Motoring Discussion > Obtaining insurance for an EV	Tax / Insurance / Warranties
Thread Author: henry k	Replies: 45

Sun 1 Oct 23 09:04   Obtaining insurance for an EV - henry k

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Sun 1 Oct 23 09:58   Obtaining insurance for an EV - Bromptonaut

This was covered in the Guardian's money page yesterday. A number of insurers, including one providing cover under the John Lewis brand, are refusing new business and/or declining renewals for EVs. Tesla model Y seems to feature strongly but there are other models as well. Reply to this message | Report message

Sun 1 Oct 23 10:24   Obtaining insurance for an EV - smokie

My EV insurance went from c £300 to c £380 at renewal in July. I thought that weas a bit steep!! :-) (I was with the AA for £300 but they went up to something over £500) Reply to this message | Report message

Sun 1 Oct 23 16:20   Obtaining insurance for an EV - CGNorwich

I paid £360 to insure an ID 3 in January. Currently cheapest quote on Go Compare is £510. For comparison a similarly priced Golf would now cost £445. A Tesla 3 would cost me at least £2,600 Conclusions. All Insurance premiums have risen steeply. BEVs are slightly dearer than an equivalent ICE vehicle. Teslas are very expensive to insure. Reply to this message | Report message

Mon 2 Oct 23 12:26   Obtaining insurance for an EV - Manatee

>> Conclusions. All Insurance premiums have risen steeply. They sure have. Ours all when up c. 30%, My son's (age 38) has just gone up 80% on a 2010 MX-5. The renewal quote was the cheapest option he could find. Reply to this message | Report message

Sun 1 Oct 23 11:31   Obtaining insurance for an EV - zippy

>>Tesla model Y seems to feature strongly but there are other models as well. I wonder if it's because of parts availability. I recall an article about someone who's Tesla was delivered without brake pads and there was a delay in getting new parts: insideevs.com/news/561545/tesla-model3-missing-brake-pad/ and the cost of replacing batteries: electrek.co/2021/09/13/tesla-battery-pack-replacement-repair/ I did read an article about a common electronic component in EVs that failed (perhaps something like an inverter) and of course most manufacturers want to replace the full unit which was beyond economic repair for some older EVs. You are now getting independent workshops that strip these out and fix the individual components within. Reply to this message | Report message

Sun 1 Oct 23 16:21   Obtaining insurance for an EV - martin aston

Of course it’s not just the EV owner who will face extra costs. No doubt part of the rise in recent ICE insurance rates is that with more EVs on the road there is an increasing likelihood of a ICE car being in an accident with an EV. It takes two to tango (or tangle). Last edited by: martin aston on Sun 1 Oct 23 at 16:22 Reply to this message | Report message

Sun 1 Oct 23 17:52   Obtaining insurance for an EV - CGNorwich

Statistically unimportant I would think. The main driver for the increases are cost of parts, soaring labour costs and increasing values of vehicles of all types. There is also an increase in miles driven since the Covid years. Insurers are determined to drive up profit margins Insurance has been cheap for years. Things are changing. Reply to this message | Report message

Mon 2 Oct 23 21:52   Obtaining insurance for an EV - Mr Moo

Other key factor is that recently, for every £1 car insurers in this country have taken as premium, they’ve paid out around £1.20 in claims. Clearly they won’t entertain being loss making, so we’ll all be paying more. Especially EV drivers. Reply to this message | Report message

Tue 3 Oct 23 14:12   Obtaining insurance for an EV - CGNorwich

>> Other key factor is that recently, for every £1 car insurers in this country have >> taken as premium, they’ve paid out around £1.20 in claims Not actually strictly true. Their NCR (Net Combined Ratio) last year was indeed around 120% but this includes operating expenses and overheads as well as claims. Anything under 97% would be good and indeed even with an NCR over 100% an Insurer can still make a profit from investment. Reply to this message | Report message

Mon 9 Oct 23 12:20   Obtaining insurance for an EV - Fursty Ferret

Just tried to get a quote for my Model 3 LR. Approaching decrepitude - ie 40 - from an age point of view with no claims and the lowest price that came back was £2,072. That’s a sleepy village in North Yorkshire too. I had been thinking about buying the car at the end of the salary sacrifice lease but not any more. Reply to this message | Report message

Mon 9 Oct 23 13:04   Obtaining insurance for an EV - Bromptonaut

>> Just tried to get a quote for my Model 3 LR. Approaching decrepitude - ie >> 40 - from an age point of view with no claims and the lowest price >> that came back was £2,072. That’s a sleepy village in North Yorkshire too. >> >> I had been thinking about buying the car at the end of the salary sacrifice >> lease but not any more. That's pretty much exactly what was being charged by LV for renewal by the chap who featured in the Daily Mail and elsewhere over the weekend. The headline figure was the other quotes which were as high as £9k. www.msn.com/en-gb/cars/news/the-bill-for-insuring-your-electric-car-can-rocket-to-9-000/ar-AA1hR2Hx? He was in London though, not North Yorks. Is there a significant loading for your occupation? Last edited by: Bromptonaut on Mon 9 Oct 23 at 13:05 Reply to this message | Report message

