It must be true then.  Or a bit true, or true for some.

Discuss,

maybe here please and not in every other thread about EV,s.

As I mentioned in the other thread. My insurance for 2 EV's increased by about 30%. A non-fault accident on the Leaf as someone bumped into it while parked, admitted fault and their insurance gave me £1000 to go away. I had front bumper repaired for £400, and added new license plates with green flash. It was 30% increase even with this additional non-fault claim.

 

That was 2nd cheapest last year with multi-car discount to two different cheapest policies. Of course, Admiral renewal were 100% more, but no one blindly renews without looking around...... do they?

Everyone's car insurance is soaring to cover the increased costs of EV's, yet another unfair EV subsidy.

15 minutes ago, wyx087 said:

As I mentioned in the other thread. My insurance for 2 EV's increased by about 30%. A non-fault accident on the Leaf as someone bumped into it while parked, admitted fault and their insurance gave me £1000 to go away. I had front bumper repaired for £400, and added new license plates with green flash. It was 30% increase even with this additional non-fault claim.

 

That was 2nd cheapest last year with multi-car discount to two different cheapest policies. Of course, Admiral renewal were 100% more, but no one blindly renews without looking around...... do they?

I read that as your insurance went up 100% so you looked elsewhere and the cheapest you could find was 30% more than your premium for the previous year, is that correct?

 

If so the really are getting quite brazen now aren't they!

14 minutes ago, Crasher said:

Everyone's car insurance is soaring to cover the increased costs of EV's, yet another unfair EV subsidy.

You sure it isn't due to increased energy cost, labour cost, parts supply shortage and opportunistic industry-wide rip off? 

 

1 minute ago, J.R. said:

I read that as your insurance went up 100% so you looked elsewhere and the cheapest you could find was 30% more than your premium for the previous year, is that correct?

 

If so the really are getting quite brazen now aren't they!

That is correct. But I don't consider the same insurer increase the increase because why would anyone blindly renew? 

 

It had been like this for years, I can always find a better deal by switching, So I switch insurance every year. Some years the amount I pay goes down, some years it goes up. 

1 hour ago, wyx087 said:

You sure it isn't due to increased energy cost, labour cost, parts supply shortage and opportunistic industry-wide rip off? 

 

My motor trade insurance broker of 40 years, dropped his A4 in this morning (usual rear wiper motor failure) and I asked him. He said yes partly because modern cars are so complex but also because an EV, if it gets hit, is written off by the insurer for far less damage due to the complexity of moving a damaged EV around, insurers are naturally risk averse. I should imagine Luton Airport will concentrate their minds. He also said that instead of getting a new A4 every three years as he has done since 95, he is sticking with his 2 Litre petrol I convinced him to buy three years ago to get out of Diesel.

Time will tell if really their claims and pay outs have increased to such an amount that EVERYONE'S insurance has to go up to cover the cost of EV,s.

 

Or if Floods & car damage and a War in Ukraine, and the rise in the cost of living has gone up with wages etc.

If they are making more or less profits, paying more taxes or just some are spending so much on Advertising and promotion and sponsorships and dividends.

 

There will be Watchdogs / Motoring Organisations that are businesses and have breakdown and insurance departments that are a bit over the top with pricing or renewals, or the Government / Parliament who have elected members with investments in Inurance businesses or Peers of the Realm that will have vested interests.

 

Nobody wants the general public to pay for Green Motoring for the few, or to have to pay for pollution and the NHS and other stuff and yet they have no cars, do not use trains, 

do not have very much but need home / contents insurance, pet insurance / health insurance and pay tax on top of policies having paid tax on the money they earned first, 

even taxed on interest they get from savings from the people they save with who are the same people involved with insurance underwritting.

17 hours ago, Crasher said:

Everyone's car insurance is soaring to cover the increased costs of EV's, yet another unfair EV subsidy.

 

Insurance does not work this way.

 

(Unless it is the worry is so great that an EV fire is going to burn lots of non-EVs too I suppose ? )

 

As the Swedish national study shows there of their cars, where EVs already make up about 10% of cars in Sweden (but now 30% in Norway) and stats show EVs are about 20 times less likely to self combust.

