SHOCKING Rise in Electric Car Insurance

SHOCKING Rise in Electric Car Insurance

Calling all drivers! Get ready to be astonished by the jaw-dropping insurance quotes for electric cars. Join me in this video as I uncover the shocking figures that will make you question the affordability of these vehicles. Discover why insurance premiums have reached unprecedented heights and what it means for the average driver. Don't miss out on this eye-opening discussion - be sure to subscribe and share your thoughts in the comments below!

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[KAZUYADOG]

Insurance companies have never been shy at ripping off drivers but these days ripping off... has reached new levels.

[kellyeye]

We are all suffering from the EV insurance requirements. The insurance industry adjusts their overall rate to cover the cost of ALL versions so if EV repairs become more expensive then so does all ICE vehicle insurance to cover them. The more EVs there are the more this will affect ICE owners.

[juliaquiltasyougo]

Talking about getting us of the road, in Southampton recently there was mayhem caused by roadworks and a diversion put in place due to them. A friend was caught up in this jam up so while in the queue went over to the workman and asked what was being done etc. They said there is no roadworks planned here but the council told us to set out the cones and traffic lights anyway. Loads of people have mentioned to me that they can't understand why road works are springing everywhere.

[ebra]

Insurance companies don’t offer loyalty to customers. Always shop around when renewing insurance.

[robertsmuggles]

The firms which refuse to cover EVs [like John Lewis] should be able to offer better premiums than those who are taking on the risks of writing off the car's value. It is just a matter of time before the risk-takers get hammered by crippling losses. We need to hear directly from insurance underwriters about this. EVs should be assigned to high insurance groups.

[alexanderirwin]

The hike in insurance cost will mean un insured drivers will soar

[alandavies]

My insurance with Churchill went up from £600+ to £1000+. I do less than 3000 miles per year.

[B.a.S.t.A.r.D.]

I’ve been driving 28yrs with 20 yrs no claims bonus . I have a 2010 citroen c1 and my average quote is £380 😳 2 yrs ago it was £150 crazy. My other car i will just leave that in the garage for now 😂

[wildthing]

Macmaster was quoted £3600 for his renewal premium when the previous year it was £600, a 500% increase. The price of insurance just proves that they want less people driving and the prices for ICE vehicles is why the EV insurance price hasn't gone up as much, it's because those with ICE vehicles are subsidising the EV premiums to some extent or the EV prices would be even higher.

[stephenowens]

This has had me thinking for a while. I was wondering if it was possible and/or viable to get say a thousand or so low risk drivers together and create their own private insurance company to make travelling financially viable again?
I can only see this problem increasing as greed from corporations gets worse and combustion engine car owners subsiding large EV claims.

[peterensinger]

Motor insurance is expensive because it is compulsory if you drive this allows the insurance companies to effectively name their prices!!!

[WolfmanWoody]

My renewal came through the other week and it had increased by 62.5% even though I have not had a claim or accident for 14 years. I asked my serice mechanic about prices and he said they had gone up, but only by the usual amounts. The insurer came up with BS. However, having complained and quoted the lowest figures I found on a compare site, they reduced it by £114. Still means it goes up by over 30% but cheaper than others now and I get a courtesy car if I have an accident, which I don't need and didn't have before.
Something still smells rotten in the state of Denmark, to misquote Shakespeare. Fact is, you NEED it and they control it. 🤬

[rodfulford]

Mine went from £380 to £680 as of now. Shopped around and got it down to £467! So dont just pay it.

[captango]

It's not just them either, us gas guzzlers are being forced to, pay extra to cover the cost of claims for these usless evs.
My renewal jumped from £135 to £ 380. Ducking disgusting.

[julianday]

I’ve gone back to the future and bought an MGB gt with classic car insurance. Seems the only way to go now, better than any modern car on the market now unfortunately.

[clivewilliams]

The problem with insurance is that it is getting ever more difficult to repair vehicles - pure and simple. EVs are a special case in that up to now the insurance industry hasn't had enough data to set the rates and the current rates reflect this new data and how difficult and therefore costly it is to repair EVs. Cars like the Tesla have bucket loads of technology to fix in a repair, all at astronomic Tesla spares prices. The battery that is now the source of specific attention is hugely expensive to access on a Tesla and Tesla won't provide individual battery cells for replacement, only the whole massive unit at £1000s. Because of the risk of fire from damaged/defective cells, the insurers are insisting on an ultimately safe repair by changing the whole battery. Even small impacts can generate a suspect battery so that they become many more times expensive than their ICE counterpart to repair.

The legislators and car manufacturers pile evermore tech into our cars, because like rabbits in headlights we demand it, without any consideration of the ease of repair that was once a selling point. It becomes a sustainability nonsense that a simple fault can scrap a car because it is uneconomical to repair, meaning that much increased energy is expended scraping the old vehicle and building a new one - what hypocrisy!

[StephenLyons]

the auto renew is the problem, they want people to just leave and forget, then the insurance win. my ev was £399 and the renewal was set to near £600. shopped around. got it for £412 with more miles and move cover. when shopping it was set to 9999 miles, changed it to 10000 and it put it up £5. these companies are out to trick you and get as much money as they can

[joefroelich]

It is the same in the USA. My work truck ( not an EV) insurance went up by over 20% within one year. No accidents or tickets.

[spezzington]

Insurance on our hyundai hybrid went up 62%. According to LV it is because of growing cost of repairs. Direct Line isn't even worth looking at.

[readmylisp]

Many cars were off the road for the best part of 2 years during the pandemic, many folk working from home .
Did anyone out there get a refund or a reduced premium ?