EV Insurance Costs Are SHOCKING... Here's WHY!

Thinking of Buying an Electric Vehicle or Hybrid? Be aware that the insurance may well come at an eye watering cost!

As always let me know your thoughts in the comments below.

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[ScottishCarClan]

EV Depreciation woes explained …

EV Depreciation May Be Heading For ROCK BOTTOM!

[procriminalz]

As long as they charge those to ev owners directly and don’t effect our premiums I’m ok with this

[TheGodParticle]

This is going to take years to resolve, perhaps decades, it's rushing the narrative through without letting technology grow. Petrol for me always.

[donaldkasper]

The battery gets damaged in any accident, the EV is just scrapped. This raises insurance costs.

[sleekitwan]

I think it was 4 years ago, I looked into insuring a Tesla, not that I could afford one. It had begun to occur to me, that if these cars are hugely expensive to buy, there could be a hidden issue with insurance premiums. Nobody, had spoken about their insurance prices, at that time. I was paying £280 fully comp, for a big old Volvo automatic 5-pot diesel, with my old buffer’s discount. So, when it came up as about A GRAND I sat up and took notice. Zero road tax, paled to nothing. Add the £400 or so road tax for the Volvo V70, to the £280 insurance, you still ‘only’ get to £680 per annum. This wasn’t what killed my EV interest - it was frozen feet in the two EVs I tried, as well as the cost.

So in the end between crazy insurance, and inadequate heating/extra battery capacity needed for winter heating (at huge cost), and with needing to have your home turned into a power generating station to make true economic sense, I threw the towel in and just got a Toyota hybrid, used. Loads of heat. Decent if not quite excellent seats, and warm feet, and we don;t have home solar panels or the thousands to do all that as a first step to getting an EV. Just being logical, about it. It would be my path, to do the home generating station thing, before I’d spend on an EV now. If Big EGO (Big Energy Gas & Oil !) can at a whim, not only crank up fossil fuel prices, but also directly influence thereby, home energy prices, this is their last gasp at throttling us all for our last penny, before they weaken.

But I’d say, that’s a decade-long process. They will price-gouge, and the UK government joining in of course, for about the next ten years I believe. During that time, I will try and get green energy going at our home, which I object to. The whole point of a National Grid etc, is to provide energy at an affordable price, so you don;t have to become self-sufficient, but here we are. So it turns out, me avoiding an EV for other reasons, was just as well. I cannot afford the sort of insurance prices, that normally are reserved for 19-year-olds with a Golf Tdi. Pension won’t stretch. As it is, my hybrid insurance has doubled, and my view FWIW, is it’s the floods. They could try hitting homeowners, but that alone would be crazy premiums, so here we are with doubling or more, of car policies. Take care all, have a decent 2024 as much as you can, and batten down those financial hatches.

[thepuddlejumper]

We won’t have private cars in the future, that’s their end goal and it seems to be going to plan with initial forced ev purchase for those that can afford them.

[jackburtonstwin]

I think the electric Utopia is rapidly heading for the buffers. Insurance, servicing, infrastructure, charging costs and, at some point, greedy governments will seek to tax these cars as they currently tax petrol / diesel vehicles (because they revenue stream is not going to replace itself for them).

[golfmaniac]

The problem is it will raise the price for ICE vehicles also. If an insurance provider is losing money on one portion of the business, they will make it up on others.

[NerdInMotion]

Smug EV owners will just deny this video has any facts and will just pretend it's all ok.

[RobertKohut]

As fires increase and affect homes, I'm sure it will affect the homeowner insurance as well.

[johnspark]

Speed bumps, the planned scourge of driving in Co Durham. I call them spring breakers. They were introduced as speed control but really they are there to make driving a pain in the arse and expensive for drivers. The authorities are anti car/driver and using every method to give them grief. Its all part of the great reset, which is against the common person.

[markstarmer]

I think most of us will stick to petrol / diesel for the foreseeable future. Cheaper motoring, insurance, no stress looking for and waiting bloody hours to get charged.
Remember, not everyone has a drive, or can charge up at work.

[greathey]

EV is a timing bomb costwise. I bet on that long time ago and no friend of mine believed me

[corringhamdepot]

Reading comments on other videos today, it appears that UK car insurance premiums are up across the board. The cost of EV repairs not only hits EV drivers, it also affects ICE drivers who have an accident with an EV. So we all end up paying more for insurance to subsidise EV drivers.

[eudaenomic]

Push for Tesla insurance for your area, state or country. Battery casing damage is the problem, not necessarily the cells. If the cooling oil escapes the cell casing, the batteries over heat and cause a severe (deadly) fire hazard

[arktom]

Your videos are always the best💯 I do receive a notification each time you post a new video.. We'll have regrets for things we did not participate in...Investment should always be on any creative man's heart for success in life.

[joeschlepp]

same thing happening in Canada with EV's. it's all a huge scam.

[simont]

Surely the access to the vehicle's battery management system should only be a plug in diagnostic port as with ICE vehicles and therefore would be within the capital expenditure tool budget of even independent repairers. You are right in pointing out that the manufacturers are operating a "closed shop" system.

[terryb]

The damage shown was on an Ionic 5 and it was not a speed bump. The Gentleman was driving on a highway when he hit a piece of debris probably part of a tractor trailer tire tread recap as this is the most common loose item to hit on British Columbia highways.

[RomanticTuna]

I have a diesel, petrol and an EV. The EV is fun to drive and a nice car (company car), but I very quickly discovered how bad national recharging infrastructure is and the impracticality of using it for journeys over 250 miles. Add to that the ridiculous cost and the issues with the batteries, the expense of insurance and this will never be a "green" solution.