Everythings gone up, but most things not by this much. There’s also legislation to even the playing field, so why/how are they getting away with much higher renewals?
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I’ve never found it a ‘faff’ especially when you can create an account on the price comparison sites, store your info and only need to change the pertinent information.
I’ve been doing it for decades, as the amount the insurance companies charge you for your loyalty is ridiculous.
My policies for my cars went down last year. Have your insurer maybe seen your videos and classified you as a "personality" or "presenter"? That bumps up your premium (used to work in car rental and the team would need special approval from the insurers before we could accept anyone like that)
Always, always shop around.
We saved £300 on a 10 year old 2.0 diesel car between renewing and just using the internet. Effectively halfed the premium.
Just need an EV now👍
Very good. As a Model 3 owner I did not know that the insurance companies have side stepped this legislation.
My Tesla insurance went up quite a bit. Probably all the people sleeping with auto-pilot on – although I don't have it.
My Model S90D insurance with LV has gone up from £680 to £860. no accidents max no claims. This will be my third year with LV. The second year increase was quite low but the third year is a massive increase. I have seen this before with direct line. I will get back on line for a better deal.
I have a TM-3 LR and I was quoted a 67% rise, and I got this down to 37% after "discussion" but I cannot get a better quote online while looking around.
I wonder if the original insurance was cheap for such a powerful car as early adopters tend to be boring drivers, and my original insurance was not much more than a 2L diesel passat (and old one too). Now that Tesla is more main stream it is driven more "carelessly", as noted in some disreputable papers, the Tesla drivesr are now the worst driver meaning that in general it is considered a high risk insurance item.
Hi thank you for doing this video I'm a 61 year old man and struggling with my insurance I've never claimed of my insurance tuch wood do you now of a Inshorens broker that cers about people all I wont is to drive when I need to please can eneyone help
Speaking of scams, have you come across the GeniePoint scam? Price displayed on their chargers is nearly half the price they actually charge. Guess what, try and contact them and they don't answer!
Will never use them again!
The car insurance went up a bit, but the renewal price was still cheaper than the new customer price. Unlike the house insurance which went up by a huge percentage!
Reminds me of the pointless legislation introduced to stop girls getting cheaper than boys.
Admiral renewal quote for an id.4 was £617. The usual comparison website quotes me £362 for a like for like policy. I called up admiral and the got to within £95, they gave me an £84 loyalty discount and another £12 on top when I still said no.
As I'm old there was a time when if you changed your car and bought a smaller one with a lower ins grouping and you still had some time on your existing policy you used to get a rebate.
That also seems to have disappeared??
My house insurance went up this time around but in contrast as a new customer with them it came out as more.
I have model S my newest comparison quote has increased by over £200 still searching
I've never paid more than £180 fully comp on any car I've had in the last 20 years. That includes the ioniq 38kwh ive not long bought.
As he said always shop around..and that equally applies to house,pet,mobile,broadband etc. As Iam finding from my annual exercise the quotes for car insurance are varying by anything up to £250 with very little ,if any, difference in the cover provided. A couple of things I have seen this time round. First making Windscreen cover an option ! And second asking if you have had an accident in the last 5 years where commonly it was 3 years. Iam afraid you have to look at the details closely but it pays to do so.
Stop using damn credit hire when you have an accident. This why premiums are going up. Average cost of credit hire adds £10000 to a claim. Sometimes, it adds £50000!!!! The books have to balance somehow, wake up.
This is exactly what happened last year to me with LV=
They wrote to me with the following: "The change means we need to make sure your price is the same or cheaper than if you were a new customer with us. And that’s exactly what we’ll do when we calculate your upcoming renewal."
A week later, my renewal was due. My insurance went from £371.48/year to £449.65/year.
So I went on the price comparison websites. The cheapest quote I could get from a "Brand" insurance company was £235.65. From LV= !
When questioned about this they said it was because my policy had lots of add-ons that the "new" quote didn't. I asked for a breakdown – at least two of the add-ons I had never asked for; it turned out they had been included free when I first insured, but were now chargeable. Even so, there was still £80 difference that couldn't be explained. This is when they trotted out the "different package" excuse.
So I asked them to cancel my existing policy, and if they wanted to keep me as a customer, set me up on the "new" package. I then asked them to quote for the couple of add-ons I did want.
