Tesla insurance expensive?

[megaphone]

I'm seriously considering a used Model Y long range (22/23 plate), but I'm trying to make the figures add up. Insurance cost is putting a dent in my calculations, I'm being quoted £1300+ for very basic insurance, I pay £350 for my current Ford Smax. Ok my current car is 10 years old but still.... Are EV's/Teslas just expensive to insure?

Anywhere I should try to get it down to a sensible premium? Any EV /Tesla specific providers?

It's looking like running a Tesla will cost me 30% more than running my ICE car, that's without the 3p/m that is coming.

[NDA]

Try Admiral, they're pretty good for my Tesla... Direct Line used to be good, but they're now quite expensive.

[RammyMP]

The wife asked the same question, she bought an electric car that does 0-60 in 3.5 seconds then was complaining that her insurance was expensive!

[megaphone]

NDA said:

Try Admiral, they're pretty good for my Tesla... Direct Line used to be good, but they're now quite expensive.

Admiral is the cheapest quote, £1300 .....with a black box! What do you pay?

[Sheepshanks]

Daughter's insurance for a new Kona EV was £1100 - she'd been paying £450 on her SEAT Ateca. It did drop to £600 on renewal. Maybe it's just very dear when new, in case the car gets written off and they have to replace it?

I looked around for me, looking at nearly-new cars, and found Teslas and iPace's were very high, others not too bad.

[megaphone]

Sheepshanks said:

Daughter's insurance for a new Kona EV was £1100 - she'd been paying £450 on her SEAT Ateca. It did drop to £600 on renewal. Maybe it's just very dear when new, in case the car gets written off and they have to replace it?

I looked around for me, looking at nearly-new cars, and found Teslas and iPace's were very high, others not too bad.

Interesting, what were the quotes for the Tesla? I also like the iPace, but I just need the 300 mile range of the Model Y.

What are others paying?

[LHRFlightman]

Year 1 I paid £480. Year 2 I paid £770, no accidents, no change of circumstances. Year 3, I've just paid £520.

No idea why it fluctuates so much.

[Sheepshanks]

megaphone said:

Sheepshanks said:

Daughter's insurance for a new Kona EV was £1100 - she'd been paying £450 on her SEAT Ateca. It did drop to £600 on renewal. Maybe it's just very dear when new, in case the car gets written off and they have to replace it?

I looked around for me, looking at nearly-new cars, and found Teslas and iPace's were very high, others not too bad.

Interesting, what were the quotes for the Tesla? I also like the iPace, but I just need the 300 mile range of the Model Y.

They were both £1500 upwards. This was late 2024, so I think we may have just caught a bit of spike in premiums.

Had a rethink and got Kona for daughter instead as she does a big commute, and I’m running around in her old car (I’d sold my car in Covid and then retired).

I’ve read Tesla s are different to repair, and parts availability is very iffy.

[TheBinarySheep]

Model 3 Performance. I pay £430 a year.

[NDA]

megaphone said:

NDA said:

Try Admiral, they're pretty good for my Tesla... Direct Line used to be good, but they're now quite expensive.

Admiral is the cheapest quote, £1300 .....with a black box! What do you pay?

It's £500 a year for me.

[megaphone]

Ok thanks I’ll check some other quotes.

[Sheepshanks]

megaphone said:

Ok thanks I ll check some other quotes.

You might know this already, but when you're running quotes don't put the start date in the next few days. There's supposed to be an optimum delay of something like 3 weeks, but I found it was only within a few days that it made a big difference.

[NDA]

Sheepshanks said:

megaphone said:

Ok thanks I ll check some other quotes.

You might know this already, but when you're running quotes don't put the start date in the next few days. There's supposed to be an optimum delay of something like 3 weeks, but I found it was only within a few days that it made a big difference.

Yep - I think 21 days is optimal.

Obviously every quote is going to be different - age, post code, business/commuting use, garage etc. But I'm surprised Admiral has come up at £1300 for a Tesla.