Insurance 03

So I have just cancelled my order. Luckily I became aware of these insurance issues just before I signed & sent back the contract!! I’m yet to hear back from the dealership but when I mentioned I was having a bit of trouble with insurance he didn’t seem particularly interested/concerned/helpful.
Very disappointed as I was looking forward to my first EV & think the oras seem like great little cars but can’t help thinking I might have dodged a bullet here!! What a shame!
Big thank you to all on this group for the info shared & hope those who are stuck find a resolution asap!
 
vic said:
So I have just cancelled my order. Luckily I became aware of these insurance issues just before I signed & sent back the contract!! I’m yet to hear back from the dealership but when I mentioned I was having a bit of trouble with insurance he didn’t seem particularly interested/concerned/helpful.
Very disappointed as I was looking forward to my first EV & think the oras seem like great little cars but can’t help thinking I might have dodged a bullet here!! What a shame!
Big thank you to all on this group for the info shared & hope those who are stuck find a resolution asap!
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I should add, I used all the usual comparison sights as well as speaking to direct line & Hastings. None would insure based on the car being a brand new GWM Ora 03 Pure+.
Hastings gave the only reasonable quote, this was based on a Funky Cat but upon speaking to them on the phone re the change in name, they were no longer prepared to offer. All very odd.
 
We have managed to insured our ORA 03 with Tesco for £800. After speaking to ORA they recommended Tesco / Churchill / L.V but I was unable to get a quote for Churchill and LV
 
I read an article yesterday which said part of the insurance cost problem is the parts supply problem - especially with Chinese cars. The ORA brand were specifically mentioned - as was the BYD Seal (though not the Dolphin or Atto3). Apparently there aren't enough parts in stock (see another member's post on the repairer not having the nuts in stock for his track rod repair, for example). But there is also a problem with the manufacturers not sending out enough info on how to service and repair their cars. If you don't know how to do it - you can't do it! All this makes insurers nervous as they feel they could be saddled with cars that could be repaired but can't be repaired and so have to be written off. Expensive....
 
John Cat said:
I read an article yesterday which said part of the insurance cost problem is the parts supply problem - especially with Chinese cars. The ORA brand were specifically mentioned - as was the BYD Seal (though not the Dolphin or Atto3). Apparently there aren't enough parts in stock (see another member's post on the repairer not having the nuts in stock for his track rod repair, for example). But there is also a problem with the manufacturers not sending out enough info on how to service and repair their cars. If you don't know how to do it - you can't do it! All this makes insurers nervous as they feel they could be saddled with cars that could be repaired but can't be repaired and so have to be written off. Expensive....
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Adding to this, I have read multiple times that the ORA are getting written off due to lack of parts. For instance a minor dent which would normally cost £200-300, is a full insurance write off because they don't have the parts. Hence the higher insurance premiums!
 
Carousel said:

Popular Chinese car company announces plans to lower cost of insurance premiums​

www.express.co.uk

Popular Chinese car company announces plans to lower cost of insurance premiums

One of the UK's most popular Chinese car companies has stated it will make spare parts more accessible in a bid to reduce insurance premiums.
www.express.co.uk www.express.co.uk
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Interesting. So it’s a wait & see situation for now? When I cancelled my order on Friday the broker did come back to me & say he had spoken to GWM and they were working on some sort of resolution/incentive for prospective customers struggling with insurance and he would let me know this week. I will update here when I hear more.
 
vic said:
Interesting. So it’s a wait & see situation for now? When I cancelled my order on Friday the broker did come back to me & say he had spoken to GWM and they were working on some sort of resolution/incentive for prospective customers struggling with insurance and he would let me know this week. I will update here when I hear more.
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Did you hear back from them regarding resolution/incentives?
 
Hi all
I have heard back from the dealer today & he says that Ora are prepared to give customers £600 cash back once you collect the car & they receive a copy of your insurance policy.
This is not dependant on how much your insurance costs - it’s a flat £600.
My understanding is that this is an offer for all new customers but not sure if it’s for a limited time.
I’m considering it as Tesco do seem to be offering insurance for <£1000. I suppose my only worry is that the cover will be withdrawn if there are further parts issues.
What do people think??
 
Hello guys, I have recently leased Ora O3 pure+ received the vehicle yesterday, and was looking for quotes the reg was not showing up on any comparison sites. Checked today with compare market they quoted be 5k which is total mad. Also contacted the Tesco, LV and direct line none of them wanna insure the vehicle, stating the reason is not know. I have also spoke to my lease company and finance company and I am ready to return the vehicle as I cannot keep the vehicle, which I cannot insure. Secondly lease company is asking me to pay early termination charge, which I have already refused to pay, since I was not made aware of the insurance problem, which if I was I would have never ordered the vehicle in first place.
Need advice guys, plz help
 
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I've just received a leased Ora 03 (pure +) and today (16th march), after much much searching, I decided to go with Tesco bank insurance - mostly because no one else would give me a quote!

They quoted me £950 to start with, which I accepted with gritted teeth, but once I'd inputted my clubcard number this reduced to £650 - never clicked quicker on accept in my life.

So might be worth trying that - £650 for a brand new electric car doesn't seem too bad.
 
RichB said:
I've just received a leased Ora 03 (pure +) and today (16th march), after much much searching, I decided to go with Tesco bank insurance - mostly because no one else would give me a quote!

They quoted me £950 to start with, which I accepted with gritted teeth, but once I'd inputted my clubcard number this reduced to £650 - never clicked quicker on accept in my life.

So might be worth trying that - £650 for a brand new electric car doesn't seem too bad.
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Ive done exactly the same!
Tesco Silver cover £810 for the year. You must spend a lot with Tesco as my Clubcard only gave me £40 discount!! I was quite pleased with that until I saw yours haha!
 
knabil17 said:
Guys!! Any update on insurance issue?
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Hi Knabil
I’m afraid I was only able to get a realistic quote from Tesco so not sure what I can suggest if you couldn’t get anything from them! Did you lease directly from Ora? I found them very helpful & understanding as they are aware of the problem but maybe other lease companies are not!
 
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vic said:
Hi Knabil
I’m afraid I was only able to get a realistic quote from Tesco so not sure what I can suggest if you couldn’t get anything from them! Did you lease directly from Ora? I found them very helpful & understanding as they are aware of the problem but maybe other lease companies are not!
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I leased through contract cars, finance company is Lex Auto. I got a quote from Tesco today 3k which is insane.
 
i have heard back from my lease back, and stated that gwm ora 03 will be available in all insurance data bases from end of the month, but I can already see that my insurance prices is dropping, which is great.
 
knabil17 said:
i have heard back from my lease back, and stated that gwm ora 03 will be available in all insurance data bases from end of the month, but I can already see that my insurance prices is dropping, which is great.
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Many thanks.That's good news. Our car was sold as a Funky Cat last August and is registered at DVLA under that model name (what name is DVLA using currently) so I hope that when I come to re-insure our Funky Cat next August I am not told that there is no such car of that name!
 

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