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Soaring EV Insurance Costs

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We’ll all pay the price of soaring EV insurance

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3 COMMENTS

  1. Not all EV’s have battery fires and ICE vehicles have many more fires per 100,000 vehicles than EV’s.

    I seriously doubt that ICE vehicle owners will have to pay higher insurance rates to prop up EV insurance rates.

    Insurance companies adjust rates based on loss experiences. The EU gender situation was/is an outlier.

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    • The issue with comparing ICE fires with EVs is the age and diversity of the fleets. Evs are new technology, and hence recent manufacture and well looked after. ICE vehicles could be over 120 years old, and as a drive around South Auckland will attest, maintenance standards vary greatly.
      The thrust of the article is the repair costs for EVs are out of proportion and minor shunts lead to the EV being totaled due to parts costs, and the difficulty and specialized equipment and knowledge to repair. To be fair, ICE cars have been moving in that direction for some time, with expensive sensors, electronics and non repairable body panels.
      I believe Tesla use a cast aluminium chassis. It makes for very fast manufacturing as opposed to multiple welded stampings, but cannot be fixed. I see Toyota is planning to do the same as it saves hours of manufacturing time.

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