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EV insurance prices

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  • 11-04-2017 1:16pm
    #1
    isnottheword
    Registered Users Posts: 1,087 ✭✭✭


    I guess this can be subjective but generally speaking, I think EV drivers should be getting that much better of a deal than ICE (given that we have to drive slower generally - I know that's the way it's working out for me!).

    Driver details
    Driving 20 years; Full Irish license.
    5 points on license (both speeding - acquired just shy of 3 years ago - so will have dropped off my record by the end of July).
    50% no claims (5 years accident free).
    Car kept on drive - tumbleweed west of ireland town - so whatever classification they use for theft, it's got to be one of the lowest in the country.
    Mileage : 20,000KM/year
    Car Valuation : 10,000 euro.
    Car : 141 Leaf Acenta
    Quotes include full NCD protection cover (not to be confused with 'step back').

    FBD
    Quote for third party only ( - no fire, theft, etc.) = €651.11
    (not sure right now of windscreen cover, excess or breakdown cover - will update this post when I have those details).

    ***Blue Insurance
    Third Party only = €570
    Fully Comp => €655 (with full ncb protection, 250 excess, homestart/breakdown assist, w'screen cover(30 excess), 3rd party drive on other vehicles). Excess 250.
    They used to be able to do 2 years insurance at a discount but the underwriter for that product has pulled out of the market (still possible with home insurance).
    Aviva
    Will only quote drivers with a max of 4 points! That's their perogative but I think it's ridiculous. 1 speeding ticket will get you 3 points. It's very easy to get 2 tickets over the space of 3 years. They're cherry picking their business.
    Zurich
    Fully Comp = €613.15; 3rd Party Fire n Theft = €613.40 (TPFT is 25cents more expensive! - go figure).
    Full breakdown cover + homestart; Cover for all window panes; Excess = €250.
    Axa
    Fully Comp with NCB protection, excess of 250, ability to drive other cars 3rd party & breakdown assist = €1,270!
    Same deal on TPFT is €1,150.
    He said they apply a 35% loading for the penalty points. They did say that they could do better if I was adding a partner or spouse (but they had to have their own car!).
    25plus.ie
    Fully Comp with NCB protection, excess of 300, ability to drive other cars 3rd party. => €741
    No breakdown assist. No windscreen cover.
    AIG (not insuring EV's)
    Gave them all the details and they came back with this;
    "The Vehicle Model is unacceptable. However, we can send you out a proposal form, you can send it back in to us and we may consider insuring you on that basis - that will take 12 days!"
    My interpretation of that is that AIG have not even considered how they should insure EV vehicles yet OR for some bizarre reason, they're not interested in the business at this point in time.
    Liberty Insurance
    Fully comp = 890 euro. Excess = 500 euro. Includes protected NCB, windscreen cover, breakdown cover.
    123.ie
    Wouldn't quote as the 'number of penalty points is beyond their acceptance criteria). The ruddy points (5 of them) will all be gone by the end of July.
    AA Insurance
    Fully Comp. = €1,716.95. This does NOT include full NCB protection (nor does it incorporate roll-back).
    Allianz
    Fully Comp. = 857.77 euro. TPFT = 830.61 euro. Excess = 250 euro; Windscreen cover will cost an additional 17 euro; Breakdown Assist will cost another 19 euro; Driving other cars (Third party) will cost an additional 8.54 euro.
    Cornhill Insurance
    Fully Comp. => €760
    TPFT => €760
    **futureinsurance.ie
    Fully Comp : €565
    Excess = €250; Breakdown Assistance; Full NCB Protection; Windscreen cover; 3rd Party cover on driving other cars; Cover on damage to locks. Policy underwritten by Zurich.

    Had breakdown cover; cover on replacing locks; €250 excess; 3rd party use of other vehicles; Full NCB protection.

    ** = Cheapest Quote so far for fully comp.
    *** = Cheapest Quote so far for 3rd Party, Fire and Theft (TPFT)


«134567

Comments

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    #2
    Water John
    Registered Users Posts: 21,147 ✭✭✭✭Water John


    There is a deal for EV with Zurich, I think. Its on one of the threads.
    PM Calahonda.


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    #3
    Water John
    Registered Users Posts: 21,147 ✭✭✭✭Water John


    Paid insurance: €338 fully comp with no loss of NCB for two claims over 3 years vs €478 turd party on a 20 year old
    Paid road tax €120 vs €710

    This is from Calahonda52. an earlier post of his.

