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.
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 😊
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.
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.
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!
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.
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.
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.
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.
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.
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.
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.
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!
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.
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
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.
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
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 😀
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.
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!
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.
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.
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?
I was paying about £360 for my XF diesel S (272bhp) in 2022 and the renewal quote in August 23 was over £650! I shopped around and renewed with Hastings Direct at £360 - actually £3 less than the year before, so very happy there. This afternoon I bought a just less than one year old I-Pace (400 bhp) for my wife and I was trembling a bit when looking for insurance quotes. Eventually signed up with another Hastings Insurance brand at £663.34, so I was tbh surprised but happy-ish. Took 2-3 hours of searching to find it though.
I always thought you guys in the UK had way cheaper insurance than us in Ireland. But it's reversed by a long way. I've just renewed with Aviva for €355. Age 51 with my wife also as a driver. That's almost same as last year. Just a €6 increase. They asked a but more but we haggled down to there. Very happy with that.
This guy is quite entertaining. I have a 2023 model Y performance which has only 1200 kms in the 6 months I have owned it. I lost my license for 6 months because of excessive speeding 😖
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 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.
My brother was working in insurance and he said you can do the same damage if you hit a rolls royce with an old car. Fixing the rolls will cost many times more than a decade ago.
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
I renewed my insurance in October 23 for a top of the range Merc EQC and it came down £12 to £408. I was getting quotes off the usual compare sights of between £700-800. FNCB.
I do always do 50k a year so when I switched to the Tesla model Y 3months ago it shot up! But found a company called Keith Michael’s and they have a policy which covers my car as a the sole vehicle in my business. So after findings prices of over 2K I got it down to £1266. Knew it would be high with my high annual mileage but so much better than any of the high street or online insurance companies.
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
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.
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.
The truth is because of the greedy insurance people, more and more people will simply not get insurance at all. The cost of not having insurance if caught by the police is in many cases a lot less than the actual insurance.
@@billalumni7760on UK TV Police programmes like "Interceptors" they pull loads of people without insurance, without licence etc, they say what the fine is and often it is surprisingly low but then again some of the people pulled over are poor and that's taken into account when sentencing them
Are you serious? What if you hit and injure someone? You will be responsible for damages and medical costs. Listen people. Don't go by what this guy says. Get insurance on your vehicle. Totally irresponsible to not have insurance.
The insurance companies have simply realized how much it costs to cover EVs and so they’re trying to cover that cost, by increasing everyone’s premiums, and most especially for EVs. The problem is that they believed the lie that EVs cost less to operate. Which is true, except in the real world where shit happens and repairs are required.
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
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 ?
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.
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!
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.
Hi, just updated my insurance for a diesel car. Price with the old company went from 356 quid to 540 quid compulsory 100 quid and 200 excess. Ended up with 440 quid with 150 quid excess total. Edit I am 70 no accidents for 10yrs. Protected no claims for ever.
You should read the Thatcham report into EVs which the government sponsored. EV insurance has gone through the roof and to calm the market a little insurers are raising all insurance so not to put off people buying EVs. EV's are routinely written off after an accident if they are one year old.
It seems the problem is with the high cost of repairing or even writing off EVs for even minor scrapes. It's because there's no way of knowing if the batteries were damaged. Thus the entire car is written off at huge cost.
@@justgetatesla Unless the app can take each cell out and physically inspect it it's worthless. A damaged cell can work for a while then one day, boom, I'm going into thermal runaway.
I just renewed the insurance on my 2008 C class sports Merc it had increased from £278 to £295 an increase of £17 from last year. I suggest that the reason why your insurance has skyrocketed is precisely because you are driving an EV and no other reason. To be honest I am a bit older than you and have an 11-year NCB but I also live in Central South London where insurance rates are notoriously high. I only drive around 3000 miles a year as I have good access to public transport and ride a 1250 Suzuki Bandit, which costs me £250 per year to insure. The problem with people is that it is far easier to con them than it is to convince them that they have been conned. Evs are simply not fit for their intended purpose and as they are at this moment are a total disaster for everyone who has anything to do with them. This could change in the future but anyone who buys a new one at this moment clearly has far too much money than sense. If you can afford to lose between 35-75% on depreciation every year you can afford to cough up on the insurance. As EVs stand at this time EV owners should feel themselves extremely fortunate that anyone is kind or stupid enough to ensure them at all and at any price. If I was you I would assume that next year the price will have doubled again. I hear that some people are so dissatisfied with their EV they are already deliberately torching them. If this becomes any kind of habit, all bets are off on the price of EV insurance. However, I look forward to the time when I will soon be able to pick up a 4-5-year-young EV Porche or Jag for so close to nothing it may as well be nothing and give it to the Mrs to do her shopping with. At this point, EVs will be used for the only purpose they were ever really suited for and be at a price that truly reflects their real value. When they are known to have no real value the cost and therefore the price of insuring them will instantly and necessary reflect this. Thus, soon enough our universe will again be brought into balance until the next time our governments go collectively insane with taxpayers' money. .
