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Discussion Starter · #1 ·
Hi all,

just wondering what insurance company everyone is using for their I pace. My I pace is due in a couple of weeks and I just did a number of quotes both on comparison sites and independently and they’re all coming back with very reasonable premiums but very high excess (£1000 or more). Is everyone else finding the same if not are you prepared to share what insurance company you are using? Thanks
 

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I'm with Darwin. Won't need to renew until October but ran a quick check and got a quote for 250 voluntary excess, 600 compulsory (so £850 excess altogether), premium of £560. 6 years no claims. For a model 21 HSE.
I used confused.com to get that price.
 

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Discussion Starter · #3 ·
I'm with Darwin. Won't need to renew until October but ran a quick check and got a quote for 250 voluntary excess, 600 compulsory (so £850 excess altogether), premium of £560. 6 years no claims. For a model 21 HSE.
I used confused.com to get that price.
Yes that sounds similar to what I’m getting but excess of £850 sounds high compared to my previous ICE cars which are usually around £100-£200 mark. Just wondering why insurance excess should be so much higher on EVs.
 

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I am not sure why the excess is so high, but if insurance companies have decided they require higher premiums perhaps they balance the premium with excess (ie not put all the cost into the premium) to persuade us to still buy the insurance? Just a guess. I read this on Forbes: "There are a few quirks with EVs that can make them more expensive to insure than internal combustion engine (ICE) vehicles. For example, replacement parts – especially those involved in powering an EV – can be expensive. Insurers pass that on to you in the form of higher premiums.
EVs also typically tend to be put into higher, more expensive car insurance groups than their ICE vehicle equivalents. A car’s insurance group reflects its value, security and safety. Vehicles are allocated to a group between 1 and 50, with 1 being the cheapest and 50 the most expensive.
The Nissan Leaf, an EV, starts from Group 21, while its ICE vehicle equivalents like the Nissan Micra start from Group 1. That disparity can have a big effect on what you’ll pay for cover on each.
Some research has even suggested that because EVs make less noise when running, they’re more likely to hit pedestrians as they’re more difficult to hear coming. In 2015, Guide Dogs claimed pedestrians were 40% more likely to be hit by an EV than an ICE vehicle.
"
 

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Discussion Starter · #6 ·
Thanks for the reply. Good to know that you can get such low excess but I suspect that will be at the expense of a prohibitively high premium to account for the low excess?
 

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My premium was £380 - £43 cashback so around £340. You have to play around with the pricing a lot of the time changing the excess makes very little difference to the premium.
 

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Just as an observation, I saw second hand battery pack for I-Pace on Ebay following a write off. £10,500 starting price. 😖
 
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I don't think it's just the EV part of the transaction.
When you are looking at almost £4000 just to replace one headlight, you probably only have to do superficial damage to do £10,000
 
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