EV insurance

[Adrian W]

Our Ipace is due, last year it was £700 through LV, who were the lowest, this year they want £1225 take it or leave it, we have shopped around and it now seems cheap, Aplan quoted £2500 and said most of their panel refused to quote, Aviva refused , nothing has changed since last year.

Is it a case of the insurance companies learning how much they cost to fix?

From the knowledge base here does anyone know of an insurance company who are interested in insuring electric cars?

[cowbit]

I have just renewed mine. Last year was £499 with Marks & Spencer who this year wanted £2100 because the underwriters who did mine last year no longer work with them. On checking the comparison websites the cheapest quote was always from Darwin. I renewed with them at £770.

[Nomme de Plum]

I've a BMW i3S Can't remember exactly how much but circa £350 ish. 5K max non business use.

[Adrian W]

cowbit said:

I have just renewed mine. Last year was £499 with Marks & Spencer who this year wanted £2100 because the underwriters who did mine last year no longer work with them. On checking the comparison websites the cheapest quote was always from Darwin. I renewed with them at £770.

Thanks I’ll try them

Darwin no bid it, so it appears they don’t like ipace’s any more, maybe they have enough on their books now

Edited by Adrian W on Monday 11th September 18:20

[paradigital]

Direct Line for the 2nd year on the trot with my M3P. Just shy of £500.

[sjg]

Insurance is up across the board. Higher labour, energy and material costs, frequent delays in getting parts so people have to be kept in courtesy/hire cars for longer.

Ipace has the extra bonus of being a JLR keyless car that seems trivially easy to steal if you have the right tool.

[bad company]

I just got a quote of £793 for a new iPace from my current insurer Aviva.

Edited by bad company on Monday 11th September 20:48

[agent006]

Our Leaf renewal has gone from £330 last year to £530. Just about to piss away my evening finding something better.

[Adrian W]

bad company said:

I just got a quote of £793 for a new iPace from my current insurer Aviva.

Edited by bad company on Monday 11th September 20:48

That is interesting considering they no bid it today, our Ipace is four years old

[agent006]

LV also refused to cover our 24kwh Leaf, so it's not just the expensive stuff that they're not interested in.
Ended up going with Darwin in the end for £100 less than our DirectLine renewal, which seems perverse as they're both brands of UKI.

Cornmarket got close but I got cold feet insuring with a broker from Gibraltar that I'd never heard of with a similarly obscure underwriter.

[Mikebentley]

I think it’s a general trend. My Defender was £380 last year and the renewal is £608 with Direct Line. I got the hump and looked around and the best I could get was £1300 elsewhere.

[-crookedtail-]

I've been looking at a few quotes recently to see whether it's worth getting a car, as I've been renting one most weekends. I live in London and expected to get done over a barrel.

E17 postcode, parked in a car park away from home

Tesla M3P £1200 (was better than I was expecting based on other PHers)

Polestar 2 LR SM £830

Porsche Taycan (for giggles ) £2300

[Tractor Driver]

Read something the other day along the lines of motor insurers paying out around £1.20 for every £1.00 they took in last year and seeing as it’s not the charity sector, we’re all going to be paying more.

Plus, the FCA ‘fair pricing’ initiative, that prevents an insurer charging more to an existing customer than a new one appears to have made things more expensive for all…

[Dingu]

Tractor Driver said:

Plus, the FCA ‘fair pricing’ initiative, that prevents an insurer charging more to an existing customer than a new one appears to have made things more expensive for all…

On average it likely hasn’t made too much difference, however for anyone savvy (99% of Pistonheads I expect) who always shopped around that was always going to be the result unfortunately.

[Mikebentley]

I found the whole conversation with Direct Line different to previous years. Need with them maybe 20 years as they always match price to keep us. They would always do the “give me a minute” routine and knock maybe 15/20% off. This time it was a hard “ the price is the price”.

[bad company]

Adrian W said:

bad company said:

I just got a quote of £793 for a new iPace from my current insurer Aviva.

Edited by bad company on Monday 11th September 20:48

That is interesting considering they no bid it today, our Ipace is four years old

I used the app & input a change of vehicle.

[Monkeylegend]

I suppose the thing is if you can't afford the insurance you can't afford the car.

[mikeyr]

One benefit of the salary sacrifice thingy is that insurance is included but I just looked up VW ID3 insurance (based on 12k per annum, SDPC and business) and the cheapest is £420 a year although most seem to be around the £500 mark.

The little C Zero costs me £200 for the year but that's only for 4k mileage.

A quote on a random iPace (12kpa) came back mainly about £1000 a year...

[bad company]

Monkeylegend said:

I suppose the thing is if you can't afford the insurance you can't afford the car.

Purchase cost & insurance seem to be more for ev’s. There’s obvious savings on fuel & maintenance costs so is that enough of an offset? Depends how many miles you drive I reckon.

[tamore]

it's no surprise given the hourly rates by 'approved' repair centres or worse still main stealers.