Ludicrous!

[GMB]

 

The joys of owning a Tesla or similar. From the Guardian today. Quote:

 

"  Driving an electric car should be a win-win, saving money and the planet. So David* was shocked when the insurance on his Tesla Model Y came up for renewal, and Aviva refused to cover him again, while several other brands turned him away.

When David did secure a new deal, the annual cost rocketed from £1,200 to more than £5,000.

 

“My insurer was Aviva from July 2022 to July 2023, but when it was coming up for renewal, I received a letter stating that they would not be covering the Tesla Model Y any more,” David says. “I am a member of a Tesla UK owners forum, and lots of other people seem to be having the same issue.”

In the Facebook group, members share stories of horror renewal quotes, with increases ranging from 60% (up to £1,100) to a staggering 940% (a jump from £447 to £4,661, according to a screengrab shared by one driver).   "

[Malc1]

2 hours ago, NemesisUK said:

In fact it will be a blessing being so quiet as it won't detract from them listening to the latest xyz podcast ...

the Ls400 V8 4 ltr is really as quiet as a mouse in deep slumber !

have you driven one or stood besides one thinking it's not been started ?  creeping almost silently up on pedestrians who are shocked realising they are about to be mown down if the driver wished 

AND does anyone have credible reasons from an Insurer as to why this Tesla model is just about uninsurable ?

Maybe the Adrian Flux guys here can reveal ?

Thanks

Malc

[GMB]

23 minutes ago, Malc1 said:

AND does anyone have credible reasons from an Insurer as to why this Tesla model is just about uninsurable ?

I think it is the cost of repairs, scarcity of spares, irreparable damage to Battery systems and finally the high performance in the hands of idiots - maybe?

[Boomer54]

1 minute ago, GMB said:

I think it is the cost of repairs, scarcity of spares, irreparable damage to battery systems and finally the high performance in the hands of idiots - maybe?

I could get the repair costs being an issue being tech heavy. However, you would have thought that was already captured by the premiums so it does not really explain the unprecedented uplift in the premiums one year to the next. However, like it or not their is Acturial data underpinning premiums and I imagine that is very much evolving . Perhaps the Insurers are simply finding the costs of underwriting these types of cars is not what they initially thought it would be. If that were so of course it is yet another roadblock to ownership.

[dutchie01]

45 minutes ago, Malc1 said:

 

AND does anyone have credible reasons from an Insurer as to why this Tesla model is just about uninsurable ?

Maybe the Adrian Flux guys here can reveal ?

Thanks

Malc

Is it Theft? like the Range Rovers in London?

Or lack of spare parts as this model is no longer produced in RHD?

Suerly it wont be connected to beeing an EV as the model 3 is on every streetcorner now.

 

[GMB]

If you google expensive repairs to tesla or similar query you will see. For example:

• There were 120 Tesla Model Y electric vehicles listed in two large salvage auction houses recently, and the "vast majority" had under 10,000 miles on them, according to a report from the Reuters news service.

• The insurance companies that covered these vehicles decided that even with so few miles on them, these Teslas aren't worth the $50,000 or so they sometimes cost to repair.

• The cost to fix a car has gone up as the ease has decreased over the years, which has prompted a discussion over so-called Right to Repair laws, which would give owners more rights to fix the things they buy.           

• Or a similar headline from the USA motoring press   -  Crashed Teslas With Low Mileage Are Being Scrapped Because They’re Too Expensive to Fix

[dutchie01]

So, would that not be thesame for ALL electric cars? Are ALL insurance premiums going up for the entire BEV fleet?

If not what could it be the model Y stands out?

[NemesisUK]

45 minutes ago, dutchie01 said:

So, would that not be thesame for ALL electric cars? Are ALL insurance premiums going up for the entire BEV fleet?

If not what could it be the model Y stands out?

Because Musk has dropped the price of new cars considerably over the last few months. They are just not worth what they were...

[Malc1]

Mr Adrian Flux is on here somewhere .  he pops up whenever someone thinks about getting an insurance quote !

AF are probably programmed to see what's going on whenever the word " insurance " pops up

Malc

 

[javadude]

59 minutes ago, NemesisUK said:

Because Musk has dropped the price of new cars considerably over the last few months. They are just not worth what they were...

The plus side is you can pick up a used Tesla pretty cheap these days which is good news for some.

As mentioned the insurance can be high, one reason being the insurance group (my LR is group 50) but it depends on circumstances: I pay £760 but I'm 55 which helps.

[ColinBarber]

3 hours ago, dutchie01 said:

Is it Theft? like the Range Rovers in London?

and the Lexus RX with people’s premiums going up x4.
 

Telsa 3 and Y are pretty much unstealable at the moment. The premium increases seems to be related to the high cost of repair, somewhat due to parts availability causing 5 figure hire car charges. 

[Barry14UK]

Unless you can easily afford to pay extortionate rates of insurance anybody about to purchase a high performance car should get quotes as part of basic research and selection cos some people are going to be disappointed and change their choice.