I look for cheaper Tesla insurance. It doesn't go well...

[@alasdair4161]

I'm always amazed how premiums progressively increase while the vehicles real value depreciates. Even agreed values don't correspond to depreciation with a sanitary claim history. Really, the insurance industry is core to a lot of problems we have today, not only with motor vehicles but virtually everything from property building to public events, everything is being persecuted into oblivion by a greedy unregulated insurance industry. The first thing they insure is the perpetuity of their profits.

[@Brightsparks1960]

It does appear that we may be seeing the end of personal transport being affordable for many people. Higher car prices, insurance costs , fuel costs, RFL, potential road pricing ......... the freedom we have had may be restricted by evermore legislation and higher costs. Perhaps we should all go on strike for higher wages so we can afford to get to work.... or has everyone already done that!

[@qEnergize]

All part of the plan...

[@nbrown5907]

The intentional end of personal transportation it looks like. Why the extreme control is needed I do not know.

[@turul9392]

Everybody just remove their license plates. If done en masse the authorities can't do anything.

[@walterwings2222]

I think the problem is that although there are lots of insurance brands there are a limited number of underwriters, this means that there are in reality a few companies who provide the insurance.

[@davidhocevar8510]

the problem is ev sucks.

[@timlowe3081]

I think there is only two or three, that’s it

[@MaterLacrymarum]

Well, that's an ignorant comment. Are you suggesting premiums are going up due to EV suckage?@@davidhocevar8510

[@edc1569]

Manufacturers need to build cars which are cheaper to repair, people are going to be taking notice like they haven’t before.

[@TheWebstaff]

Get a repair quote for your own car but make them think it's an insurance claim. When they give the price be annoyed and say I'm not paying that that's ridiculous and say you're paying cash on collection. And see the difference.

[@IMAN7THRYLOS]

That is not happening. Cars now have many computers, screens and other electronics. They are no longer driving machines. All of these come at a cost. When something breaks it requires to replace more components than before.

[@adamkisz]

had the same with model 3 few moths ago. Was with admiral for 8 years. Last year paid 600 this year they wanted 1200. Went on to compare websites found some of the companies wanted more for insurance when you chose high voluntary excess. Sheela wheels with 300 pounds voluntary excess cost me 400 pounds for the year

[@Paul-np1pb]

I saw a good price for mine on sheelas whelks too. Was the only sensible price around

[@mlawson123]

The optimum date to get a renewal quote is 17 days before expiry, my insurance (Tesla Model S) actually went down this year (marginally) from £599 to £580 (from a renewal quote of £800). But you need to shop around. Only difference was that I added my wife as an extra driver and increased my annual mileage to 18k. MARTIN LEWIS has great advice on his website and podcast and that is what I followed.

[@scotta-t4f]

Tesla model s - 25 years no claim / no accidents / 55 years old / my insurance went from £700 to almost £1900 - no rhyme no reason, i do live in london, just unbelievable

[@551moley]

For anyone getting insurance quotes, I've just insured a PHEV and I put down the normal 10k a year mileage, the quote was just under £600 with a telemetry box, as it's only a second car (zero NCB 55yo) , I checked my Mot's for the last few years and realised the mileage was too high, so I did the quote with only 6k miles per year, the quote dropped to £450 and no telemetry box required, same company! My current insurance companies quoted £1,150. & £1,400.

[@Mike67H]

It may help others but over 55s I recommend Saga model Y rwd renewal with admiral plus £500, to £1,386, with Saga less than half price of renewal at £602

[@R2D888]

Also, be careful on comparison sites. If you put in too many quotes and adjust your details too much, you will blacklisted or suspended from some insurance company results for a period of time. This happened to me with Admiral on all the comparison sites!

[@garymc3519]

There's a sneaky workaround here. Put in a fake name and a neighbours address. Use all details relating to yourself, age and occupation. Once you're ready to buy, put in all your details correctly.

[@kcgunesq]

I bought my truck in 2008 and still drive it. 320HP, V8, loads of rooms for backseat passengers, 4WD, and I have effectively max coverage - hundreds of thousands in liability, uninsured, underinsured, collision, no-fault, roadside assistance, rental coverage, etc. Roughly $500 a year to cover and I probably spend about $1,200 a year in gas. So, I can insure and fuel my large ICE for less than one can insure a Tesla. So putting aside all of the other costs of purchasing (taxes, etc) there is no way I could buy a Tesla and save money.

[@Ginger-Tom13]

As you’ve mentioned, it’s not just Tesla drivers affected by this. I had a renewal quote for a 7 yr old A7, up from £280 to £930 - a hike of 232%!!! Shopping around got it down to £605, but that’s still a 116% increase! And that’s on 9 yrs no claims.

