EV insurance - experiences?

[Sheepshanks]

I'd heard the stories about Tesla insurance but was a bit shocked to find that for any "ordinary" EV I'm getting quotes which start at double my current premium and go rapidly upwards from there.

I know a few people who signed up for EVs (new and used) and never checked insurance and then got a massive shock. amongst our friends they're certainly all aware now that EVs are "expensive" to insure. *It's rattled people that a widely used insurer for middle-aged people, LV=. won't cover them at all.

I'm particularly wondering how people have got on at renewal if they've switched to an EV mid-policy - looking at the e:Ny1 threads some people seem to have switched for remarkably little uplift. I'm wondering if it's a trap?

• ETA: Correction to above: Seems LV= will insure most EVs. Bit of Googling suggests there's been some coming and going at LV on EVs and Hybrids over the last few years, but I tried a few EVs (inc a Model 3) and the only one if rejected was the Honda eNy:1. For me, the quotes I ran came back around £700 mark (as a comparison, our ICE Skoda Karoq is £320). iPace stood out - that was over £2K.

Edited by Sheepshanks on Monday 25th March 16:14

[Sheepshanks]

OK, you both focussed on Tesla's vs BMW M cars - neither are "ordinary".

I've been looking at cars like Honda e:Ny1, Kia Niro E, Peugeot e-2008.

[Sheepshanks]

karma mechanic said:

Current car Ioniq 5 AWD £428 with LV= cover as above.

That's interesting - as I've seen in several places that LV= won't insure EVs, so I wasn't surprised when they no bid the e:Ny1 (which I was thinking of due to the cheap PCP deal).

Tried a few and they quoted them all - around the £6-700 area with my details (which are extremely benign). So still 2x, but could be worse. It still baulks at the the e:Ny1.

[Sheepshanks]

573 said:

LOL

Point out where anyone said a Tesla is a sports car.

It's totally irrelant, but I'd wager I've owned more M3s than you if that helps your skewed opinion of what this discussion was about. Our Tesla is the wife's shopping car I can and have compared it to an M3 as the performance to a point is broadly similar and for the purposes of this discussion, the insurance premiums are similar too.

Tesla should be much cheaper to insure. It's only the same price because they're so difficult / expensive to repair.

[Sheepshanks]

Pica-Pica said:

soupdragon1 said:

I'm due for renewal in a couple of weeks.

2023 ID3, Family, Pro performance (upgraded motor)

Last year with LV was £400, new offer is £600. Can find a quote for £430 although haven't tried to ring LV as I would like to stay with them, but not at £600. If they can price match the £430, great but was slightly worried that the 50% YOY increase was going to be every insurer. Thankfully not.

Our Range Rover Sport on the otherhand, worth the same £value as the ID3 but £1k was the cheapest. Yikes.

I think phoning LV= and negotiating down may sound a good idea, but I believe the more that people just switch the better. Their game is that you pay up, or that you negotiate down to what THEY give you; that is their strategy. Just leave.

LV make a point of not reducing the price when you phone. There's a recorded message that says if you're hoping for a better price then don't bother.

Last month, their renewal on wife's insurance was +68%. I wanted to make a small admin change so phoned them up and as soon as I moaned about the price they reduced it slightly. Then transferred to someone to make a small admin change and they reduced it some more. I tried comparison sites and anyone you've heard of was way dearer.