As some Tesla car owners or potential buyers have discovered, finding Tesla car insurance may not always be easy.
Although this is sometimes attributed to the fact that Tesla is an electric car, in practice the position is rather more complicated.
Some electric vehicle (EV) enthusiasts credit Tesla with changing the public’s perception of EVs. They argue that before Tesla’s arrival in the marketplace, EVs were perceived as little pod-like vehicles trundling around at a maximum of say 40mph whereas afterwards, they were seen as credible vehicles in all ranges, including that of the supercar.
This then explains the first challenge with the Tesla model S:
- in terms of price and performance, a Tesla car can be right up there with top of the range marques like Ferrari and Porsche in performance terms.
Now there’s nothing new in some insurance companies being unwilling to offer cover for very high-performance vehicles and that has affected Tesla insurance.
That’s not necessarily anything to do with the fact it’s an EV! It does though link to a second challenge:
- all the performance and new technology associated with that beautiful Tesla car means that it’s also likely to be very expensive.
High costs for replacement if stolen or written-off are typically things that can worry some insurers. Traditionally, those insurers have been reluctant to take on very expensive models or when they do so it’s with heavily loaded premiums and therefore they’ve reacted likewise to Tesla vehicles.
Once again, this isn’t directly related to the fact that Tesla cars have batteries.
Finally, there’s one last point to consider:
- Tesla cars are relatively new to the market and new technology to boot. By definition, that means that repair expertise will be limited and parts not widely available in the event of post-accident repairs.
That means, amongst other things, that insurers will have restricted choices when it comes to selecting garages for work and that in turn pushes repair costs up.
Genuine Tesla EV factors
True, there are some insurance considerations that are specific to Tesla’s technology:
- the batteries are a marvel of ingenuity but they’re also expensive and that needs to be taken into account;
- some UK insurers have seemingly had some trouble accepting the use of Tesla’s own tracking system;
- it is true that some insurers still haven’t quite geared-up to providing EV cover as a matter of normal daily routine, so they’re even less ready to offer Tesla luxury car cover.
What does this mean for Tesla owners?
If the above looks to be cause for concern, the good news is that is that it is possible to get insurance for Tesla cars – and at cost-effective prices.
Such propositions typically may not be found by simply ringing around the main High Street providers, or hunting online. Tesla car insurance remains a specialist niche market and it’s important to know where to look and who to speak to in a given situation, if you’re to find attractive deals.
For example, some electric car insurance policies require a minimum driver’s age of 35 or even 40 years of age. Maybe that’s fine for you but it probably won’t be if you’re say 29!
The bottom line here is that insurance in itself should not be a showstopper sitting between you and that Model-S, providing you have expert assistance in getting to appropriate policies and deals.
Why not contact us to see how we can help find you cost-effective, comprehensive Tesla car insurance? As our name says, we are specialists in the provision of EV insurance.