EV Discussion thread

1961Nick

Grumpy_chap said:

Fortunately, DGG gave a full and complete answer, with evidence, to my query in the insurance board
https://forums.moneysavingexpert.com/discussion/comment/80481594#Comment_80481594

It's also worth keeping a digital copy of the price comparison site's Q&As because there are considerable differences between organisations & also the form you would complete if you went directly to the insurer's website.

Grumpy_chap

Magnitio said:

Grumpy_chap said:

Car Insurance Shocker!!

My car insurance for the Fiesta was under £200 last year.  So was the Focus.  Both are now gone.

The car insurance for the TM3 as a mid-year change was disproportionately high, but I put that down to being a change as much as the car.

I expected the premium to be higher than rock bottom that I had before, but my renewal has come through at £1,900 

I am yet to do the shopping around but totally shocked at this type of premium being tabled 

Are you happy to share what your renewal cost was after shopping around?

All quite shocking,

Renewal (if I still had the Fiesta) was £173 with zero excess fully comprehensive.

Shopped around and the best I could get for the TM3 was £1,285 with £850 excess fully comprehensive.

It really makes no sense as, between the value of the two cars, the greatest liability is always what damage could be done to others / personal injury.  For all the part that the TM3 is more expensive car and more powerful than the Fiesta, it also benefits from 26 years of development in car safety design and collision avoidance technology.  Is it truly the case that all of this counts for nothing?

MikeJXE

WOW I thought my Jag was bad enough last March at £828 on a car value of about £10,000 

Said to be because of my age being 83

michaels

Interesting for all the Nissan Leaf owners

(288) First charge with BETA CCS-Chademo adapter!⚡ - YouTube

JKenH

Some interesting insurance premium figures from the Telegraph




https://www.telegraph.co.uk/money/bills/insurance/why-does-not-pay-to-stick-with-car-insurer/

EricMears

JKenH said:

Some interesting insurance premium figures from the Telegraph
https://www.telegraph.co.uk/money/bills/insurance/why-does-not-pay-to-stick-with-car-insurer/

The DT article doesn't explain how their sampling was arranged.  In particular,  the sample of EVs would be unlikely to include any vehicles older than 10 years whereas petrol & diesel samples might include much older (& hence lower value) examples.  Hopefully same method was used for each individual month which would allow some credence to the trends noted.

JKenH

EricMears said:

JKenH said:

Some interesting insurance premium figures from the Telegraph
https://www.telegraph.co.uk/money/bills/insurance/why-does-not-pay-to-stick-with-car-insurer/

The DT article doesn't explain how their sampling was arranged.  In particular,  the sample of EVs would be unlikely to include any vehicles older than 10 years whereas petrol & diesel samples might include much older (& hence lower value) examples.  Hopefully same method was used for each individual month which would allow some credence to the trends noted.

It was more the trend in prices that struck me: 56% increase for EVs, 49% for diesels and 51% for petrol. EVs have gone up slightly more than petrol and diesel cars but not the amount we might have expected to see given recent reports.

Grumpy_chap

EricMears said:

The DT article doesn't explain how their sampling was arranged.  In particular,  the sample of EVs would be unlikely to include any vehicles older than 10 years whereas petrol & diesel samples might include much older (& hence lower value) examples. 

Surely, the value of "my car" should make little difference to the price of "my insurance"?

Whether I have a 10 yo ICE or brand new £50k EV-or-ICE, the bulk of premium risk must be the "other" car that I might hit, or stationary object or personal injury claims that may arise.
One would like to expect that the improved safety and collision avoidance measures of the brand new £50k car more than compensate for the potential claim value for "my car" by reducing the probability for an incident occurring and reducing the severity if an incident does occur.  If not, why bother with the safety stuff anyway?

MeteredOut

If your car has a lower value and involved in a more-than-minor accident, it will be written off and you will be offered a few grand, otherwise it will have to go in for repair. Both parts and labour costs for auto repairs have increased significantly over the past couple of years, pushing up insurance premiums.

if your car has advanced safety features, the actuarial algorithms from the insurers will recognise it is less likely to be in an accident and the premiums will be lower to reflect that.  But, they also recognise that the other partly might not have those features

EricMears

Grumpy_chap said:

Surely, the value of "my car" should make little difference to the price of "my insurance"?

Can only suggest that you visit an insurance comparison site and compare costs of insuring your actual car with those of newest & oldest possible versions of the same model.