U.K. 3 insurance more expensive than S

U.K. 3 insurance more expensive than S

I’ve got a 2017 S75

Looking at changing to a new 3.

Just ran a couple of quotes for LR and P and even thought I’ve valued the new 3 at the same price as my current S the insurance is £400 a year more.

Any U.K. drivers experienced more expensive insurance on a 3 compared to an S?

Ps USA readers - we don’t have “Tesla Insurance” in the U.K.

Lonestar10_1999 | January 13, 2020

The repair costs can be pretty high for body work. That would explain it.

spuzzz123 | January 13, 2020

Perhaps your 3 yo model s has depreciated below what a new model 3 costs. That’s what drives insurance more than anything. Replacement cost. | January 13, 2020

I think @spuzzz nailed it. To confirm, ask for a quote on a new 2020 Model S. I'd expect the insurance will be more than the 3. Repair costs for the 3, being more steel than aluminum, should be cheaper to repair as well, so I don't see that as the issue.

Then there are insurance companies that just charge outrageous amounts for a new car they are not familiar with. Worth trying a few other insurers.

PagemakersS75P3 | January 13, 2020

When getting quotes I put the same value for both cars.

Tronguy | January 13, 2020

Dunno how the insurance markets work in the UK, but during the rollout of the M3 in the US many insurers, but not all, started classifying all the M3's as sports cars. Possibly because of the acceleration potential.
Not all of them did, including some of the big guys, so there was a lot of talk around here with people shopping around.
In California (note: Each State in the US, for insurance purposes, is rather independent of the other states) M3 insurance rates were climbing rather dramatically. CA seems to have repetitive problems like that. Elon's answer: Tesla became an insurer! So far, Tesla's only insuring in CA, but their rates are much more reasonable. I haven't heard anything directly on this forum, but presumably the other insurers in CA are feeling some pressure.