Well done on helping keep the facts straight. I ran a similar exercise a month ago (and posted results on yt). 10 evs, 10 petrol cars of similar value, preferably same brand/same model. Focused on sub£25k segment. Got a 9% difference, with £40 more expensive on EV vs petrol when looking at cheapest quote. Or 16% / £81 when looking at average of best 10 quotes... so pretty similar prices and main takeaway was that shopping around when renewing insurance is a must this year.
@maricelaandrew
10 ай бұрын
Finally, thanks for doing a video about the elephant in the room. My Yaris costs £265 to insure. 63 years old, no points, full no claims. I was quoted £625 for an eNiro and £480 for the petrol version
@davidlewis4399
10 ай бұрын
60 years old Ford Focus £140 quid and its a 2 Litre
@rogerstarkey5390
10 ай бұрын
@@davidlewis4399 That's a really old focus. . What's the saying? "And if my granny had wheels she'd be a bicycle"? . Age, experience, driving record, area, vehicle value, etc, etc, etc?
@MichaelWilliams-mo1vv
10 ай бұрын
@davidlewis4399 how do you pay just £140? You must live in the Outer Hebrides and do 2000 miles a year!
@ThePrancingDonkey
10 ай бұрын
I don't have an EV, but I'll share my experience. I have a C63s Estate and my insurance has typically been £550-580 with NCB protection. This year struggled to get anything under £1000 - identical circumstances, no accidents or fines. Some of the major insurance companies - LV, Direct Line, AA etc have quoted me north of £2k, with Tesco and Halifax in the £1200 - £1600 range. I managed to get a price for £800 in the end by shopping around much more than typical. It's a pain calling them up or filling in the same details multiple times for each quote - but getting quotes directly from the insurance companies themselves proved to be effective. Hopefully things calm down in the coming year. Great content guys. Cheers.
@arjunhara834
4 ай бұрын
Hey, hope you’re okay, was wondering who you eventually ended up with for insurance and how you did that?
@deanmiller5610
10 ай бұрын
Thanks Richard. Great video and lots of work. Someone hit my model 3 long range whilst trying to park and dented the rear wing and bumper. Luckily they came and found me so it’s being sorted at no cost to me through insurance. I couldn’t believe the cost of the hire car. For a Model 3 long range equivalent, £560 per day!! At that price they would get a brand new car every 90 days. Someone is making good money from us. I will make sure I check over the repair quality as it has gone to a Tesla approved body shop. Luckily they have good reviews.
@petersort2192
10 ай бұрын
Model 3 long range last year £520 this year £880 no change in my details live london suberbs and i am 75 Keep up the goodwork love what you do
@ientwistle1
10 ай бұрын
I used an approved body shop in the leeds area for a small ding on the rear wing and it cost £280 inc vat .This included a very nice curtesy car ,they treated me like royalty and showed me around the workshops. Very very happy with the work .
@andyteale4775
10 ай бұрын
May I ask who you used please? I need someone!
@ientwistle1
10 ай бұрын
@@andyteale4775 Master cars at Birstall WF17 9LW
@Chris-ot9jf
10 ай бұрын
If you went through your insurance to fix it they would have charged you £780 because they know they can, and so they should, car repair is an art
@Brian-om2hh
10 ай бұрын
That price doesn't sound too bad actually. Anything involving applying paint will cost. Couldn't the small ding in the wing be got out by one of these paint-less dent removal guys? The cost would then have been around half......
@ientwistle1
10 ай бұрын
@Brian-om2hh the dent removal guys didn't want to touch the car and you couldn't get behind the dent with any sort of tool
@hazelbrowne7982
10 ай бұрын
Great video thank you! It took a huge amount of work to pull this together. I’m currently deciding on my next car (which will be electric) and insure has has factored very highly as I have a lot of concerns around the cost. Your video is massively helpful thank you!
@t4bs594
10 ай бұрын
If it's any help.... My Tesla Y Long Range insurance was £800 this year. My girlfriend's MG4 was just about £400.
@UK_Goldies
10 ай бұрын
As you highlight, I think a lot of this is about the insurance market in general and people being realistic about what they are driving in terms of cost and performance. I moved to a Tesla M3 RWD in September and before going ahead researched car insurance because I was moving from a 9yo VW Passat Diesel Estate. Being 60 and a clean driving licence my Passat insurance was £213 per year (incl protected NCB and legal policy and additional driver with 3 no fault claims) and had 6 months to run on it. I went to the comparison sites and quotes for the Tesla were around £650 which I decided was within the pain barrier for moving to a Group 50 car from one that was Group 22 and went ahead. Updated my details at Churchill for the Tesla and was pleasantly surprised that the additional premium was £37 for the remaining 6 months though the excess more than doubled to £600. I am expecting a significant increase next year on renewal but will do what I do every year - shop around and speak to my current insurer.
@SmartMart1658
10 ай бұрын
My Model Y renewal went from £450 to £750 this year. I managed to haggle it down to £450 again after getting quotes from price comparison websites. Also by insuring my house with the same insurer (Churchill) that got me an extra discount. I've found it's always best to shop around each year and armed with lower quotes you can often get your current insurer to price match or bend over backwards to keep your custom. If they won't play ball then you can move insurer if you find one cheaper. Insurance companies are renowned for upping your premium every year - so it's always best to shop around and haggle for the best price.
@witsend236
10 ай бұрын
I do have an EV with over 30 years NC bonus. Last year my car fully comp was £320, this year I was quoted £2275. No accidents or claims in the last 12 months. Car is the same car I have had for 3 years. 1st year premium £270, then £320 and now switched and paying £1235. Took 6 month cover and will change to ICE soon.
@Nevercash
9 ай бұрын
That doesn't sound right, I'm 27 with 9 years no claims and was just paid £840 for a Model 3 Performance.
@2036scott
9 ай бұрын
30 years NCB? I'm sure the limit is max of 9 but it used to be 12 years.. what I think you meant to say was you haven't had an claim in 30 years?
@peterholmlund9454
10 ай бұрын
Much appreciated Richard! Same thing everywhere it seems. Insurance seems to be a fantastic business. You can claim anything you want to increase premiums and customers must pay because insurance is mandatory.