The revised renewal quote was £303.85/year; A saving of £67 over the previous year, and £145 cheaper than the original renewal quote.
Completely shot themselves in the foot, as if they had held the previous years price (or even increased it sensibly), they would have been 70 quid better off!
Any idea why Tesla Insurance so much more than other BEV ? It was double the cost for the Volvo I ended up buying
Also another note on car insurance. Always make sure your car is repaired by a decent repairer. I used Direct Line and would not use them ever again. My car took 5 attempts to repair properly (especially the paint matching) by their "approved repairer" who actually caused more body work damage while repairing it. Just over a year after the front end was rebuild ( luckily I had GAP Insurance, ALWAYS ALWAYS have GAP insurance on a new car as if you have an accident the value of the car will be worth a lot less than you owe or the resale value) I found the steering rack had damage on the side where the other driver hit me in the original accident. New rack was the last straw and very expensive so I got rid of the car. Looking up the reg it passed an MOT in Jan 2022 but expired Jan 2023 so must have been fixed.
Over 30 years of driving I always get 3 quotes every year even when you had to call the insurance companies. Make sure the lowest quote covers all the things you require such as protected No Claims and windscreen cover etc. (this is important as some cheap quotes add these as EXTRA optional costs) I then tell my existing insurance company I am leaving them with the existing insurance company normally trying to offer to match my lowest quote (NEVER TELL THEM THE THIS) . I ask them for their lowest quote but normally leave even if they are a similar cost. I play the same game each year with the breakdown cover as I need certain cover (keys etc.) not included with the FREE one you get each time your car is serviced by a main dealer. Last year I swapped my car and transferred the insurance. I went from a 2017 Audi S3 (all S3 5 years old experience ISSUES be warned) to a New Cupra Born (so stupidly quick car to average warmish electric hatch back) and the cost was about the same. I renewed end of last year for £10 less and with the same insurance company. Every year spend 20 minutes online getting quotes for house, car and travel insurance as it might save you hundreds of pounds.
"Are We Getting Screwed By Car Insurance Companies?"
The answer is yes. In fact, as an Australian it's obvious that the insurance companies are just one on a long line of organisations queuing up to screw the British.
Yet half the country will queue up to bow and scrape to the people doing the screwing.
On the EV specialist policies you mentioned, they just tend to include things like home charger cover and 0% battery recovery.
We need a flat rate insurance system with banding.
And whilst I am in the mood let’s talk about NCD Protection. I think you are better off without it. Say your policy costs you £100 with NCD protection and you make a claim, your premium still increases by the same level as if you lost some NCD so it goes up to £140 plus 10% general increase to £154 so with 50% NCD it has a base price of 2 x £154 = £308. Now you take the same situation without protection and you drop to 30% NCD = £140 plus 10% general increase = £154, Same amount, but with only 30% NCD so the base price is £256 so if you don’t claim for 2 years you are back to 50%NCD but at a lower price
Another insurance scam but the biggest crime is that the authorities allow it👹👹👹
So many ill informed comments from people. Happy to add some actual facts if you do a follow up.
My insurance renews this month and had only gone up £42 (up 13% to £354).
One quick search later and I had a better policy for £4 less than last year (down 1% to £308)
Both policies are Defaqto 5 Star, but the new one simply covers more options for the same price.
When I phoned up to cancel my policy from the renewal date, the old insurer offered me a price drop to match the new quote, I decided not to take it as their original quote was obviously a price gouging idiot tax and I don't like being taken for an idiot.
So the TLDR is always shop around.
I’m dealing with the other end of insurance now having to make a claim. The service I’m getting from the insurance claim service is appalling.
Mid December I had an banned driver in a stolen car pull in front of me. A nasty collision and my Leaf is very squashed. 6 weeks ago as I write this. Cutting a very long story short but it seems that 6 weeks on nobody has even looked at my car. This wouldn’t be so bad if it hadn’t happened the day before I picked up my Model 3 so I’m currently paying for 2 cars.
Rather than searching out the cheapest I’d like to buy a policy based on the quality of the service when it’s needed. My car is my driving school car and personal transport so the policy is a specialist policy. This appalling claims service is costing me hundreds of pounds so I’d rather pay more if we could somehow judge the quality of the product as well as the price.