    Its from the thread he set up;
    http://www.boards.ie/vbulletin/showthread.php?t=2057712348


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    #4
    KCross
    Registered Users Posts: 12,078 ✭✭✭✭KCross


    Paid €349 in Jan 2017 for Full Comp, Full bonus protection and includes breakdown assist and windscreen cover and my wife as a named driver. It was for a 151 Leaf.

    http://www.zurichinsurance.ie/car-insurance/electric-car-insurance.htm


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    #5
    Soarer
    Registered Users Posts: 8,865 ✭✭✭Soarer


    I'm due a refund of €23 and change from now until June when my current policy is up.

    From June, I'm paying €295 full comp. with all protections.
    40 years old with 1000 years accident free driving and wife as a named driver.


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    #6
    punisher5112
    Registered Users Posts: 24,647 ✭✭✭✭punisher5112


    Soarer wrote: »
    I'm due a refund of €23 and change from now until June when my current policy is up.

    From June, I'm paying €295 full comp. with all protections.
    40 years old with 1000 years accident free driving and wife as a named driver.

    1000 that all;-)


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    #7
    Soarer
    Registered Users Posts: 8,865 ✭✭✭Soarer


    punisher5112 wrote: »
    1000 that all;-)

    That's what it feels like anyway! :rolleyes:

    The Leaf is breathing life back into me though! ;)


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    #8
    Water John
    Registered Users Posts: 21,147 ✭✭✭✭Water John


    Methuselah. Maybe reincarnation, 40 years old in this life.


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    #9
    Ongo Goblogian
    Registered Users Posts: 45 ✭Ongo Goblogian


    isnottheword wrote: »
    I guess this can be subjective but generally speaking, I think EV drivers should be getting that much better of a deal than ICE (given that we have to drive slower generally - I know that's the way it's working out for me!).

    Sounds like you already are to be honest...
    (ICE driver)
    Full Irish License.
    No Points.
    Full no claims, listed as 67% >10 years.
    Value of ICE vehicle at €15,000
    Most fully comp quotes were coming in at more than €900 on renewal and third party only about 100 cheaper.
    Ended up paying Allianz just shy of €750,Literally the cheapest Fully comp I got quoted for.
    Last year's was only €480 fully comp with 25 plus, this year it ballooned to almost €800. As stated, no claims, perfect record, car is valued less, price almost doubles. Only in Ireland...


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    #10
    unkel
    Registered Users Posts: 64,946 ✭✭✭✭unkel


    Getting a refund of about €100 for the 10 months until renewal after switching from a €500 banger to a brand new €30k EV :D

    Expecting a premium of around €400 next year (in Dublin), Full NCB, no claim ever made, full Irish license 30+ years (wife about 12 years)


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    #11
    DrPhilG
    Registered Users Posts: 12,224 ✭✭✭✭DrPhilG


    Can I just say how much I hate insurance companies, and how much more I hate lying thieving injury faking scumbags?

    When I first bought my Leaf my insurance was €500.

    Last year it was €820.

    This year I just renewed for €1230.


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    #12
    Water John
    Registered Users Posts: 21,147 ✭✭✭✭Water John


    The other problem is when your ins co decides to settle and you end up paying.


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    #13
    goz83
    Registered Users Posts: 8,034 ✭✭✭goz83


    They always go for the cheapest option they see at the time. But don't believe them when they say it's claims that are pushing up premiums. Have claim amounts doubled and tripled in the last couple of years?

    Sure they even admitted that fraud accounts to about €50 added to each policy. They were left with no way of answering the reason for the huge hikes when asked at the PAC.


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    #14
    isnottheword
    Registered Users Posts: 1,087 ✭✭✭isnottheword


    DrPhilG wrote: »
    Can I just say how much I hate insurance companies, and how much more I hate lying thieving injury faking scumbags?

    When I first bought my Leaf my insurance was €500.

    Last year it was €820.

    This year I just renewed for €1230.

    What goz83 said. Don't believe for a second that the prices you are paying are exclusively the cause of the 'lying, thieving scumbags' and that premiums are proportionate to claims.

    We have numerous cosy cartels. The insurance industry is one - but our legal friends are the other. Do you think they want their evergreen supply of very handy business destroyed? The legal pro's earn as much out of it as the claimant. The Injuries board was brought in with a view towards simplying the process and reducing costs. However, it turned out to be a sop towards the Insurance Industry. The powers that be can see to it that PIAB settlements are what they should be and that legal recourse is unlikely to achieve more. Take the legal fees out of the equation for starters and we would ALL be getting reduced premiums! However, that cartel is so embedded within the irish 'establishment' that you will be waiting for that to happen.