@Brian-om2hh
10 ай бұрын
I think if the insurance industry are embarking on some sort of huge drive for profits, then they may well at some point need an insurance policy against themselves.
@TheTechOnline
10 ай бұрын
25 on the south coast and cost me £1000 for 10,000 miles, 4year NCB on a M3 LR. Some say it's cheap but I paid £650 last year with Churchill who refused to insure me this year. Crazy times.
@alisterbrown5239
10 ай бұрын
I spoke to an EV breaker recently and they said the insurance assessors are a law onto themselves writing off nearly new cars that could be fixed for a few hundred pounds. We're still in the early stages of EV's and people are either cashing in on the FUD or have not been trained properly to handle EV's so are making poor decisions.
@RandomNoob
10 ай бұрын
My last one got wrote off, insurance paid out and it got sold on copart mid-September, by the end of September it was showing as taxed and insured again.
@Paul-Thomas-LifeCoach
10 ай бұрын
Excellent piece of reporting Richard. Really good detail.
@johndoyle4723
10 ай бұрын
Thanks, mine is a Kia EV6 AWD list price £55k and 0-60 under 5 secs, so it is a quick expensive car. No points 70 year old,kept on drive 10kmiles/year, £445 insurance quote last week. Best car I have ever owned, way better than my previous Range rover sport.
@s.kxx1956
10 ай бұрын
My renewal for MY was £4k but went on confused and got it back down to what it was before
@rogerstarkey5390
10 ай бұрын
It's the the same with any insurance.
@chrispenn715
10 ай бұрын
Interesting thanks. Just renewed the insurance on my 12 month old MG4 - gone up by roughly 50% from last year with my existing provider. All other quotes were higher. I wonder if the changes made by government a year or two ago to stop insurers fleecing existing customer whilst offering discounts for new customers is a factor?
@Tresla
10 ай бұрын
100% it's factored in. They gotta recoup those profits from somewhere!
@ohhyesitsonlyme
10 ай бұрын
My wife’s Puma ST-Line 125 was £155 last year, this year £279, with Liverpool Victoria. Went to comparison sites, came back with higher quotes. Went to Direct Line (will be my first and last time!) - they quoted nearly £900!! No claims, accidents, points on licence etc. All clean.
@davidsworld5837
10 ай бұрын
I can say that some insurance companies are profiteering. not a car quote but a house insurance one British gas Last year £117. this Year wanted £256. blamed it on inflation. you can not stay with the company you were with each year they will screw you. yes the quote went up from last year but got this house insurance for £156. It is the same for car and any thing else. They are making back what they have lost during Covid.
@johnnyboy7459
10 ай бұрын
@chrispenn715, just renewed my EV insurance with the same company and it was £130 less than last year. It’s crazy what’s going on
@seamusdepaor1
10 ай бұрын
Excellent video. We run an insurance scheme for EV’s in Ireland and have found that in some cases repair costs are higher but that EV’s tend to have a lot less accidents and claims (mainly due to improved safety and anti theft tech) than ICE equivalents. I don’t think insurers are factoring in that to their rates.
@WeeShoeyDugless
9 ай бұрын
Oh they will most certainly be factoring in EVERYTHING on their pricing, including raising the price of everyone's insurance to cover the ludicrous repair cost of EVs, Teslas in particular. Speaking to my broker, he said the insurance band has been kept artificially close (but only slightly higher for EVs) to encourage EV ownership as per the dictat from 'above'. All this at the expense of the poor IC engined vehicles which are artificially high to cover the insane repair (or mostly right-offs) costs of EVs. It will all come out one day, I hope some of the media programmes, Panorama etc, get their teeth into it soon!!
@Nevercash
9 ай бұрын
@@WeeShoeyDugless All Tesla's are band 50U (The highest) so not sure where you are seeing lower bands.
@WeeShoeyDugless
9 ай бұрын
@@Nevercash Sorry, I meant 'price band' and not insurance band😮
@garyrooksby
10 ай бұрын
Thanks for sharing such balance and experience, Richard.
@bordersw1239
10 ай бұрын
As an ICE driver, interested in EVs, after watching all the doom and gloom about EV insurance I did a search using 2 cars on Autotrader. My results Tesla MY long range £40K car - £590. Taycan Performance Plus £70K value - £650. Didn’t think either were too bad.
@RSEV
10 ай бұрын
Good prices for sure 👍
@kimkimkim8
10 ай бұрын
It's good that you showed the difference between all car insurance, I test drove a Tesla model Y long range and fell in love, and for my family, it would be the perfect car. I'm in a 22 reg nissan leaf on pcp and next year, I intend to change. Hopefully, it will be with you guys. Red with white interior. Lol ❤ 👍🏼😉
@louishiggins8881
10 ай бұрын
When I moved from a 7 year old Golf GTi last year to a new ~£40k EV, the cost to transfer was just an admin charge - was really pleased 😁. This year, I renewed the insurance in July, and it basically went up by 40% (to £350) for a much more expensive new car + significant annual inflation 😂. Next year might be different, though. Not regretting the move to an EV (in 12 months, I have only used a public charger 3 times (charge at home), so I'm an ideal fit for an EV).
@davidlewis4399
10 ай бұрын
Cost me £140 quid enjoy
@sandyfordd1843
10 ай бұрын
I moved from a 2012 2.0L Mondeo estate to an Ionic 5 and my insurance went down by €120, as did my motor tax. My running costs have reduced by 70-80%. I couldn’t be happier. The Hyundai is worth a lot more and is more powerful but fully comp is only €320 PA. I think there’s a lot of price gouging happening in the UK insurance market, (where I used to work).
@alexb2612
10 ай бұрын
@@davidlewis4399What shit heap are you driving around in?
@ISuperTed
10 ай бұрын
Did you shop around? Insurance companies do this all the time - they get you in with a first year lower quote then try to sting you after that. Has always gone on .
