Electric cars: Why are insurance premiums rising despite rare accidents? Financial expert explains.

Electric cars: Why are insurance premiums rising despite rare accidents? Financial expert explains.

According to a report by www.24auto.de, insurance premiums for electric cars are rising compared to combustion engines despite rare accidents. This is due to the high repair costs caused by the technology.

The increased premiums result from the high workshop costs for electric cars, which are on average 30 to 35 percent higher than for conventional vehicles. This is due, among other things, to the costs of special storage of damaged traction batteries, which entails unnecessary quarantine measures.

Vehicle manufacturers could reduce costs by giving workshops better access to battery data to better assess the need for quarantine. A battery check usually costs around 100 euros and is also advisable when buying a used electric car.

In addition, the trend towards gigacasting is cited as another factor for increasing repair costs. This production process, in which large body parts are made in one piece, makes replacement after an accident much more difficult and leads to higher costs.

Overall, the rising repair costs and insurance premiums for electric cars are an important aspect that consumers and the automotive industry should keep an eye on.