    Apologies - I'm veering off topic - purpose of the thread was to give people an indication of insurance rates on an EV (and for them to pitch in with what they've achieved in insuring an EV).


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    #15
    punisher5112
    Registered Users Posts: 24,647 ✭✭✭✭punisher5112


    Main reason which the insurance companies won't say is that they were undercutting each other and premiums couldn't pay for amount that was been awarded.

    Cheap van insurance such as €300 for the year in a vehicle much more riskier and lot more likely to be involved in a collision due to number of hours driving etc. They were nearly giving policies away.

    Now they have to have so much in a pool to cover claims if so many a % were to claim or be claimed off....


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    #16
    unkel
    Registered Users Posts: 64,946 ✭✭✭✭unkel


    There's a lot of what punisher is saying. At the height of the boom, Quinn insurance did not employ any actuaries. Not one! Cowboys they were. With your man himself just charging premiums that were too low, just to get cash inflow and then taking the money. No cover for the risk, no investment returns (this business typically generates as least as much as the profitability of the insurance business itself). Only in Ireland. How that man is not in jail for 100 years is beyond me.


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    #17
    isnottheword
    Registered Users Posts: 1,087 ✭✭✭isnottheword


    unkel wrote: »
    There's a lot of what punisher is saying. At the height of the boom, Quinn insurance did not employ any actuaries. Not one! Cowboys they were. With your man himself just charging premiums that were too low, just to get cash inflow and then taking the money. No cover for the risk, no investment returns (this business typically generates as least as much as the profitability of the insurance business itself). Only in Ireland. How that man is not in jail for 100 years is beyond me.

    No expert by any stretch of the imagination on the insurance industry. However, Quinn Insurance went under for other reasons did it not? I know that during the tiger years (and before), Quinn was the ONLY insurer that I wouldn't dare get a quotation from. Yes, they did offer very competitive rates on the face of it - and particularly so for younger drivers. However, they had a hell of a reputation of playing hard ball when it came to paying out. They would fight tooth and nail to minimise their requirement to pay out (I know by and large that's the goal of all insurers but Quinn took it to a new level).
    Generally speaking I always place price as the first consideration when buying something but despite what appeared good insurance rates on the face of it, I would never touch them with a bargepole.


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    #18
    unkel
    Registered Users Posts: 64,946 ✭✭✭✭unkel


    isnottheword wrote: »
    I know that during the tiger years (and before), Quinn was the ONLY insurer that I wouldn't dare get a quotation from. Yes, they did offer very competitive rates on the face of it - and particularly so for younger drivers. However, they had a hell of a reputation of playing hard ball when it came to paying out. They would fight tooth and nail to minimise their requirement to pay out (I know by and large that's the goal of all insurers but Quinn took it to a new level).
    Generally speaking I always place price as the first consideration when buying something but despite what appeared good insurance rates on the face of it, I would never touch them with a bargepole.

    Same here. Wouldn't touch them either.


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    #19
    goz83
    Registered Users Posts: 8,034 ✭✭✭goz83


    I'm insured with Liberty. Thankfully I have found them quite good over the years and only claims were a windscreen replacement when a stone cracked my window. A side window replacement after some scrote smashed it to nick a disabled driver badge. And a tow to the garage when a banger I had wouldn't start. I've had my insurance with them for maybe 70% of the time.

    I got a small refund when I moved my insurance to the Leaf too.


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    #20
    sam7777
    Registered Users Posts: 24 ✭sam7777


    i was charged 198 euro extra,by chill when moving from a 131 octavia 1.2,to a 151 leaf,with 7 months remaining


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    #21
    isnottheword
    Registered Users Posts: 1,087 ✭✭✭isnottheword


    sam7777 wrote: »
    i was charged 198 euro extra,by chill when moving from a 131 octavia 1.2,to a 151 leaf,with 7 months remaining
    Yes, the bigger aggregate brokers tend to do this. That's why I usually steer clear. I got a quote from 123.ie and chill (although I think chill wouldn't offer a quote in this instance) purely for comparative purposes. Unless they were considerably cheaper, I wouldn't go with them as just like your example, they tend to be inflexible/or it will cost you in order for them to be flexible.


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    #22
    Shefwedfan
    Closed Accounts Posts: 18,958 ✭✭✭✭Shefwedfan


    It will be fun when I need to renew. Last year most companies would not quote me for 2ltr diesel car. I was on company car and when I joined scheme I was told my name would be on policy so no issue when I leave. Of course the person that told me that left company, then the company negotiated the policy so they insured the car and not the person driving it. This meant I wasn't a named person on the driver. So even thou I am in 30's with no points. No crash's etc they would not insure me. Even my old insurance company before I moved said I was outside of there criteria. F**king joke

    Lucky I was named driver on wife policy but had to go back 9 years and Blue insurance gave me insurance. I now have the grand total of 1 year NCB and still no penalty points. Will it be any easier to price around with electric car. Policy is due up end of next month I think so must try around.