@bwarey52
10 ай бұрын
@@ISuperTedthe government have brought in legislation stoping them doing that...... Unfortunately it's had a worse affect for the industry and is one of the reasons that price's have gone up across the board for everyone
@mikedenby6324
10 ай бұрын
Thanks for doing this research Richard, all very interesting to see the various prices/comparisons with ICE cars. Have just renewed my Hyundai Ioniq 5 car insurance. Had a 20% rise from November 2022 for Nov 2023 (now £316) using same insurance company. Comparison sites all higher than this.
@lee_carter
10 ай бұрын
I've been with Direct Line for 10 years, drove a Volvo V60 cross country with Polestar remap which was £360, this year it was going to be nearly £600. Ive just changed to a Volvo XC40 Recharge P8 which they refused to insure, zero no fault accidents, over 50 full no claims. open market price was circa £900, Volvo direct was £600. I wonder if the balance will start to move to the manufacturer to fill the void?
@davidlewis4399
10 ай бұрын
Only until they go bankrupt I imagine
@rogerstarkey5390
10 ай бұрын
@@davidlewis4399 You're right. Most Insurance companies WILL go bankrupt..... . (If you're going to troll, you get what you give)
@ouethojlkjn
10 ай бұрын
Tesla did this in America when they started taking the Mickey with pricing. As the car companies have their own finance arm, and there is no reason why they can’t have their own insurance arm either.
@mikewallace1723
10 ай бұрын
Your Cayenne quotes are nearly double mine! Are you in high risk area or risky drivers?
@Brian-om2hh
10 ай бұрын
Yes, I think something like that will definitely happen Lee.....
@trader548
10 ай бұрын
The crazy figures in the news for insuring an EV were ruling them out for me. Thanks for taking the time to highlight that insurance for a comparable performance ICE car is not that dissimilar.
@philipdobson
10 ай бұрын
My insurance on this year's Model Y, £798 compared with my model 3 last year of £436 so a big jump, but this seems true for all cars. I have used my local body shop twice for minor bumper repairs and they have done a good job at reasonable costs, same as my previous Range Rover. They even worked out how to remove the bumper and disconnect the cameras without going on a Tesla training course.
@WeeShoeyDugless
9 ай бұрын
Watch out if you have any warranty claims (if still under warranty) as there are stories abound where Tesla will not honour them if the car has been repaired bodily at anywhere other than a Tesla centre. Just saying.
@matthewlee2424
10 ай бұрын
I went feom an 11 yo passat 2.0L diesel auto to a brand new 2023 Tesla Model 3 RWD. My fully comp insurance went down £16 with Direct Line and it was already relatively cheap (50 years old, full no claims protection, no crashes for ages touch wood etc)
@samlodge4820
10 ай бұрын
Tesla Model 3 long range, last year £1,800 next month due again 5,240 33 years old, Been driving since the age of 18 never had any traffic Convictions. Love the videos always very informative and professional 👍
@RSEV
10 ай бұрын
Wow. And is that just their renewal quote or have you been on comparison sites?
@samlodge4820
10 ай бұрын
@RSEV That's a renewal price of my current insurance company, I haven't looked on any comparison sites however that's my next step this evening. Watching your video has give me a little hope I'll get a cheaper quote 😊
@joeb9050
10 ай бұрын
Make sure you check different dates to start your insurance. The price difference can be hundreds.
@pmac6584
10 ай бұрын
My sister was looking for a van for a dog walking business. £400 for a diesel versus £1000 for an env200 electric van. She is not going electric!
@stevehayward1854
10 ай бұрын
My Tesla M3 LR cost me £534, is yours dipped in gold ?
@ronibee
10 ай бұрын
I bought my M3LR in March last year and the insurance was £385. This year it went up to £451 but I've been doing quotes after hearing about insurance price hikes. I can't get under £1000 now and it will probably be much more by next March. On the other thing about claims cost, I was sitting at some Tesla chargers last April when an old boy in an SUV scraped along the front of my car. It didn't look too bad: a split along the front and a slightly buckled front wing. I had it repaired at a Tesla approved repairer. The parts were just under £1000 but the final cost was just short of £15000!
@rogerstarkey5390
10 ай бұрын
That's an issue with the repairer. I'd be having a word with Tesla
@RSEV
10 ай бұрын
Yeah that’s exactly it. And the bill probably included a new rear badge because it always seems to!
@ouethojlkjn
10 ай бұрын
That does seem a lot indeed. I don’t know what the problem is when insurance money pays for repairs, but it never seems to go as far. My brother had a small Toyota Yaris and he literally crawled into the car in front with no visible damage and the insurance company still wrote his car off!
@dangosypethau
10 ай бұрын
difficult to make sense of the disparity of prices, looked up a Tesla model 3P 19 reg, direct line quoted me £994 while a comparison website started from just £565 for the same type of cover
@Brian-om2hh
10 ай бұрын
It does definitely pay to shop around......
@franklong6269
22 күн бұрын
I bought a used 2022 RWD LFP Model 3 with 77,000 miles on it. I also own a Toyota Tacoma 4--wheel drive TRD Sport truck. Both of them cost me something like $1350.00 to insure for six months for both vehicles. The Model 3 is $1022.00 to insure for six months for full coverage, with $300,000 worth of coverage and no-deductible glass coverage. That is about $170.00 a month. Considering the original price for the car was over $50,000, that is a very good price. My Tacoma is 16 years old and it doesn't have near the replacement costs of my Model 3. I paid cash for the car and I could have just purchased liability, but full coverage didn't cost much more. For both vehicles, I am paying a little over $214.00 a month for full coverage insurance with high limits. I consider that a bargain because as you have noted, insurance costs, in general, have gone up. If you were to insure any car that was two years old and had an original cost of over $50,000, I would guess that a similar ICE vehicle would be in the $170.00 a-month range. It's simple logic, isn't it? If you buy a used Lexus that originally cost 50,000, the insurance is going to be higher than a used Toyota Camry for the same model year.
@davedutton5291
10 ай бұрын
Hi Richard, I purchased an I-pace in March and the insurance for the remainder of the policy was just over £650. I have renewed now and the full year is £1100. My previous vehicle was a Kadjar and I believe the renewal on that would have been around the £500 mark. So all in all I don't think the I-pace cost is outside what to expect given the increases in premiums in general and the fact I now drive a high performance EV which would have cost significantly more than my Kadjar when new. Keep up the great work. Cheers Dave
@OldManTony
10 ай бұрын
I’m sure it didn’t help that a Range Rover burnt down a multi story car park at Luton Airport 😂😂😂
@Tom55data
10 ай бұрын
Apart from that, there is/was a problem with the remote locking option that was trivial to work around.
