EV Owners Facing Soaring Insurance Costs

From NOT A LOT OF PEOPLE KNOW THAT

By Paul Homewood

My heart bleeds for this planet saving hero!!

image

Driving an electric car should be a win-win, saving money and the planet. So David* was shocked when the insurance on his Tesla Model Y came up for renewal, and Aviva refused to cover him again, while several other brands turned him away.

When David did secure a new deal, the annual cost rocketed from £1,200 to more than £5,000.

“My insurer was Aviva from July 2022 to July 2023, but when it was coming up for renewal, I received a letter stating that they would not be covering the Tesla Model Y any more,” David says. “I am a member of a Tesla UK owners forum, and lots of other people seem to be having the same issue.”

In the Facebook group, members share stories of horror renewal quotes, with increases ranging from 60% (up to £1,100) to a staggering 940% (a jump from £447 to £4,661, according to a screengrab shared by one driver).

“I spent weeks on every comparison site as well as trying individual insurers and specialist brokers, but either they wouldn’t cover the car or the quotes were £5,000 or more,” says David, whose only change in circumstance was three points on a licence.

Privilege, Vitality, Axa and the specialist broker Adrian Flux were among the brands he found were “unable to insure him at this time” before he nailed down a policy with Direct Line, albeit at a price.

“The best quote I could get was from Direct Line at £4,500,” he says, adding that the total cost exceeded £5,000 once the interest for paying monthly was included, “because who has got that kind of money in one go?

But it is not only owners of Model Ys – which with a starting price of about £45,000 was the bestselling electric car in the UK last year – who are finding that, like the government, insurers are wobbling about the cost of net zero.

Alex Gerlis, who bought a Smart EQ Forfour last year, had insurance from John Lewis Finance but, before the mid-August renewal date, it advised him it would not be able to offer a renewal because it was not insuring electric cars

It comes as all motorists face soaring insurance costs, with prices said to be at an all-time high. A recent cost of living bulletin from the Office for National Statistics revealed that the price of car insurance – which for many Britons is one of their biggest household bills – is up by 52.9% in the last 12 months.

However, this average masks bigger increases for electric car owners, according to Confused.com. Its figures, derived from quotes, show that insurance premiums for electric vehicles are 72% – or £402 – higher than this time last year, at a typical £959. Meanwhile, for petrol and diesel car drivers, the increase is 29%, or £192, taking the figure to £848.

https://www.theguardian.com/money/2023/sep/30/the-quotes-were-5000-or-more-electric-vehicle-owners-face-soaring-insurance-costs?CMP=oth_b-aplnews_d-5

I have no sympathy for these fools, who have been more than happy to taxpayer subsidies for their cars and avoid paying thousands of pounds in fuel duty, and then preen themselves under the illusion they are saving the planet.

The trouble is that all of this is coming our way as well in the not too distant future.

4.9 24 votes
Article Rating
112 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
atticman
October 4, 2023 2:03 am

Dare I say, “Serves them damned well right!” ?

Energywise
Reply to  atticman
October 4, 2023 2:14 am

Some people need to touch the flames, before they realise it’s hot – the virtue signalling classes are not bestowed with much common sense, their reality is somewhere in the matrix

Bryan A
Reply to  Energywise
October 4, 2023 6:50 am

Buck up and make a choice…

An ICE for £25,000 or a Y for £45,000
The ICE will cost you up to £100 weekly in petrol…but…
The Y will cost you up to £100 weekly in insurance

Also the ICE will cost £1000 for tyres every 80,000 miles while the Y will be £1000 every 20,000 miles

AGW is Not Science
Reply to  Bryan A
October 4, 2023 7:49 am

The way I drive, the ICE car tires last more like 30,000 miles, and I doubt that I would get 7,000 miles on an EV’s tires. 😬

Energywise
Reply to  AGW is Not Science
October 4, 2023 12:45 pm

Battery car tyres burn well during the self combustion process creating further toxic pollution

MarkW
Reply to  Bryan A
October 4, 2023 8:36 am

The biggest reason why EVs cost less drive is because the government doesn’t tax them road use taxes.
However every government that I am familiar is working on closing that hole.