Mon 9 Oct 23 15:00   Obtaining insurance for an EV - Runfer D'Hills

>>Is there a significant loading for your occupation? Only if he tries to fly it! ;-) Reply to this message | Report message

Mon 9 Oct 23 17:49   Obtaining insurance for an EV - Robin O'Reliant

>> >> >> Only if he tries to fly it! >> ;-) >> Reminds me of a stop when I was riding a motorbike along the embankment countless years ago - "Good morning Group Captain, having a little trouble lifting off, are we sir?" Reply to this message | Report message

Mon 9 Oct 23 18:18   Obtaining insurance for an EV - legacylad

£292 for a GR Yaris in a sleepy N Yorkshire village…garaged, limited annual mileage, and probably old person age helps…outside my comfort zone again on a 17km walk in 28C heat with far too much scrambling for my liking. I’m really trying to not become menu del dia for the local boar family. Reply to this message | Report message

Mon 9 Oct 23 18:22   Obtaining insurance for an EV - CGNorwich

I guess that evenutally we all have to face up to the fact that we aren't getting any younger. Reply to this message | Report message

Mon 9 Oct 23 19:18   Obtaining insurance for an EV - Runfer D'Hills

>> I guess that evenutally we all have to face up to the fact that we aren't getting any younger. Nah, to heck with that! I’ll trade up to potentially keeling over doing something I enjoy for an extra few years watching Countdown anytime! ;-) Reply to this message | Report message

Mon 9 Oct 23 20:16   Obtaining insurance for an EV - CGNorwich

"Nah, to heck with that! " I admire the sentiment but unfortunatley you will find that you can't stop ageing by willpower. Sooner or later you realise that you have to ease up a bit on physical activity whether that's running, cycling or laying a new patio. Nothing wrong with "Countdown" but prefer "the Chase" for pure excitement :-) Anyway off to Nova scotia ,Cape Breton and PEI tomorrow Might even do a bit of walking on the Cabot Trail Reply to this message | Report message

Mon 9 Oct 23 21:54   Obtaining insurance for an EV - Runfer D'Hills

Sounds great CG. Have fun! Reply to this message | Report message

Thu 4 Jan 24 12:52   Nova Scotia etc. - tyrednemotional

>> >> Anyway off to Nova scotia ,Cape Breton and PEI tomorrow Might even do a bit >> of walking on the Cabot Trail >> ...how did that pan out, CGN?. Considering similar for June. Reply to this message | Report message

Tue 10 Oct 23 17:13   Obtaining insurance for an EV - Fursty Ferret

>> Is there a significant loading for your occupation? Possibly considering many people in this role are driving home after being awake for 24 hours straight. Reply to this message | Report message

Mon 9 Oct 23 18:19   Obtaining insurance for an EV - CGNorwich

Whilst there is certainly a premium ofr insuring an EV when compared to an ICE car for most car it's not that great, 20% perhaps. MY ID3 comes in pretty close to a similar Golf. Teslas seem to have attracted these huge increase mainly becuase of: 1.The cost and availability of replacement parts. Insurers also don't like paying our for a hire car for three months while waiting for a new panel 2.The high performance of the vehicles. Many apparently come to grief within a few weeks of ownership when demostrating the Ferrari like acceleration. They really fall into the categroy of high performance cars rather that family cars and are being rated accordingly Reply to this message | Report message

Mon 9 Oct 23 19:49   Obtaining insurance for an EV - legacylad

I understand your points, but the GRY is a specialised piece of kit. Fancy 4WD system, carbon composite roof, floor pan is 50% Yaris ( front) 50% Corolla ( rear). Engine anything but standard..I’d hate to think how long spares would take to obtain as it’s built in a special facility in Japan, not France as other Yaris are. Suppose it’s a combination of age, usage, postcode and where it’s garaged. About the only thing decent about getting old. Reply to this message | Report message

Mon 9 Oct 23 21:53   Obtaining insurance for an EV - CGNorwich

Its still a Toyota with lower repair costs than a Tesla and its slower to 60 than a Tesla 3 Perfomance (3.1 seconds) and I suspect it handles a lot better. I know of two Teslas that have been wrriten off, I rather think by drivers who overstimated their ability to deal with the power. At the end of the day Insurers go by statistics. Reply to this message | Report message

Tue 10 Oct 23 04:41   Obtaining insurance for an EV - Falkirk Bairn

An issue with some Teslas is that the battery pack is actually part of the "chassis" of the car. Very expensive batteries/ fundamental part of the chassis - add to that "would be F1 trainee drivers" write-offs must be a higher possibility. Reply to this message | Report message

Tue 10 Oct 23 19:13   Obtaining insurance for an EV - legacylad

"would be WRC >> trainee drivers" write-offs must be a higher possibility. >> Got that out of my system road rallying an RS2000 several decades ago. Never won anything at motor club level, and learnt my capabilities early. Probably just as well given the potential performance of cars in this day and age Reply to this message | Report message