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    #23
    unkel
    Registered Users Posts: 64,946 ✭✭✭✭unkel


    Letter in the post today, €142 refund (for the remaining 10 months) going from banger to €30k brand new EV :)


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    #24
    goz83
    Registered Users Posts: 8,034 ✭✭✭goz83


    unkel wrote: »
    Letter in the post today, €142 refund (for the remaining 10 months) going from banger to €30k brand new EV :)

    Bring the family for a day out in the Ioniq. You'll need the money for fuel....oh wait :D


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    #25
    isnottheword
    Registered Users Posts: 1,087 ✭✭✭isnottheword


    Soarer wrote: »
    From June, I'm paying €295 full comp. with all protections.
    40 years old with 1000 years accident free driving and wife as a named driver.
    What insurer is that with, Soarer?


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    #26
    DrPhilG
    Registered Users Posts: 12,224 ✭✭✭✭DrPhilG


    isnottheword wrote: »
    What goz83 said. Don't believe for a second that the prices you are paying are exclusively the cause of the 'lying, thieving scumbags' and that premiums are proportionate to claims.

    I don't belive for a second that premiums are proportional to claims.

    But if it wasn't for the lying thieving injury faking scumbag, I would be in a position to shop around for a better deal and I would still have full no claims discount.

    Because of the claim I am 2 points back down the NCB scale and most other insurers won't touch me because I've had a claim within 3 years.


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    #27
    isnottheword
    Registered Users Posts: 1,087 ✭✭✭isnottheword


    DrPhilG wrote: »
    But if it wasn't for the lying thieving injury faking scumbag, I would be in a position to shop around for a better deal and I would still have full no claims discount. Because of the claim I am 2 points back down the NCB scale and most other insurers won't touch me because I've had a claim within 3 years.
    Ah, so someone has put in a claim against you but you believe that you were not in the wrong OR you believe they are bigging up the value of the claim (via feigned or exaggerated personal injury)?

    I always buy full ncb protection. I know that kind of locks you in to the one company for a few years but been in that situation twice with FBD and to their credit (with the exception of year 5 last year ....although all the insurance companies were gouging last year), they offered me regular rates (i checked to be sure).


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    #28
    Soarer
    Registered Users Posts: 8,865 ✭✭✭Soarer


    isnottheword wrote: »
    What insurer is that with, Soarer?

    It's with Allianz I think.

    It's through a work scheme, which is fairly excellent to be fair. That also covers all travel for work, and interest free deductions from salary.
    I'm also a member of the Institute of Advanced Motorists, which gives me a further discount.

    So it's not exactly a fair comparison, but it's what I'm paying. :)


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    #29
    unkel
    Registered Users Posts: 64,946 ✭✭✭✭unkel


    I'm with Allianz too. Just the standard fully comp insurance arranged through a broker. So this year it's about €450 or so, should be less next year after shopping around


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    #30
    DrPhilG
    Registered Users Posts: 12,224 ✭✭✭✭DrPhilG


    isnottheword wrote: »
    Ah, so someone has put in a claim against you but you believe that you were not in the wrong OR you believe they are bigging up the value of the claim (via feigned or exaggerated personal injury)

    I was in the wrong, but I was doing maybe 5mph reversing in a car park. The other party had no personal injuries. Of course whiplash is hard to prove or disprove but I have friends who work with this person and without going into detail, I know she was not hurt.

    She inspected the car with me and was perfectly happy to keep things off the insurance, even called me the next day with a quote of £500 for the damage to the car.

    2 days later the communication went dead and a few days later the solicitor's letter landed.

    She got £1400 for the car damage and £5k for personal injuries.

    With any luck she will have bought herself a nice big celebration meal with her stolen £5k and then choked on it.


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    #31
    isnottheword
    Registered Users Posts: 1,087 ✭✭✭isnottheword


    That sucks DrPhilG. She doesn't have much ambition - selling her soul for a measily €5000. The insurance company would have notified you of the full cost of the claim - did the €5k include legal costs - or was that another €5k?
    I'm not suggesting for a second that someone should consider putting in a more substantial claim but I don't think it reflects well on the intelligence and of course morals of the other party.

    This is why I always buy protected NCB. If you spend enough hours on the road (good driver or bad), you're likely to end up in some level of bother at some stage.


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