Energywise
Reply to  MarkW
October 4, 2023 12:47 pm

If the masses ever buy into battery cars, taxes will rocket

wilpost
Reply to  Bryan A
October 4, 2023 9:05 am

The Unseen/Overlooked Emissions: Tire Dust and the Environmental Mirage of Electric Vehicles
Charles Rotter

https://www.thedrive.com/news/tire-dust-makes-up-the-majority-of-ocean-microplastics-study-finds

Just when we thought we had a grip on the major culprits of pollution, a new villain emerges from the shadows.

And this time, it’s not the ominous black smoke billowing from exhaust pipes or the industrial chimneys spewing toxins into the atmosphere.

No, it’s something far more inconspicuous, yet equally, if not more, detrimental: tire dust.

A recent article from The Drive sheds light on a rather overlooked aspect of vehicular pollution.

While the world has been fixated on tailpipe emissions, a silent perpetrator has been wreaking havoc, largely unnoticed.

The article states,

“Scientists have a good understanding of engine emissions, which typically consist of unburnt fuel, oxides of carbon and nitrogen, and particulate matter related to combustion.

However, new research shared by Yale Environment 360 indicates that there may be a whole host of toxic chemicals being shed from tires and brakes that have been largely ignored until now.”

Dennis Gerald Sandberg
Reply to  Bryan A
October 4, 2023 9:25 am

Not to mention opportunity cost including depreciation.

Robertvd
Reply to  Bryan A
October 5, 2023 1:03 pm

All premiums will go up because you driving an ICE can have an accident with an EV and you are to blame for the collision. Your company must now pay for the new EV battery.

michel
Reply to  atticman
October 4, 2023 4:39 am

Its not ‘them’, its everyone in the UK. In another five years most cars sold new will be EVs. They will cost more, new or used. They will take five times as long to refuel, and will have to be refueled more often because of limited range. Then, they will cost more to insure. When the only thing you can buy new, and almost the only thing you can buy used, is EV, then its no longer serving ‘them’ right, its serving everyone right who did not take effective political action to stop this madness.

Scissor
Reply to  michel
October 4, 2023 4:56 am

The WEF and Klaus Schwab have openly stated that they want to eliminate private auto ownership. They want to turn highways into parks (probably cemeteries more like it).

If we want to confront fascist threats, Klaus should be high on that list.

Robertvd
Reply to  Scissor
October 5, 2023 12:50 pm

Nazi not Fascist. There is a big difference between the two.

Dave Andrews
Reply to  michel
October 4, 2023 9:23 am

Michel, I’m not so pessimistic.

According to the IEA at the end of 2022 there were still less than 20m EVs worldwide. This compares to 1.4 bn ICEVS.

In the UK there are over 33m cars of which just over 1m are all types of EVs (RAC).

In Feb 2023 the AA surveyed 15,000 drivers and found 18% planned to buy an EV next down from 25% in 2022.

Most EVs in the UK are being bought as fleet cars and we are already seeing that insurance costs for EVs are rising fast whilst the second hand EV market is stagnating.

Around the world EV manufacturers are struggling to make a profit. Even in China where more than half the EVs in the world are on the road manufacturers have had to reduce prices to try and shift stock and the Chinese Government has had to reintroduce tax breaks to buy EVs at a cost of £56.9bn till 2027.

I believe the government, of any colour, will have to revise current policy in the face of the facts.

JamesB_684
Reply to  Dave Andrews
October 4, 2023 10:34 am

Government is insulated from real world consequences and remarkably resistant to facts and reason.

Robertvd
Reply to  JamesB_684
October 5, 2023 1:05 pm

Vote for different people.

michel
Reply to  Dave Andrews
October 4, 2023 12:53 pm

I hope you are right. But the reason for pessimism is that the thing has huge momentum behind it. Car companies are planning their supply chains, charge points are being built out. Fewer than will be needed, but they are being built. Taxes are already, as in company cars, being adjusted to promote EVs, and more measures will follow. I greatly doubt it will be stopped.

Robertvd
Reply to  michel
October 5, 2023 1:39 pm

If 95% of the population can no longer afford a car why built all that infrastructure? And what about trucks? What kind of infrastructure will EV trucks need ? Of course it will stop because it is not sustainable in its current form. Only if batteries become much cheaper and with at least a 1000 km range and fast charging (15min max) I see a future.

bobpjones
Reply to  Dave Andrews
October 6, 2023 5:46 am

From, those few simple stats, you’ve provided. Has to prompt the question, if all ICEVs are replaced with BEVs, where will the materials come from? Apart from the lithium situation (apparently, China has acquired Bolivia’s output). There is the question of rare earth metals, most of which reside in China. I just don’t see enough of those metals being present to completely rebuild the global transport fleet. Eventually there will be the problem of supply and demand.