[@kevindarkstar]

Mark my words, insurance is the tool that will be used to get you out of your internal combustion vehicles, by hugely increasing the insurance costs or refusing to insure it 😮

[@justgetatesla]

Have a tin foil hat. If “they” get everyone out of cars, our economies collapse…

[@matthewgodwin3050]

Reminds me of the good old bad old days in the late 80s trying to get insurance on a GTi. More often than not, as soon as you said the magic letters GTi, or GTE, or Cosworth, the line would usually go dead. No insurance company would touch you. My father got a quote on an Escort Cosworth in the early 90s of £21,000, when the car was actually worth around £18,000. Crazy.

[@crumplezone1]

Wow your dad is rich !

[@matthewgodwin3050]

@@crumplezone1 He bought a Porsche 911 because it was cheaper to insure than the Cosworth.

[@I_Was_Chrispy_Kreme]

As most people know the cost is based on what the insurance company would have to fork out if you hit someone else with all the personal injury and hire car costs to the third party even before the cost of parts and labour. I remember in the 90s being quoted £2000 insurance on an £800 ford orion 1.6. Basically saying we dont want that business

[@drg111yt]

Well said. My LV insurance doubled £250 to £500, and it was £150 in 2022 - long trouble free and low mileage on an innocent little Dacia.

[@justgetatesla]

Crazy! Why has insurance gone up so much for everyone?

[@tantanman2852]

Admiral for us was over £1k less than the next lowest. We only got our car last month but was getting very anxious at the cost of things leading up.

[@tonyshipton8896]

I halved Admiral with Direct line £263 full comp business use 12yrs NCB

[@edtaylor3072]

I'm in the UK and in my 60's. I have a newish soft hybrid. Last two years with LV with little change in price. Renewal almost doubled in price. Like you went to the meercats and got quotes for about 15% more than i paid last year from 5* defaqto insurer. (A lot less than the year before.) LV did not offer to requote and have not confirmed cancelation by email. Left scratching my head but happy to have a reasonable price.

[@stupadasol5911]

You apparently don't understand the insurance actuarial tables, EV's are more likely to experience greater probability of being totaled when involved in an accident. In order for insurance companies need to cover the potential claims, everyone must share the burden regardless of what moves your vehicle. Thanks a lot for increasing everyone's premiums!

[@justgetatesla]

Did your premium come with a free tin foil hat?

[@justgetatesla]

No they’re not…

[@glennet9613]

It goes against the grain to defend insurance companies but that premium wouldn’t buy a new headlight or rear cluster on a modern car. The parts are both delicate and expensive and often hard to get so the car is off road and there are rental costs.

[@dj_paultuk7052]

One of my mates has a Model3 and his insurance has gone up to £2400 this year, so hes now looking to offload the car. He was saying its because Teslas are getting Written off for even minor crash damage. I.e a front wing and bonnet will write the car off, due to Panel costs being so high. So as Insurance companies are having to do £40-60k payouts so often they have had to hike Tesla insurance.

[@justgetatesla]

Whilst there's self-evident truth in the rise of insurance costs, the other part isn't true. Think about it. A £40k car needing a "front wing and bonnet". They are not remotely going to be £40k and thus write the car off. The industry is the victim on itself though. My Volvo S90 had a relatively minor shunt and needed a new bumper and grille and one headlight. The repair bill was nearly £20k. Not on parts or labour. Volvo used a claims management company and they were invoicing c£150 a day for a loan car. And then took their sweet time getting the car assessed and then repaired. An absurd cost which ultimately we all pay for!

[@onecookieboy]

I think you might find that with any damage at all there is a risk that the electronics or battery packs could have been damaged and all it takes is one ding in one battery cell and it's a potential thermal runaway.

[@dnoordink]

I'm in Brisbane, Australia. My car and house insurance (renewals) have also gone up by 50-60% this year. But I have found 'discount' insurance quotes for much less, and still wondering if I should change.

[@dnoordink]

I think 'they' just want us all out of cars. There's a study going around for net zero and sustainability that cars have to be reduced by 85% to meet goals...

[@justgetatesla]

How does that answer his question?

[@glynnjohnson3531]

I’m glad you can laugh about it. I think it’s criminal. I live in Southern California. Don’t have an electric vehicle. We have to pay for the people who do!

[@justgetatesla]

OK I will bite. How are you paying for people with EVs? Specifics and evidence please.

[@dmitripogosian5084]

Guys, you are complaining, here in Canada I never paid less than $1200 CAD / 710 current pounds in 20 years of owning the car :(

[@justgetatesla]

Painful!

