 13 damage free years (Netherlands)

[@alfie8137]

Let’s blame the tories it works for some people 🤔

[@JonnoJonno]

@@alfie8137 Well we can partly blame them as they introduced the 12% Insurance Premium Tax

[@darrennoles9056]

While stopped at a junction this year, I was rear-ended by a careless driver. Fortunately, my Tesla’s SD card was working, so I had proof of the incident. It took about 40 emails, 20 phone calls, and 6 appointments to get repair. During this period, I had to renew my insurance, and my insurer quoted as if I had lost my no-claims bonus, even though I didn’t make a claim with them as I handled the entire bureaucratic claims process myself with the guilty driver’s insurance company, who were fully liable.

[@mikadavies660]

My electric Citroen E-C4 my premium jumped by 10% in Feb 24... By a little bit of shopping around I got it down to £435 fully comp per year. Last month, I renewed my diesel car insurance. That came through at £307 fully comp. So I don't understand quotes of £1,400/yr bearing in mind we live in Chelmsford which is supposed to be a high risk theft area.

[@aldoc2597]

Have found similar issue that renewal with current provider was the cheapest option. Checked comparison sites, checked insurers not on comparison sites, and for similar current cover, all more expensive. And that's with nothing changing to my circumstances etc. As you say, appears to be going only one way, and that's up.

[@EddieGriffith2802]

I'm about to renew the insurance for my Model 3 Performance for the sixth year. The renewal quote from Churchill is £521.00. It's about £30 less than last year but it's still a lot compared to 2 years ago. I might give them a call to see if they'll shave any more off. I'm only a low mileage driver (4000 miles per year). I pay way more per year for the insurance than I do for the electricity for the car! Here's what my insurance has cost me so far for my Model 3: First year 2019: £339.24 (LV) Second year 2020: £366.24 (Churchill) Third year 2021: £362.20 (Churchill) Fourth year 2022: £356.72 (Churchill) Fifth year 2023: £551.87 (Churchill)

[@johnmunro4952]

There is something odd going on in the insurance industry. My home insurance renewal is only £8 more than last year AND when I shopped around, my current insurer came up top of the comparison website search and it was slightly higher than my renewal price. That's unheard of.

[@bshah4831]

My BMW i4 EV with 335bhp insurance is £680 per annum and I drive 12k miles inc business use

[@railman7454]

What gone up by 50% in 2 years, can only be, labour, parts, or more claims or more profit.

[@animal355]

I think its one of the many reasons that EV sales are dropping, the insurance is getting out of control. My renewal for my aging 13 year old Diesel was just 40 quid more than last year.

[@justgetatesla]

That’s just an old car thing though

[@animal355]

@@justgetatesla Its why I won't change my old car too. It would grieve me to be paying up to 125-150 quid a month to insure a car alongside paying 400-500 quid for in finance. I must get asked on a weekly basis if I'm selling my old diesel. And I think it's down to its low low running costs. I've does the maths several times and the EV (as good as they are) just doesn't work for us. All the best and keep churning out the videos. I do really enjoy the content and your real world experience of EV and Tesla ownership.

[@justgetatesla]

Our 2009 Hyundai i30 is the same. It doesn’t get used that much, but when we need a second car it’s reliable enough to start. Insurance is very cheap, so we’ll keep it until it dies

[@animal355]

@@justgetatesla I think that seems to be the attitude of many drivers, running their old cars into the ground before making the decision to switch or not.

[@Geordie023]

Your no claims discount maxes out at 9 years, any more years built up on top of the 9 years doesn’t get you any more discount at all.

[@williamsjm100]

Insurance is crazy. My nearly 8 year old Outlander went from £170 quid in 2016 to £600 now. Was £250 for some years then just shot up. Maybe we should have a cap on third party repairs?