Electric Car Insurance: are they REALLY more expensive? Tesla/EVs v ICE compared. What do you pay? 

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.

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.

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

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

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.

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 .

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!

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.

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.

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.

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.

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.

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.

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.

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 ❤ 👍🏼😉

My renewal for MY was £4k but went on confused and got it back down to what it was before

Thanks for sharing such balance and experience, Richard.

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.

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.

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 👍

Excellent piece of reporting Richard. Really good detail.

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.

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.

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?

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.

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?

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

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).

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.

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..

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!

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)

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.

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.

Great to share this as I think people forget how expensive and fast some of these ev’s are when comparing premiums!

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

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!

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...

I got quotes on same day Aston Martin DB9 £500. And Tesla Model S £1000. Both similar value and performance.

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.

`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

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.

I’m sure it didn’t help that a Range Rover burnt down a multi story car park at Luton Airport 😂😂😂

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.

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!

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.

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+

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

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.

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. 😂😉

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.

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.

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.

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

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…

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.

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 😢

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.

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!

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😮

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

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.

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 🤷🏼‍♂️

We’ve got a Zoe and an MG5 both renewed in the last few months for about £250 each.

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

it is easy for any car to go to the bottom of the compare list and find the highest price and put that in a news headline. every car, costs money and all prices have gone up. and some places just see insurance covering cost so we hike up price of work or do something not really needed. My car increased by £80 a year still near £400 for a hyundai ev 28. But insurance and fuel is mostly the only thing ev need. you don't have big bills for exhaust systems, timing belts and any number of other big jobs.

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)

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.

Great piece Richard. Harsh reality is that in the UK, the car insurance industry is the biggest legalised scam of the last century. Those that are supposed to regulate it don't, it's done on a big pot basis where everyone contributes whereas what should be done given we have the technology to do so is that each individual has an account. For example I've been driving over 30 years and I can count on one finger the number of accidents I have been liable for, 5 fingers the number of accidents I've been involved with. Then look at how much I have paid in insurance during those 30 years, it is way in excess of what damage I have caused. You pay to play, if they did this then a good number of people would recognise how much to costs to drive and would likely reduce the number of people on the roads if the Police then had a zero tolerance approach on uninsured drivers. Compulsory retesting every 4-5 years would also help but that's another debate. As to repair costs they have increased however as you pointed out, I suspect the number of repair shops that can actually repair rather than replace and to a decent standard is dwindling. When more EV's are using all aluminium construction it is a harder material to repair / reshape (because it doesn't have metal memory like steel) so 'approved' body repair centres will just replace. I've recently heard of a Taycan written off because it had rear 3/4 damage and the Porsche approved repair centre wanted to replace the entire pillar / 3/4 section as it is all one part, a £50K estimated repair. The customer bought the car back off the insurers, took it to a repair specialist who reformed the panel (with a lot of heat, time and patience!) and repainted for less than a twentieth of the 'approved' repair shop quote. Insurers don't do the leg work, they have their book, stick to it and there's kick backs. Same with the courtesy cars and let's not start on the personal injury element. But the insurers won't change the model because its profitable regardless of what they say. Until a Government holds the industry accountable year on year price increases will happen. When it prices people off the roads a significant number go uninsured which exacerbates the issue and prices will continue to increase.

Love these videos, I definitely WOULD buy a used car from this man!

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.

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.

Very good info, thank you Richard & Team. Looking at around £930 on an M3P for me (mid 40s).

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.

Good video model 3 LR dual motor last year 25000 miles a year & business last year 529.55 just renewed 833.43

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 😂

Hi all Love the channel, refreshingly real. My insurance (MYLR) seems to have risen by approx 55-60%, seems a common theme. One thing you didn't touch on is the requirement of most insurers to have a TRACKING DEVICE fitted to Teslas. Can anyone give a definitive answer to... "Has the Tesla got a factory fitted TRACKING system and does it have Real Time tracking" as requested by insurance companies? TIA.

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.

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.

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

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

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

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 🤯

I’ve just checked prices & a slower diesel Range Rover is more than 2:46 twice the insurance price as my Tesla model 3

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!

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?

Eventually all body shops and garages will only be dealing in EV’s so hopefully the prices will become more realistic……not !!

I both a 2019 model 3 long range on 69 plate (30,000 miles) in October and before had a 2019 MG ZS EV (24,000 miles). The M3 was about £700 to insure. In July 2022 when I got the MG the insurance was £240, and that had gone up to £290 in July 2023, I also got a quote for it in October to compare the M3 and the cheapest was £396. Before the MG i had Hyundai i40 estate. In November 2021 the insurance was £250, however I had an email from go compare (they still have that cars details on my account) in November this year and the insurance would have £420 with the cheapest. I usual use Compare the Market and Quidco (which then gets about £45 cash back). to find the cheapest price

I think fairer comparisons would be for cars with both IC and Electric drive trains Corsa, 208, ioniq (original version) mini I thinks that's where the fair comparisons are to be found.

2018 Range Rover Velar owner - currently paying £550 per year. Tesla Model 3 and Y quotes coming in at £950+

In the Netherlands I can not insurance a Tesla with my own insurance company, well a different car which to me is very strange but the said it’s because of its power. You can always search for another company.

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.

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.

Good vid I openly etmit im a petrol head. I think prices crossed the bord have been risen. I’ve also realised also you can also get different quotes up and down by asking a insurance comparison site 1hrs difference I put in the exact same details for a car im looking to get and tried it 3x first was £900 the second 1200, then the third time £920 was the best results and happened to be with the same insurance company lol😂. Honestly i did not change anything between my experiment. So obviously im very sus with insurance companies and think they are taking the mick irrelevant to what sort of car you have or like. Thing is it’s not very clear what has true effect sometimes it’s the insurance catorgery or the price and where you keep it or on yourself but it’s never made clear why some times a car in the same catorgry at the same price and age and fairly equal cars can have such a difference on insurance with the same driver.

I've gone from an Audi A3 1.2TFSI 110BHP (Audi '30') Insurance Group 17, first registered in 2016, Insurance Renewal 01/07/23 £281, to an Audi Q4 eTron 40, insurance group 31, first registered Nov-2023, Insurance was £631 from 01/07/24. Q4 is newer, more powerful, and an EV - not sure which of these differences contribute most to the uplift in insurance

Insurance for Model y long range for two people in London with no NCD, clean licences held for over 10 years and no accidents etc is £5.2k! Hoping it goes down a bit with ncd…

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.

Insurance ..Merc GLC deisel £900 , Kia EV6 (0 - 60 , 7 secs) £600 , after recent rises , My new Kodiaq was £400 18 months ago

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.

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.