I think, the ultimate solution will be hydrogen ICEVs. I accept that H has lots of issues, but I think it will be a case of ‘needs must’. And of course, the vehicles can be built without increasing demand for those rare metals.

Jeff Alberts
Reply to  bobpjones
October 7, 2023 8:39 pm

From, those few simple stats, you’ve provided.”

Channeling Capt Kirk?

Energywise
Reply to  michel
October 4, 2023 12:48 pm

Battery cars will never be ‘the most sold’

michel
Reply to  Energywise
October 4, 2023 12:59 pm

I think they will. In 2030 all car manufacturers must sell 80% of their output as EVs or pay huge fines on every ICE car over the limit of 20% that they sell.

Its entirely a question of the will of the government of the day. If they decide to keep on with the program, 80% of new car sales in 2030 will be EVs. And this will mean there will be fewer and fewer ICE cars for sale, first new, and then used.

Remember too, that a government can easily take steps to make ICE cars essentially unusable. Raise road tax. ULEZ zones. Ban them from cities. Local councils are already taking local initiatives, and these can be manipulated by conditions on central government grants. Who is going to buy something that has been made super expensive to run and not usable for half the things people buy cars for? A few will. The rest will either not buy anything or settle for whatever EV they can manage.

Its fairly easily done, and at the moment the thing has so much momentum that the odds favor it being done.

Robertvd
Reply to  michel
October 5, 2023 1:42 pm

If the public has nothing more to lose they will lose it.

Bil
Reply to  atticman
October 4, 2023 9:31 am

There are reports of fights at motorway service stations as there are very few charging points and the grid can’t support more. Almost popcorn time.

Robertvd
Reply to  Bil
October 5, 2023 1:44 pm

Now imagine EV trucks using that same station.

atticman
October 4, 2023 2:07 am

Now wait for the government to tell the insurers that they can’t do that and the insurers to start offloading the extra premiums on to those of us who drive IC vehicles… You read it her first!

Energywise
Reply to  atticman
October 4, 2023 2:19 am

They will be coerced into doing so by Govt pressure to try and deflect some negativity from battery car costs and to help nudge (force) more people into them as the resultant enforced cost differential lessens
For me, the costs are prohibitive, but the battery technology, safety risks and operational fails are more so

Scissor
Reply to  atticman
October 4, 2023 4:45 am

There is only so much debt that governments can carry before they can’t carry anymore and something in the financial industry breaks.

Real tipping points will then be reached and reality will be visible for all to see. EVs will fill their niches and governments will begin anew to fulfill their true subservient roles.

One can hope.

michael hart
Reply to  Scissor
October 4, 2023 5:41 am

I recall hearing about a Californian law last century mandating zero-emission vehicles by some date (I can’t remember it might have been 1990 or 2000).

It didn’t happen then because it couldn’t. That is still true today.

Bil
Reply to  atticman
October 4, 2023 9:32 am

Already happening. Car insurance premiums for my ICE cars have gone up 10% this year.

Robertvd
Reply to  Bil
October 5, 2023 12:57 pm

Why ? Because you could have an accident with an EV and it’s your fault. Your company now has to pay the new EV battery.

mikelowe2013
October 4, 2023 2:09 am

Such good news for those of us sufficiently technically- literate enough to resist the temptation to join in the virtue-signaling! How ironical that our saviour may become those leaches in the motor insurance racket who we would normally despise! Hopefully all those insurers will blockade the EV-owners!

Energywise
Reply to  mikelowe2013
October 4, 2023 2:26 am

I hope so, however, many globalist elites are embedded in the whole nut zero con, they won’t roll over so easy – they are more inclined to force insurers to add additional costs to ICE vehicles to make battery cars seem at least comparable on cost – of course, the other 45 issues with battery cars cannot be so easily fudged
The only ways these will be stopped, are either multiple deaths or property write offs from self combusting batteries, or the masses simply saying no and refusing to invest in them

Energywise
October 4, 2023 2:11 am
strativarius
Reply to  Energywise
October 4, 2023 2:30 am

There’s a role for Keanu Reeves!

