Tesla Model Y

TMY

https://www.boards.ie/discussion/comment/121822760#Comment_121822760

Did you try 123.ie

whatawaster

https://www.boards.ie/discussion/comment/121822760#Comment_121822760

I am currently with Allianz and paying about €750. They quoted me €950 for the MY.

An Post were €800, 123 were €900 and Aviva refused to quote.

I have 9 years NCB

JOL1

https://www.boards.ie/discussion/comment/121823060#Comment_121823060

The consensus seems to be that at renewal premiums are showing a significant increase for most. In my case it went from 380 --> 605 (60% increase for a renewal date March 2024). Nothing has changed with Driver profile so my guess is that Insurers are reflecting greater experience with cost of claims with Tesla's. I have also tried (onlne) to source alternative quotes and cant get it more competitive and many Comapnys are refusing to give a quote online which is what others have also experienced (Model Y RWD btw)

setanta1984

Sorry if this is obvious, but why would there be any problem getting an insurance quote for a Model Y? Whats different to any other car?

EDIT: posted at the same time as the post above that said "my guess is that Insurers are reflecting greater experience with cost of claims with Tesla's". So its not something obvious I'm missing?

Gumbo

It seems to be just Model Y.

My M3 premium is dropping and so are others on the group.

slave1

You'd imagine the biggest selling car in the world would not be an issue insuring with everyone, defies logic

JOL1

https://www.boards.ie/discussion/comment/121823329#Comment_121823329

more a case of being available but premium reflects perceived risk for high powered cars with expensive repair costs reflecting data points/ experience over the few years since launch.

Comment meant for @slave1

unklerosco

Got insurance with abby autoline, use them for my classic cars so gave them a try. Fbd, 123, insuremy car, and quote devil didn't decline but haven't come back to me since last week with a quote...

Royale with Cheese

I'm with liberty through evinsurance.ie (Power insurance broker's), switched from a Model 3 SR+ to a MYLR last month and paid €35 which I presume is just a standard amendment charge. I got a quick quote out of Allianz there out of interest and it's coming in at €450 for the year which is actually slightly less than I'm currently paying. That's for two drivers in mid to late 30s, no points or claims. Actually putting my wife on the quote reduced the premium by nearly €100, I used to add my parents to my policy years ago before I was married in order to get the premium down.

MojoMaker

I'm hearing that area of use is more important than before. Is that a rural or city quote Royale with Cheese?

Royale with Cheese

Dublin 18

listermint

The 'high powered' stuff is not the reason insurers are loading the premium on the Model Y. Plenty of stuff out there with higher power.

They are loading them because the underwriters statistics are showing the vehicle is costing them more in premium valuations than it used to. I.e people are crashing them and they are more expensive or difficult to repair and or lease hire vehicles whilst vehicle is being repaired is costing money.

It's all down to profit margins and statistics not the torque or HP. Evidently more owners are having tips or being hit into.

yermanthere

And if a Tesla is damaged, parts supply from Tesla is a laborious process.

listermint

https://www.boards.ie/discussion/comment/121824537#Comment_121824537

Minor repairs are probably costing a fortune due to parts supplies or lack there of.

One thing can be sure insurers will use data to bash you and the data is obviously showing problems.

yermanthere

Unfortunately this is the balance to the Tesla sales process. One of the functions of franchised dealers is ordering and stocking parts. And this process is tried and tested regarding waiting times, shipping, delivery and price.

Tesla are unfortunately not in the same space yet.

slave1

https://www.boards.ie/discussion/comment/121824143#Comment_121824143

But that's not the case, I had my Model S and current Model 3 insurance with no issues and my S was way more powerful. Seems to be a model Y "issue"

eagerv

https://www.boards.ie/discussion/comment/121825543#Comment_121825543

I am the same, I probably could not insure a Fiesta any cheaper than my Model 3. Possibly a reason for the Model Y insurance being more expensive is the larger castings of the main body parts.

JOL1

https://www.boards.ie/discussion/comment/121825543#Comment_121825543

Yes comments were in relation to how you described Model Y "the worlds best selling car". The recent experience from many suggests higher premiums are being sought for Model Y (other cars or older quotations are less relevant) and I feel sure it is data relating to the Model Y now that Insurers have built data/experiences with losses. Its hard to think it could be anything else.

TMY

Renewal is coming in slightly lower than last year with 123, model y rwd with low miles and wife on policy

offalyguy25

A mate of mine recommended Its4Women a few years ago to me, and I went with them for my ICE car, as they worked out much cheaper, never mind the name, they insure men and women, and are underwritten by AIG - when I changed to M3 it didn't make much difference, went up by about €30

No harm giving them a try

slave1

For any golfers out there, AIG golfer rate via Golf Ireland is consistently the best for both my M3 and wife's Kona (not a golfer but can still avail of scheme).

In theory you could join the cheapest golf club in Ireland if the cost difference was worth it for insurance

slave1

Did a quick check, cheapest golf membership I could find was €178 a year, the AIG policy is here (may be easier to call and just say you dont have your membership number to hand)...

Your Quote Details (aig.ie)

whatawaster

https://www.boards.ie/discussion/comment/121827023#Comment_121827023

Just tried for a quote there, and it wouldn't give me one online, so I called with my reference and they said it has to go to underwriters because it was flagged.

They will get back to me in 24-48 hours. But doesn't fill me with confidence that I'm going to get a competitive quote back!

slave1

So it's deffo a model Y issue, hopefully you'll get a somewhat competitive quote

MojoMaker

Model Y attracted a lot of buyers from the ranks of older and/or diesel vehicles rather than from existing EVs - Tesla or otherwise.

The MY is a big car, with a poor turning circle, powerful regen braking, and poor front/rear proximity assistance (although personally I find it more than usable).

I'd hazard a guess that in 2023 there has been quite a few incidents of minor impacts, all requiring fixing because hey, it's a new car, and the minor repair process turning out to be longer and more costly than usual as fewer outlets will put their hand up for EV repairs in general.

Part of me feels that a lot of new MY owners were just not ready for the car and didn't adjust confidently.

May not get many people admitting to it though.

whatawaster

https://www.boards.ie/discussion/comment/121827201#Comment_121827201

Update - AIG phoned me just now to say they can't provide a quote due to the vehicle being outside their general acceptance criteria. So it is the Model Y

Blup Blup Blup

https://www.boards.ie/discussion/comment/121828870#Comment_121828870

My MYLR is insured with AIG. Up for renewal in May...

listermint

https://www.boards.ie/discussion/comment/121829054#Comment_121829054

Seems be prepped for significant increases. It's reading like alot of these are trying to get their liabilities down. There's probably an acceptable number of this model vehicle they have settled on and will target to get to via increases and refusals.

Raoul

Would this put you off buying now?

sk8board

i work on car insurance ratings tables on an almost daily basis (not in Ireland, but very much related).

Car insurance quoting is a simple business:

1. risk loading score for the driver
2. risk loading score for the car

if model Y premiums are rising for everyone, it reflects one thing - the higher cost of historical claims. The Y clearly costs more to repair, takes a long time to get parts and repairs done, and renting replacement cars in particular can get very expensive over time. We know these things to be true.

its genuinely that simple.