Watching this page from New Zealand. About five years ago I had a 4.0l six cylinder Ford Falcon. Comprehensive insurance for a 40ish driver plus any driver over 25 was just under $460. At the time conversion would be about £220. Moving back to the UK soon. Cannot comprehend why they charge so much. Guessing they have shareholders to keep happy and a boss who wants a new BMW
Just moved from a Jaguar F-Pace with fully comp insurance costing me £294 per year, to a 6-month old Tesla Model Y LR and the insurance went up to £747 per year 🙄 I had to take out a complete new policy with Admiral, as the insurers who I had been with for 8 years, including 4 years with the F-Pace, wouldn't insure the Tesla 😱 Needs to be an investigation into the insurance industry and whether they are penalising EV cars and drivers. Hope you're well Ian.
They are penalizing the EV's. They burn hotter when they catch on fire than a gas or diesel vehicle and are very hard to put out. The cost of repairs and battery replacement are astronomical, and every one's rates will go up to cover cost. The EV has a high risk.
@@sobeit1927 Well considering the EV burns hotter when on fire, hard to put out than a gas or diesel and the cost of repairs or battery replacement are so high, yes, they are raising everyone's rates to cover cost.
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
There are many reasons for EV insurance going up, including the cost of repairs, there is more claims data out now for them, if they get involved in an accident then they become a bigger risk, so it doesn't matter if it was non-fault your vehicle now becomes a higher risk because there is no way of telling if there was damage to the batteries. Plus the possibility of causing damage to other cars is increased with an EV.
There seems to be some mystical legend being told about EV batteries. You say there is no way of telling if there is damage to the batteries. Any app will read the condition and even map voltage from individual cells. Spot the faulty cell if there is one and they can replace it. Even the car can do that in the service menu. It’s a battery, not witchcraft
Not quite correct, the software can tell the condition of a bank of batteries but not individual cells, and although it is possible to replace even just one cell the amount of work it is to do it is extremely expensive. Which is why there isn’t loads of business starting up refurbishing battery packs. Battery cells can degrade at anytime after knocks that’s the big problem and reason it’s hard to judge the condition of batteries after a crash.
Hi I bought a 2021 Kia E-Niro 4+ in October and fully comprehensive cover was £500. My only claim was for a windscreen 2 years ago. Mine of course does not fly down the road like your Tesla.
It's very much the same thing here in Australia Ian. I have a 2012 V8 Holden Ute, which had a premium of around £ 220/$ 420 AUD but jumped to £ 515/ $985 pa. I shopped around and initially my old insurer was the most competitive, but 6 months later i checked again when my wife's vehicle was due and found an online deal with one of the top 5 companies for the Ute and got a £ 250 refund! I also noted that the declarations on most online quotes now asks if you've had a claim regardless of who was in the wrong! The answer being pushed world-wide is either use public transport or buy a pushbike.
No, can’t be true. I’ve just been told by someone who claims to be serious that the only insurance hikes are on EVs because of a fire over here that wasn’t started by an EV. So perhaps your insurance hike on your V8 in Australia is wrong. Unless the people obsessed with hating EVs here are wrong…?😂
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.
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...
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.
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.
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.
I am from the Netherlands. For my 20 years experienced Berlingo I pay 46,- monthly for all-risk with the max. 75% discount. I am thinking of buying a model Y, the insurance will be around 120 to 145 a month.
My Tesla model 3 standard is insured by company called By Miles , fix cost of £137 after that it’s 14p a mile . No black box you just use their app which tracks your mileage only . Worth a try 😊
2007 Jeep Grand cherokee.3.0crd,diesel. I am 56 years of age. Scottish Highlands. Went up by about £1, renewed 2 weeks ago, to £227 fully comp.£350 excess.
Got my insurance coming next month, should be fun. I've always opted for no voluntary excess and found that it made not difference to the quote, but will after see at the end of december.
Flow just put mine up by over £200 this year on a diesel Focus and I’m 63 with over 17 years NCB living in London and I also tried shopping around. All were the same or much higher except one that wanted to fit a black box!?!
