Even a slightly damaged EV battery can result in the whole car being written off

SKC-auto · 31st March 2023, 21:41

Quote:

Originally Posted by supermax

In Europe, full insurance for an EV is more than 3 times that of a regular ICE car, precisely for the additional risk with super expensive batteries which form an overwhelming percentage of the cost of the car.

Can you share any evidence about 3x more insurance costs, I tried to find out but many seems to suggest ~10% more insurance costs than similarly priced ICE car. 3x seems like super high.

https://www.theguardian.com/money/20...diesel-vehicle

supermax · 1st April 2023, 04:39

Quote:

Originally Posted by SKC-auto

Can you share any evidence about 3x more insurance costs, I tried to find out but many seems to suggest ~10% more insurance costs than similarly priced ICE car. 3x seems like super high.

https://www.theguardian.com/money/20...diesel-vehicle

Three times is indeed high, but the reality is much higher than three times, and that's what it is. I don't know about UK. My source? I pay a comprehensive insurance for my ICE car and all my colleagues who own EVs have stated this. For my relatively new ICE car (2020 reg) I pay around 4000 SEK. My friends who have EVs of the same age pay about 15000. In order to get a quote from any insurance provider, you need the registration number of the vehicle and your person number, so it's not public info, but I'm sure you can find out easily enough that I'm not making up the numbers.

SKC-auto · 1st April 2023, 05:08

Quote:

Originally Posted by supermax

My source?.

There are many factors like persons age, previous accident history, cars actual cost, I wanted to know these factors. I understand you drive a Skoda, what does you friend drive, what are the car purchase price?

Even US seems to have an average increase of 25% over ICE car.

https://www.valuepenguin.com/how-hav...nsurance-rates

supermax · 1st April 2023, 05:45

Quote:

Originally Posted by SKC-auto

There are many factors like persons age, previous accident history, cars actual cost, I wanted to know these factors. I understand you drive a Skoda, what does you friend drive, what are the car purchase price?

Even US seems to have an average increase of 25% over ICE car.

https://www.valuepenguin.com/how-hav...nsurance-rates

Valid points. I'll talk to my friends and get back to you. They are also likely driving much more than me every year, which too affects the premium price. Accident history is likely a non issue and so is age. The premium is very high for drivers below 25 and my friends probably enjoy more discount than me due to them having driven for more years.
One owns a Tesla Model 3 and the other a VW E Golf.