[@williamcoulter5462]

Most Tesla's are company cars which explains why there are quite a few on the roads in the towns around London, so most insurance is being paid on company policy's which also goes a long way to explain why most are also driven by morons who think it is OK to pull out at junctions and speed past on residential streets so the private customers are paying the price for these people who bump up accident statistics for a particular brand. Add to that third party damage if the car self combusts and the high cost of recovery and storage ( 5 meter space all around in a compound ) and you soon see the cost of a Tesla accident is way beyond an ICE vehicle so the cost is passed on. My AA premium went up by 25% because of the high cost of recovery and rescue of electric cars ( according to the AA rep I spoke to ) .

[@justgetatesla]

Your AA rep is repeating the same tired guff that so many are doing. The 5m3 cordon around a car just isn't reality. Its like you all saying "I've heard the moon is made of cheese" then claiming there is a conspiracy to deny that it is...

[@spacemanwho]

3k. That's the cheapest I could find. Churchill... Next quote up is 5k. 16yrs licence 15yrs ncb... Insane.

[@alastairhatt360]

Hi, we just insured our new 2024 Tesla RWD with the RAC here in Australia 🇦🇺 and it was $1256 a year which I think is £650? I do know we had quotes of $2k to $3 from some insurers so either we got a really good deal or the others are over pricing the policies to cover rising costs?

[@enjaymarine]

The main issue with UK car insurance is twofold. Half is due to the thermal instability of all EV’s - and the payouts that insurers cannot wriggle out of when your EV deflagrates at 2,000 degrees Celsius. Secondly, someone has to pay for Luton airport - and the insurance companies (bless ‘em) have decided that All UK drivers should pay..!

[@justgetatesla]

I continue to be amazed that the lunatic fringe of the internet continues to howl on about Luton despite it long having been proven to have started in a diesel

[@screenarts]

You fender bender a Tesla they are totaling them. Scrape the bottom, they require a full battery replacement at 60kus. Water enters the battery they burn up. Everyone else gets their insurance rates raised too because Tesla would be uninsurable if we did not share that insane risk. Tesla is a very fragile car easily totaled out. Battery cost more to replace than car costs.

[@justgetatesla]

None of which is true. Parts are in short supply meaning repairs take longer - not writing the car off

[@kenrichards5699]

I don't know about EV insurance, but here in Australia my 2020 Suzuki Swift Sport is A$500 and 2005 Porsche 997 A$1000. Both comprehensive with a A$500 - 700 excess. 57 yo male, no claims in last 5 years.

[@andredaedone7732]

Not that much considering many people here in the USA are paying over 150 bucks a month. And it is more expensive there for everything.

[@trooper64428]

Mitsubishi outlander PHEV under €600 PA fully comp. (Finland).

[@peterstallwood8624]

Insurer wanted an increase of 111% on our Merc GLC. Changed insurer and up 25%.

[@michaeldamu9470]

all the safety features and sensors....8+ airbags, etc. the push for super safe cars cranked up the price and cranked up the cost to repair - EV and everything else

[@my3dviews]

But making cars super safe also lowers the injury rate and death rate, so should result in insurance companies paying less in those types of claims.

[@andypdq]

1984 Rover SD1 V8, modified with 4.6 litre engine, £147.23 Fully comp. I'll stick with oldies, which appreciate in value thank you.

[@IainKazLLJ]

I got my model Y in June 2022, I have 30000 miles and the value has dropped £17k but my insurance went from £500 up to £900. Crazy. Direct line could give me no justification for the increase.

[@justgetatesla]

Because...

[@sobeit1927]

Depreciation alone on these things is by far the biggest cost . If you can absorb that cost then really you deserve to get stung . I’ve been driving for 42 years and always had either cars or vans , in all that time I have spent in total less than 15k on my vehicles . Less than one years depreciation on a Tesla . I wouldn’t want one if you gave it to me .

[@DarkSphinxx]

INSURANCE IS THE ONLY THING STOPPING ME FROM GETTING MY DREAM CAR - A MODEL 3 - WHAT CAN I DO?!?!!

[@telecomsuk]

My 63 reg Partner tepee outdoor has gone up £120 on last years £40 increase which they removed after talking to them. However after going to the comparison sites my insurance quote seemed like value for money. Spoke to insurance they said they could reduce cover to get the price down but not reduce the quoted price so I payed up.

[@deehamps]

Hi, just renewed my discovery sport insurance for £368 down from £425 last year. None EV/PHEV

[@michaelwright1602]

That is cheap! I am paying twice that for a 2013 Honda Pilot, clean record, no claims and no points, in my late 50's...

[@bexhill8777]

my "premium" did NOT go Crazy, a 20yr 1.9D Van Up From £320 To......£355... loving it.

[@Cheepchipsable]

Increasing premiums is known as a "lazy man tax", because a lot of people just pay the renewal and don't bother shopping around.