My insurance has gone up 58% for my MG ZS EV gen1 and I am 75 and drive less that 4,000 a year but I am now feeling lucky as it’s only £447 for the year...
I have a big heavy diesel SUV, my insurance went up 51% this year. Same insurance provider and no changes to cover. Not great but I still only pay £279 a year.
We are suffering because of the lack of car parts increasing time to repair. Teslas where especially bad for this, the impact was to increase the length people where in hire cars. The increased value of cars also has an impact as the opportunity to cause more damage especially to BEVs increases the cost of claims.
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?
I'm 58, I drive a 2014 Vx Insignia 2.0 Diesel. I don't pay road fund tax as its exempt. I renewed in September with Adrian Flux (I used to drive a modified Vectra 2.0Turbo), and my premium for 23-24 is just under £300 fully comp, with voluntary excess of £200. I also receive the usual breakdown cover and windscreen stuff. I've not made a claim in over 20yrs.
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.
Hi there, I'm a retired lorry driver living in Aberdeenshire, i have an 18 plate Ford Kuga and a 17 plate Motorhome. The quotes i was getting were a bit hefty so i stayed with the existing insurers, after a haggle my car went up £30 to £307 and the Motorhome came down £20 to £371 so it seems i got lucky. PS they were different insurers.
An important factor for insurance company risk engines is the number of days til your insurance is due. How many days in advance are you looking? Iirc the ideal is 22 days beforehand to get a quote...
Malaysia, 7+ years old hilux, insured value £14500 and my insurance costed the same as few years before at £171, comprehensive + 55% NCD + personal accident coverage. The other cars that I have, the insurance costed around the same as the past few years too.
Mine went down. Diesel For the record I would like a Citroen Ame Things to plan for, when, not if, they tax by weight and ban the use of the screen whilst driving. Plus, black boxes for everyone. No harsh acceleration and speed limits linked to the sat nav so you can't speed. Werrrrre dooooomed
I have a 2006 Toyota Camry which was fully comp but as it's old and if written off would only be worth about $4K I reduced it to Third party property damage only 2 years ago, this cost $175 for the years cover. In Oz, our registration includes injury to people. I have full no claim bonus and been driving for 60 years with no claims. It's an ICE engine, obviously.
this one help help you but it makes a good RUclips update - One trick to test your existing quoted insurance renewal price is to enter your details to a comparison site with your birthday out by 1 day. Your existing insurer will then quote with the rest and you can see what your current insurer us quoting to NEW customers exactly like you
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.
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
Got to wonder what the additional cost of repairing cars built with giga-castings will be too? Not just Tesla either, other car companies are going to be bringing in this tech too as the manufacturing cost savings are significant.
@@justgetatesla I was thinking more about the impact on insurance repair bills. As you point out insurance costs are getting a bit frightening. Good honest video 👍
Hey, Pieter from the Netherlands here. i found an insurance for a new tesla Y from this year and all risk would cost me 81 euro per month. Limited casco would cost me 44 euro per month.
I was considering buying Tesla recently but after receiving quote of over 1800£ nad to give up my dream and that is with me being over 40 with 14 years of no claims discount and no points on license. Just crazy and no resemblance with reality
There is the possibility of replacing batteries after accidents either by being hit or driving over something, being part of the reason the prices go up. Not saying that is the reason, but as the number of evs enter the market, the number ev fires will go up and with batteries prices as they are could be putting off companies from insuring evs, then prices are bound to go up. Just a thought..
My worry is if the renewals are astronomical more folks may be tempted to not bother insuring and run the risk. Then you have the added problem for those that do insure their vehicles at crazy prices find that they may have an increased chance of colliding with an uninsured motorist. Then we’re in bigger problems
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.
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!
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.
TESLA MODEL S P100D 2019 - Churchill £740 fully comp for year with no excess, only 2 weeks ago. I'm a 40 year old driver with no points and 9 years NCD. HOWEVER -- When I hadn't changed the address to my new place it was quoting me like 1600 ... but as soon as I put my new address it was down to 7-800. I think the location is a bigger deal than you think these days!?!?
My insurance went up by 90% for the same car ,managed to get it down to 40% increase by shopping around , i have no points and no accidents on my record
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.
Are there no specialist brokers for EVs? I still get competitive rates for my modified cars compared to the current craziness. My wife’s 1.2 Fabia I struggled to get the price lowered anywhere through comparison sites.
I’ve just renewed my insurance for my Citroen C4 today it has gone up to £252 from £198 last year so it’s about 25%increase and I only have £150 excess
It's not just the cost of repairs it's the cost of the hire of a replacement car while your car is being repaired. It is also the length of time the garages are sitting on ones car before they even start to repair it. As an examp!e, we have a car that took almost 3 months to repair with minimal damage. The repair garage said he was short staffed and thus the delay. The car only got finished when the insurance provider questioned why such a long delay. Needless to say ,he car then got finished.
