Electric car insurance: repair cost shock - up to 35% more expensive! Measures to reduce premiums and special right of termination.

Electric car insurance: repair cost shock - up to 35% more expensive! Measures to reduce premiums and special right of termination.

According to a report from www.focus.de, electric car drivers are threatened with a cost shock when it comes to insurance, as insurance premiums for electric vehicles are currently rising sharply. This is because the repair costs for electric cars are 30 to 35 percent higher compared to combustion engines. Particularly when it comes to fully comprehensive insurance for electric cars, which also covers damage to batteries, some of the policies are already higher than those for comparable models with combustion engines. This applies, for example, to the Fiat 500, the Hyundai Kona and the Renault Kangoo.

The rising insurance premiums for electric vehicles could jeopardize the acceptance of the drive technology, as car rental companies have already announced that they will reduce their inventory of electric vehicles. The reason for the higher repair costs for electric cars is, among other things, the expensive batteries, some of which are difficult to handle and lead to long quarantine periods. Additionally, damaged lithium-ion batteries can pose a fire risk, further increasing repair costs.

Despite the fact that electric cars cause on average five to ten percent fewer accidents than comparable combustion engines and even around 20 percent less in fully comprehensive insurance, the damage amounts for electric vehicles are significantly higher. The increasing mechanization of cars with sensors and assistance systems as well as the production of large body parts in one piece also contribute to the increased repair costs. This applies to both electric cars and combustion engines.

In order to defend themselves against the higher premiums, car owners have the right to a special cancellation if the premium increases and can change insurance immediately. Some insurers also offer special premiums for electric vehicles to reduce the cost burden for electric car drivers.

In terms of the market, the increasing insurance premium could reduce the demand for electric cars and thus affect the entire e-mobility industry. Before purchasing an electric car, consumers may consider rising insurance costs and may decide against an electric vehicle. In the long term, this could hinder efforts to promote electromobility.

Source: www.focus.de