[@justgetatesla]

Usually that is true! In this case the renewal was by far the cheapest option- unusual!!!

[@Sumosan4]

My 2017 TD insignia eco 1.6 insurance for this year up by 105% no accidents or incidents nothing. But yet it goes up and the car value goes down? it's a con plain and simple but I need to go to work.

[@silversurf6159]

Why do they charge such high premiums......................because they can. 🤷‍♀

[@Actually-y7j]

This increase is since high risk EVs have come into the market. ICE owners are having to subsidise EV owners with higher insurance premiums

[@justgetatesla]

FUD sandwich

[@onecookieboy]

Here's a theory. Insurance underwriters are spreading the cost across the whole car fleet and the average ICE owner is partially subsidising the cost of EV repair/replacement. It is apparent to me that many accident damaged EV's are being written off even after a fairly minor accident, because the collision repair companies are reluctant to store or repair them because it is virtually impossible/impractical to check the batteries. Just a few damaged cells could start a catastrophic runaway fire causing potentially millions in damage and it all comes back on the collision repairer for not checking the batteries.

[@justgetatesla]

It may well be apparent to you. But it isn’t apparent to people who know what is actually happening. Remember that in the real world an EV fire is 11x less likely than a Diesel fire

[@onecookieboy]

@@justgetatesla I think I have mentioned this to you before on a different post, but ICE engines don't tend to catch fire while they are sitting doing nothing, or when they are charging, and fires in ICE vehicles are fairly easily contained. Guidelines for collision repairers state that a damaged EV should be stored in an area clear of other vehicles and combustable materials within a radius of 20 meters. I predict that one day, an EV will catch fire in a repair shop and destroy the entire business, or an EV will have been repaired and combust itself some time later and the repairer will be blamed for what happened because they didn't test/check each battery cell. If either of these things happen, that will. be the end of repairing EV's. All it takes is a small ding in a single battery and it's no longer safe to use, would you be comfortable signing off on a repair?

[@justgetatesla]

But EV's don't tend to catch fire "when they are sitting doing nothing". And charging? I believe there are issues in the US with cars "setting on fire when charging" - but its not the car catching fire, its the charger / household electrics. Plenty of examples over here of people using the 3 pin charger and it burning. But the car doesn't immolate - just the plug / socket until the fuse in one/both trips. Or the RCD. Or the big fuse in the charger. Or the fuse in the car. Likely 5 Fuses to go through before power actually inputs into battery. This is why we aren't worried about the scare stories. You can predict what you like - the *facts* as we know them are the opposite of what is being claimed. 11x less risk of fire than a diesel...

[@tyrantwitness2482]

I had a motorhome, which was ran into the back of on a motorway. The ladies insurance was being difficult about inspecting the damage! Until I threatened to use the services of a third party that would hire another motorhome, while having mine repaired and then send them the repair bill, plus the cost of motorhome hire! They quickly accepted the and gave the go ahead for the repairs without doing an inspection!

[@carlsturges6048]

My "fun" car, a 1969 Morris Traveller went from £89 last year to £140 this year. I've only driven 120 miles in it and nothing has changed since last year.!!

[@chefpetey]

Additionally EVs are more apt to be "totaled" in a wreck

[@paulgreen7906]

Got to love people having new cars. I only drive 5k miles a year, i am middle aged, with protected full NCD with a 14 yr old car I have had from new , only 70k miles, do all my own servicing. This years insurance cost me.........£195 fully comprehensive and full roadside assistance with AA

[@TheRoybeasley]

Mazda MX-5, fully comp (incl business use). Just renewed at £240 (a whopping £18 more than last year). Wifey's Citroen C3 Picasso similar numbers but no business usage (£190 renewal). My BMW 1200 motorbike cost about £90 back in the Summer (again fully comp incl business usage). But I've put about £1200 worth of petrol in the Mazda over the past year...

[@raptorpome2577]

Hello what is the name of the insurance company for car and motorcycle please

[@lindastevens6861]

According to the life insurance companies there is a 7-10% increase in deaths under 65 years of age. That means if 100 people under the age of 65 died in 2019 there is 107 to 110 people under 65 in 2023 dying😮 Therefore of course all insurance goes up Including car insurance

[@JustinCooperMarsh]

Recouping the costs of COVID and having to pay back those who claimed they drove less..... The fact that insurance penalises you for non fault claims is a huge con. How is it your own fault if some bell end goes into the back of you when stationary at a roundabout.

[@markhowells-prescott9598]

Hi there I thought my insurance was expensive at 719.00 which started in September this year for a citreon ec4 best of luck with the quotes

[@trevorshields7347]

I'm dreading my renewal next year as I've had to have a windscreen replaced

[@paulf3353]

It is more expensive for pretty much every car, but for tesla especially. Tesla is in the highest insurance group, higher than porsche.

