A overview of just about 300,000 Australian automotive insurance coverage quotes has discovered Tesla to be among the many most costly manufacturers to insure.
Monetary comparability service Mozo compiled and analysed 295,346 automotive insurance coverage quotes from 33 suppliers, in addition to a complete of 61 automotive insurance coverage insurance policies.
It discovered the common annual premium for Australian motorists is $1717.
Out of the 59 automotive manufacturers lined, 28 had been beneath the common determine, whereas 31 had been above it.
Nonetheless, the premiums for some manufacturers had been significantly increased than the common, with Maserati, Mercedes-AMG, Chevrolet, Porsche and Tesla rating because the 5 most costly manufacturers for insurance coverage.
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Whereas this might not be a shock for the previous 4 manufacturers – none of which promote autos for lower than $85,000 in Australia – it’s a shock for Tesla, given the electrical car (EV) specialist’s mannequin lineup begins within the mid-$50,000 vary earlier than on-road prices and solely extends to the mid-$80,000s.
Behind Tesla had been Ram, Ineos, Vary Rover, Infiniti and BMW, all of that are luxurious or area of interest manufacturers.
On the different finish of the spectrum, funds manufacturers which have since left Australia corresponding to Daewoo and Proton ranked as the most affordable carmakers for insurance coverage prices.
They sat forward of defunct Saab, the soon-to-return Foton, and Nice Wall Motors, as GWM was beforehand branded earlier than its relaunch.
Maybe one other shock from the checklist is Toyota – lengthy the favorite model amongst Australian automotive consumers – rating above the common annual value, and above European manufacturers like Volkswagen and Volvo.
Extra details about how a lot Australians are paying for automotive insurance coverage, and what influences these elements, may be present in Mozo’s 2024 report. It’s obtainable to learn right here.
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