Tue 10 Oct 23 20:53   Obtaining insurance for an EV - Rudedog

Found a lovely piece of nearby driving road over the weekend when I had to take my wife to a works-do at Brands Hatch - rather than go around the motorway I went along the A road that sort of follows it - great drive late at night on a NSL with the bonus of it just having been relaid with a super smooth surface - makes me we want to drive it again just for fun. Reply to this message | Report message

Tue 10 Oct 23 22:32   Obtaining insurance for an EV - bathtub tom

There's a lovely bit of road on the A488 between Minsterley and Lydham that I used to drive occasionaly (too fast). You come across a tightening bend and as you think the tyres can't give any more, you see the sign HOPE and that's about all you have left! Reply to this message | Report message

Tue 10 Oct 23 23:32   Obtaining insurance for an EV - smokie

If the current speculation on the internet is right that an EV was at the root of the Luton Airport fire that won't help insurance costs!! www.bbc.com/news/uk-england-beds-bucks-herts-67073446 Reply to this message | Report message

Wed 11 Oct 23 07:22   Obtaining insurance for an EV - Bobby

Seen speculation saying it was a petrol Range Rover also. The two opposite ends of the spectrum!! Info wars at play :) Reply to this message | Report message

Wed 11 Oct 23 09:31   Obtaining insurance for an EV - Lygonos

Whatever started the fire you can be pretty sure the rapid spread across the whole deck was hydrocarbon related. Reply to this message | Report message

Wed 11 Oct 23 09:52   Obtaining insurance for an EV - tyrednemotional

....and any inability to extinguish it was Lithium related... ;-) Reply to this message | Report message

Wed 11 Oct 23 10:00   Obtaining insurance for an EV - smokie

Some videos from inside the car park are surfacing and show some fairly violent explosions. Maybe petrol tanks exploding? drive.google.com/file/d/1G4FxeOGEi8Or7DcqOjOtm8jmCCU7wwKm/view?usp=drive_link drive.google.com/file/d/1DduLXuLDJcDYkKLNj0yTyFGcJ9uglHNC/view?usp=drive_link Last edited by: smokie on Wed 11 Oct 23 at 10:14 Reply to this message | Report message

Wed 11 Oct 23 12:00   Obtaining insurance for an EV - Biggles

Since the fire was over in less than 12 hours, it looks like they could extinguish it. Reply to this message | Report message

Wed 11 Oct 23 10:47   Obtaining insurance for an EV - CGNorwich

“Andy Hopkinson, Bedfordshire's chief fire officer, said the service had "no intelligence than to suggest it was anything other than an accidental fire". He said it was thought the fire started with a diesel car, and then spread through the car park. Reply to this message | Report message

Wed 11 Oct 23 12:10   Obtaining insurance for an EV - smokie

Well if that's right all the anti EV mob on the DM and elsewhere will have a fairly large portion of egg on their face. I didn't realise those links I put up earlier weren't generally available. I've changed the settings so they ought now to be visible. Reply to this message | Report message

Wed 11 Oct 23 12:56   Obtaining insurance for an EV - sooty123

Allegedly of luton Airport car park twitter.com/Lisamfb/status/1712014835657982365 Reply to this message | Report message

Wed 11 Oct 23 13:07   Obtaining insurance for an EV - smokie

I wondered why she was filming that when I posted it earlier :-) Reply to this message | Report message

Wed 11 Oct 23 13:11   Obtaining insurance for an EV - sooty123

The links didn't work for me. Just a blank video. Last edited by: sooty123 on Wed 11 Oct 23 at 13:12 Reply to this message | Report message

Wed 11 Oct 23 13:09   Obtaining insurance for an EV - Lygonos

That'll be the 'significant structural collapse' due to the fire on the floor above, I guess. Reply to this message | Report message

Wed 11 Oct 23 13:17   Obtaining insurance for an EV - VxFan

Or are they just filming the latest Fast & Furious movie? Reply to this message | Report message

Wed 11 Oct 23 13:23   Obtaining insurance for an EV - Lygonos

Fire Chief appears to have confirmed was a diesel car. Reply to this message | Report message

Wed 11 Oct 23 14:34   Obtaining insurance for an EV - smokie

... yet on the Mail comments they are still frothing about EVs Last edited by: smokie on Wed 11 Oct 23 at 14:35 Reply to this message | Report message

Wed 11 Oct 23 15:45   Obtaining insurance for an EV - Bobby

What else do you expect from the mail… Reply to this message | Report message

Wed 11 Oct 23 16:19   Obtaining insurance for an EV - bathtub tom

With an estimated 1200 cars in that Luton airport car park, I don't know how many were destroyed, it gives the insurance companies a good excuse to hike premiums. Mine was renewed yesterday! Reply to this message | Report message

Wed 11 Oct 23 21:31   Obtaining insurance for an EV - Rudedog

Lets hope drivers don't somehow get charged for parking! Reply to this message | Report message