 

As EVs move from being powered by Lithium Iron Phosphate batteries rather than Lithium (only), which is LiFePh is becoming the normal battery chemistry fires in EVs is dropping even lower than the 5% of the comparative risk compared to an ICE vehicle.

 

6 hours ago, lol-lol said:

 

Insurance does not work this way.

 

 

If you think that you are very, very naiive.

 

Insurance companies work on the basis of risk and avoiding it but also hedge thier bets and make everyone cover potential payouts of others.

 

That includes EVs

Insurance question coming soon: do you ever park in densely packed multistory car park?

Are the very high cost of repairing Accident Damage not involving the Battery or Motor / motors but still requiring special checks over and above the Electrical Checks that ICE should have but often not the real story.

 

Is it the repair of the TESLA, Porsche, Audi, Mercedes and prestige EV,s bodywork that is the issue rather than the common cheaper ev,s body repairs?

Approved body repairers.

Is it having to put EV drivers into EV Courtesy cars?

 

If the price rises are because the perceived or predicted higher costs coming rather than actual claims and pay outs now, so the risk even though this has not come to pass yet.

 

Or is it really just another 'cunning stunt'.   

Higher value cars parked on drives are often high price insurance claims from slates coming off roofs and such damage.

Now the risk is maybe the property burning down.

That will be the Building & Contents Insurance affected then as the Vehicle insurance, as lots of instances if there are EV fires at a home when parked at it the Polices might be with the same families.

 

 

Edited 12 October, 20232 yr by toot

52 minutes ago, toot said:

Is it having to put EV drivers into EV Courtesy cars?

There's no way I want to drive an ICE car with un-claimable increased running cost if my car was in the shop due to fault of someone else.

?

Has anyone insured or renewed insurance recently on their EV? 

 

I have no idea about the cost of EV insurance as mine comes with the car Leased from Motability.

I can not see me buying an EV and having to insure it but i will be interested to see how things go incase i do. 

If i buy anything in 3 years it will likely be a older MINI Clubman petrol auto.

 

I have 1 ICE car left which has the max NCB used and i have sold my van which had 4 years NCB and i am told that can sit unused for only 2 years. (rubbish i think.)

 

 

 

 

 

 

 

 

 

1 hour ago, Rooted said:

?

Has anyone insured or renewed insurance recently on their EV? 

 

I have no idea about the cost of EV insurance as mine comes with the car Leased from Motability.

I can not see me buying an EV and having to insure it but i will be interested to see how things go incase i do. 

If i buy anything in 3 years it will likely be a older MINI Clubman petrol auto.

 

I have 1 ICE car left which has the max NCB used and i have sold my van which had 4 years NCB and i am told that can sit unused for only 2 years. (rubbish i think.)

 

The fact that (pulls a statistic out of the air but it sounds right) most EVs are leased and not bought and owned, with insurance (and tyres and "servicing") part of the deal, I suspect a lot of very high EV premiums have been quietly hidden from view, and dare I suggest, there may have been a little government "nudge" of the insurers to make sure that prospective EV customers weren't discouraged from buying an EV by huge insurance costs.

When the lease chickens come home to roost, and the EV vehicles start to trickle out onto the second-hand car market, I suspect either there will be a lot of car sellers offering "12 months free insurance" with their EVs, or a lot of startled buyers when they try to insure their sub 5-second 0-60 EV rocket.

I suspect short-range low powered EVs will probably still be fairly cheap to insure. I'm not convinced by the supposed dangers of EVs blowing up/catching fire etc.

I saw the video (I'm a subscriber) but I'm not convinced it is 100% honest data, may be some cherry picking going on.

 

On SpeakEV, I saw someone had a similar location (N london) Model Y insurance rant. Assuring to see the premium was similar to mine. There is no way regular car insurance can be this expensive. Tesla's are expensive to insure, most are highest group cars. So I find it hard to believe they can find more expensive ICE cars.

 

Leased is definitely the way to go at the moment.

Motability have had EV,s on the scheme for 6 years or more and the first 3 years ones and the 2nd lot of 3 year leases went into the Trade and someone owns them, and there are 10,s of thousands ending leases and being auctioned.

 

Same with Demonstrators, fleets, NHS, Utilities and local authority leased EV,s.

