EV Insurance

[Greenmantle]

Been getting some quotes on a prospective purchase.

Mid 50s
no accidents
no points
full license since 18
3 years NCD (2nd car has most of the NCD)
15K miles per year (will be my daily)
just social since I WFH
vehicle is an EQA 300 or 350 used around £30K.
(I'm aware of the battery damage issue on the 350)
Home Counties close to M25

Direct Line - wont quote
Aviva - £3.5K
LV = £5.5K
NFU = waiting on callback
Admiral, Elephant and Diamond all about £1k through comparison sites

pretty poor really.

[raspy]

Greenmantle said:

Been getting some quotes on a prospective purchase.

Mid 50s
no accidents
no points
full license since 18
3 years NCD (2nd car has most of the NCD)
15K miles per year (will be my daily)
just social since I WFH
vehicle is an EQA 300 or 350 used around £30K.
(I'm aware of the battery damage issue on the 350)
Home Counties close to M25

Direct Line - wont quote
Aviva - £3.5K
LV = £5.5K
NFU = waiting on callback
Admiral, Elephant and Diamond all about £1k through comparison sites

pretty poor really.

Those cars you are looking at fall into high risk insurance groups, 42 to 45 depending upon model and spec, so it's not going to be a "low quote", relatively speaking.

How much were you expecting to be quoted?

[df76]

I checked on my possible insurance costs the other day. My recently departed Mini Cooper S was costing £200 a year to insurance.. it's value was only about £1800. Checked a quote on a new £30k Cupra Born, and that was £400 for the year. Didn't seem outrageous to me, but insurance is a proper game and not sure if it's really just an EV issue.

[TheDeuce]

raspy said:

Those cars you are looking at fall into high risk insurance groups, 42 to 45 depending upon model and spec, so it's not going to be a "low quote", relatively speaking.

How much were you expecting to be quoted?

I wonder why the mercs are so high? My i4 M50 is almost double the power, same sort of weight - insurance group 43.

More relevantly, with Admiral (as the OP has a quote from) just £600 for their top level of EV cover inc:

---

Platinum, Protected No Claims Bonus, AA Roadside Assistance Breakdown Cover, Motor Legal Protection and Windscreen Cover

---

Clearly something else is influencing the quotes in this instance.

[raspy]

TheDeuce said:

I wonder why the mercs are so high? My i4 M50 is almost double the power, same sort of weight - insurance group 43.

More relevantly, with Admiral (as the OP has a quote from) just £600 for their top level of EV cover inc:

---

Platinum, Protected No Claims Bonus, AA Roadside Assistance Breakdown Cover, Motor Legal Protection and Windscreen Cover

---

Clearly something else is influencing the quotes in this instance.

You may not be aware, but performance/top speed of a car is only ONE of a number of data points used to assign a new car's insurance group rating in the UK.

"With over 125 data points reviewed as part of the process, Group Rating considers, amongst other things, parts pricing – using a standard list of the most commonly accident damaged panels and components – and the standard fitment and performance of autonomous emergency braking (AEB) systems. All these elements are under constant review, ensuring the latest vehicles and technologies are reflected in the algorithm to provide a consistent and accurate view across vehicle risk."

"Group Rating scores are based on various factors. Subject to constant and detailed review, these currently include:

Cost
The repair strategy required, as well as the cost and time it takes to return a vehicle to its original condition after a claim.

Price
The new price of the vehicle, reflecting variations in trim levels and the cost of settlement in the event of a total loss.

Performance
The vehicle's performance, including its 0-60 acceleration time, weight, and top speed.

Design
The complexity of the vehicle’s standard fit systems including security and active safety equipment."

Source: https://www.thatcham.org/pf/group-rating/

[raspy]

From another forum, this could be why the OP is facing unexpected high insurance quotes.

The conclusion of the post below in Dec 2023 (from another forum) is that the insurance company wrote the car off (it was a 2.5 year old EQA)

"unfortunately our EQA was hit side on by a van a few weeks ago, quite a bit of damage to passenger side, both air bags deployed, glass shattered. Car was inoperable and had to be removed by recovery vehicle. Just waiting for estimate from insurance company."

https://forums.mbclub.co.uk/threads/eqa-side-impac...

[LowTread]

Just renewed mine.

Tesla Model 3 Long Range: £700
Lotus Elise 111R: £350

Admiral multi-car.

Elise is garaged. 3k miles/year. 0 NCB
Tesla is on the drive. 15k miles/year. 9+ NCB
Semi-rural postcode.
No claims/convictions.
Professional occupation.

[TheDeuce]

raspy said:

TheDeuce said:

I wonder why the mercs are so high? My i4 M50 is almost double the power, same sort of weight - insurance group 43.

More relevantly, with Admiral (as the OP has a quote from) just £600 for their top level of EV cover inc:

---

Platinum, Protected No Claims Bonus, AA Roadside Assistance Breakdown Cover, Motor Legal Protection and Windscreen Cover

---

Clearly something else is influencing the quotes in this instance.

