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.
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 👍
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.
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… 😂
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.
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
@@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.
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 💵💷💴 😢
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.
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
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
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
Interesting subject, I’ve just asked LV to quote me today for switching from a 1ltr VW Polo on a 73 plate to a brand new Model 3 RWD LR. I was quoted £76 for the change and was told it would add about £200 / year at renewal bringing it to about £700/yr.
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.
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.
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
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
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.
Hi Ian, I have the MYLR 2022. We also have a small old ICE car. Both insurances went up. My EV renewal increased 60% last year and it was the lowest offer I could get. This year the renewal quote was another 50% increase for no obvious reason. In the end I found a new insurer and actually reduced the cost with some minor changes.
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.
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.
Go for maximum voluntary excess but take out excess insurance separately (ALA Insurance). That will go some way on reducing your overall insurance cost.
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.
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.
2021 m3p with 45k miles, policy for 25k miles annual driving was £700 with Adrimal. Last year i had sheilas wheels which was £1100. I also got a quote from Tesla for £1200. It's worth spending a few hours looking for the deal.
Hi, my 19 year old bmw insurance renewal quote has just gone up by £32 for the year. I have 507 brake horse power. £32 works out roughly 6.2% increase for the year.
Had my renewal through in August. It went up from £37 a month to £51. I shopped around and managed to get it for £28 a month and that is with even more perks like a courtesy car which wasn't with my last insurer. I drive an old 19 year old car and have 25 years no claims.
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..
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.
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!
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
@@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.
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.
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.
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!
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.
"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.
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
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.
Just renewed my insurance and it had gone down at renewal. Comparisons were around the same. I increased my excess and took out excess insurance years ago as makes a saving. I gave up with a broker this time as they sent an email saying they tried to call me but I had no missed calls, wont start off on a lie. Going to move my business van and business insurance from that broker too next year.
I bought a new Tesla model S 75D in 2017 for the first few years I insured with LV taking the maxium voluntary excess of £1000 and it went from £300 to £400 last year it went to £700 the renewal this year was £800 so i used the comparison websites and took the lowest quote of £485 from Tesco. The low price maybe because they only value the car at £17500 now
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.
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.
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!
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!
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.
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
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.
Love your videos Ian. I don't own a tesla for now but I do have an Ioniq 5 and have had it since 2021. I have watched a few of your recent videos and it is so nice to see and hear someone on RUclips say the truth about ev's. I am so fed up with most ev stories/videos on RUclips which are so so negative, basically lying to get views. Please keep them coming and take care
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.
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.
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
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.
Hi Ian. Just had my renewal in from Direct Line for my Model 3 SR. £1200 as a professional licenced driver.. shopped around and found Allianz in around £750. Way cheaper.
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.
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.
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.
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.
Yea I have just ordered a Model Y Standard Range. Collecting on the 14th Sept, my Insurance is doubling from £500 to £1000 when I change it over. Hopefully see it back in fuel savings 😅
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.
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?
For perspective though, I am 55 and insured for 7,500 miles as I'm retired but I've stayed with my current insurer for the 6th year, and my renewal has most definitely been the cheapest every year. My car also has declared modifications as well so I can't just use the normal online quote systems. I tried one other place this year and they quoted me more and wouldn't lower unless they "had a reason to, such as a lower quote from elsewhere'! 😆 Literally said that.
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 :)
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.
Not an advert and obviously everyone’s circumstances are difference but Admiral seem to be widely cheaper than last year. However to go from a Q4 to a MY I was looking at north of a grand. This is why I’ve ended up doing a salary sacrifice scheme as the insurance is included, no brainier. We’ve got an issue with people driving whilst uninsured, some because they can’t afford it, so insurance goes up and more people can’t afford it so more drive uninsured….. ad infinitum Surprising the amount of people around inner city Birmingham have insurance at an address in Aberdeenshire or Cornwall. Also, timing is key. Cheapest premiums are normally found about 24-21 days before policy inception.