This year in August, I was going to buy a new Model Y. I looked on line to see what it would cost to insure and the majority of insurers declined to quote (I'm 56 with 30 years no claims). Only two did, one of them being my current insurer - and the two quotes were £4,990 and £5,250. Both with £1000 excess and both limited to 10,000 miles per year. Needless to say, I didn't proceed with the purchase. The renewal on my current car (Range Rover Sport) was a much more reasonable £560, though even that was 20% higher than last year. I'll be hanging on to the RRS.
377,69 British pounds or 435 € for full year comprehensive + collision coverage combined in one policy. Car is Fiat 500X 120 HP diesel. And that sounded a lot (5 € increase from last year) until now. Thank God i live in Croatia 😀
I’m paying £385pa on my one week old Tesla moving from an ID.3. Like you I couldn’t believe the quotes, one went up from £685 to £1258 as I was completing the form. In desperation I rang my existing insurers, Privilege, and they gave me the quote that I’m now paying. I’m bracing myself for next year though as insurers are without doubt the biggest cowboys in town.
For comparison, I have a 2015 Toyota Highlander that I pay $980/year for insurance in a "big" city in the U.S.A. rural wild west. We do get a low mileage discount for less than 7500 miles per year but in the States our rates are definitely a function of the size and risk factor of our city and the Zip code of our residence, and whether we have teenage drivers in our household, which we do not. This year my rates went up about 9.6%. Definitely not as bad as your increase, but overall, we are paying a quite similar auto insurance rate.
I have just gone from a Jaguar Sport Brake 3 litre diesel to a low mileage second-hand model 3 2020. My insurance has gone from £350 to £1020 with double the excess. As you said prices have gone up ridiculously but there is also a prejudice against electric cars I am sure!! So much for saving the planet! 🤬
Yes, the EV's are causing the rates to go up. The fires are hard to put out and the cost to repair or replace a battery are astronomical. They have to raise rates to cover the costs.
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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.
the problem is ev sucks.
I think there is only two or three, that’s it
Well, that's an ignorant comment. Are you suggesting premiums are going up due to EV suckage?@@davidhocevar8510
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 😊
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.
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.
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.
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!
All part of the plan...
The intentional end of personal transportation it looks like. Why the extreme control is needed I do not know.
Everybody just remove their license plates. If done en masse the authorities can't do anything.
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.
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.
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.
This years renewals are crazy! Totally agree thats there is no real reason for it (other than cartel profit!)
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.
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.
I really want a EV6, but insurance is just stupid for me.
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.
Driving an electric car is like having diarrhea...you're happy every time you make it home without mishaps 🙂
Nope!
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.
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!
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.
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
Rediculous cars that are very hard to repair. And parts are made of unobatinium
I'm more concerned that the Tesla didn't prevent you from crashing into the bus in the first place !
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.
@@eugeniaskelley5194 Your understanding is lacking
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
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 😀
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.
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!
Manufacturers need to build cars which are cheaper to repair, people are going to be taking notice like they haven’t before.
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.
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.
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!
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?
I was paying about £360 for my XF diesel S (272bhp) in 2022 and the renewal quote in August 23 was over £650! I shopped around and renewed with Hastings Direct at £360 - actually £3 less than the year before, so very happy there.
This afternoon I bought a just less than one year old I-Pace (400 bhp) for my wife and I was trembling a bit when looking for insurance quotes. Eventually signed up with another Hastings Insurance brand at £663.34, so I was tbh surprised but happy-ish. Took 2-3 hours of searching to find it though.
I always thought you guys in the UK had way cheaper insurance than us in Ireland. But it's reversed by a long way. I've just renewed with Aviva for €355. Age 51 with my wife also as a driver. That's almost same as last year. Just a €6 increase. They asked a but more but we haggled down to there. Very happy with that.
Should have mentioned. That's on a 2023 MY LR and I've a €250 excess
Perhaps you have better drivers making fewer claims
This guy is quite entertaining. I have a 2023 model Y performance which has only 1200 kms in the 6 months I have owned it. I lost my license for 6 months because of excessive speeding 😖
The insurance for my ID3 doubled this year with Direct Line. Was unable to find a cheaper quote anywhere else.
Your channel has just made me very happy! 're insured my work's VW caddy today with Direct Line. It only went up by 26% happy days.Alan
Tesla needs their own insurance company.
