Insane insurance quotes for Lexus NX450 in London

Terry1956 · September 3

I think that one of the problems facing insurance companies is the cost of electric cars. I watched a few videos on utube about the cost and reasons given for replacing the Battery on an electric car. One VW model cost £50,000 to buy new, yet the cost of a replacement Battery was over £60,000. A number of drivers have been told that there car was a right off due to the outer casing of the Battery being lighter damaged by speed bumps. Due to the cost of the replacement Battery. The insurance companies right off cars with less then 6 months of road use. I have a mate who works for a car body repair centre. He told me that due to the risk of Battery fires or worse only fully trained people could work on the car. I saw in the workshop a Porsche electric car with bollards all around it taking 4 car slots. Also the workshop insurance was sky high due to risk of fire. In truth electric cars are a very bad idea, and we are all paying for it one way or another.

Tickedon · September 3

1 hour ago, BonzoSPB said:

One insurer told me that the main issue was the rising costs of spare parts which I'd have believed if the insurance costs for similarly priced cars i.e.: BMW, Audi and Mercedes, was the same for my NX450h - they weren't. Also, many of the BMW, Audi and Mercedes models I'd looked into were more powerful performancewise which I'd have expected to have impacted the insurance cost.

So, unless the costs of parts for Lexus models has rocketed for some reason I feel I'm being ripped off.

I had the opposite and found insurance groups and thus pricing was similar for where ai live.

Audi Q5 50 TFSi e - group 40 to 43 depending on trim
BMW x3 30e xLine - group 38 (7bhp less than the Lexus)
Lexus 450h+ Premium - group 38 (increases on higher trims)

Comparing to a petrol / diesel non-PHEV models isn’t an accurate comparison.

BonzoSPB · September 3

15 minutes ago, Tickedon said:

I had the opposite and found insurance groups and thus pricing was similar for where ai live.

Audi Q5 50 TFSi e - group 40 to 43 depending on trim
BMW x3 30e xLine - group 38 (7bhp less than the Lexus)
Lexus 450h+ Premium - group 38 (increases on higher trims)

Comparing to a petrol / diesel non-PHEV models isn’t an accurate comparison.

Yet I can get insurance cover for the X3 30e for around £280 less than the 450h.

rafarules · September 8

Just opened my Ins renewal email (through squinty eyes)…was dreading it. Not too bad at all considering I live in a large city. 9k miles, lots of NCB etc and it came in at £700 with Aviva.

I dare say that I could get it cheeper with other companies, but have found others to be expensive if you need to make changes (Hastings Direct in the past were shocking).

Knowing what a friend pays for his Defender in central London, I’m kind of happy to pay this one!

September 21

I recently had my renewal arrive - Lexus NX 300h in London.

2 years ago I was paying £480, last year it increased to £800 and this year they want £2100! - shopping around I can get it down to around £1500 with a more obscure company with a higher excess.

Apparently this is due to the security issues with this car as mentioned here.

Even if Lexus come up with a fix for this problem the insurance companies will still treat the car as a high security risk and it will no doubt also affect resale values.

So I traded my car in this week for a different brand ( insurance £1500 cheaper!) while it is still worth something.

zanderblue · September 23

I’ve just had my renewal through from NFU. Last year was £480, this year they are quoting £890!!!
This is for rural Aberdeenshire, where car crime is not that big a problem. I’ll be having a look around for sure.

Al D-Much · September 25

Car manufacturers lobby (bribe) insurance companies for reduced groups / rates on certain models. think of it as a buying in bulk volume discount.
Lexus producing far fewer cars won't have the same financial power, even if they are a sub brand of Toyota.
also, IMO the european market (geographical) don't like the asian invasion.

Neil James · November 18

Have you tried `NFU Mutual?

BonzoSPB · November 19

9 hours ago, Neil James said:

Have you tried `NFU Mutual?

I tried NFU Mutual and had to use the classic 'No, it's a Lexus, not a Lamborghini line' after receiving an astronomical quote. On asking why their quote was so ridiculous they offered no reason.

Ken R · November 19

Yes, NFU astronomical in Central Scotland too. I've been with Aviva for a few years now and they are very competitive.

old man 2 · November 19

NFU have been at the top of the leaderboard for performance for some years now, but they have never been the cheapest.

Apart from swapping stories, it's pointless comparing insurance quotes as all circumstances are different for us all.

Before taking delivery of my Lexus last week, I rang my insurance company to inform them that I was changing cars. They very kindly informed me that they would not insure the Lexus - no reason given.

I therefore had to find another insurer (Hastings Direct) and paid £418.

GEN · November 19

I used to get quotes from Lexus and Aviva but they have been consistently the most expensive so I don't bother asking anymore.

Hayzee · Tuesday at 10:02 PM

12 hours ago, old man 2 said:

I therefore had to find another insurer (Hastings Direct) and paid £418.

Paul......I note your forum nick name but old age has seen my insurance double in the last year to more than twice your quote. And I've been through the comparison sites, and I have max no claims and a no licence points.

old man 2 · Wednesday at 02:46 PM

16 hours ago, Hayzee said:

Paul......I note your forum nick name but old age has seen my insurance double in the last year to more than twice your quote. And I've been through the comparison sites, and I have max no claims and a no licence points.

I haven't really noticed my premiums increasing with age, but it may be hidden by the fact that premiums are on the rise anyway and when I change my car, it'a always for something more expensive.

As I said earlier, we cannot compare insurance quotes because our circumstances vary so much.

My wife and I have always had our own car up until 2022 when we decided that one vehicle would now suffice. In February this year when it came time to insure my previous car, we decided to do it in my wifes name so she could maintain her NCB entitlement. The difference in premium between me and her was only £5 to insure the car so it made sense.

When we bought the Lexus last week we kept it in her name so she could get at least a year under her belt to maintain her NCB. When it comes time to renew the insurance next November I'll revert it back to me, assuming I can get a decent quote.

RONNIE W HODGEKINSON · Wednesday at 03:08 PM

On 8/28/2024 at 10:33 AM, edgahan said:

Hi all,

I've been looking to lease a new Lexus NX450 premium (not F-sport, etc) and I was about to pull the trigger for getting one in Sept but decided to get some insurance quotes (w/o registration numbers).
These are coming out at 2-3k per year! I've tried a couple of comparison sites and independents.
I don't get it - for some context I currently lease a Volvo XC40, which doesn't have as high of an MSRP however it's ~£500 per year.
It's just me (38 year old) and my wife (47 years old), I've had a license since 2012, she's had it since 1995. Using the car for ~4k miles a year for leisure/social. I've got 11 years no claims she had a relatively minor accident in 2021 (~£1.5K payout to third party). I'm putting myself as the primary (which is what we have now) but maybe I should switch it?
I saw some posts on here where people have normal annual fees, what am I doing wrong? Is it my postcode possibly? (Ruislip, London).

E

Ed... Car Insurance is a Lottery Game Always Has been..I Assume you have Checked the usual Sites Compare the Market / confused.com / Go-Compare Etc... There are others i have seen on Here from Round about Your Area Not getting those Kind of Quotes......Personally i think The Preceding accident has Made The insurance Companies Edgy But I Could be Wrong..Best Advice is Keep searching ED And Check Your insurance Details are Accurate You Might want to increase your Excess, Change where your car is Parked overnight etc Get my drift... Have you tried Darwin Insurance Or Aviva Thats who i am Insured with and Got a Good price....Just keep doing your Homework and the right deal will present itself.. Sorry i Can't be any More help to you..R