Insurance renewal problems?

megamac

megamac

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I've just got a new an MG ZS EV Long Range and my insurance has actually gone down slightly from my previous car which was a three year old Toyota Prius
 
megamac said:
Has anyone here recently had problems renewing their insurance?

Read this article on Apple News from The Guardian, and wonder if any MG drivers are experiencing the issues reported by some Tesla owners. £5K per year insurance??? Surely not…

apple.news

‘The quotes were £5,000 or more’: electric vehicle owners face soaring insurance costs — The Guardian

Drivers who ditched petrol and diesel to help save the planet face huge price rises in premiums
apple.news apple.news
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Saga refused to insure my MG4 because there was too little info on them. Direct Line however transferred my Merc 250e policy and gave me a £90 discount.
 
Here's a conspiracy theory . . . What if the oil industry is "influencing" the insurance industry to raise EV insurance premiums above that of ICE vehicles to make them unattractive?

Hey? Just saying. :)
 
I'm paying about £400 a year, with the car being first insured in mid April. Very long no-claim bonus which wasn't affected by the idiot in the BMW who came out of a side street and wrote off my GTi. (He probably did me a favour.) Also a second driver with a similar long-time clean licence. It will be interesting to see what happens next year.
 
Would point out that this is a general issue linked to inflation = my ICE Mazda 3's insurance went up by 50% this year. But the insurance industry will analyse EV accident repair costs and establish premiums accordingly.
 
Rolfe said:
I'm paying about £400 a year, with the car being first insured in mid April. Very long no-claim bonus which wasn't affected by the idiot in the BMW who came out of a side street and wrote off my GTi. (He probably did me a favour.) Also a second driver with a similar long-time clean licence. It will be interesting to see what happens next year.
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Although the accident was not your fault and insurance paid out, it will affect your next payment. They just work on statistics and if you are involved in a no blame accident, it is still I am afraid counted against you. It's always better where minor costs are involved to try and agree with other party without going through insurance company :(.
 
Robf said:
Although the accident was not your fault and insurance paid out, it will affect your next payment. They just work on statistics and if you are involved in a no blame accident, it is still I am afraid counted against you. It's always better where minor costs are involved to try and agree with other party without going through insurance company :(.
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Not usually possible in a write off situation - also one wants the job done properly unless it's another ding on an old banger
 
And you want to hope that the insurance industry doesn't find out about it, albeit this is unlikely ... check your insurance T&Cs; they'll say that you must inform the insurer, even if you're not making a claim.
 
Initially the other driver wanted to pay privately for the repair and I agreed to that, but he changed his mind when he found out how much it was going to cost. So the insurance had to be involved.

Initially they were going to repair the car but changed their mind when it was taken to the repair garage. I was assured that the incident wouldn't affect my NCB, and so far I've seen no indication that this was a lie.
 
It won't affect your NCB, that's true. It probably will affect the base premium (before discounts) of your renewal. So 75% (example) discount may still apply, but the base premium could markedly increase, just that you'd only see 25% of that increase, but as far as your premium is concerned that might be a 60% increase. :)

Old insurance £1500 base, £375 actual
New insurance £2400 base, £600 actual
 
We're finding insurance quotes around 30-50% more expensive at renewal..... our old policy on an ICE car was transferred to the MG4EV and some money given back to us by that insurer in March 23 when we bought the MG4EV. Now at renewal in October 23 much more expensive for a new 12month policy.
 
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