Insurance.

[Steve92110]

After almost 1 year of ownership my insurance is up for renewal in the UK.
I have 12 years NCD, same address, no claims or incident, no change to details ….yet my renewal policy is now double what I paid last year….Any thoughts as to why & is the EV being penalised for some reason. ?
Thanks

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[Tom L]

After almost 1 year of ownership my insurance is up for renewal in the UK.
I have 12 years NCD, same address, no claims or incident, no change to details ….yet my renewal policy is now double what I paid last year….Any thoughts as to why & is the EV being penalised for some reason. ?
Thanks

1. The car is much more expensive and costly to repair than your previous model.
2. Your insurance provider believes #1, whether true or not.
3. Your insurance provider thinks your car is a Mercedes or made some other mistake.

 

[Wonky_Donkey]

After almost 1 year of ownership my insurance is up for renewal in the UK.
I have 12 years NCD, same address, no claims or incident, no change to details ….yet my renewal policy is now double what I paid last year….Any thoughts as to why & is the EV being penalised for some reason. ?
Thanks

My Mach-E (RWD ER) also just came up for renewal in May, and like you I found that the insurance prices had generally gone a bit mad compared to last year despite there being no change in my circumstances.

I know everyone is different with no claims discounts / where you live / voluntary excess amounts etc but last year I paid £290 - but the cheapest renewal I could find this year was double that and it was from some company I’d never heard of. For me the average price from a reputable insurer like Tesco Bank or Churchill was over £650 on gocompare

In the end I went direct to AVIVA and they sorted me out for £340 - so maybe give them a look to see if they’ll play nice with you too.

 

[Steve92110]

My Mach-E (RWD ER) also just came up for renewal in May, and like you I found that the insurance prices had generally gone a bit mad compared to last year despite there being no change in my circumstances.

I know everyone is different with no claims discounts / where you live / voluntary excess amounts etc but last year I paid £290 - but the cheapest renewal I could find this year was double that and it was from some company I’d never heard of. For me the average price from a reputable insurer like Tesco Bank or Churchill was over £650 on gocompare

In the end I went direct to AVIVA and they sorted me out for £340 - so maybe give them a look to see if they’ll play nice with you too.

hi
thanks for the info.
unfortunately I’m already with Aviva & it’s also just under double what I paid last year. ?

 

[Teslaeata]

A few months before my insurance came up for renewal when I couldn’t buy the insurance so far in advance I could get quotes for around £600 to £800 shopping around.

When it came to take up insurers’ quotes who had previously provided such cheap quotes, surprise surprise, they’d gone sky high when I could buy. Some were £2k up to £4.5k.

Eventually went auto renew with existing cover by the Admiral for around £1,150 with which I’m as happy as I can be.

For context, despite umpteen years’ NCD, clean car, HGV1, full bus and advanced driving licences my insurance is more expensive than the average due to SDP & business use with 30k annual mileage.

I do happen to think there’s something in it that EV owners are unreasonably penalised, not only for insurance but on acquisition costs and in almost every other respect including being charged over 4 times their home electricity rates when charging out on the road.

The biggest bugbear is that my motor trade insurer who provide cover for moving cars I examine will not even cover an EV as a vehicle used in the business where they otherwise would just add an ICE vehicle on cover at no extra cost than the road risks cover already included.

What chance do we all have??‍

The incentive to go, and then stay with EV, generally and also judging by comments made my others relating to RVs some with negative equity, just is not there especially at the budget end of the market and that’s where big in-roads need to be made.

Fortunately I am able to treat my cars almost as disposable, once I’ve done with them mainly due to their mileage they’re not worth very much and I’ve had my use out of them though they’re still good usable and very well maintained cars and I sometimes just literally give ‘em away.

May find it hard to give up this ‘Stang, though!

 

[Frebster]

1. The car is much more expensive and costly to repair than your previous model.
2. Your insurance provider believes #1, whether true or not.
3. Your insurance provider thinks your car is a Mercedes or made some other mistake.

When I first purchased, April 2022 and saw my adjusted Insurance bill on my 2022 MME. I was also shocked. Then I spoke to the Insurance Company's representative I found out they rated my MME as a Mustang V-8. I then explained it was not that car and they corrected the premium similar to my previous Mercedes.

 

[Fremont Kid]

A few months before my insurance came up for renewal when I couldn’t buy the insurance so far in advance I could get quotes for around £600 to £800 shopping around.

When it came to take up insurers’ quotes who had previously provided such cheap quotes, surprise surprise, they’d gone sky high when I could buy. Some were £2k up to £4.5k.

Eventually went auto renew with existing cover by the Admiral for around £1,150 with which I’m as happy as I can be.

For context, despite umpteen years’ NCD, clean car, HGV1, full bus and advanced driving licences my insurance is more expensive than the average due to SDP & business use with 30k annual mileage.

I do happen to think there’s something in it that EV owners are unreasonably penalised, not only for insurance but on acquisition costs and in almost every other respect including being charged over 4 times their home electricity rates when charging out on the road.

The biggest bugbear is that my motor trade insurer who provide cover for moving cars I examine will not even cover an EV as a vehicle used in the business where they otherwise would just add an ICE vehicle on cover at no extra cost than the road risks cover already included.

What chance do we all have??‍

The incentive to go, and then stay with EV, generally and also judging by comments made my others relating to RVs some with negative equity, just is not there especially at the budget end of the market and that’s where big in-roads need to be made.

Fortunately I am able to treat my cars almost as disposable, once I’ve done with them mainly due to their mileage they’re not worth very much and I’ve had my use out of them though they’re still good usable and very well maintained cars and I sometimes just literally give ‘em away.

May find it hard to give up this ‘Stang, though!

EVs have ongoing value as home electrical backup devices, so you may want to consider retaining the battery as a power outage backup device, rather than dispose of it.

 

[Teslaeata]

EVs have ongoing value as home electrical backup devices, so you may want to consider retaining the battery as a power outage backup device, rather than dispose of it.

All good in theory but if I give away car, not sure one of my sons has a use for a builder’s skip which effectively is an EV without a battery that is bolted to side of my house ??

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