[@Iainab5]

Try entering a different car ie. EV6 or ID4 and see what you get

[@fredjames9867]

When parts cost ridiculous amounts due to progress they say . Them just write them off . You can see a issues thats been created

[@justgetatesla]

I think replacing a megacast front or back end would be expensive. But as there’s a guy literally sledgehammering one without denting it the claim and the reality are far apart as usual…

[@geoffreyhoward7251]

I appreciate your hurt I was gobsmacked when my Audis premium increased by 30/35% for renewal. So I hear and appreciate your hurt but take note than your comment on it being an electric vehicle was incorrect, my daughter works in the head office of a major insurance company has told me it is due to the number of EV claims having to be settled, if EV's, Hybrids and ICE vehicles were settled according to type the ICE premiums would remain relatively the same with minor changes, while EV's premiums could easily triple if not quadruple in cost. As you can imagine that would be the death knell of the EV story which is coming anyway but will take some time, I recently renewed my Audi and having a general conversation with the Sales Manager, he pointed out a top of the range used Etron on the forecourt, stating that e few months earlier that could would have been sold before they took it in, at the time of the conversation it had been on the forecourt over two weeks with not a great dead of interest in it. A sign of the times.

[@justgetatesla]

There is something odd happening. The insurance industry do research into EV safety and costs and don’t find the shrill warnings which practically everyone quotes anecdotally. With respect to costs, isn’t the reality that so many insurance companies ramp up costs absurdly? My Volvo took 2 months to fix and in that time I had a loaner for £158 a day. The bulk of the repair cost was the claims management company and the loaner.

[@JensSchraeder]

Range Anxiety They don’t work in the cold Charging sucks They combust when you look at them too long. They’re ugly Build quality sucks They use rare earth minerals Did I mention they like to catch fire? 🔥 No one needs to go 0-60 in 2 seconds Advertised and actual range are two different things. Tesla has admitted to this. Oh. Depreciation literally makes them a money pit. I forgot that one.

[@justgetatesla]

Morning! Lets do these one by one: Range Anxiety - nope. Most journeys made when it charges as I sleep. On long trips I need to stop before it needs to charge They don’t work in the cold - Unless you live in Norway where they are working just fine in -30c Charging sucks - does it? Most of my charging is done when I sleep. Does sleeping suck? Whereas filling stations really are nasty, especially for diesel. A choice of wear a plastic bag over the pump hand or have it smelling of diesel for an hour afterwards They combust when you look at them too long - and yet according to the Uk Insurance Industry Thatcham research your diesel is 11x more likely to have a fire They’re ugly - subjective. BMW currently sticking vast grills on their cars is ugly Build quality sucks - nope. They use rare earth minerals - yes, because dead dino juice we are extracting from the ground from a finite reservoir definitely doesn't count as rare Did I mention they like to catch fire? 🔥 - you did. That you believe it is funny No one needs to go 0-60 in 2 seconds - true! And so many EVs don't. I can buy a petrol car that does 0-stupid times as well. Are all petrol cars a Bugatti? Advertised and actual range are two different things. Tesla has admitted to this. - indeed. And all petrol / diesel cars get the posted mpg and therefore range. very time Oh. Depreciation literally makes them a money pit. I forgot that one. - you didn't need to. Markets go up and down in cycles. Nothing can lose as much money as my diesel Volvo S90 did So, a long list of FUD. You know the right wing media prey on people like you? "They'll believe anything we say, they're too stupid to Google"

[@peterallam6494]

08/11 23, UK Insurance Conundrums. You can have max' NCB on a vehicle 1 year older at renewal & that now costs less to replace yet pay an increased premium (?). 'Expert advice is to check periodically for exact like-for-like policy throughout cover. Is there an App that can do this ? Will Home cover cost more if you keep an EV on the premises ? 'Cartel' would £sum things up. Best Regards.

[@bobfuhr4520]

I haven't had insurance of any kind in 50 years and never had any problems at all. Viva México.

[@blackcountrygaz7080]

I'm so lucky, Saga offers me a 2 year freeze on my Honda CRV for an extra 20 quid and I took it lol so £201 for next 2 years and it actually went down 5 quid the last time anyway. They can only squeeze you all so long before the car stops. Then! They get no money and will beg us to come back. So DON'T sell ur car, sorn it and hols out or use it as a shed or dolls house. But remember, if people can't work and pay taxes, government's can't pay for nothing including themselves.

[@tobytroubs]

My Merc E class Estate......just quoted £265.00 pa...last year £240 , they either don't want the business or they are finding Teslas are bought mainly by Companies....kerching !!

