It will be interesting to see how the insurance industry treats EVs. I was recently asked in my home owners policy if I had an EV charging device at my house and if it was inside my garage. Since so many people bundle insurance they will know who has what.
Yes, it will be really interesting to see how the insurance industry views EVs….
Just look at these threads about insurance. Of course premiums are going to go up!
Insurers totaling EV's for minor accidents:
https://www.thelayoff.com/t/1lJnvy0E
EVs "Concern that the additional weight will cause more extensive accidents."
https://www.thelayoff.com/t/1lJB7JdZ
Post ID: @njb+1lKO1xIs
EV's are simpler than ICE vehicles... yeah except for that heavy, expensive, not so simple part making electricity with a very complicated chemical reaction
If the battery is damaged the vehicle is considered totaled. I assume that means higher premiums
Post ID: @xyo+1lKO1xIs
Total falsehood. It is widely understood that BEV's are much a simpler vehicle than ICE. This is one of the many reasons that Ford is exiting ICE and going all-in with BEV's as the company transformation plan is undertaking.
Simpler = less manufacturing and manufacturing cost
Simpler = less complexity and better quality
Simpler = less engineering and engineering cost
Shall I go on?
I know that fixing an EV vehicle is much more expensive than an ICE, so I'm sure the insurance premiums will increase if you own one.