{"id":298439,"date":"2024-01-25T11:51:33","date_gmt":"2024-01-25T10:51:33","guid":{"rendered":"https:\/\/climatescience.press\/?p=298439"},"modified":"2024-01-25T11:51:35","modified_gmt":"2024-01-25T10:51:35","slug":"electric-cars-cost-twice-as-much-to-insure-as-petrol-and-diesel-vehicles","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=298439","title":{"rendered":"Electric cars cost twice as much to insure as petrol and diesel vehicles"},"content":{"rendered":"\n
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Higher prices blamed on frequent insurance claims and complex technology<\/em><\/strong><\/p>\n\n\n\n

Drivers of electric cars are being asked to pay more than twice as much for insurance as those who own petrol-fuelled models, data has revealed.<\/p>\n\n\n\n

The typical insurance premium for electric vehicles (EVs) has increased to \u00a31,344, a rise of 50pc compared with a year earlier, according to UK broker Howden Group. The Telegraph<\/a> has the story.<\/p>\n\n\n\n

That is double the cost of cover for combustion engine cars, which Howden blames on a higher cost of repairs for electric models. <\/p>\n\n\n\n

Insurance premiums for all types of cars surged last year but the rise for EVs was bigger both proportionally and in real terms, the company said. <\/p>\n\n\n\n

For example, while the cost of insuring a typical internal combustion engine (ICE) car jumped by 31pc, the number itself rose from \u00a3514 to \u00a3676, some \u00a3668 less expensive per year than insuring an electric car.<\/p>\n\n\n\n

Howden blamed this on a higher frequency of claims from EV drivers and a higher average cost per claim<\/a> than for ICE-model drivers.<\/p>\n\n\n\n

The average cost per claim for accidental damage was typically 35pc higher for EVs, the company said. <\/p>\n\n\n\n

Howden said this was due to the more complicated technology in electric cars which tended to require specialist mechanics with specific equipment.\u00a0<\/p>\n\n\n\n

Batteries were also \u201cexpensive and prone to damage<\/a>\u201d, Howden added. <\/p>\n\n\n\n

Carl Shuker, the broker\u2019s UK and Ireland boss, told Bloomberg: \u201cYou\u2019ve got length of repair times going up, you\u2019ve got the cost of the component parts going up, and you probably see more EVs written off because residual values are particularly low at the moment.\u201d<\/p>\n\n\n\n

Howden said premiums could fall as more data becomes available, providing it shows that the frequency and cost of claims is falling.<\/p>\n\n\n\n

The rise in premiums will deal a fresh blow to the EV rollout as demand is already faltering,<\/a> with consumers grappling with the high cost of living.<\/p>\n\n\n\n

Read the full story here<\/a>.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Higher prices blamed on frequent insurance claims and complex technology<\/p>\n","protected":false},"author":121246920,"featured_media":298444,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"Higher prices blamed on frequent insurance claims and complex technology","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691821977,691822776,691826539],"class_list":{"0":"post-298439","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-electric-vehicles-evs","9":"tag-expensive","10":"tag-petrol-fuelled-models","12":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/OIG-90.jpeg?fit=1024%2C1024&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1fDx","jetpack-related-posts":[{"id":330046,"url":"https:\/\/climatescience.press\/?p=330046","url_meta":{"origin":298439,"position":0},"title":"EVs twice as likely to kill pedestrians (and who knows how many cats, dogs, ducks and wombats?)","author":"uwe.roland.gross","date":"05\/25\/2024","format":false,"excerpt":"A new study shows electric cars are twice as likely to hit pedestrians compared to petrol and diesel cars. 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