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Insurance UK
- Thread starter hagrid_LDN
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- Ireland United Kingdom
MrBadger
Badger out
Watch out for any cancellation clauses from them. We got stung on a house insurance that was cancelled a few months or so after taking it out. There seemed to be cancellation charges on top of cancellation charges... iirc we lost about 6 months of policy cost in charges and almost would have been better off not bothering to cancel even though we were only a couple of months in.
The only specialist broker insuring is Novo, some people have had good prices from them, others not so much.
Rooster6655
Active Member
Yes they were rubbish and wouldn’t quote then without asking transferred me to some random third party broker, I hadn’t even phoned them in the first place they phoned me
My previous gap insurance provider, gapinsurance.co.uk, offset the start date of the cover to 1year after purchase once I'd confirmed it that the insurer would replace the car with a factory order if it was written off in the first year.
A lot are no longer offering this though, and those that are expect to change it soon, so while you might find a company that does now, a year down the line they might not, and then you are stuffed.
gapinsurance.co.uk only offer "Invoice or Replacement GAP insurance within 3-months of taking delivery"
Also take a look at
GAPinsurance.co.uk: Deferred Start Dates.
The Perils Of New-For-Old Cover. v.2 | GAPinsurance.co.uk Blog
Found this company and seem to be very competitive:
Direct Gap Insurance - UK's No 1 gap insurance
There website state this:
Q - How long can I have owned the vehicle for and still buy the policy?
A - This policy can be purchased at any time.
If you are using the "Finance/Contract Hire" you can purchase any time, otherwise the return to invoice or vehicle replacement is 180 days. As mentioned, it use to be longer, but most of the gap providers are clamping down, so while a company may say x time now, a year later they may not.
totallossgap.co.uk is the cheapest and provide the most gap coverage that I have seen, I believe there's is within 180 days to.
MrBadger
Badger out
Shouldn't the purchase price exclude the government grant? No guarantee that will be around for ever.
Yes it should, you should be specifying the list price minus any discounts. At the end of the day the insurers are only going to pay out the market value (except maybe the first year).
RAC Have the Tesla in selection but will not quote yet.
Just spoke to them (Its a very long auto message to start with to warn you before you actually speak to someone!)
Their system will be updated on the 28th Aug and should hopefully inc the M3 pricing, hence why you can see it in the dropdown.
Just spoke to them (Its a very long auto message to start with to warn you before you actually speak to someone!)
Their system will be updated on the 28th Aug and should hopefully inc the M3 pricing, hence why you can see it in the dropdown.
Think I'm going to have to give in to the fact my M3 isn't going to arrive anytime soon. Issue with this is my car insurance is due for renewal next month... Anyone know of any 'temporary cover' I could get? I've had a quick look and I'm being quoted £500+ for 28 days worth of insurance! That's near enough what I pay a year.
I could take out a new policy on my current car but feel like I might get stung when swapping to the M3.
I could take out a new policy on my current car but feel like I might get stung when swapping to the M3.
MrBadger
Badger out
Take out one with one of the Model 3 insurers then swap car over if/when you get the new one. You can probably get a quote for both at the same time to know what you will be letting yourself in for.
You could take out a regular annual policy and cancel it, but in my experience, cancellation fees can stack up, especially if using a broker - comparison sites are effectively brokers but do not know how they handle cancellations. Another issue may be that your NCD is not freed up in a timely manner so you cannot transfer it to the new policy.
You could take out a regular annual policy and cancel it, but in my experience, cancellation fees can stack up, especially if using a broker - comparison sites are effectively brokers but do not know how they handle cancellations. Another issue may be that your NCD is not freed up in a timely manner so you cannot transfer it to the new policy.
Hi all, First post but I hope it’s useful. I picked up my Model 3 SR+ with 19” 2 days ago. It’s incredible!
I phoned my existing insurer, Privilege, to see how much extra I’d need to pay to switch my car and was pleasantly surprised!
My old car was an A Class Merc and cost £358 to insure, only starting 2 weeks ago. Privilege told me I’d get a partial refund of £56 switching to the Model 3 making it just over £300 to insure!
I’m 34 and have 10 years no claims. The compulsory excesses changed a lot, raising from £100 for the A Class to £600 for the 3 but I’m just pleased with the insurance quote!
Anyway, might be worth trying Privilege!
Hopefully it’s useful!
I phoned my existing insurer, Privilege, to see how much extra I’d need to pay to switch my car and was pleasantly surprised!
My old car was an A Class Merc and cost £358 to insure, only starting 2 weeks ago. Privilege told me I’d get a partial refund of £56 switching to the Model 3 making it just over £300 to insure!
I’m 34 and have 10 years no claims. The compulsory excesses changed a lot, raising from £100 for the A Class to £600 for the 3 but I’m just pleased with the insurance quote!
Anyway, might be worth trying Privilege!
Hopefully it’s useful!
Welcome to the forum! And congratulations on getting your M3.
If you’re not happy with the bigger excess (my combined excess is £850!) you can take out a separate policy to cover your excess up to £1000 for a premium of £40. That’s what I’ve done.
Car Excess Insurance | Save money vs. your add-on policy
Welcome to the forum! And congratulations on getting your M3.
If you’re not happy with the bigger excess (my combined excess is £850!) you can take out a separate policy to cover your excess up to £1000 for a premium of £40. That’s what I’ve done.
Car Excess Insurance | Save money vs. your add-on policy
Thanks for the tip! My voluntary is only £100 so £700 in total but will def take a look!
I did a Direct Line quote a couple of weeks ago but was not able to buy online because their system did not recognise the VRN. As I was due to collect today, I spoke to Tesla 2 days ago and was assured that the VRN would be on the Govt database by yesterday. It wasn't. I was able to get the car insured by phoning Direct Line and asking them to manually add the VRN. I picked up the car this morning and have just checked the Govt database to find that the car is still not showing!
Ordered a M3 on Tuesday, and starting to worry slightly about insurance - It seems that most companies don't quote for Teslas, so I'm thinking I might not be able to transfer my existing policy (which is with AXA). Policy is up for renewal mid November, so maybe I will still be waiting for delivery - but otherwise are there any options other than taking out a 2nd policy with no NCD, then picking up the NCD again in a year's time?