Tesla is likely to collapse, when investors find out how they are being used.
Interesting to see if my thoughts come to fruition
They would go bankrupt in a year.
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.
@@perryallan3524Most batteries have a 10 year warranty. In an insurance claim they would just likely swap the car for a used one.
@@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.
My brother was working in insurance and he said you can do the same damage if you hit a rolls royce with an old car. Fixing the rolls will cost many times more than a decade ago.
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
I saw a good price for mine on sheelas whelks too. Was the only sensible price around
I renewed my insurance in October 23 for a top of the range Merc EQC and it came down £12 to £408. I was getting quotes off the usual compare sights of between £700-800. FNCB.
It will be interesting to see how much profits these insurance companies will declare?
I do always do 50k a year so when I switched to the Tesla model Y 3months ago it shot up! But found a company called Keith Michael’s and they have a policy which covers my car as a the sole vehicle in my business. So after findings prices of over 2K I got it down to £1266. Knew it would be high with my high annual mileage but so much better than any of the high street or online insurance companies.
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
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.
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.
@@eugeniaskelley5194 Bet you’re putting this nonsense all over the internet?
Renewal for my Fiesta up 78% since last year. 20+yrs NCB. Lovely. Will be hitting the comparison sites tomorrow
The truth is because of the greedy insurance people, more and more people will simply not get insurance at all. The cost of not having insurance if caught by the police is in many cases a lot less than the actual insurance.
Lol, the cost of not having insurance if you (when someone with an EV) hit someone else is FAR, FAR MORE than being given a ticket by the police.
@@billalumni7760on UK TV Police programmes like "Interceptors" they pull loads of people without insurance, without licence etc, they say what the fine is and often it is surprisingly low but then again some of the people pulled over are poor and that's taken into account when sentencing them
Are you serious? What if you hit and injure someone? You will be responsible for damages and medical costs. Listen people. Don't go by what this guy says. Get insurance on your vehicle. Totally irresponsible to not have insurance.
It's high because of cost of repair cost of storage before repair
The insurance companies have simply realized how much it costs to cover EVs and so they’re trying to cover that cost, by increasing everyone’s premiums, and most especially for EVs. The problem is that they believed the lie that EVs cost less to operate. Which is true, except in the real world where shit happens and repairs are required.
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
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 ?
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.
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!
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.
Hi, just updated my insurance for a diesel car. Price with the old company went from 356 quid to 540 quid compulsory 100 quid and 200 excess. Ended up with 440 quid with 150 quid excess total. Edit I am 70 no accidents for 10yrs. Protected no claims for ever.
You should read the Thatcham report into EVs which the government sponsored.
EV insurance has gone through the roof and to calm the market a little insurers are raising all insurance so not to put off people buying EVs.
EV's are routinely written off after an accident if they are one year old.
Tin foil hats all round
@@justgetatesla I think you should be more open-minded overall, none of this affects me, I'm old and gave up driving 3 years ago.
It seems the problem is with the high cost of repairing or even writing off EVs for even minor scrapes. It's because there's no way of knowing if the batteries were damaged. Thus the entire car is written off at huge cost.
Cobblers. A variety of apps show a complete map of the battery pack. Any defective cells identified and they can be replaced.
@@justgetatesla Unless the app can take each cell out and physically inspect it it's worthless. A damaged cell can work for a while then one day, boom, I'm going into thermal runaway.
I just renewed the insurance on my 2008 C class sports Merc it had increased from £278 to £295 an increase of £17 from last year. I suggest that the reason why your insurance has skyrocketed is precisely because you are driving an EV and no other reason. To be honest I am a bit older than you and have an 11-year NCB but I also live in Central South London where insurance rates are notoriously high. I only drive around 3000 miles a year as I have good access to public transport and ride a 1250 Suzuki Bandit, which costs me £250 per year to insure. The problem with people is that it is far easier to con them than it is to convince them that they have been conned.
Evs are simply not fit for their intended purpose and as they are at this moment are a total disaster for everyone who has anything to do with them. This could change in the future but anyone who buys a new one at this moment clearly has far too much money than sense. If you can afford to lose between 35-75% on depreciation every year you can afford to cough up on the insurance. As EVs stand at this time EV owners should feel themselves extremely fortunate that anyone is kind or stupid enough to ensure them at all and at any price. If I was you I would assume that next year the price will have doubled again. I hear that some people are so dissatisfied with their EV they are already deliberately torching them. If this becomes any kind of habit, all bets are off on the price of EV insurance.
