Why are insurance premiums for electric cars increasing despite rare accidents? Financial expert explains the gigacasting phenomenon

Why are insurance premiums for electric cars increasing despite rare accidents? Financial expert explains the gigacasting phenomenon

According to a report by www.24auto.de, insurance premiums for electric cars are rising despite fewer accidents compared to combustion engines. This is mainly due to the high workshop costs, which are on average 30 to 35 percent higher for electric cars than for conventional vehicles. Another factor driving up repair costs is the trend toward gigacasting, whereby large body panels are made in one piece and are difficult to replace after an accident.

If we analyze the facts in more detail, we can estimate the potential impact on the market and consumers. The increased insurance premiums could make electric cars less attractive for consumers. Additionally, automakers that embrace the gigacasting trend could incur higher repair costs and insurance premiums for their electric vehicles, further increasing the total cost of ownership for consumers.

The article shows that the costs of repairing and maintaining electric vehicles are significantly higher compared to conventional vehicles. This fact can deter potential buyers and affect the acceptance of electromobility. Car manufacturers could also be encouraged to use alternative manufacturing techniques to reduce costs and improve serviceability.

The increasing costs of repairing and maintaining electric cars is an important issue that may influence the development and acceptance of these vehicles. It is critical that automakers, insurance companies and government agencies work together to find solutions that make electric vehicles more affordable and attractive to consumers.