I don't want it. But partner wants one so better get one of these than a ridiculous Model X.
I've noticed most insurers won't insure however Budget Direct seem to have allowed it. I don't want to buy it and they allow it and then next year the premium goes up to $5k.
Can people share their insurance experiencing with getting their Teslas insured?
It makes sense if the driver also owns $TSLA.
Tesla profit margin is 20%. You pay $1 and get 20c value as a shareholder. They don't even pay dividends. You went to the Elon School of Finance and believed all he said.
This is the guy who wants to tell everyone else to have more children and the world isn't over populated. I guess he needs to make things worse here so people will be inclined to take almost certain death going to Mars.
I'm not interested in divs. Divs are for suckers.
I want price action.
@SBOB: I'm waiting for Elon to 🐦 some 💩 about $TSLA and that causes a scam wick.
The LO will be triggered and a +5.0% or +10.0% bounce.
Elon to 🐦 some 💩 about $TSLA and that causes a scam wick
Elon, illegally manipulating the market and the price of tsla stock ..
No way, unheard of…
It's not illegal unless the SEC charges him.
It's not illegal unless the SEC successfully prosecutes him.
FTFY.
@SBOB: You're talking to someone who drank the Elon Coolaid, went behind the Elon Curtain now a propaganda piece.
Elon Musk is turning into an old ranting billionaire. His talk about Japanese dying out because of low birth rate. He seems to forget there is Japanese people living outside of Japan. Same with Chinese people.
Then there is the possibility of population collapse due to low population. The earth can barely sustain the population there is now he seems to think we can fit more people but he isn't going to start a company call The Population Company. In reality he is just worried there won't be enough customers for Tesla cars and living standards bad enough for people to risk certain death going to Mars.
@SBOB: I call it a chance, a chance to buy it cheaper. I want it to go down further so that I can buy more.
Tesla insurance isn't anymore expensive than your typical $70k car. OP is not telling us something.
I just did a quote on a model 3 performance for myself with RACV ~ $850 (not too shabby)
Yeah exactly. OPs "partner" is probably on P's, severe accident history, young and lives in a high risk area.
Even something like a cheaper WRX can rack up to $3+ if you had all those boxes ticked.
@plmko: I remember getting a $14k quote for a Skyline when I was in my early 20's.. I think that's referred to as a (profanity)-off price.
I just did a quote with RACV and got $1500 for comprehensive insurance. I pretended to be a 38 year old male with clean driving history.
@mapax: Yeah I'm getting about this now. Assuming they have reduced it in the last few months with more EVs or the companies I was quoting from just weren't right. I remember I did the quotes with bingle who now don't insure it at all so it must be that.
@mapax: I similarly did an RACQ quote and got $1,138.94. However, I AM a 39 year old male with a decent recent record, and multiple RACQ policies.
Current motor insurance is also with RACQ for our Hyundai Ioniq 28kwh MY2019 which recently cost $850 to renew. So just under three hundred dollars more. Certainly not five grand :O
Wow! Would love to know what parameters you put in for an $850 premium.
You don't get insurances premium increases for getting red light fines ^__^
And that was my niece.
$TSLA owners can expect the premium to be much higher the more expensive fuel gets.
🧂 level high.
https://duckduckgo.com/?q=tesla+vandalism&t=braveed&iax=imag…
This means more cheap telsas on the market when recession hits.
Are you like 23yo or something.
I don't want it. But partner wants one
whipped. :)
Being whipped is quite 👍 if done correctly,
Can I buy any How Wheels Tesla cars for the kids? These are in my Tesla car price range where I would be happy to spend as I do not want to give too much money to Musk as he already has enough $$$$.
Yep. They even do the cybertruck.
And trust me, even if you buy a "Hot Wheels" Tesla, Bagwhan Musk would still be getting his cut through "royalties/licencing"
Yes, but it's way way less than he would get with a real Tesla.
Wow, very interesting article. Insurance seems like a massive pitfall in owning a Tesla, almost to the extent cancelling out any petrol savings with a hugely expensive insurance premium.