Plenty used ones are in peoples hands now. 

 

Repair costs of EV,s might well be higher, but is the accidents and more than ICE vehicles of similar cost / RRP and is the theft risk as high.

 

Insurance is a fiddle not a fuddle anyway and there will be plenty actually doing the numbers and seeing who are 'at it'. 

 

As for Cities or Capital Cities & the 4 countries of the UK then some prices that people see for them will be WTF to those that pay no place near the Average Prices being mentioned, 

even the lowest prices used to make up averages.

When you have a lease vehicle is it actually fully comp insured in the same manner that you would a private vehicle you insured yourself?

 

The liability to 3rd parties be they other vehicles, their drivers, passengers, your passengers etc would be the same but if you dent a wing or even write your vehicle off and its your fault does the lease company claim on insurance or are the larger ones like Motability self insuring? Financially with a big fleet like that it makes sense.

 

My vehicle I bought from a salvage broker, it was written off and he told me there was no insurance claim and the V5 would not be marked as a Category S, it didn't bother me as those markers happily dissapear when you reregister a UK vehicle in France but when I got the V5 in my name what the broker said was true plus it never showed up on any of the vehicle searches.

 

I'm certain it was a local authority vehicle, possibly Forestry or Coastguard, was serviced MOT'd and maintained in Scotland, it has a fleet number in large vinyl letters on the drivers door shut, I speculate it was leased, its the sort of vehicle that would be self insured.

 A follow on question, for those of you with Motability or leased vehicles, if you had one or more or several prangs that were your fault would your monthly rental fee go up in subsequent years to reflect the loss of NCB assuming they were not self insured?

 

What about when you get the next lease vehicle?

Edited 26 November, 20232 yr by J.R.

You pay an excess.

You are insured through the group insurance.

If you are with Motability & it is three years then the NCB you might have had pre Leasing with them was lost/

But now Insurers take into account if you want to insure cars again that you have a no accident period of years. 

Edited 26 November, 20232 yr by Rooted

The issue with Police Cars was that self maintained and serviced and not MOT,d it is expected to be of a Safe Condition.

Ones were in accidents and in Aberdeenshire that should not have been on the road.  Maybe they have learned since those accidents. 

I doubt it though. 

 

Police Scotland spent millions on EV,s just not on chargers.

http://dailyrecord.co.uk/news/scottish-news/cop-car-scandal-police-scotland-13580538#

 

Edited 26 November, 20232 yr by Rooted

Thanks for the explanation regarding Motability, I recall now that you mentioned Direct Line.

18 hours ago, J.R. said:

 A follow on question, for those of you with Motability or leased vehicles, if you had one or more or several prangs that were your fault would your monthly rental fee go up in subsequent years to reflect the loss of NCB assuming they were not self insured?

 

What about when you get the next lease vehicle?

@Rooted Explained how Motability works. From my experience, if leased through a company scheme either as a benefit or salary sacrifice, the insurance is covered by company insurance as they are the lessee. I had two prangs in a year one time in a company car and I got a very stiff letter from HR telling me one more and I would be taken off the company car scheme. Those did not affect my own NCB. I have also leased a car for myself and I was responsible for insuring it - this is true even with a full package. The bin men reversed into that and my insurance was informed, but as fault was admitted it did not affect NCB.

Thank you to you as well.

Surely UK insurers are not going to have a class where cars can not be sold for spares or repairs if there is damage that means because they deem an electrified vehicle, BEV, PHEV or Mild Hybrid an uneconomic repair.   There is going to be enough business with Electrified vehicles in accidents and incidents in the British Isles for Businesses Specialising in the Recovery, Storage, Assesment and repair or disposal / recycling of parts / vehicles.     Well there are these Businesses already.    Maybe it is the Government Agencies and the Insurers that need to be involved more on insuring the safe repair of vehicles and returning them to the roads.  So far for decades they have never bothered much with who gets what, or if damaged vehicles even get reported as such to the Insurers.    As to getting dodgy vehicles back on the road the UK has a system that makes it dead easy.  

I have no idea how many £45,s InstaVolt take because i see very few of their chargers occupied, but when i have used them they are nice and easy to activate and get working.