Hi guys, I’m getting quotes for $2k plus premiums
BYD Car, similar premium on the non performance. Paid $500-$600 premiums for many years on $40k Toyotas
Over 40s female driver - no fines, no accidents or claims and low crime suburb, $1k excess, $70k market value. Even after novated lease tax savings this is more than I want to pay since I’ll be paying full freight once I get off the lease
Has anyone had success in insuring theirs for less and with who?
Thanks
Curious what is premium for a tesla model s
No need to be curious, you can find yourself, just pick a company and plug in your info.
EVs are issued economical write offs a lot easier than ICE vehicles. Not many repair centers want to touch them especially if the battery and associated systems have been compromised. Therefore you pay more for the privilege of owning an EV.
Yep. Only a scam if your not part of it
Don't worry, they will soon turn it into a scam even if you are part of it.
EV registration surcharge to recoup the lost fuel excise? To maintain the roads, of course.
Paid $500-600 premiums for many years on 40k Toyotas
Recently!?
I’m getting quotes for 2k plus premiums
Sounds about right for a BYD
Have recently done a quote for a $40k Toyota?
Yes 3 months ago
My musk-mobile costs about 1550 a year through NRMA. Was about 800 a year when I bought it.
Close… mine is RHD.
$800 a year to suck everyone in then it is like a lifetime of excess profits.
I paid 3.6k on my Atto, but its covered for rideshare.
I've found Hollard Insurance resellers (Commbank/Woolworths/Real) have the best pricing for EVs for the details I plug in. I have not had to deal with a claim with them though and most review sites sound like it is a diabolical process.
Thanks
Real insurance came in at $1550.
which companies where giving you 500-600 for your 40k toyotas? am $500 for a 15 yo corolla, zero claims, 50yo driver, $750 excess…looks like I have been overpaying
Bingle and Gio 1 k excess
New model
New car insurance is more than for a 15yo car. Brand new Corolla ZR Hybrid $43k $950, $1k excess.
I just did a quote for a BYD Seal Performance. 63yo driver. No Claims. No suspensions. Inner west secure garage.
NRMA $2095.
It's part of the "EVs are cheaper to run" fallacy. Your case not helped by choosing the Performance model.
I just did another quote for a BYD Shark 6 and it's the same price as my Pajero Sport which is insured for $25k less than the BYD's value
It's part of the "EVs are cheaper to run" fallacy
No necessarily true but the numbers need to be worked on bigly.
It is like the Tesla model 3 is cheaper than a Camry argument from the WA Tesla owners association. The biggest plot hole I could tell was the fact that they think residual values will hold up. They didn't include cost of tires consumed (even though tires not changed) and even if service on demand you need to attribute some of the cost.
You see none of those spreadsheets appearing again. Mostly focused on cost of charging being cheap at home.
The Leapmotor C10 is like $500 per year to service and I'm like what is going on here. If you look at cost of insurance and service you could basically run a Camry (fuel and insurance for the year assuming on 12k/km)
"BYD Car"
"70k market vale"
The world has gone mad
.
No just mad about having to pay $2k insurance for a $70k car. It is like the argument where people buy a Tesla and complain about price of tires.
Then they are first in with the "I charge for free with solar" they get really unhappy when I ask about the "free solar deal" I don't want an EV or pay for the panels. I just want the "free" thing.
You actually need to check total cost of ownership and whether you can swallow it.
Please refer to the question. Who cares what u reckon
Was talking to Nugs.
If I was to answer your question I would have put it as an independent post.
You new to the internet?
I guess I hit a nerve. You seriously don't think they size you up based on what you drive and charge you accordingly?
Can we keep this discussion to insurance related quotes and not ice vs electric, apple or Samsung, trump vs musk or what ever nonsense comes to mind.
Thanks
You must be new to the internet and forums. FFS
I’m not. Just want to remind randoms that their boring regurgitation is not what I’m after.
Not my fault their partners/kids don’t give them attention
If you want to moderate the replies then you'll need to start your own forum board.
Insurance quote is based on risk to the insurer, not on government policies or subsidies.
The risk is divided in third party risk (damage to others) and comprehensive part risk (damage to your vehicle).
Risk to others is pretty much the same with you driving your ICE Toyota or your new EV BYD.
So the difference in premium has to be due to the risk for damage to your vehicle. So it must be a lot more risky to insure the EV BYD because it costs a lot more to repair, it gets written off more easily, there is some added risk of fire (this will also affect civil liability and risk to others).
Risk to others is pretty much the same with you driving your ICE Toyota or your new EV BYD.
I might also add this includes the potential damage to party and property.
Unfortunately with people driving more expensive cars even if you drive a cheap car your insurance is going up.
I got a 20 year old car that would definitely be a write off in a crash with 5k/km distance allowance. I used to pay like $400 a year now it is like $700. The operator at Shannons basically said… your car would be a write off in any incident so we'll probably give you a cheque for $2k and that is it. I am not insured with Shannons.
Interesting. I've got a couple of cars with Shannon's and market value wasn't an option, only agreed value.
@MS Paint: Even if I do agreed value it is low. Not yet a classic and prices not on other side of the "J" curve.
2 k for a car. Thats cheaper than my insurance. I think you’re on the wrong forum
An electric car is not simply an ICE vehicle with a different energy source. They are Apples and Oranges.
Elecric cars cost more to repair, and are easy to write off when a big shunt causes battery damage.
Therefore they cost more to insure.
Just put aside some of the cash you save from not buying petrol (and the associated fuel tax excise) to offset the extra cost of the insurance.
Have you tried AAMI?
My 2023 BYD Dolphin Premium - a much cheaper model than yours - is less than $1000 - just renewed
Will do.
Same boat as you, please note some cars offer new card replacement for the first 2 years (or lifetime) so keep that in mind when you compare quotes (don't just compare the price - I'd recommend getting a spreadsheet going with Excess, Any Choice Repairer and New Car Replacement).
For EVs, I'd recommend checking Allianz, NRMA, QBE
What type of car, you need to search yourself and compare.
40k Toyota premium != 70k euro/electic car premium