For what it's worth, our big-yellow-finance-mega-corporation were actually a whopping £10 cheaper on our renewal quote this month than re-quoting with the available equivalent "product".
So they're certainly not all doing it, but I don't doubt that many are playing a game of chess moving deals around and adjust
We don't shop around though, the staff discount is far more than any competitor could ever offer.
Try servicing your ev , it’s a scam to get more profit for doing less or pointless checks
But doesn't this affect your "no claims bonus" ?
In November 2022 I changed my 11-year-old high-mileage Land Rover Freelander (worth very little) for a brand new Tesla Model Y. This was just one month after the insurance had renewed with the same company. I expected my insurance to go up, if only due to the price-difference in the vehicles(!), but was pleasantly surprised at how little the increase was – it went from £335 to £475pa, which as a percentage is quite big, but given the value difference of the vehicles, I was expecting much more. I tried the "apply as if a new customer" route, and the same insurance company wanted £760! So just amending my just-renewed existing policy worked for me. When my renewal comes through this coming autumn however, yes I'll be checking and comparing across many companies to find my best deal.
Gouging not complicated.
Great! Thanks for the heads up, shop around it is 🙂
There are scaremongering rumours that you can’t get insurance for a Tesla if you are aged 65 or over. Does anyone have experience of this?
Tesla Model S driver, mine has gone up 30%. I did shop around, but it's still a competitive price compared to other insurers.
Good video as always, thanks EVM.
Did a test quote for my Model 3 performance. Last year £526, this year £1163. Nothing changed. Seen similar stories on Tesla forums and facebook groups.
I renewed a couple of months ago my previous insurer sent me a renewal which was £5 or so more than last year so I had a look and got the cheapest policy with Aviva I've ever had on this car, when I called the old insurer Esure to cancel the auto renew they asked if I could give them a chance to beat my quote, I said no you should have done that originally lol
My insurance doubled when I moved from Audi A5 convertible to the iPace, then increased a further 10% on renewal. Had to shop around again!
Hi yeh I think you are dead right I recently purchased a MG5 Trophy model the latest facelift version And had problems getting insurance on it ok tart up job of my previous car which was also an MG5 exclusive model the same car apart from a new front end and some changes to the interior and wheels now 17 from 16 inch same drive Chain my exclusive I had owned about 20 months and the insurance on that coat £340 last August at renewal this newer Trophy model for the same insurance ranged from around £650 to over £900 unavailable on any most of the comparison sites at the time but is now final on most in the end I paid around £450 after increasing my excess buy £200 more and dropping my no claims protection the only way I could get it down.so yes I think we are being screwed.
Les
M3 LR AWD + one other car, renewal price went up by 40% to a little under a grand. I've been with this lot for years and every year I have to call up, challenge it. Brought it down by about £90 but still 25% increase on last year. They said it's an industry wide increase in costs for things like repairs. I hope the new legislation means I don't have to call up every year just to do this stupid dance back and forth.
In Australia you save a lot of money if you change insurance companies every year
I do sneekygirl's insurence every time, they take her as a little poor girlie, dad gets on phone and all of a sudden it goes down by a lot of cash!!
As always – Yes.
Get your comparison quotes as close to 21 days before renewal date for lowest quotes.
DirectLine REFUSED to auto-quote me renewal for non-Tesla-EV, in November. there was no reason given.
(haven't claimed anything for about decade. nothing changed on my side.)
I remember the days of thumbing through yellow pages phone insurance company after insurance company. Always shop around.
Tesla M3 standard range. £372.41 to £280.60, a reduction of £91.81 with current provider (Churchill). Came as normal renewal on 03/12/2022. Did not have to do anything! Nothing changed on policy. Both my wife and I on policy, business use for me. First time ever that I got such a reduction with current provider. Needless to say I renewed with them. Originally their first year price of £372.41 beat many others by a good margin. BTW I’m based in Northern Ireland.
When I moved house in may 21, my contents was £48 for the year, at renewal they quoted me £89, so I shopped around and got pretty much the same for £52, it is disgusting that they fool people, and people are sometimes not savvy or Yorkshire enough to care!
Premiums are one thing; what you get on a claim is another; and it's hard to correlate the two. The way cars are built now, especially EVs, makes it more likely the car will be written off but you will get nothing like the value you put on the insurance.