@robhills2613
10 ай бұрын
And the Range Rover that burnt a claimed 1,400 cars in Liverpool (UK) in 2017, though that seems to have been an older vehicle.
@Tom55data
10 ай бұрын
@@robhills2613 also one that burnt out a dealership early this year. There is a 112000 car recall on thr diesel v6 cos it leaks fuel onto the exhaust and ignites.
@rogerstarkey5390
10 ай бұрын
@@Tom55data Interesting
@peterholmlund9454
10 ай бұрын
Completely unheard of, non-electric cars burning 😱. Not if you believe the completely unbiased media reports(sarcasm warning)
@WalkingEng
10 ай бұрын
USA based here, moving from a BMW 320i to a Long Range Model Y was around $20 difference earlier this year. I checked before I pressed the Buy button for the MY, wanted to make sure the economics of moving to an EV was reasonable. Nice reporting, glad to seeing some rational countering to a lot of the misinformation being put out there.
@johnbooth5199
10 ай бұрын
I've only had my license for two years, mid 40s, rural east midlands, 2019 Hyundai i20. My 1st year quote was £832, last year was £573, this time for 23-24, £831!
@nickhaigh8322
10 ай бұрын
I've recently moved to my first EV. Went from a BMW X3 30d to an iX3. My insurance went up £80 to £520. Not bad really considering I'm not paying road tax too.
@ouethojlkjn
10 ай бұрын
Wasn’t that comparing your old price for your diesel with your new price for your EV? Was that compared to renewal?
@davidg9057
10 ай бұрын
Have a 30d myself insurance £551, renewal £701. Quotes on Mercedes EQC and Model Y LR both north of £1100
@Roll_the_Bones
10 ай бұрын
@@davidg9057 A couple of 100 squids isn't a deal-breaker when off-set by reduced maintenance & fuel costs. Nay-sayers claim battery life is just 6 yrs, when a current EV battery will not die for 10-15 yrs, if not over-charged by an idiot. By then, replacement batteries will be massively cheaper anyway, just look at laptops, the new battery I bought last week for my 7 yr old laptop cost 20% of what it would have been originally. By 2030, 80% of all new cars will be EVs, so a change will have to happen, across the board.
@TeckleEh
10 ай бұрын
I moved from a 1 and a half year old BMW X3 M40i to a new Model Y before insurance went crazy... BMW was less than 50% of the insurance cost before all the price increases. Doing a quote right now the Model Y is 140% more than a BMW x3 M40i...
@ianwatkins9609
10 ай бұрын
Thanks for saving me the time to do my own analysis. Was going to check Jag iPace v F pace as my Insurance doubled when I switched from Audi A5 convertible to the iPace. Now paying £750, and looking to go up another £200 /£300 next renewal for no changes since the last renewal?
@andy9841
10 ай бұрын
Thanks for this, you have put my mind a bit more at rest. I got my M3L in April and it cost me £650. Lets see what next years cost will be..
@ianjames3078
10 ай бұрын
38kWh Ioniq was £200 last year, £275 this year for me. Brand new Tesla M3lrrwd was £550 for me in Aug……..i just did another quote for it yesterday with a 4 week offset, so saying I needed the insurance 20/12 and a quote saying I needed it in 2 days time…..really interesting. Top 3 quotes for 2 days time, £580, £715, £750. If I want it in 4 weeks….£433, £450, £520. Had to put excess up to voluntary £500 on Tesla whereas Ioniq was £0. No issues for me with the insurance for a 300hp car costing £45k plus.
@jeffreysmith1071
10 ай бұрын
I'm 58, 11 years NCB, 3 points for SP50 in 2021 and a non- fault claim 4 years seven months ago. I got a brand new MG X-Power last month, my previous car was an Audi RS Q3 that was £874, the cheapest quote for the X-Power was £1055. I must say im over the moon with the X-Power, loads faster than the RS and the build quality is spot on.
@Phantom-mk4kp
10 ай бұрын
I got quotes on same day Aston Martin DB9 £500. And Tesla Model S £1000. Both similar value and performance.
@robchambers7206
10 ай бұрын
`very informative. I have just insured my M3LR at a price £350 more than last year (48%) with full business insurance and despite a fault claim
@marvinsamuels1237
10 ай бұрын
My dad was in the body repair business for over 40 years and his biggest complaint was insurance companies paying for replacement parts instead of repairing them and said it was causing insurance to go up. Insurance is going up for all vehicle types, it's just easier to say it's only EV's, as bad news sells.
@WeeShoeyDugless
9 ай бұрын
Not what my broker said, he told me EVs ought to be way higher. Instead, the companies are spreading the cost of the repairs/written off EVs with the costs for the rest who don't drive EVs. When you think about it, there are 33 million vehicles on the roads of the UK, are there one million EVs on the roads? Doubt it. So, take a bit more from the 30 odd million others to cover the ludicrous repair bills of EVs. They could NOT do it the other way around!!
@michaelthompson2202
10 ай бұрын
I’d be interested to know what the excess was for each of those comparisons. If they were all similar then great, but if a similarly priced insurance premium between different cars had large variances in the excess, it would need to be considered.
@markjwilcox
10 ай бұрын
Hi Richard. A very well thought out comparison between EVs and their actual equivalents. There is news, however, that some insurance companies are refusing to insure EVs. Do you have any data on that?
@Brian-om2hh
10 ай бұрын
It makes you wonder what these "we don't insure EV's" insurance companies might do if mass EV adoption takes hold, as intended? Will some other bodies or organisations, who will insure EV's, appear? Clearly, the road ahead is mapped out, and mass EV adoption is the intention, so something will have to give. Anyone got any thoughts?
@thewinelakeuk
10 ай бұрын
It seems inconsistent. I've heard of someone with Churchill being told they won't renew, and yet others can get renewals. I wonder if it's that if the renewal price is high, they just say no to avoid embarrassment!
