EV Insurance - Discussion

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Shindig

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#295713 17-Apr-2022 16:24

A thread for all topics relating to EV insurance.

Any specialised EV insurance brokers?
How do the high-street insurers handle a EV quote\claim
Insurance Premium pricing
Bespoke elements not relating to ICE car
If you drive an EV, which insurance company are you with?
Anyone made a claim for a EV?

The little things make the biggest difference.

DjShadow

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#2903238 17-Apr-2022 16:28

Our Leaf is insured with AA Insurance, costs a bit more installment wise than my Mazda 3 but only talking $5 extra a fortnight.

Have had to claim once on it for a new front bumper, seems wreckers have plenty of stock in NZ but in our case the parts had to come ex Japan

CYaBro

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#2903242 17-Apr-2022 17:39

Tower insurance. New MG ZS EV.
Costing about $98 a month.
About the same as we were paying for our ICE car when it was new and similar price to buy.

I got quotes from a few places and were all pretty much the same price.

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Obraik

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#2903244 17-Apr-2022 18:11

I have my Model 3 insured with Star Insurance. Since switching to them in December I've had two claims with them. First was for a stone chip on the front window and the second when someone was caught on the cars camera bouncing their door off mine and denting it. Both were handled without any drama and the excess was waived in both instances (the latter after they saw the video of the incident).

Star Insurance also has a "full replacement" clause where if the car is written off in the first three years from new/first 40,000km then they will replace it with the same model - just make sure you update your insured value if the price of the car is increased since you purchased it or you add on extra accessories/software upgrades

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michaelmurfy

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#2903285 17-Apr-2022 21:55

I went with Star Insurance for my Model 3 Long Range.

Reason being - they were the of the more affordable providers, had good reputation and also gave me full glass cover, replacement vehicle guarantee as well as rental car cover too. I compared every provider when getting the Tesla.

I actually need to make a claim for some stone chips to the windscreen but don't see this being any issue. Only downside with Star though is you're better to pay a year up-front else you're paying quite a bit extra from my experience. They also don't work off market value but instead go via agreed value unless if you advise them otherwise.

Previously I was with Vero Insurance via ANZ but got caught out because they didn't have rental car cover (something I swore I had) and also they rather silently changed my glass cover to only cover repairs, not replacement catching me out also. I seriously wasn't impressed with them.

Also good reminder @Obraik - I need to get in touch with Star to raise the insurance on my car. I seriously never expected to have to do that!

Michael Murphy | https://murfy.nz
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Opinions are my own and not the views of my employer.

Shindig

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#2903372 18-Apr-2022 08:14

Thank you for the replies so far, going to check out Star Insurance

The little things make the biggest difference.

RUKI

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#2903465 18-Apr-2022 12:04

Nuances:
Use Tower or AA as example.
I also talked to State and two others, rendered them all useless.
1) re: Agreed price (or the price of brand new) - they only do that for first 2 years since brand new. Nobody seems to insure to agreed price even if your car is making <3000kms p.a. after 2 years.
Pathetic practice as when your NZ New car would be 3-5 year old they would estimate it's value based on second hand junk brought from Japan with clocked ODO and based on Trademe prices. E.g. what really worth $50k they would insure for max $30k as an example.
2) Glass cover. They all Do Not offer genuine glass replacement, but rather cheap made in Chine aftermarket crap. Beware of the "fine print" - about anything attached to the glass - which could be not covered. Modern cars equipped with front facing radar/camera attached to the glass may be not covered in reality and you would have difficult conversations (with AA as example) for them refusing to put in writing that such systems are covered and that genuine glass will be used.

Generally I found Insurance business being a scam based on multiple stories I've read in social media.
Hence drive carefully, consider your $1k of Insurance premium as a waste you can afford (if you can afford it) and change your car to the brand new one every 2 years if you can afford it....otherwise just consider 3-rd party insurance as a must have.

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