Yep, I sold my car over a year ago. Nothing fancy, just a Ford Focus Mk3 revised. The increase in insurance could not be justified by my driving only 14 miles a week. So I descended to the level I should really be at; that of bus and Uber user. To be fair it was not just the insurance, the MOT, car tax and servicing charges all mounted up. I had bought it as a mum mobile and motorized shopping trolley. I still need it though as my mother's mobility is poor. However, living in London you realize the home and the car are the two methods of taxing people into penury. Regardless, with your aid I can dream of owning this car.
My friends and I who own Taycans pay massive amounts for insurance. We are all in our 40s and we are paying $225 a month MINIMUM on 4S' to $575 a month on turbos and GTS models - AND that is with $2500 to $5000 deductibles in Toronto. Those are minimum deductibles that are already set from insurance. You cannot change them - Collision and comprehensive - good luck changing the windshield and trying to claim it! nope!! On average we pay $300 a month with great records and excellent driving history. The cars are expensive AND the massive fraud and vehicles stolen have affected us also. So yes - owning a Taycan is VERY EXPENSIVE! Great video as always - Thank you
corporate greed, you can make up multiple excuses but when all is said and done go look at the year on year profits declared by the insurance companies and they are going up significantly in line with premium increased
My total annual insurance with own damage / third-party, natural disasters (flood and others), fire, theft, assistances and a bunch of other things, is 2400,00 euros here in Portugal. I always chose the middle option (does not cover fire and own damages). If I had chosen it, it would cost 680,00 euros. But I'm not that crazy :D
I think which car massively influences the cost based on the risk. I recently treated myself to Mustang Bullitt and it is 10% cheaper to insure with no NCB than my 10 year old Mazda is with max NCB. 5000 lower miles per year on the mustang is the only other variable.
I don’t think there is any real competition in the insurance market, nothing radical. That might change with properly connected cars. Another well researched video.
Car Insurance is a big part of the cost of living! Especially for those in work & use their cars to get to & from! Also Moms or school age children to & from school. There are 32 million people in the Workforce & 34 million cars on the road! So if everyone paid £1,000for their car insurance. That's £34Billion/year!!!! Now add Cyclists, Motorcyclists & Commercial vehicles of all types. You can probably Double that? The Insurance Scamindustry.
So, you buy a £100K Porsche Taycan & £1,000 to insure it. Then Someone else buys a 10,000$(£7,500) Chinese EV brand new? What do they pay? they sell it a 4years old(with 4 years battery warranty remaining.) 40K miles on the clock & one owner from new, for £3,000? Who pays the highest insurance premium? What's the difference. The insurance company of the driver to blame pays out every time!
Yep, I sold my car over a year ago. Nothing fancy, just a Ford Focus Mk3 revised.
The increase in insurance could not be justified by my driving only 14 miles a week.
So I descended to the level I should really be at; that of bus and Uber user.
To be fair it was not just the insurance, the MOT, car tax and servicing charges all mounted up.
I had bought it as a mum mobile and motorized shopping trolley.
I still need it though as my mother's mobility is poor.
However, living in London you realize the home and the car are the two methods of taxing people into penury.
Regardless, with your aid I can dream of owning this car.
I wouldn't say you've descended, you're just doing what's right for you at this point given the circumstances - so good for you 👍🏻
My friends and I who own Taycans pay massive amounts for insurance. We are all in our 40s and we are paying $225 a month MINIMUM on 4S' to $575 a month on turbos and GTS models - AND that is with $2500 to $5000 deductibles in Toronto. Those are minimum deductibles that are already set from insurance. You cannot change them - Collision and comprehensive - good luck changing the windshield and trying to claim it! nope!! On average we pay $300 a month with great records and excellent driving history. The cars are expensive AND the massive fraud and vehicles stolen have affected us also. So yes - owning a Taycan is VERY EXPENSIVE! Great video as always - Thank you
Ouch, that's pretty expensive even with the CAD ▶️ GBP conversion. I feel your pain!
corporate greed, you can make up multiple excuses but when all is said and done go look at the year on year profits declared by the insurance companies and they are going up significantly in line with premium increased
Yeah, that's a topic for a future vid
Good info
Thanks for covering this.
My total annual insurance with own damage / third-party, natural disasters (flood and others), fire, theft, assistances and a bunch of other things, is 2400,00 euros here in Portugal. I always chose the middle option (does not cover fire and own damages). If I had chosen it, it would cost 680,00 euros. But I'm not that crazy :D
But what if your car is a total loss write off?
I think which car massively influences the cost based on the risk. I recently treated myself to Mustang Bullitt and it is 10% cheaper to insure with no NCB than my 10 year old Mazda is with max NCB. 5000 lower miles per year on the mustang is the only other variable.
Yeah, it's gone up for everyone unfortunately - at least it seems that way whenever I speak to others
I don’t think there is any real competition in the insurance market, nothing radical. That might change with properly connected cars.
Another well researched video.
Thanks Paul!
Hi TAB.......have you heard anything about this front brake recall.....maybe you could do a quick vid on it ??
Yeah, seen a few folk posting with that. I hear they're struggling with part availability...
Spoke too soon, my letter turned up today! 😆 Luckily I have a service coming up in Sep so they'll do it then
Anyone know how much he pays? 11 minutes is too long for a simple one liner
This is the best vid on YT right now. Grab some 🍿😆
£1000 a year
Car Insurance is a big part of the cost of living! Especially for those in work & use their cars to get to & from! Also Moms or school age children to & from school. There are 32 million people in the Workforce & 34 million cars on the road! So if everyone paid £1,000for their car insurance. That's £34Billion/year!!!! Now add Cyclists, Motorcyclists & Commercial vehicles of all types. You can probably Double that? The Insurance Scamindustry.
So, you buy a £100K Porsche Taycan & £1,000 to insure it. Then Someone else buys a 10,000$(£7,500) Chinese EV brand new? What do they pay? they sell it a 4years old(with 4 years battery warranty remaining.) 40K miles on the clock & one owner from new, for £3,000? Who pays the highest insurance premium? What's the difference. The insurance company of the driver to blame pays out every time!
So the taycan is not only the most undesirable Porsche ever produced, it also costs more to insure. I can’t fathom why anyone buys them.
Dunno, Gen 1 Panamera is a tough look.