By Paul Homewood
It’s even worse than we thought!
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.
The typical insurance premium for electric vehicles (EVs) has increased to £1,344, a rise of 50pc compared with a year earlier, according to UK broker Howden Group.
That is double the cost of cover for combustion engine cars, which Howden blames on a higher cost of repairs for electric models.
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.
For example, while the cost of insuring a typical internal combustion engine (ICE) car jumped by 31pc, the number itself rose from £514 to £676, some £668 less expensive per year than insuring an electric car.
Howden blamed this on a higher frequency of claims from EV drivers and a higher average cost per claim than for ICE-model drivers.
The average cost per claim for accidental damage was typically 35pc higher for EVs, the company said.
Howden said this was due to the more complicated technology in electric cars which tended to require specialist mechanics with specific equipment.
Batteries were also “expensive and prone to damage”, Howden added.
via NOT A LOT OF PEOPLE KNOW THAT
January 26, 2024 at 09:24AM
Iowa Climate Science Education 