[@regilena7]

Have you tried Tesla Insurance company? Google says it’s 479 for Model Y? I’m in the US so I don’t know for sure if you do have access in the UK only what Google says, but I feel badly for you.

[@rossmcmillan7316]

So glad ur fi ding it funny my dad has had to sell his car and not drive as his tesla was so unaffordable

[@Renegade1127]

Wanna laugh ? Go back to those quotes and select Third Party, Fire & Theft (tpft) When I tried that, the quotes went UP, despite the insurers only having to pay for repairs to a single vehicle instead of both. These 'insurance' companies are really just brokers anyway, they don't cover the cost of any claim, the underwriters do.

[@edc1569]

I think teslas are particularly bad because they make repairing their cars so costly.

[@phantomduck65]

It’s probably so high because you drive a car that has a history of setting itself on fire

[@justgetatesla]

Lol

[@christophercharles3169]

You pay extra for the car and the insurance but it must be such a wonderful feeling that you're doing your part to fight climate change. It must make it all worthwhile. The sad part is that EV insurance costs are being passed on to gas and diesel car owners as well.

[@justgetatesla]

If only your argument was backed up with evidence. The insurance industry cite statistics to prove the opposite of what you posted. But what would the insurance industry know about insurance?

[@christophercharles3169]

@@justgetatesla All I hear from most ice vehicle owners is that their insurance costs are going up and it sure seems to be in tandem with the cost for EV insurance. Why the dramatic increase in ICE vehicle insurance? The insurance companies are certainly not going to admit that's what they're doing.

[@gmatthews7632]

Nobody willing to sign off on battery after the smallest collision.

[@justgetatesla]

Which isn’t true in the real world

[@robertkubrick3738]

I pay $287 twice a year to insure two ICE cars, that's for both of them.

[@justgetatesla]

Which dollars? US? Canadian? Australian? New Zealand?

[@robertkubrick3738]

@@justgetatesla USD.

[@chris_3636]

How many miles a year do you do, and does it include business use?. I suppose the greater value of the car the greater the hit you're going to take. Not good.

[@justgetatesla]

15k business miles a year

[@0e32]

Crazy!!

[@Traderhorn]

Needing insurance by law they have a monopoly and can rip people off.

[@schrodingerscat1863]

EV insurance is going through the roof because the underwriters have realised that cost risks for EVs are substantially higher than ICE cars. That said my ICE quote this year was near 60% higher than last year but after searching online I managed to get it for about 5% increase. Insurance companies are scalping, I think that much is obvious.

[@justgetatesla]

There have been some stupid actions by insurers, but mainly out of lack of experience with EVs. As they insure more of them reality will kick back in.

[@schrodingerscat1863]

@@justgetatesla No, it is quite the opposite, as EVs have become more common there has been a realisation that they are generate far bigger insurance claims. Accidents, even minor ones, almost always end with the whole car written off, if they catch fire it tends to be in carparks or garages where there is huge collateral damage to pay out for. That is why EV insurance is rising so fast. The risk profiles are becoming better understood by the underwriters.

[@justgetatesla]

The problem in reality is that what you wrote isn't reality. So no, that isn't what is driving insurance quotes because they operate in reality and not "I read this on the internet and it must be true because I agree with it" nonsense. Unless you want to show me evidence of the fire claims...?

[@schrodingerscat1863]

@@justgetatesla I work in the financial services industry and know a quite a few people who work for underwriters. They update their risk profiles periodically based on numbers of claims and cost of claims. While the number of claims for EVs is typically similar to any other vehicle the value of claims is turning out to be substantially higher for a number of reasons. This is why EVs are getting a proportionately higher increase in underwriter costs which obviously has to be passed on by the insurer. More than this the cost of other insurances are increasing where EVs are concerned such as for premises where EVs are repaired, serviced or stored.

[@justgetatesla]

I do have to ask what the underwriters are basing their quotes on - other than the reality that EVs are still relatively new and unknown. There isn’t any evidence of the fire risk that people keep quoting. Thatcham Research did a study into it for the insurance industry and the fire risk is 7x - 11x smaller than petrol and diesel. So that’s the reality of the risk - yet premiums go up as you say.

[@abderra18]

This is the new world .. we all have to get used to!

[@justgetatesla]

Indeed

[@niebuhrsongs]

If you had kept that Volvo though. Wow.

[@justgetatesla]

I did think about it! Wasn’t really suitable for my needs having moved to Scotland

[@barriewilliams4526]

If you can afford a Tesla, you can afford the insurance... If you can't afford the insurance, you've bought the wrong car. Judging by the build quality & depreciation of a tesla, you've bought the wrong car anyhow🙃

[@justgetatesla]

Build quality is great, residuals better than my Volvo diesel

[@jimhallinsn1023]

Price the damn things off the road.