@mikeclark93
10 ай бұрын
I'm looking to get an EV soon and your experience is invaluable. As it's such an emerging market I'm sure things will change. Insurance companies base insurance quotes on masses of data and surely all the safety/driving aids on EVs will help. Just depends on future theft data and driving standards with all that power.
@Joe-ud2hb
10 ай бұрын
Useful exercise Richard, I priced cover on an MY a while back & from what I rem it was €350 more than an Eniro. There was alot of chat recently that insurance companies were charging more for Teslas because of giga castings being more expensive to repair - hopefully it's not the case. Great video.
@casperhansen826
10 ай бұрын
Why do people think the Giga casting makes any difference in repair bills? If the damage reaches so far into the car it would be deemed totalled anyway! If it should make any difference it would be that it is cheaper to replace the car
@rogerstarkey5390
10 ай бұрын
Let's get this straight? . Lars Moravy Vice President, Vehicle Engineering at Tesla, has been "vocal" with regard to the repairability of castings.... Or should I say "annoyed, indignant", questioning If those criticising, (speculating) believed that his team had not fully considered the strength and crash resistance of castings, along with the requirement and methods to repair them. .
@t4bs594
10 ай бұрын
I insured my Tesla Model Y Long Range, yesterday. £800. That was better than I expected, considering the attention this is getting. Changed company from last year. However, it is apparent to me that insurance companies and comparison sites are playing with us. I also got quotes much higher. In one quote, I accidentally entered my DoB one day out. Correcting it added over £300 to the quote. We are being messed with, unfortunately.
@jakeollie
10 ай бұрын
Hi I live in Perth Oz, last year my brand new model 3 Standard range cost $1000 fully comp, with the same insurer and me been 1 year older and still never having a claim. I was quoted $1600.
@philhartley7564
10 ай бұрын
Hi Richard, the brand new Audi Q8 etron 55 estate in ultra blue that I brought to your place in September was significantly less in insurance than my previous grey Audi etron 55 sportback. All conditions regarding history remained the same and it included business use, fully comprehensive. Maybe it was because "sport" wasn't in the name, I don't know but the complexity and prices of parts has risen drastically from the days of normal lights, steel wheels, no driver aids etc. All these things cost more money (such as headlights, as you mention) and are, therefore, very expensive to replace.
@SteveLoughran
10 ай бұрын
BMW iX1: £590 for renewal . Last year’s BMW 320d touring was about £520. Which they didnt change when we switched to the EV. DirectLine clearly consider us boring -we did say 6K miles/year; off street parking. Note: they wouldn’t let us add our 21 y.o son as he only passed his test in January. Anyway, cost increase of £70 on a 500 quote, so that’s about 15% increase
@CoxJul
10 ай бұрын
Are you suggesting that certain sections of the media might have been exaggerating in stories about EVs (without proper research/data) and making them look bad and creating FUD? 😮 Who'd have thunk it! Thanks for this straightforward video with helpful comparisons.
@toddgilmore8242
10 ай бұрын
The insurance on our 22 Tesla MYP just renewed the 6th of November. It went up almost $400 annually while our 19 Honda Accord 2.0T Touring went up $150 annually.
@gavinderbyshire5535
10 ай бұрын
Great video Rich, I'm in the market to upgrade my classic Ioinq to a Tesla and I'm staggered on the difference between a SR+ and LR, almost £500 different. Think I'll be going for the SR+
@rogerstarkey5390
10 ай бұрын
Vit that's like saying "I'm upgrading my focus to a hot hatch, or maybe a BMW M3... the difference in insurance is incredible"
@RSEV
10 ай бұрын
I have a couple of superb SR’s for just £22,995 and I’ll happily take a classic Ioniq electric in p/ex as long as it’s tidy with Fsh. www.rsev.co.uk
@ouethojlkjn
10 ай бұрын
Bear in mind that a model three four-wheel-drive is a 450 hp supercar… even the SR plus has 320 hp these are serious cars that will attract serious premiums. Having said that my SR+ to ensure was under £300, but it all depends on other factors. Good luck!
@alangordon8940
10 ай бұрын
Great to share this as I think people forget how expensive and fast some of these ev’s are when comparing premiums!
@KCTalksEV
10 ай бұрын
Just got my renewal quote through Aviva - 25 Y/O, about 15k mileage a year (with business cover). Given what heard from the This is Money was expecting about £1500 or something ridiculous. Last Year: 719 This Year: 728 Although still think it's ridiculous it's going up (I am now past the age where insurance companies believe I'm just going to instantly roll my car into a ditch), I think I can just about afford the £9.
@KCTalksEV
10 ай бұрын
@@imraniqbal4447 ZS EV - check out the channel for more!
@garrycroft4215
10 ай бұрын
I got my Smart #1 Brabus 6 weeks ago. The problem I had was the car wasn’t listed hardly anywhere because it wasn’t due to be here until December. Eventually I got a quote of £1,460 with all the extra cover. 428hp 543 Nm torque 0-60 3.7 quarter mile 12.1 seconds. So quicker than an RS3 😂
@BibTheBoulderTheOriginalOne
10 ай бұрын
How much did it set you back?