You may not be aware, but performance/top speed of a car is only ONE of a number of data points used to assign a new car's insurance group rating in the UK.

"With over 125 data points reviewed as part of the process, Group Rating considers, amongst other things, parts pricing – using a standard list of the most commonly accident damaged panels and components – and the standard fitment and performance of autonomous emergency braking (AEB) systems. All these elements are under constant review, ensuring the latest vehicles and technologies are reflected in the algorithm to provide a consistent and accurate view across vehicle risk."

"Group Rating scores are based on various factors. Subject to constant and detailed review, these currently include:

Cost
The repair strategy required, as well as the cost and time it takes to return a vehicle to its original condition after a claim.

Price
The new price of the vehicle, reflecting variations in trim levels and the cost of settlement in the event of a total loss.

Performance
The vehicle's performance, including its 0-60 acceleration time, weight, and top speed.

Design
The complexity of the vehicle’s standard fit systems including security and active safety equipment."

Source: https://www.thatcham.org/pf/group-rating/

Yes I'm aware, it's common knowledge surely?

The car ranks high on all those metrics, other than perhaps the first which I suspect accounts for the difference - BMW seem particularly 'on top' of their EV repair/supply infrastructure compared to others.

[Martyn76]

I'm looking at used Tesla Model 3 LR cars and did an insurance check via Compare The Market, cheapest prices were low £500s, didn't seem too bad for the level of performance available and reported issues around higher repairs costs for EVs in general, appreciate there are many variations to insurance quotes, Im
47, full (protected no)claims, parked on a driveway social and commuting\business, NN18 post code

[Greenmantle]

Did some more analysis

switched address to parents - not much difference
switched to a mates address - more rural but in the same main postcode area - a little cheaper
switched to GLA 220d - no difference in any address
will try a M3LR next - not thinking it will make any difference.

[Murph7355]

Insurance generally is ramping up.

Loads of reasons why. Fundamental issue is the number of claims being made and the sizes of those claims... I reckon hire car provision whilst things are being fixed is a big factor (can you drop that as an option to see what it does?) plus parts and labour just getting more expensive.

[Greenmantle]

Murph7355 said:

Insurance generally is ramping up.

Loads of reasons why. Fundamental issue is the number of claims being made and the sizes of those claims... I reckon hire car provision whilst things are being fixed is a big factor (can you drop that as an option to see what it does?) plus parts and labour just getting more expensive.

my quotes have all been no frills / vanilla
I originally thought that the high premiums were due to increased claims in my postcode especially when others have posted premiums in the range £500 to £700 for say an EQC. I'm not sure now what it is. Going to also try increasing NCD since I have tonnes of NCD on my other car.

[Sheepshanks]

Greenmantle said:

Did some more analysis

switched address to parents - not much difference
switched to a mates address - more rural but in the same main postcode area - a little cheaper
switched to GLA 220d - no difference in any address
will try a M3LR next - not thinking it will make any difference.

On the Honda eNy1 thread someone got a low quote using TopCashback Compare, cheapest quote was Aviva, around £350 I think.

Insurance generally seems to have gone very weird - wife ticks every box that should make her insurance as cheap as it could be, went up 68% this year and shopping around other firms were +100% and even the likes of Admiral were +200%. You just wonder if you're missing a trick in doing the quote but I tried cahnging everything possible to make it cheaper and nothing made much difference, except with some insurers, changing the value of the car made a chunky difference.

[Gerrymm11]

I bought a 2020 e-tron 55 three weeks ago. My insurance was £700, I don't have any NCB.

Out of interest I ran another quote with Confused and CTM earlier this week and the cost was £2,500.


Something is going on with EV insurance at the moment!!

[Road2Ruin]

Ran a quote on my wife's skoda enyaq, £284, fully comp. Although it's not a performance vehicle, something is wrong with your address, job, vehicle, history etc. I did one for a polestar 2 a whole back, as we were interested in that. It was just over £500.

[SeeNoWeevil]

£470 for a Model 3 Performance with breakdown cover, 42yrs old, good area, 12yrs+ NCB, low annual mileage. £170 more than a 1.2 Seat Ibiza.

[Greenmantle]

changed to 9 years NCD
M3LR still coming in at £900 to £1000.
EQA300 = £1000
GLA220d = £1000

looks like £1000 is now the new norm for me!

[Griff43V8]

wot??!! - Insane!

[Snow and Rocks]

Greenmantle said:

changed to 9 years NCD
M3LR still coming in at £900 to £1000.
EQA300 = £1000
GLA220d = £1000

looks like £1000 is now the new norm for me!

Must be location - where in the country are you?

[raspy]

Greenmantle said:

changed to 9 years NCD
M3LR still coming in at £900 to £1000.
EQA300 = £1000
GLA220d = £1000

looks like £1000 is now the new norm for me!

My insurance has always been above £1000 for the last 10 years, even on ordinary cars. I live in suburban London, that's why. I'm paying £2,200 for my iX this year, which I thought was very good value.