Good article except for…
For example, when our Model 3 was delivered it had a paint defect. Tesla had to engage a third-party panel shop to repair the panel instead of performing this work in-house.
This is not a Tesla problem. If my new Subaru Impreza* has a paint defect on delivery the dealership does not perform the repair. The nearest panel shop with the cheapest quote does.
*I don't have an Impreza
But in the US tesla DOES handle it in-house and they manage the parts and technology difficulties with repairs. It’s all new for your old school ICE panel shop so many don’t want to deal with it. This is a tesla problem because the knowledge and supply chain is lacking. Paint maybe not so bad but a smash repairer could hesitate on principal.
Makes sense, insurance is all risk based and it's not that Teslas are necessarily riskier per se, it's because the risk can't be measured. A lot of the problem isn't that it'll specifically cost more but they have no idea what it will cost, which scares the crap out of insurers.
When I worked in health insurance the actuary boffins knew the cost of every medical procedure, the risk rates of disease and death and could make a pretty good model on how often we'd all get sick and/or die. But if they were told they'd have no idea what it cost to do a heart transplant they'd freak out.
You need to use larger insurers. NRMA, GIO, Shannons, etc. They are about the same to insure as any similar value car, but because there isn't a large body of local knowledge about repair costs, a lot of the smaller / cheaper companies won't touch them. You need to shop around.
Did a quote with Budget Direct and they are more expensive than NRMA.
A few months ago I did it with budget direct and they don't even list tesla, now they do apparently. May not stay that way for long that's the thing.
one problem is due to lack of underwriters..
there aren't many underwriters in Australia anymore. Back in 2019, 60% of market was dominated by these two. So many M&A and acquisitions left the Australian market with very little reason to be competitive. and even without competition insurance market is not making much due to so many natural disasters.
IAG (NRMA, etc)
Suncorp (Suncorp, AAMI, RACQ, etc)
https://www.smh.com.au/business/companies/insurance-giants-b…
https://thenewdaily.com.au/finance/consumer/2018/09/12/woolw…
Rollin Insurance - $78 a month 40 yr old male Gold Coast QLD. Tesla Recommends them. Had a crack in windscreen replaced no issues.
GIO here, 44yr old, good record, $876 a year.
Tesla model 3 long range.
I got $1700
35 year old female driver
no incidents
insured for $75000
Must be the age?
And/or your postcode.
Developing: Tesla to seek investor approval for 3-for-1 stock split https://yhoo.it/3aKBUaA $TSLA
3-for-1 juicy split.
AAMI is best - under $2K & free hire car for unlimited days until car fixed
"There is a significant labour shortage in the automotive industry, and it is getting worse,” …. “There are plenty of trained people ready and willing to repair EVs, but some EV companies will not make their parts available to the aftermarket industry,” FROM THE ARTICLE LINKED ABOVE
Insurance is a profitable business to be in but its hard to make a profit insuring EVs and this wont change as 1) they are not made here, so its all imported 2) our laws on EV are pretty strict, so most are written off at 100% loss to the insurer (like I said, hard to make a profit) ~ 100k car, 5k insurance (over 20 years you have paid 100k) is about the average for lower cars, but not EVs. Hense the problem!
We need laws for ev's, 1) recycling by the seller of the materials for resale or into new parts 2) parts must be made available in AU for 10 years for a new car and not imported 3) EVs with the new tech should be less prone to accidents but alas are often written off due to the cost of any repair, we need fixed price repair deals with new cars like EVs
Model 3 long range, $1100 pa with NRMA for full glass cover and unlimited car hire. About $850 for standard cover.
NRMA cost $763 (after 10% loyalty discount) for my RWD Model 3, incl. glass cover and $2k excess.
Tried few quotes for Model Y RWD
Sydney North shore, Male, 40+, Clean Driving record, uses less than 3 times a week during peak hours
That's a lot of petrol for a Corolla/Camry.
A Tesla makes no financial sense if insurance is that much.