Rocketing Insurance for Electric Cars

[IBZman]

Has anyone seen their insurance renewal costs rocket?

I renewed in August and whilst it did go up, nothing like these people have seen.

The quotes were £5,000 or more’: electric vehicle owners face soaring insurance costs

Sponsored

 

[Hanny]

I looked out of interest and was shocked at the costs, fortunately I am insured as part of a Salary Sacrifice scheme and pay £48 per month, with business cover and my wife.

 

[IBZman]

I looked out of interest and was shocked at the costs, fortunately I am insured as part of a Salary Sacrifice scheme and pay £48 per month, with business cover and my wife.

What sort of costs did you see?

 

[Hanny]

Between £3k (questionable cover compromises or firms not really well known) to £5k (more mainstream known companies and aligned with the usual cover and supplements)

 

[Hanny]

….oh and a few from assumed distance relatives of Dick Turpin at £8k plus

 

[Murph7355]

I was a little surprised at my quote (£1.1k) but seems it might not be that out of line...though I'm creeping up in age - 53 - and have 3 current points and 3 that dropped off this year but still have to be declared...I do have 11yrs NCD.

 

[IBZman]

I was a little surprised at my quote (£1.1k) but seems it might not be that out of line...though I'm creeping up in age - 53 - and have 3 current points and 3 that dropped off this year but still have to be declared...I do have 11yrs NCD.

Grab it (if you haven’t already)!

 

[Hanny]

I was a little surprised at my quote (£1.1k) but seems it might not be that out of line...though I'm creeping up in age - 53 - and have 3 current points and 3 that dropped off this year but still have to be declared...I do have 11yrs NCD.

wow that’s a great deal if it has low excess and business cover, 12,000 miles per annum!

 

[IBZman]

Between £3k (questionable cover compromises or firms not really well known) to £5k (more mainstream known companies and aligned with the usual cover and supplements)

Wow!

I can see a lot of electric vehicles being dumped onto the market should this continue.

 

[bn8959]

I was quoted £1k. Need car to arrive so I can bank that offer! 43years, 6k miles/year.

 

[Hanny]

? what on earth are you putting down for details, suppose a lot to do with postcode but hell I couldn’t get anywhere near that with £200 excess, 12,000 per year and business cover/commuting etc.

But good to know some at least some are escaping the insurance rip-off

 

[Fish Fingers]

I got my Taycan and wife's X2M both covered with business use and protected no claim etc for about £1200pa in Aug.

So many variables with car insurance though.

Insurance costs are going up across the board - not just EVs.

Parts / labour / repairs have all been subject to major upswing in costs.

 

[Murph7355]

wow that’s a great deal if it has low excess and business cover, 12,000 miles per annum!

None of those things I'm afraid.

10k miles, not for business use other than commuting and, wait for it, 1k excess. (Other cars are £500).

Am hoping I can get it on a fleet policy next year, as I've been using for years , but that for the Taycan wasn't possible this year.

 

[rb33gl]

Has anyone seen their insurance renewal costs rocket?

I renewed in August and whilst it did go up, nothing like these people have seen.

The quotes were £5,000 or more’: electric vehicle owners face soaring insurance costs

My 3rd year renewal went up from £560 (Churchill) to £730 (Aviva). Up 30% in one year. Full NCD, clean licence, low cost area. 6,000 miles pa.

Given Porsche's exorbitant costs for repairs and parts, I wonder how long it will take for Taycans to become uninsurable for a fair cost. Will Porsche be forced to offer its own insurance then?

 

[Murph7355]

...Will Porsche be forced to offer its own insurance then?

I think they already do? (Well, not "own" as in "underwrite"...).

Sponsored