This is the only thing that would deter me from buying my company M3, and going grey-fleet on an allowance. But ALL insurance is mentally high these days. I suspect they're spreading the costs of pay-outs relating to the current Eastern Europe unpleasantness, and all the other conflicts resulting in claims for air transport & shipping losses & delays, etc?
Hi Ian I'm from Australia and its a similar story here. Every year its so frustrating to go through the renewal process of car, house and health insurance. I'm 62, retired and have never had an at fault claim in my life and yet my car insurance is still going up at a ridiculous amount each year. If anything, you would think it would go down considering I'm on the road so much less. I feel like we are being used to keep up their profits that are getting the hits from the high risk drivers. Gone are the days where loyatly (long term with the same insurer) is a thing. Gone are the days where being a good driver is rewarded. Its funny when you still hear people blaming Covid for increases that are happening now. The increases that are happening now are by all companies that saw their profits rise and got away with it and now they're keeping it going, while they can. Yes a lot of companies took a hit in Covid times but man, they've got back way more than they lost and then some. It'd be interesting to graph all these companies profits over the last ten years. That would show what is really happening.
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
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...
I was expecting a hammering on my S3 this Sept but I've just renewed again at the same price...well £1.35 cheaper 😆 So since all of this started, mine went up £54 and stayed there, so yeah I'm happy 👍🏻
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)
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)
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!
It's a UK thing, I just renewed my 2023 TM3 insurance for €550 in France. Teslas are almost impossible to steal, and this should be reflected in the quote
The problem with insurance is there are too many go betweens taking a slice of the premium before the underwriters who are the people actually insuring you !
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..
Just got a MY and got jnsurance couple of days before and got a good price 😊 if you can call it that but sub £1k, left it overnight and next morning had jumped another £150. Went from another electric and price jumped quite a bit. Its bonkers
Everyone knows it’s went up hugely. It’s been found that because during COVID the bigger underwriters like Lloyd’s etc made such a loss they needed to claw back the losses for their major investors and this was their plan longer term. My plan for my 2020 Ioniq electric went from a few years at £189/year Fully Comp with No Claims protection and a £50 excess to £398 after searching around and min excess at £150.
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 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.
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
@@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.
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.
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?
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.
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.
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…
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.😢
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.
One of the best things about moving from tesla to Škoda was going from group 51 to 23
No, the best thing was driving a Skoda!
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 👍
You’re welcome!
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.
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… 😂
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.
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
@@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.
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 💵💷💴 😢
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.
@@keithdenton8386 it is deliberate attempt from oem to make repair costly
The quicker Tesla’s own insurance is offered in the UK the better
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
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
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
Interesting subject, I’ve just asked LV to quote me today for switching from a 1ltr VW Polo on a 73 plate to a brand new Model 3 RWD LR. I was quoted £76 for the change and was told it would add about £200 / year at renewal bringing it to about £700/yr.
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.
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.
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
My Honda jazz is around £400. It’s still expensive but holy moly I had no idea other cars were so expensive!
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
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.
Hi Ian, I have the MYLR 2022. We also have a small old ICE car. Both insurances went up. My EV renewal increased 60% last year and it was the lowest offer I could get. This year the renewal quote was another 50% increase for no obvious reason. In the end I found a new insurer and actually reduced the cost with some minor changes.
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.
I think you should try and get some Oasis tickets Ian. That’ll be a good video!!
Am I the only one who hears “Invisible Touch” by Genesis every time you listen to his video intro? Ha
No sir...
@@justgetatesla I’m not saying it’s exactly the same. But my musician mind hears the notes and immediately thinks of it lol.
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.
Question then is how much you save on tax / fuel / servicing etc
Go for maximum voluntary excess but take out excess insurance separately (ALA Insurance). That will go some way on reducing your overall insurance cost.
same here i Italy company cars are always paying standard ensurance.. crazy
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.
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.