However, I look forward to the time when I will soon be able to pick up a 4-5-year-young EV Porche or Jag for so close to nothing it may as well be nothing and give it to the Mrs to do her shopping with. At this point, EVs will be used for the only purpose they were ever really suited for and be at a price that truly reflects their real value. When they are known to have no real value the cost and therefore the price of insuring them will instantly and necessary reflect this.
Thus, soon enough our universe will again be brought into balance until the next time our governments go collectively insane with taxpayers' money.
.
Watching this page from New Zealand. About five years ago I had a 4.0l six cylinder Ford Falcon. Comprehensive insurance for a 40ish driver plus any driver over 25 was just under $460. At the time conversion would be about £220. Moving back to the UK soon. Cannot comprehend why they charge so much. Guessing they have shareholders to keep happy and a boss who wants a new BMW
Just moved from a Jaguar F-Pace with fully comp insurance costing me £294 per year, to a 6-month old Tesla Model Y LR and the insurance went up to £747 per year 🙄
I had to take out a complete new policy with Admiral, as the insurers who I had been with for 8 years, including 4 years with the F-Pace, wouldn't insure the Tesla 😱
Needs to be an investigation into the insurance industry and whether they are penalising EV cars and drivers.
Hope you're well Ian.
I don’t think they are penalising EV’s . Insurance reflects the risk involved .
Should of kept the F-Pace
They are penalizing the EV's. They burn hotter when they catch on fire than a gas or diesel vehicle and are very hard to put out. The cost of repairs and battery replacement are astronomical, and every one's rates will go up to cover cost. The EV has a high risk.
@@sobeit1927 Well considering the EV burns hotter when on fire, hard to put out than a gas or diesel and the cost of repairs or battery replacement are so high, yes, they are raising everyone's rates to cover cost.
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
There are many reasons for EV insurance going up, including the cost of repairs, there is more claims data out now for them, if they get involved in an accident then they become a bigger risk, so it doesn't matter if it was non-fault your vehicle now becomes a higher risk because there is no way of telling if there was damage to the batteries. Plus the possibility of causing damage to other cars is increased with an EV.
There seems to be some mystical legend being told about EV batteries. You say there is no way of telling if there is damage to the batteries. Any app will read the condition and even map voltage from individual cells. Spot the faulty cell if there is one and they can replace it. Even the car can do that in the service menu. It’s a battery, not witchcraft
@@justgetatesla I hear what you're saying - and you're probably right. If however insurers disagree they will charge you accordingly regardless.
Not quite correct, the software can tell the condition of a bank of batteries but not individual cells, and although it is possible to replace even just one cell the amount of work it is to do it is extremely expensive. Which is why there isn’t loads of business starting up refurbishing battery packs. Battery cells can degrade at anytime after knocks that’s the big problem and reason it’s hard to judge the condition of batteries after a crash.
Hi I bought a 2021 Kia E-Niro 4+ in October and fully comprehensive cover was £500. My only claim was for a windscreen 2 years ago. Mine of course does not fly down the road like your Tesla.
Apparently you can take out a seperate policy to cover the excess. I'll be looking into this next year when I get my leg lifted by these grifters.
So now we need insurance for our insurance
I've done that for a few years - insuring a £750 excess for around £40 I think
@@colinnich may I ask who you use for the excess cover?
It's very much the same thing here in Australia Ian. I have a 2012 V8 Holden Ute, which had a premium of around £ 220/$ 420 AUD but jumped to £ 515/ $985 pa. I shopped around and initially my old insurer was the most competitive, but 6 months later i checked again when my wife's vehicle was due and found an online deal with one of the top 5 companies for the Ute and got a £ 250 refund!
I also noted that the declarations on most online quotes now asks if you've had a claim regardless of who was in the wrong! The answer being pushed world-wide is either use public transport or buy a pushbike.
No, can’t be true. I’ve just been told by someone who claims to be serious that the only insurance hikes are on EVs because of a fire over here that wasn’t started by an EV. So perhaps your insurance hike on your V8 in Australia is wrong. Unless the people obsessed with hating EVs here are wrong…?😂
It's a car that goes 0-60 in 3 seconds. What do you expect?
It’s fast! But not that fast 😂
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.
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...
How does that answer his question?
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.
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.
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.
I am from the Netherlands. For my 20 years experienced Berlingo I pay 46,- monthly for all-risk with the max. 75% discount. I am thinking of buying a model Y, the insurance will be around 120 to 145 a month.
Why ?
My Tesla model 3 standard is insured by company called
By Miles , fix cost of £137 after that it’s 14p a mile . No black box you just use their app which tracks your mileage only . Worth a try 😊
14p per mile, x 20k miles a year...
