Elite Display
Member
From a business perspective. It's a good way to deter but if someone actually takes out the insurance, the company itself is at a lower level of risk.
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Model-Y Comprehensive Insurance Recommendation
- Thread starter Krushit Patel
- Start date
Winnieblue
Member
I'm posting here because I have a RWD model Y coming soon and I plugged in my details for insurance. $4k annual!
I was gobsmacked. Turned out it's my address causing it. Even a postcode right next to me is $2k less.
What in earth is going on? I live in South West Sydney. This is killing me
I was gobsmacked. Turned out it's my address causing it. Even a postcode right next to me is $2k less.
What in earth is going on? I live in South West Sydney. This is killing me
Midnight Man
Member
Have you tried a few different insurers?I'm posting here because I have a RWD model Y coming soon and I plugged in my details for insurance. $4k annual!
I was gobsmacked. Turned out it's my address causing it. Even a postcode right next to me is $2k less.
What in earth is going on? I live in South West Sydney. This is killing me
Sometimes one or a few will - through their own claims experience - find a particular suburb or area over-represented in vloume of claims, and therefore the rates in that area are increased as a result.
I got a quote to insure my 2016 Model S for $5,673.21 from RACV. And I got quotes for >$7k. $4k is a bargain...
Previously I choose a budget insurance policy (ING) and really regretted this when making an insurance claim, they lied about Tesla authorised repairers being on their official repairer list (should have asked for that in writing), they were terrible in dealing with the claim, terrible at decision making, terrible at getting back to me (I had to keep ringing them to see if there were updates), said said we were not at fault but kept hinting this could change, whole process took almost a year IIRC, etc.
But hard to tell, all car insurance companies have terrible (or few) comments if you look at sites like <Best Car Insurance in 2023 as reviewed by Australian consumers | ProductReview.com.au>.
Previously I choose a budget insurance policy (ING) and really regretted this when making an insurance claim, they lied about Tesla authorised repairers being on their official repairer list (should have asked for that in writing), they were terrible in dealing with the claim, terrible at decision making, terrible at getting back to me (I had to keep ringing them to see if there were updates), said said we were not at fault but kept hinting this could change, whole process took almost a year IIRC, etc.
But hard to tell, all car insurance companies have terrible (or few) comments if you look at sites like <Best Car Insurance in 2023 as reviewed by Australian consumers | ProductReview.com.au>.
Winnieblue
Member
Thanks for the responses. I cannot go through RACV unfortunately but I have managed to find NRMA is quite decently priced due to a no claims discount. If I did make a claim the premium would almost double, so whilst it's not great, it's better than $3.5 - 4k annually.
Here's the kicker. I put in my old address into many of the quotes which is one postcode away from my current location, to see what the price difference would be. The premiums reduced between $1-2k annually. That's insane to me.
It seems my current suburb is just really *sugar* when it comes to insurance claims
Here's the kicker. I put in my old address into many of the quotes which is one postcode away from my current location, to see what the price difference would be. The premiums reduced between $1-2k annually. That's insane to me.
It seems my current suburb is just really *sugar* when it comes to insurance claims
Midnight Man
Member
Winnieblue
Member
Winnieblue
Member
I just want to move out of Sydney. I live in a new housing development area, super quiet and peaceful, but it's considered a part Liverpool. So I'm not surprised is thousands more expensive in insurance...
Midnight Man
Member
Totally off-topic, but we took that plunge (moving out of Sydney) at the end of 2016. I commute 1-2 times a week back into Sydney to work with certain clients, the rest is done remotely. Now that journey is done "on the sun" with the Tesla charged from solar at home.
Couldn't have made a better move, would do it again in a heartbeat.
My experience with Budget Direct has also been shocking. 30 years driving and not a single demerit point. Two claims one at fault and one no fault. The repair was disgusting with orange peel unmatched paint, poor fitting, reverse lights not working. Long list. BD only replied to my complaint after I left a negative review on ProductReview. Eventually they re-fixed the car…. And are now refusing to insure us again. I’m strongly do not recommend Budget Direct.