@garrycroft4215
10 ай бұрын
@@BibTheBoulderTheOriginalOne list price. £43,450
@BibTheBoulderTheOriginalOne
10 ай бұрын
My Hayabusa cost me £5,750. It will leave your car in the dust. @@garrycroft4215
@BibTheBoulderTheOriginalOne
10 ай бұрын
And I can refuel it in 2 minutes. Not 2 hours.@@garrycroft4215
@davidlewis4399
10 ай бұрын
Yeah but the RS3 is a nice car and will have a residual value in 3 years
@EddieGriffith2802
10 ай бұрын
Had my Model 3 Performance for over 4 years now. Here's what I paid for my insurance over those years (low mileage driver, aged 49, maximum no claims discount, clean licence): First year 2019: £339.24 (LV) Second year 2020: £366.24 (Churchill) Third year 2021: £362.20 (Churchill) Fourth year 2022: £356.72 (Churchill) Fifth year 2023: £551.87 (Churchill)
@IanMiddletonX
10 ай бұрын
I've had 2 bits of bodywork repair on my M3 done by a local bodyshop I used to use when I had a Porsche. They said they wouldn't have touched it if it needed a panel (luckily it didn't). They did an excellent job. I tried comparing with some other local workshops. Many of the wouldn't even discuss it because it was a Tesla and parts are so hard to get. If they're not careful they are soon going to price themselves out of business on insurance costs alone. I didn't go through the insurance on my body damage as it only cost around £100 and half of that would have been lost in excess. I'm 64 living in Oxfordshire with a clean licence and full NCB. I paid £620 in July and thought that was reasonable. I pay around £200 for a Fiesta 1L
@paulmudie4053
10 ай бұрын
Although worth comparing, I think people have been feeling the pain of these drastic increases. I looked at Tesla Model Y insurance earlier this year and prices were around £800. Checking last week, it had rocketed to over £1,200! Others may have had similar experiences with ICE cars, but the news seems to be that EVs have been hit hardest.
@jezza6575
10 ай бұрын
2023 Tesla Model Y Performance is $1250/year for a married 48 year old male with a good driving record and excellent credit rating. My coverage is higher than standard and includes full glass protection as well. This is roughly $200/year more than my previous 2016 Toyota Tacoma.
@UK-Cycling
10 ай бұрын
Thanks Richard. Top video. In general which insurance companies were giving the best quotes? Best regards Martin
@JezNight
10 ай бұрын
Had a scrape from an Asda home delivery van breaking passenger mirror and scratch on passenger side doors and a 1cm scratch on the wheel, my Tesla 3 Performance was only 3 months old at the time. Finesse Dorking charged Asdas insurance company in the region of £7,800 to repair including new wheel and tyre! Terrible service too, making that much out of an insurance job you’d think they would at least bring the car back to you cleaner too… nope, they even left their Vape in it.. that’s right, didn’t even transport on a truck. Its companies like these which are pushing insurance prices up
@jamesphil1
10 ай бұрын
Last year my insurance premium on my 2019 Model 3 Performance was £395, this year £607 with Directline. In terms of body shops I find the Tesla repair centre in Dartford to be quite reasonable. For rear a bumper replacement £1600, however £500 of that cost was the paint!
@caolkyle
10 ай бұрын
I, 26M with wife 25F in Edinburgh. Insuring a Nissan Leaf 71 plate. Previous year was £425 (Full comp, 5000 miles, 3 years NCB, £250 excess) automatic renewal quoted £480 which is the cheapest I was offered. When doing new quotes (CompareTheMarket/ GoCompare etc cheapest was getting offered £600+) I recall Direct line wanted £1,000+ which is crazy, I can see why they're not on comparasion websites lol
@stevemartin840
10 ай бұрын
Very interesting video Richard. What I noticed when I recently insured a Tesla model 3 standard range is my quote was very reasonable, it was when I added additional named drivers the prices shot up. I added my wife and our nanny and the quote almost doubled 😢
@dalroth10
10 ай бұрын
A very interesting video and thank you for taking the time and trouble to create it. I'm 66, no points on my licence, keep my car on the drive (not in a garage) and have fully comprehensive cover based on doing 10,000 miles a year. I drive a 2021 Hyundai Kona 64kWh EV and my premium in May of this year, (fixed for the next 3 years if I don't make a claim), was £397. My wife is also 66 and has no points on her licence. She drives a 2017 Mazda 2 1.3 litre petrol car, which is in a garage overnight and has fully comprehensive cover based on doing 6,000 miles a year. Her premium in December 2022 was £334. She has made no claims in the last year but has just received her renewal reminder. For the same cover her current insurer has quoted £698, so more than double. Yes, car insurance premiums have skyrocketed and although quotes from other insurers will certainly now be sought, I suspect it will still be a lot more to insure her car than it was last year!
@kch1888
10 ай бұрын
It does seem to be a lottery…I came out of an X5 and the Model Y is double the cost to insure, whereas my mate has gone from X5 to Eletre R and his premium is more or less the same 🤷🏼♂️
@ouethojlkjn
10 ай бұрын
I guess as Richard says here, you have to compare like with like - what is your X5, brand-new like them model y and the same cost with the same 510 hp?
@kch1888
10 ай бұрын
@@ouethojlkjn the X5 was brand new (c.400bhp) and it’s the MY long range that I’ve got (which is 434bhp I believe). The X5 was also a £90k car, so far more expensive, but it was in a lower insurance category. Like I said, hard when you’re not comparing apples and apples but insurance makes no sense when a 900bhp Eletre R is cheaper than the X5 never mind the Tesla.
@leesouthall1476
10 ай бұрын
Hi Richard my model y was £1100 last year this year was quoted £3000 with 3 points. I’m 55 and the cheapest I could get was £1800 I luv the long range but the insurance will drive me away. That’s for the long range
@ouethojlkjn
10 ай бұрын
I guess one consideration is, how much would you pay for a similar AWD SUV, with 510 hp?
@danielcamp9054
10 ай бұрын
I’m 52, came from an M5 Comp (2018) to a Model 3 LR. Insurance went up from £750 to £2,100 - finally negotiated down to £1,055. I still can’t understand why the Tesla is a group 50 U - why they paced it under U I do not know…
@briandavis7137
10 ай бұрын
Thanks for another great video. I have just bought an new EV an MG ZS EV Trophy Long Range (Great car, by the way) and my Insurance renewal has just come through. It was with great trepidation that I opened the email given some of the scary prices we've seen. However mine was just under £300. Bear in mind I am 59 and have loads of NCB and live in a low risk area which may be factors. I ran a quick check of the Price comparison sites and my company (Churchill) were at the top of my quotes with a very similar price to my renewal (that never happens, right?) To compare, last year the policy was for a 2010 Ford Fiesta 1.4 Petrol and was just under £200. So for a brand new EV I am happy with that.
@davidgreen8171
10 ай бұрын
My quote for my M3 SRP has just gone up from £360 to £660, it is a lease that finishes at the same time so I won't be renewing. However I have an order in for a M3 Highland, so I am expecting a bit of a price hike when it comes to insuring that!
