After a prosperous period, electric cars should face a certain lack of interest among drivers in 2024. The fault is a lower ecological bonus, the increasing price of electricity and a drop in production on the part of manufacturers. However, electric vehicles have many advantages over their thermal counterparts.
If electric cars are generally more expensive to purchase, they make up for it in their cost of use which is often lower. Despite the increase in the price of electricity, electric vehicles cost less on average to maintain and insure. For now ! Insurers are becoming more and more dissatisfied, to the point of turning away from electric cars. And it is the motorists who risk toasting.
Electric car insurance prices, facing an exorbitant increase?
If electric cars are generally cheaper to insure than their thermal equivalents, this may soon be history. For insurers, an electric vehicle is a real cost. Depending on the model, their repairability really leaves something to be desired. Indeed, some manufacturers require the entire battery to be changed as a safety measure once the airbag has been triggered. Even if it is not damaged. Prevention is better than cure, that’s for sure. But that doesn't make at all pleasure for insurers since this represents thousands of euros to be taken out.
In addition, it can be complicated to obtain certain spare parts (not to mention their cost) while the repair for body parts is often more expensive than for thermal models. All of these elements put together really do not suit insurance companies. Certain models of electric cars are already refused by insurers, particularly cars from China. But not insuring certain electric vehicles is not everything. What solution should we adopt to deal with these colossal costs for insurers? Significantly increase their prices in order to get by financially. And we imagine that motorists will really not like that.
Therefore, manufacturers will probably have to review their rules and take insurance companies into account if they do not want to see their models in their crosshairs. Because a car that cannot be insured, or that can be insured but only at a huge price, is almost unsaleable. There is therefore a risk of change among electric car manufacturers.
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