David was shocked when the insurance on his Tesla Model Y came up for renewal, and Aviva refused to cover him again, while several other brands turned him away. When David did secure a new deal, the annual cost rocketed from £1,200 to more than £5,000…
“I am a member of a Tesla U.K. owners forum, and lots of other people seem to be having the same issue.” In the Facebook group, members share stories of horror renewal quotes, with increases ranging from 60% (up to £1,100) to a staggering 940% (a jump from £447 to £4,661, according to a screen grab shared by one driver)…
It comes as all motorists face soaring insurance costs…However, this average masks bigger increases for electric car owners, according to Confused.com. Its figures, derived from quotes, show that insurance premiums for electric vehicles are 72% – or £402 – higher than this time last year, at a typical £959. Meanwhile, for petrol and diesel car drivers, the increase is 29%, or £192, taking the figure to £848…
Analysts say claims costs are 25% higher for electric cars, and that they also take about 14% longer to repair than a diesel or petrol equivalent.
DB2