@@justgetatesla 🤣 yeah not going to work out much better for you if your doing that sort of mileage. I’m 6k a year so worked out ok for me .
2007 Jeep Grand cherokee.3.0crd,diesel. I am 56 years of age. Scottish Highlands. Went up by about £1, renewed 2 weeks ago, to £227 fully comp.£350 excess.
Got my insurance coming next month, should be fun. I've always opted for no voluntary excess and found that it made not difference to the quote, but will after see at the end of december.
Flow just put mine up by over £200 this year on a diesel Focus and I’m 63 with over 17 years NCB living in London and I also tried shopping around. All were the same or much higher except one that wanted to fit a black box!?!
No thanks! No black box!
I dented another cars bumper,bunged them £250 cash,its really the only way round in small collisions to protect yourself from these vultures.
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.
Crazy! Why has insurance gone up so much for everyone?
My insurance has gone up 58% for my MG ZS EV gen1 and I am 75 and drive less that 4,000 a year but I am now feeling lucky as it’s only £447 for the year...
I have a big heavy diesel SUV, my insurance went up 51% this year. Same insurance provider and no changes to cover. Not great but I still only pay £279 a year.
We are suffering because of the lack of car parts increasing time to repair. Teslas where especially bad for this, the impact was to increase the length people where in hire cars. The increased value of cars also has an impact as the opportunity to cause more damage especially to BEVs increases the cost of claims.
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?
I'm 58, I drive a 2014 Vx Insignia 2.0 Diesel. I don't pay road fund tax as its exempt. I renewed in September with Adrian Flux (I used to drive a modified Vectra 2.0Turbo), and my premium for 23-24 is just under £300 fully comp, with voluntary excess of £200. I also receive the usual breakdown cover and windscreen stuff. I've not made a claim in over 20yrs.
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.
Hi there, I'm a retired lorry driver living in Aberdeenshire, i have an 18 plate Ford Kuga and a 17 plate Motorhome. The quotes
i was getting were a bit hefty so i stayed with the existing insurers, after a haggle my car went up £30 to £307 and the
Motorhome came down £20 to £371 so it seems i got lucky. PS they were different insurers.
An important factor for insurance company risk engines is the number of days til your insurance is due. How many days in advance are you looking? Iirc the ideal is 22 days beforehand to get a quote...
Malaysia, 7+ years old hilux, insured value £14500 and my insurance costed the same as few years before at £171, comprehensive + 55% NCD + personal accident coverage. The other cars that I have, the insurance costed around the same as the past few years too.
Mine went down.
Diesel
For the record I would like a Citroen Ame
Things to plan for, when, not if, they tax by weight and ban the use of the screen whilst driving. Plus, black boxes for everyone. No harsh acceleration and speed limits linked to the sat nav so you can't speed.
Werrrrre dooooomed
Hi Ian, I’ve just got a new Model Y and here in Auckland New Zealand I’m paying $72 per fortnight for fully Comprehensive Insurance
I have a 2006 Toyota Camry which was fully comp but as it's old and if written off would only be worth about $4K I reduced it to Third party property damage only 2 years ago, this cost $175 for the years cover. In Oz, our registration includes injury to people. I have full no claim bonus and been driving for 60 years with no claims. It's an ICE engine, obviously.
this one help help you but it makes a good RUclips update - One trick to test your existing quoted insurance renewal price is to enter your details to a comparison site with your birthday out by 1 day. Your existing insurer will then quote with the rest and you can see what your current insurer us quoting to NEW customers exactly like you
Have a 2009 car and have just renewed. It went from £347 to £363 - fully comp. minimun excess and road side recovery.
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.
Wow your dad is rich !
@@crumplezone1 He bought a Porsche 911 because it was cheaper to insure than the Cosworth.
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
I got my 310ps Cupra insured fully comp for £389 with over 10 years NC and i am an advanced driver as well
Got to wonder what the additional cost of repairing cars built with giga-castings will be too? Not just Tesla either, other car companies are going to be bringing in this tech too as the manufacturing cost savings are significant.
That will all depend on whether they crack and fatigue or not ...
@@justgetatesla I was thinking more about the impact on insurance repair bills. As you point out insurance costs are getting a bit frightening. Good honest video 👍
LV quoted me 80% increase for my BMW i4 M Sport but luckily BMW Flex offered a quote only 10% above the original LV price last year. I'm in the UK
my "premium" did NOT go Crazy, a 20yr 1.9D Van Up From £320 To......£355... loving it.
Hey, Pieter from the Netherlands here.
i found an insurance for a new tesla Y from this year and all risk would cost me 81 euro per month.
