- Cheaper insurance group for Tesla Model Y
- Has dropped by as much as nine groups
- Standard Range RWD Model Y cheapest to insure
- Cheaper repair costs a factor
Good news if you’re in the market for a Tesla Model Y - because the electric SUV is now much cheaper to insure.
In the UK, all cars fall into a specific insurance group, ranging from 1 (least expensive) to 50 (most expensive).
The insurance groups themselves are decided upon by the Association of British Insurers (ABI) and Lloyds Market Association (LMA) with a lot of help from industry safety experts Thatcham Research, who crash test cars before figuring out how to repair them again.
After the very latest Tesla Model Y was assessed by the boffins in white coats, the best-selling EV has dropped by up to nine insurance groups.
While insurance costs depend on a number of factors, including the personal details of the driver, that drop in group should result in cheaper premiums for the majority of motorists - making a Tesla Model Y lease even more tempting.
The cheapest model to insure is also the cheapest to lease - the Standard Range Rear-Wheel Drive variant.
The latest info shows it now sits in insurance group 37 - having previously been in group 46.
There have been similar, though less dramatic, drops for the Long Range Rear-Wheel Drive Model Y (from 45 to 39) and the Long Range All-Wheel Drive Model Y (a dip from 48 to 42).
So, what’s driving the generous insurance group fall-off?
One of the big things that decides an insurance group is the ease and expense of repairs. The more complex and costly the repair, the more likely it is to attract a higher insurance group.
What we’ve seen with the brand new Tesla Model Y (which was launched earlier this year) is that changes to its design and the way that it’s built has resulted in a more seamless repair process.
The Model Y’s boot, for example, is now divided into two parts (an upper section and a lower section) which means the panels are easier to replace. If you suffer a small ding or bump, you don’t need to repair the entire lid.
Flatter, more squared-off glass in the rear of the Tesla Model Y is also easier and more cost-effective to replace, according to Tesla fanatics.
Safety is another big driver when it comes to insurance grouping, and the Tesla Model Y is one of the safest cars in its class, with all models fitted as standard with driver assistance tech such as ‘Autosteer’, traffic-aware cruise control, blind spot collision warning, automatic emergency braking, and a new front-facing camera.
You’d be forgiven for thinking that an insurance group drop might mean the Tesla Model Y is a lot less potent than before, from a performance perspective.
But thankfully that’s not the case.
The entry-level Standard Range RWD Model Y is still capable of accelerating from 0-60 mph in 5.6 seconds while the Long Range AWD is actually quicker than before, covering 0-60 mph in just 4.6 seconds.
Interested in a Tesla Model Y lease? Check out our latest Tesla special offers or chat with one of our expert leasing consultants for more information. Email enquiries@selectcarleasing.co.uk or call 0118 920 5130.
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