@rogerstarkey5390
10 ай бұрын
But by all accounts it's simpler and cheaper to build.
@ouethojlkjn
10 ай бұрын
There does not seem to be any way to understand how insurance companies come up with their premiums. I failed to understand when I get a quote from a comparison site where one could be a couple of hundred and the other can be a couple of thousand for exactly the same car driven by the same person and in the same location.! I guess we all just have to shop around now as the old adage. The best customer is the one you already have is dead and buried long ago….
@bigjimmer1
10 ай бұрын
My Tesla Model Y Dual Motor renewal is £1750 which was the cheapest quote by several hundred up £400 from last year. I had one quote for £5k. By comparison my previous car was a modified BMW 340i, £800.
@RSEV
10 ай бұрын
Wow. Tried a quote for the 340i again to see how that would be now?
@clarkwgriswold157
10 ай бұрын
I think you’ve hit the nail on the head with comparable performance cars Rich. Pretty similar tbh. Shame you didn’t include Joe in your calculations. He’d significantly increase the average age of the staff team. 😂😉
@Roll_the_Bones
10 ай бұрын
What??? Joe's a kid... just a bit more mature-looking than the rest. I'm shocked at this failed attempt at age-shaming. Seriously, when you're over 40, which WILL happen, people WILL call you an old geezer, and you won't have a leg to stand on. Because that's how it goes for every person who ever lived, including you.
@YakobtoshiNakamoto
5 ай бұрын
I just got my first EV - Tesla Model 3 SR+ 2021. Got a quote from RAC insurance for £3000! Tesco was £2500. Cheapest was Admiral at about £1000. I’m 30, 8 years no claims, no convictions/points. I’m pretty sure some insurers just don’t want to take the risk so they rack the price right up. Absolutely ridiculous. Government needs to put a price cap on premiums otherwise it’s going to get out of control. New drivers are already seeing quotes of up to £3000 for 1/1.2L cars. Ludicrous 🤯
@trevorsbarkingmadchannel4501
10 ай бұрын
Interesting vlog Richard. I’m 60. 3 points. Full ncb protected. 2017 30kw leaf. SDP 7000 miles a year. I have to go with direct line as they’re one of two companies who accept amazons add on hire and reward insurance. Direct line went up this year from £363 to £717 ! Incidentally I pay Inshur the Amazon insurance 62p an hour to deliver food part time self employed. Previously 69p. Amazing how that’s come down. Next year am seriously contemplating it may be cheaper to insure totally under hire and reward and do just eats etc to make up the difference. It’s been a ridiculous jump. The only other known co to accept the add on insurance is Admiral and they were £968 ! Just all gone barmy.
@brettbradshaw3704
10 ай бұрын
I'm UK based Came from a modified corvette C5 manual. Cammed, 243 head, AR long tube headers. BC coil overs, different wheels, sodium valves. All declared to the insurers and that cost me roughly £1,200 py. No convictions and 7 years no claims. I've just bought a Tesla model 3 performance from yourselves and the insurance was substantially higher at £1,800 for the same specs... Admitted I think if I did the 21day sweet spot that could have been £1,600-£1,700 but they are massively more expensive. Although I still can't be insured on a vauxhall Corsa at almost £4,500py 🤣😂 Edit: quote for an M3, similar milage, year and price to the M3p I bought from you guys, was quoted £2,400!!!! I swear insurance a month or two ago was like £1,200 for one of these if I recall
@FortniteFinn09
10 ай бұрын
Our quote for my partner and me for our RWD model 3 was £650 based on 10000 miles a year but if you want to do over that mileage each year it went up to £1000😮
@rogerstarkey5390
10 ай бұрын
Shop around!
@remakeit2628
10 ай бұрын
Australian experience on a renewal after 12 months = shopped around and shaved off another $150 from first year's cost, so dropped about 20%. Big price difference depending on SUBURB (aka "postcode") as one kilometre away and the cost is several hundred dollars more than last year. Car theft is a massive problem in our State, with most cars being burnt out or otherwise written off. Another factor here is choosing "options" - such as windscreen replacement (or not) - and excess (ie how much will I pay before the insurance kicks in). This latter component of "excess" can massively reduce annual premiums with some insurers, so if you have a "no claims" history and don't get into accidents you increase your excess and reduce your premium. That said, to date in Australia younger drivers have not been big on EVs and as they are the HIGHEST accident risk group EV premiums are NOT increasing. That might change. Although mitigating against that is a rapidly improving parts supply chain which should keep repair costs down.
@arthurpullin7669
10 ай бұрын
Good video model 3 LR dual motor last year 25000 miles a year & business last year 529.55 just renewed 833.43
@humphreybradley3060
10 ай бұрын
Insurance costs have risen massively! Last year my Model Y LR was just over £600 this year over £1100! 60 yrs old, 8 years NCD, clean licence & we live in rural Kent! NUTS!!!
@rogerjeck9281
10 ай бұрын
I appreciate the convo richard. I have a new model s long range and pay approx $2,400 per year for full comprehensive coverage. In america we have the option to have just liability coverage that covers the damage to other peoples property only. it is useful for an old vehicle with little value that is owned outright. Your insurance sounds very inexpensive but not sure if the numbers are for a whole year? and what coverage you have? more details in the next ins episode please! thanks again ~ Roger
@hareshkaria8377
10 ай бұрын
Thanks for the research Rich. Like everything we have to shop around but just amazed Teslas are crucified time after time. Give us a break & give us incentives to purchase these vehicles & not penalize
@rogerstarkey5390
10 ай бұрын
Wait for Tesla insurance to arrive. That will crucify other companies. It will get to the point where if a Tesla is involved in an accident it won't be worth the other company bothering to contest because Tesla will just pull up a detailed record with 360° video, speed, direction, etc. No "our driver said" or unreliable witnesses. No "knock for knock"
@kwiyau
8 ай бұрын
You forgot to mention the car insurance quote compulsory / volunteery excess prices. Did you use the same prices or was it varied between each driver?
