GDV expert warns: Higher insurance premiums expected for Tesla Model Y

GDV expert warns: Higher insurance premiums expected for Tesla Model Y

According to a report by teslamag.de,

When developing the new vehicle frame for the Model Y, Tesla placed great emphasis on safety. An integrated part of the large die-cast elements used for the rear and partly also the front half can be an element that was specifically designed for progressive deformation, according to a patent application by the company from the beginning of 2022. This is intended to ensure robust and reproducible crash behavior. But these new production methods have an impact on the insurance premiums for the Model Y. According to an expert from the General Association of German Insurers (GDV), significantly higher insurance premiums can be expected in the near future because checking cast parts after an accident is time-consuming and repairs are not possible using normal workshop resources. Normally, manufacturers would submit a repair concept to the association in advance when introducing new production techniques. However, the association has not yet seen any concept from Tesla for repairs to the die-cast elements in the Model Y produced in so-called giga presses.

The Model Y is currently classified in class 29 for fully comprehensive insurance at GDV, just like the more expensive Tesla Models S and X. Some German owners are already complaining that their Model Y is too expensive to insure. However, this classification is based on the fact that the Model Y has only been on the European market for a relatively short time, which is why there is a lack of accident experience with it. But that will probably change next year.

This change is expected to result in higher insurance premiums for the Model Y. Tesla's new production methods and lack of repair concepts could cause Model Y insurance costs to rise. Additionally, German Tesla customers are unlikely to see an upgrade to the Model Y this year, but that could change next year. It remains to be seen whether Tesla will submit a repair concept or whether further crash tests will be required to keep insurance costs down. Overall, this could lead to an increased financial burden for Tesla customers in Germany.