2021 m3p with 45k miles, policy for 25k miles annual driving was £700 with Adrimal. Last year i had sheilas wheels which was £1100. I also got a quote from Tesla for £1200. It's worth spending a few hours looking for the deal.
Hi, my 19 year old bmw insurance renewal quote has just gone up by £32 for the year. I have 507 brake horse power. £32 works out roughly 6.2% increase for the year.
Had my renewal through in August. It went up from £37 a month to £51. I shopped around and managed to get it for £28 a month and that is with even more perks like a courtesy car which wasn't with my last insurer. I drive an old 19 year old car and have 25 years no claims.
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..
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.
@@Matthersch77 they don't care, just look at the supermarkets when they went in front of the select committee.... Price gouging at its finest.
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!
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
@@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.
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.
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.
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!
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.
"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.
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
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.
My insurance for 1.5d qashqai didn't increased that much for last few years , maybe 40pounds more per year 😂
Just renewed my insurance and it had gone down at renewal. Comparisons were around the same. I increased my excess and took out excess insurance years ago as makes a saving. I gave up with a broker this time as they sent an email saying they tried to call me but I had no missed calls, wont start off on a lie. Going to move my business van and business insurance from that broker too next year.
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.
I’m still finding savings by shopping around. Premium for my Q5 this year £290 with business use albeit very low mileage.
I bought a new Tesla model S 75D in 2017 for the first few years I insured with LV taking the maxium voluntary excess of £1000 and it went from £300 to £400
last year it went to £700 the renewal this year was £800 so i used the comparison websites and took the lowest quote of £485 from Tesco.
The low price maybe because they only value the car at £17500 now
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.
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.
My BMW i4 EV with 335bhp insurance is £680 per annum and I drive 12k miles inc business use
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!
Its completely crazy. As you say, many issue "go away" pricing as they don't want to say no.
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!
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.
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
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.
Love your videos Ian. I don't own a tesla for now but I do have an Ioniq 5 and have had it since 2021. I have watched a few of your recent videos and it is so nice to see and hear someone on RUclips say the truth about ev's. I am so fed up with most ev stories/videos on RUclips which are so so negative, basically lying to get views. Please keep them coming and take care
I write down ideas for content, and one on the board is “why Tesla”. When I shoot it I’ll explain why I got a Tesla and not an Ioniq 5 or a Polestar
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.
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.
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
My renewal was the cheapest as well. Only a few quid more than last year.
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.
Mine was £750 then £875 now £1,400 for a 2022 Model Y dual motor it’s insane
Hi Ian. Just had my renewal in from Direct Line for my Model 3 SR. £1200 as a professional licenced driver.. shopped around and found Allianz in around £750. Way cheaper.
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.
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.
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.
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.
I suppose that it's comforting that I'm not the only crazy one.
Yea I have just ordered a Model Y Standard Range. Collecting on the 14th Sept, my
Insurance is doubling from £500 to £1000 when I change it over. Hopefully see it back in fuel savings 😅
I’ve just gone from a VW Touareg which was about £95 a month to insure to a model Y performance and it’s gone down to £72 a month
LV quoted me north of £6000 for my EQC this year
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.
Wow that sounds absolutely insane. You would think the price would go down.
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?
For perspective though, I am 55 and insured for 7,500 miles as I'm retired but I've stayed with my current insurer for the 6th year, and my renewal has most definitely been the cheapest every year. My car also has declared modifications as well so I can't just use the normal online quote systems. I tried one other place this year and they quoted me more and wouldn't lower unless they "had a reason to, such as a lower quote from elsewhere'! 😆 Literally said that.
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 :)
I get the frustrations but there’s plenty of good reasons as to what’s going on. I think there may be some better news on the horizon though.
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.
Yep - parts are a problem! Reports of being true for other brands as well
Not an advert and obviously everyone’s circumstances are difference but Admiral seem to be widely cheaper than last year. However to go from a Q4 to a MY I was looking at north of a grand. This is why I’ve ended up doing a salary sacrifice scheme as the insurance is included, no brainier.
