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Ev car insurance

duberry

I bought an ev recently. Great to drive and suits my lifestyle.

I'm lucky that there are plenty of local fast charging stations close to my home. And I can charge at home.

I got renewal notice for insurance and noticed quite an increase. Apparantly iinsurers load premiums for EVs. Where is the incentive?

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witnessmenow

https://www.boards.ie/discussion/comment/123849347#Comment_123849347

When I moved from a 08 diesel to a 221 EV with Liberty a couple of years ago there was no charge, although I only had a month or two left on the policy. This move was with Alliance, I guess different providers have bigger fees for moving.

Both our car policies are with Alliance, definitely wasn't happy with the additional charge so will be extra motivated to move from them at time of renewal!

magicbastarder

yeah - it was €20 more expensive to change the car on the phone than it is online, but i don't know how much of a one off 'policy modification' fee is baked in too. the last time i did it (going from an octavia to an octavia, with much more time left on the policy than that) the cost was minimal IIRC.

witnessmenow

https://www.boards.ie/discussion/comment/123849153#Comment_123849153

We changed insurance from one diesel car to another 2 months into a policy and the original cost of the policy + what they were charging to change was E100 more expensive than the online quote with the same company for the year. (As in the original policy was E400, they wanted E200 to change, but a quote for the year was E500) so hopefully it doesn't work out as expensive as your thinking.

This was moving from a 14 year old to a 13 year old car, small increase in value but it was a 7 seater with a bigger engine so I wasn't surprised the insurance went up, but I was surprised by the cost of the change over as I had done the online quote to check how much insurance would be before we bought the car.

Del2005

All insurance is going up. My Mothers old ICE doubled and as it's 22 years old no where else would give reasonable quotes. I got my renewal on my EV and it doubled, but I managed to get it for a few hundred more in the end by checking every insurance company I can find.

Do 1 hours work annually for each of your insurance policies and services renewals, it can save you hundreds or thousands every year.

893bet

Moved from 2017 XE to a 25 model 3 and mine came down.

Insurance risk can be very car specific. OP which car did you get?

AndyBoBandy

https://www.boards.ie/discussion/2058419261/ev-car-insurance

I'm lucky that there are plenty of local fast charging stations close to my home. And I can charge at home.

What's the point in having loads of (expensive) fast chargers local to you when you can charge at home for a fraction of the cost? Unless maybe you are a taxi driver?

It's far away from your home (beyond home range) where you need the fast chargers, not close to your home!!

Merrion

My insurance halved when I went from a diesel to an EV - apparently one of the biggest loss item for insurers at the moment is theft of catalytic converters and EVs don't have them.

magicbastarder

going from a 2012 octavia to a three year old battery kona - insurance company charging approx €80 extra to change the car for the remaining 100 or so days on the policy.

i think i paid about €450 for the policy at last renewal. this would push it to well over €700 for a year.

zg3409

Insurance companies penalize you on renewal. You need to ship around aggressively and haggle each time. I moved insurers twice in one year as I changed address and they attempted to screw me. Twice. Luckily I was with chill and they helped switch with no effort. I also make up magic quotes which they "match" to save me moving company.

I shop around every time, similar with broadband & electric, gas, tv etc.

duberry

Maybe try a broker or bonkers, chill etc

NIMAN

My ev and hybrid insurances are reasonably priced. Just got renewal on hybrid for €416.

Full ev last year was €360. Had to add €40 to change from Leaf to ID3

Fionn

Pretty annoyed by this too, - new EV since February, there was no increase at changeover with 7 months to go.

Redclick were €345 now looking for €628 - clean liccense, no points, no claims etc.

if I cant get reasonable insurance will consider selling it and get an ICE, or maybe forget about a car altogether!

This is pure gouging!

Anyone recommend a alternative insurance company???

GerardKeating

https://www.boards.ie/discussion/comment/123685936#Comment_123685936

Exactly, once you have decided on a car, get quotes from a few companies before finally signing the deal on the car.

duberry

Well, I'd have assumed to encourage us to drive ev it would not be a rip off

As has been said before, the best car you can have is the one you have now, be it petrol, diesel, vegetable oil, hybrid or electric.

I wonder are the green party and other save the planet types aware of this fleeting.

Doodah7

Do people not check what their insurance is likely to be with a new car before buying it? I always have done and factor it into the cost to change if necessary.

duberry

Let's let Markus respond.

But I reckon the people in power don't reckon on this.

Either they aren't aware or something more sinister

MarcusMaximus

Yeah, not good. My renewal is coming up - first year for my late 2017 Leaf purchased last December. Premium is up €200 from last year. Loading for EV’s? Agreed, makes no sense.

@duberry do you mean incentive for us owners or for the insurance companies?

Oscar_Madison

https://www.boards.ie/discussion/comment/123621727#Comment_123621727

I mean, a quote of 1700 is essentially saying “we don’t want your EV business” - I wonder is this going to snowball soon - will insurance companies start saying repairs to EVs are either impossible or too costly hence a loading?
It makes no sense to me at all but looks like there are car insurance clouds on the horizon in terms of EV quotes

Marty Bird

https://www.boards.ie/discussion/comment/123621689#Comment_123621689

I’m 45 completely claims free and zero penalty points. I was very surprised with quotes I got back. Some would not even give me a quote.

duberry

Yeah . Got 2018 leaf last year and allowing for self made alterations to my policy this year its costing me €580, only driver fully comp.

You only become aware when it's too late.

Again, where's the incentive.

Oscar_Madison

https://www.boards.ie/discussion/comment/123621661#Comment_123621661

Given your 450 on the 2.0 diesel you’re obviously not a youngster starting out and also doesn’t appear you’re carrying penalty points or convictions - so that’s frightening quotes for an EV

Marty Bird

https://www.boards.ie/discussion/comment/123621625#Comment_123621625

I hear ya! Last year when I changed to EV premium went from €450 on 2.0lt Diesel to €1050 for the EV.

I did mange to get it down to €650. Changed to a newer EV this year and I checked with my original insurer ringing around for quotes €1700 they wanted.

Again I managed to get it for €750. Crazy prices for some alright.

duberry

Nice one

Buddy Bubs

They didn't load me, I'm paying somewhere in the 400s