@paulhoppy66
10 ай бұрын
Hi Richard, where were you getting your Tesla quotes from please?. I was recently quoted £3300pa on the usual comparison websites for a 2020 M3 SR+ ( by comparison a 2020 polestar2 quote on same site, same details, was £800 pa).
@MR54PDC
10 ай бұрын
Just bought Lotus Eletre R. Zero to 60 in under 3 seconds, 900 hp. £127,000. £20 p.a. less to insure than my old Tesla model Y LR. (£950). Lotus dealer said that was what most buyers were paying.
@kcebliks
10 ай бұрын
Just over 2 months ago swapped a 19 year old Mitsubishi Colt for a less than 2 year old Mini SE, had to pay another £40 for the 8 months balance, didn't seem too bad, a few weeks before daughter had swapped a 2010 Hyundai I20 for a 1 year old Corsa-E, got a refund as breakdown cover no longer required. I ran a couple of checks through a comparison site, Mini Cooper SE was marginally cheaper to insure than equivalent Mini Cooper S (2 litre) £352 vs £367, Corsa-e slightly more than a 1.2 petrol £350 vs £313, these quotes all about a month old now though.
@DavidBrown-bs7gg
10 ай бұрын
Good work. Like for like they’re not more expensive. I think across the board all insurance has gone up. About 50% increase across my 5 cars
@Ollie0288
10 ай бұрын
Model s 2019 raven long range. Came from an e350d estate 66 plate. Insurance this year has gone up 55%, did a comparison with the e350d out of interest and that would have gone up c50% too. The model S is c£100 more per year than the merc was. I don’t doubt there are many in worse cases, but it Feels a bit like EVs are an easy target again for the usual suspects. The UK really is in a sorry state in many regards, insurers are just the latest in line to hike their prices up.
@davidlewis4399
10 ай бұрын
Um they get written off more easily catch fire and cost more to repair = expensive insurance.
@rogerstarkey5390
10 ай бұрын
@@davidlewis4399 "Um" You do know that UK police forces have dumped their contracts with BMW? Because...... Diesel fires. Google it. Then check the actual data. . smh
@Ollie0288
10 ай бұрын
@@davidlewis4399you are just repeating the daily mail tropes I’m afraid.
@alanwoollett2628
10 ай бұрын
My LV insurance auto renewed my 2021 Tesla M3 LR in 2022 @ £1400+ and in November my renewal was £1300+, I compared the market and got a quote from Admiral for £800+ a £500 saving! I went with Admiral! I am 72 years old with 25 years plus NCB.
@ouethojlkjn
10 ай бұрын
That old adage, the best customer is the one you already have is long gone. For anything that you renew you must shop around because your existing provider will nail you to the wall.
@Soulboy63
10 ай бұрын
Insurance ..Merc GLC deisel £900 , Kia EV6 (0 - 60 , 7 secs) £600 , after recent rises , My new Kodiaq was £400 18 months ago
@leruez123
10 ай бұрын
We’ve got a Zoe and an MG5 both renewed in the last few months for about £250 each.
@ianwatkins9609
10 ай бұрын
Any idea if or when Tesla Insurance is going to operate in the UK? Currently in a handful of US states.
@timoliver8940
10 ай бұрын
66 year old max NCB, no points living rural but have postcode for a high risk town - November 2021 Mini Cooper S E EV 10000 miles a year and £199 a year fixed for 3 years with Saga. Also run a 2023 LR Defender 90 3.0ltr diesel - Saga refused to cover it, NFU in March 23 wanted £470 pa (£10pa more than I was paying on my 2020 2.0lt diesel 110, the 2023 90 cost £11000 more) and I have off road use coverage too. NFU refused to cover the Mini!
@RB-lt8kt
10 ай бұрын
It is due to repair costs because VW group and Tesla don't want accident cars on the road as warranty claims will be effected especially the battery which has a pyro fuse inside to kill the high voltage in an accident making the car safe for emergency services. High insurance is also due to insurance companies just ripping us off and people not paying attention while driving (mobile phones is a major issue especially in slow traffic or at traffic lights).I went from an Audi S3 to a Cupra Born and the insyrance was £320 plus £30 to change in July 2022. My renewal a this year was £547 for no reason. On a comparison site I got fully comp for £350 so you need to move insurance each year as there still is NO loyalty from insurance companies. I didn't haggle with my existing insurer I just dropped them for taking the pxxs.
@petergilderdale
10 ай бұрын
Strange choice of cars to compare. Why not like for like. E.g. X3 vs iX3, Peugeot 2008 vs E-2008, Corsa vs Corsa e, etc
@CJMVector321190
10 ай бұрын
To be honest if you insured an 85k tesla vs an 85k premium ICE. Car. Seems insurance is similar. The issue is people see EVs as an everyday car. But if i bought a 2 year old aston martin with depreciation insurance is still very high. It is more insurance using high inflation to stiff us and the fact some EVs are actually premium expensive cars rather than being just EVs.
@michaelgoode9555
10 ай бұрын
I have a couple oc acquaintances who own and fun fhe insurance brokerage locally. We were discussing insurance and they were saying that across the board car insurance has risen by over 50% due to inflation, parts availability and more. A big issue is that because of supply chain issues a car might sit for months and so they write the car off as it is cheaper than giving the customer a hire car for the duration. Also, many insurers are approving using recovered used parts from vehicle dismantlers now. Factors to be considered now.
@srmoll
10 ай бұрын
I changed my car recently from a 2014 Renault Megane Sport Touring Dci to a 2019 Tesla Model 3 Performance, and was expecting to have to pay quite a hefty sum to change the car over on my policy. The Megane's most recent renewal back in June 2023 had cost me £508, which was up about £100 on the year before. I was quite surprised when the insurance company wanted only £230 to change the cover from the Megan to the Model 3. I don't know if this is a factor of it being a transfer of cover from one vehicle to another on the same policy, so I suppose the proof of the pudding will be when it comes to renewing the policy again in June next year. Ultimately though if going from a clapped out 140,000 mile 10 year old diesel estate to a 4 year old, 17,000 mile Model 3 Performance is only about £200 then for some people, the current insurance market can't be all that bad. Probably helped by having maximum no-claims discount and heading towards my 60's!
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