Limited casco would cost me 44 euro per month.
I was considering buying Tesla recently but after receiving quote of over 1800£ nad to give up my dream and that is with me being over 40 with 14 years of no claims discount and no points on license. Just crazy and no resemblance with reality
There is the possibility of replacing batteries after accidents either by being hit or driving over something, being part of the reason the prices go up.
Not saying that is the reason, but as the number of evs enter the market, the number ev fires will go up and with batteries prices as they are could be putting off companies from insuring evs, then prices are bound to go up.
Just a thought..
My worry is if the renewals are astronomical more folks may be tempted to not bother insuring and run the risk. Then you have the added problem for those that do insure their vehicles at crazy prices find that they may have an increased chance of colliding with an uninsured motorist. Then we’re in bigger problems
insurance is like a casino, they know the odds :)
They know what is coming,they know the truth, and they dont want nothing to do with EVS.
If that was the case why are they insuring EVs?
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.
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!
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.
TESLA MODEL S P100D 2019 - Churchill £740 fully comp for year with no excess, only 2 weeks ago. I'm a 40 year old driver with no points and 9 years NCD. HOWEVER -- When I hadn't changed the address to my new place it was quoting me like 1600 ... but as soon as I put my new address it was down to 7-800. I think the location is a bigger deal than you think these days!?!?
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.
My insurance went up by 90% for the same car ,managed to get it down to 40% increase by shopping around , i have no points and no accidents on my record
Crazy!
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.
I live in Idaho and have a 2022 Subaru Outback and a 25 year old car. We pay yearly less than you pay quarterly.
After watching this I am really, really concerned about what quote I am going to get. M3LR due in November.
Are there no specialist brokers for EVs? I still get competitive rates for my modified cars compared to the current craziness. My wife’s 1.2 Fabia I struggled to get the price lowered anywhere through comparison sites.
I’ve just renewed my insurance for my Citroen C4 today it has gone up to £252 from £198 last year so it’s about 25%increase and I only have £150 excess
It's not just the cost of repairs it's the cost of the hire of a replacement car while your car is being repaired. It is also the length of time the garages are sitting on ones car before they even start to repair it. As an examp!e, we have a car that took almost 3 months to repair with minimal damage. The repair garage said he was short staffed and thus the delay. The car only got finished when the insurance provider questioned why such a long delay. Needless to say ,he car then got finished.
This year in August, I was going to buy a new Model Y. I looked on line to see what it would cost to insure and the majority of insurers declined to quote (I'm 56 with 30 years no claims). Only two did, one of them being my current insurer - and the two quotes were £4,990 and £5,250. Both with £1000 excess and both limited to 10,000 miles per year. Needless to say, I didn't proceed with the purchase.
The renewal on my current car (Range Rover Sport) was a much more reasonable £560, though even that was 20% higher than last year. I'll be hanging on to the RRS.
Based on those quotes I don't blame you! Hope its not a *diesel* RRS. they catch fire...
🤣@@justgetatesla
@@justgetatesla Only the PHEV ones apparently.
377,69 British pounds or 435 € for full year comprehensive + collision coverage combined in one policy. Car is Fiat 500X 120 HP diesel. And that sounded a lot (5 € increase from last year) until now. Thank God i live in Croatia 😀
I’m paying £385pa on my one week old Tesla moving from an ID.3. Like you I couldn’t believe the quotes, one went up from £685 to £1258 as I was completing the form. In desperation I rang my existing insurers, Privilege, and they gave me the quote that I’m now paying. I’m bracing myself for next year though as insurers are without doubt the biggest cowboys in town.
For comparison, I have a 2015 Toyota Highlander that I pay $980/year for insurance in a "big" city in the U.S.A. rural wild west. We do get a low mileage discount for less than 7500 miles per year but in the States our rates are definitely a function of the size and risk factor of our city and the Zip code of our residence, and whether we have teenage drivers in our household, which we do not. This year my rates went up about 9.6%. Definitely not as bad as your increase, but overall, we are paying a quite similar auto insurance rate.
All policies have gone up, but mine and my husband's have gone up about 10%.
I have just gone from a Jaguar Sport Brake 3 litre diesel to a low mileage second-hand model 3 2020.
My insurance has gone from £350 to £1020 with double the excess. As you said prices have gone up ridiculously but there is also a prejudice against electric cars I am sure!! So much for saving the planet! 🤬
Yes, the EV's are causing the rates to go up. The fires are hard to put out and the cost to repair or replace a battery are astronomical. They have to raise rates to cover the costs.