[@brianbottomley7000]

agender wants to stop you driving and price you off the road

[@iainhogg5245]

Its called Being ripped off..regards

[@teachingpupswithmetz]

I bought a Mk7 diesel Transit van a year ago that I use as a day camper van for days out my dog. I was with RAC but did comparison sites & finally took the Lloyd's quote for £179 Inc extra key cover & legal. There are advantages of being a pensioner, living in Devon & having an old vehicle 😊

[@244col]

I agree it's going up across the board. My ICE car insurance has gone up 27% from last year. Not 50+% but still up significantly more than inflation.

[@orthopraxis235]

So EV insurance has essentially gone up 2x as much as ICE insurance. Could this be because EVs are not what you think they really are? Again, google "Insurance companies and EV fires" together.

[@tomscott9938]

About a decade ago a car magazine priced a Ford Focus built entirely of spare parts. It came out at around £75K, when at the time a new car retailed at roughly £14K. The problem is price gouging on spare parts. You've covered this yourself on a Tesla, £1,300 for a headlight, £2,000 for a starter battery. Elsewhere I've seen £2,500 for a windscreen. I suspect the insurers are basically calling time on this practice and saying to manufacturers that they will make their cars uninsurable unless parts prices fall.

[@mattball8995]

The hire car scam that insurance companies use to push up the cost in a no fault bump is another reason. I had a no fault crunch and Admiral immediately directed me to a 3rd party that wanted to 'rent' me a hire car, which would be billed to the other drivers insurance. Rate was going to be 380 per day. PER DAY! Luckily I had use of another car for the time so told them where to go, but the other option would have been to accept a hire car from the other drivers insurance as they're looking to keep costs down. Shocking behaviour from insurance companies, which in turn is just putting up prices for everyone.

[@Paul-np1pb]

This years renewals are crazy! Totally agree thats there is no real reason for it (other than cartel profit!)

[@orthopraxis235]

Google "Insurance Companies EV fires" and the REAL reason for it, statistically significant data size, will be apparent. EVs are simply more dangerous vehicles from a fire liability standpoint, and insurance rates are finally beginning to reflect that reality.

[@eddevoe2519]

Here in the USA rates can vary greatly and if you use online comparison sites you really don't get a good quote. I have found the best way to get reasonable insurance is to call several local insurance dealers to shop for you. I ended up getting insurance for my Tesla's that cost only $100 more than I was paying for my Ford Escape.

[@neilconstable2544]

Just renewed my EV6 GT Line S (rwd) with LV. The renewal premium for 4 drivers aged 46 to 72 was £420 compared to £280 last year. This appears to be a good price but a ridiculous annual increase.

[@DarkSphinxx]

I really want a EV6, but insurance is just stupid for me.

[@robf5684]

I renewed my M3LR in May. Mid 50s, 10+ years of NCD, 0 points, no incidents, etc. £825 with LV! Was £600 previously. Renewal (Admiral, who I'd been with for years) wouldn't match the £825. Bonkers prices 😀

[@davidcharlton7765]

I am with Aviva and just put my order in for model Y. I did a quote on their site and they wanted £1600. However through a comparison site it was £600. And if I change my current vehicle to the Tesla it's again only £600

[@IanGoodman-u9p]

Crazy insurance this year. My M3 LR has gone from £485 to £889 and that was the renewal rather than a comparison site, best I could get on there was over £1000! I actually was surprised by the renewal as I did have a claim this year that was 100% my fault - I went in to the back of a bus in a queue. I had to find out the cost of the claim for the comparison site - £2270 for in effect replacing the front bumper of my car and sticking a numberplate on the bus (yes that's all the damage there was). In my view it's the ridiculous repair costs that are causing the prices to rocket.

[@darkzim3872]

the reason for the price increase is because everyone wants a pay rise it starts from the workers in the insurance company office to the garage staff to the parts people to delivery drivers they all need a pay rise someone needs to pay for it

[@ldnwholesale8552]

Rediculous cars that are very hard to repair. And parts are made of unobatinium

[@greghudson9717]

I'm more concerned that the Tesla didn't prevent you from crashing into the bus in the first place !

[@eugeniaskelley5194]

Due to the fact that EV fires are so hard to put out and the cost of repairs or replacing a battery are so expensive insurance companies are raising everyone's rates so they can cover the claims on EV's. From my understanding some insurance companies won't even insure an EV.

[@colinnich]

@@eugeniaskelley5194 Your understanding is lacking

[@Gaaaaav]

I have a Cupra Born and oddly enough.. my renewal was cheaper than last year by £27 and my renewal was the cheapst I found through any comparison site so I'm currently paying £483 a year which in the grand scheme of things.. is really good.