We’ve got an issue with people driving whilst uninsured, some because they can’t afford it, so insurance goes up and more people can’t afford it so more drive uninsured….. ad infinitum
Surprising the amount of people around inner city Birmingham have insurance at an address in Aberdeenshire or Cornwall.
Also, timing is key. Cheapest premiums are normally found about 24-21 days before policy inception.
Insurance group 46-50. I got a quote last year at £2k+, so reluctantly bought elsewhere
This is the only thing that would deter me from buying my company M3, and going grey-fleet on an allowance. But ALL insurance is mentally high these days. I suspect they're spreading the costs of pay-outs relating to the current Eastern Europe unpleasantness, and all the other conflicts resulting in claims for air transport & shipping losses & delays, etc?
Hi Ian I'm from Australia and its a similar story here. Every year its so frustrating to go through the renewal process of car, house and health insurance.
I'm 62, retired and have never had an at fault claim in my life and yet my car insurance is still going up at a ridiculous amount each year. If anything, you would think it would go down considering I'm on the road so much less. I feel like we are being used to keep up their profits that are getting the hits from the high risk drivers.
Gone are the days where loyatly (long term with the same insurer) is a thing. Gone are the days where being a good driver is rewarded.
Its funny when you still hear people blaming Covid for increases that are happening now.
The increases that are happening now are by all companies that saw their profits rise and got away with it and now they're keeping it going, while they can. Yes a lot of companies took a hit in Covid times but man, they've got back way more than they lost and then some.
It'd be interesting to graph all these companies profits over the last ten years. That would show what is really happening.
Try Woolworths (AU) they have a drive less, pay less policy...
My model 3 went from 1.3k to 950 this year and I'm under 30 and have 9 year ncb
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
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...
I was expecting a hammering on my S3 this Sept but I've just renewed again at the same price...well £1.35 cheaper 😆 So since all of this started, mine went up £54 and stayed there, so yeah I'm happy 👍🏻
What gone up by 50% in 2 years, can only be, labour, parts, or more claims or more profit.
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)
I pay in Sweden 603 brittish pounds per year for my insurance for a long range highland....
that's interesting, do you have no claims bonus? how long you been driving?
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)
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!
Good luck - sadly it sounds like you’ll need it
It's a UK thing, I just renewed my 2023 TM3 insurance for €550 in France. Teslas are almost impossible to steal, and this should be reflected in the quote
The same thing is happening here in Australia...
The problem with insurance is there are too many go betweens taking a slice of the premium before the underwriters who are the people actually insuring you !
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..
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.
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.
Yes, it’s worth about a tenner. That’s what happens. What’s your point?
Just got a MY and got jnsurance couple of days before and got a good price 😊 if you can call it that but sub £1k, left it overnight and next morning had jumped another £150.
Went from another electric and price jumped quite a bit.
Its bonkers
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!
MG4, 10k pa, protected. 1st year; £380 (Saga), last year; £460(LV); this year £377(Allianz+£45 Quidco cashback - hopefully), all underwritten by LV?
Allianz own LV.
It’s all about how much you’re prepared to be screwed.
Everyone knows it’s went up hugely. It’s been found that because during COVID the bigger underwriters like Lloyd’s etc made such a loss they needed to claw back the losses for their major investors and this was their plan longer term. My plan for my 2020 Ioniq electric went from a few years at £189/year Fully Comp with No Claims protection and a £50 excess to £398 after searching around and min excess at £150.
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.
That’s just an old car thing though
@@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.
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
@@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.
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.
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?
New model Y. Cheapest insurance for me is £1980. 12 years NCB.
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.
Yeah pretty good, when you consider its supercar performance!
Seems to be a UK problem, why is that? My Tesla insurance is the same price as a Camry.
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.
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…
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.😢
Maybe, if you switch to getting a job working with an insurance company with the same salary level, you’ll get cheaper insurance
Great video
I think I'll stick with the buttons cars. 😂