[@Flickerbrain]

I just checked what the insurance would be for a new Model Y here in Germany. The best I could get was €930 (around 807 quid). Still expensive!

[@marktodd4479]

thats NOTHING for gods sake. 930 a year. i pay $2,256 for a 5 years old family ICE sedan, not for hire and all discounts for no accidents, no tickets, no for hire, anti theft discount. unreal how cheap people pay on here and they are COMPLAINING?

[@Jaw0lf]

Insurance costs are crazy at the moment and isn't helped by huge car park fires. These have to be paid for and I am sure that will be part of the reason. Also lack of parts means they arrive slowly and that adds higher storage costs as well as car hire is for a longer period. So costs up , renewals up to keep profits up.

[@justgetatesla]

To be fair I can only think of one huge car park fire in the recent period. Though the impact on the insurance industry will be sizeable even with just the one!

[@tonystorcke]

Tesla needs their own insurance company.

[@barrybarry6592]

Tesla is likely to collapse, when investors find out how they are being used. Interesting to see if my thoughts come to fruition

[@PaulMathews-p4o]

They would go bankrupt in a year.

[@perryallan3524]

Virtually no one would buy it if they charged what they needed to recover the cost of claims. EV vehicles tend to be far more expensive to repair than non EV vehicles - and its disastrous if the battery is damaged and has to be replaced.

[@tonystorcke]

@@perryallan3524Most batteries have a 10 year warranty. In an insurance claim they would just likely swap the car for a used one.

[@perryallan3524]

@@tonystorcke Lets see - a partial truth, and a lie. Have you had your coffee, energy drink, or tea yet this morning? EV Battery warranties are based on time or mileage (Km) depending on what occurs first. Lots of stories on the internet that the replacement battery cost for 6-8 year old cars that exceeded the mileage (Km) limit was so expensive that the people junked their cars. I've had the insurance company "total" 2 of my cars in my life. They never provide a similar used car in similar condition (and I have never heard of any insurance company doing that). What they do is pay you the value for the worst condition used car of your model year with similar milage that they find listed in the adds (one that badly needs a brake job on both axles, that the transmission is showing signs of distress, and that perhaps clearly needs plugs, coil packs, etc. and burns smoke showing the engine is mostly shot, and with worn out tires (there are reasons people sell used cars - and it is almost always that they know it needs major maintenance that they don't want to pay for). I've twice "negotiated" with the insurance adjuster and know very well the adds that they provide copies of for your model and year of car (and in one case I had looked at one of the cars personally - it would need $ thousands in work). The best I did once was get an extra $100 because I had just spent $500 putting new tires on my car. If your vehicle is well maintained you never get close to what it is worth and you cannot find a similar condition used car to buy for anything close to the mechanical and body condition that your car was before it was in an accident.

[@jjamespacbell]

Insurance for Teslas in the US was getting outrageous but when Tesla offered insurance that went away, What makes insurance hard to compare here is that you get a discount for having multiple cars and your home insured with the same company. I live in Anaheim Ca and my Model Y comes to $110 per month, fully comprehensive, and $0 deductible with State Farm. The 10-year-old Ford Escape I traded in was $70 a month so I thought that to be reasonable for a car that does 0 to 60 in under 5 seconds.

[@gssf.gr29]

So did mine. 30% or so. I questioned it (in fact told them I wasn't going to renew) and they reduced it and I'm actually paying less than I paid last year!

[@SouthlondonAl]

The insurance for my ID3 doubled this year with Direct Line. Was unable to find a cheaper quote anywhere else.

[@NeilY1000]

My Tesla was £850 despite being 51 and doing 7k miles per year. The renewal for my old land rover from last year went up by £250 on comparison websites. It’s all cars. According to news sources it’s the cost of labour on car repairs has gone through the roof And always do your quotes 30 days before renewal or you get fleeced

[@Mr_Spock512]

There are so many gizmos (ie. Lane Assist, Blind Spot Monitoring, etc) in cars these days .. it makes repairing them much harder and requires mechanics to have higher training. You have to pay for the extra complexity if something breaks.

[@eugeniaskelley5194]

It has to do with the fact more and more people are driving EV's. EV's fires are hard to put out and the cost to repair or replace a battery is so expensive the insurance companies have to raise everyone's rates to cover astronomical claims.

[@Yorkshireasaurus]

@@eugeniaskelley5194 Bet you’re putting this nonsense all over the internet?

[@crumplezone1]

The Cloned Reg plates in The UK has gone stupid, I heard the police are finding them all over the country, they need to bring in some better security plates, I mean how hard can it be ?

[@John-h7w6c]

It will be interesting to see how much profits these insurance companies will declare?