Bil
Reply to  strativarius
October 4, 2023 9:34 am

Saw an electric Mustang at an agricultural show recently. Just why? Where’s the muscle? Tractors were far more interesting

strativarius
October 4, 2023 2:28 am

“because who has got that kind of money in one go”?  Someone who can afford an extra £10k+ for an EV model?

“avoid paying thousands of pounds in fuel duty”

Not to mention vehicle excise duty, eh. But what about the cost of the environmental damage EVs can cause…

“Putting out an EV fire demands large amounts of water, around 1,125 litres a minute. This is water that can become contaminated with soot and chemicals and run off into public drainage systems. 

During an electric vehicle fire, over 100 organic chemicals are generated, including some incredibly toxic gases such as carbon monoxide and hydrogen cyanide – both of which are fatal to humans.”
https://www.ife.org.uk/IFE-Blog/tackling-fires-in-electric-vehicles-

One thing I have noticed, being at the epicentre of the EV push is how tight fisted EV owners are.  Around the corner the council installed 4 bays with high[er] speed charging and they are exempt from parking penalties. Outside my house in the street there is a charging point on a lamp post. Charging there is not exempt from parking penalties.

Can you guess which chargers are in demand? The cheap lamp post option. You only see an occasional Tesla on the fast chargers. Don’t these people realise signalling virtue comes at a price?

Energywise
Reply to  strativarius
October 4, 2023 2:52 am

Those rapid chargers degrade battery life, if used regularly, you’ll be forking out for a new battery much sooner

strativarius
Reply to  Energywise
October 4, 2023 3:17 am

I still think price has something to do with it. It’s a lighting circuit, so a charge is going to take around 8 hours or more.

The council has declared a climate emergency and unveiled ambitious plans to tackle climate change.”
https://www.wandsworth.gov.uk/news/news-august-2023/major-expansion-in-ev-charging-infrastructure-in-wandsworth/

VSM
(Virtue Signalling Morons)

DavsS
Reply to  Energywise
October 4, 2023 10:17 am

If you have the car on a three-year lease or personal contract plan (which will likely be the majority of private buyers as not many private new car sales are cash buys), and certainly if it’s come via some kind of company plan, then who is going to care if the battery is on course to be cooked in four years (or whatever) because of excessive fast charging? It’ll be the mug who buys it second hand who picks up the tab.

Ron Long
October 4, 2023 2:48 am

Add the Insurance Penalty to the other EV issue being exposed in the US Autoworkers strike. It takes (reportedly) 40% fewer workers to construct an EV as compared to traditional ICE vehicles. The hits just keep on coming.

Energywise
Reply to  Ron Long
October 4, 2023 2:53 am

The leftist idiots haven’t quite woken up to the fact that they will also be stitched up proper by nut zero

DavsS
Reply to  Ron Long
October 4, 2023 10:25 am

On the plus side there will be a need for more firefighters. A GeoffBuysCars video posted on YouTube today describes the outcome of an EV van left recharging outside a house last night which caught fire and nearly took the house with it. Five or six fire & rescue vehicles ended up at the scene which is, I suspect, rather more resources than would have been necessary for an ICE vehicle fire.

rovingbroker
October 4, 2023 3:08 am

Is this UK only? If so, why?

Peta of Newark
Reply to  rovingbroker
October 4, 2023 3:37 am

A rebirth of Puritanism and self-flagellation.
Allied to the fact, as hammered into every schoolchild from the moment they learn to read is that:
All motorists are = Toads, insanely Rich Toads to boot.
Thank you Kenneth Graham and the complete disappearance of the GSOH
(that’s where all the babies went too)

Thus for car-drivers: No amount of insult & mistreatment towards such ugly, rich, flamboyant, lazy, property-owning hideosoties is off limits.

Sigh yes: The trouble is that all of this is coming our way as well in the not too distant future.
(for reasons outlined above.)

But but but, there is hope…
EpochTimes headline:””Government Says It Will Clamp Down on ’15-Minute City’ Schemes in England

Peta of Newark
Reply to  Peta of Newark
October 4, 2023 4:00 am

I haz EV – I paid £150 cash off eBay

Costs me £120pa to insure, £70 of which is the broker’s fee/charge and £13 is tax

Complete with home-built LifePo4 battery, covers 1 mile on 50Wh and does (according to the haha Chinese) speedometer 60mph

That did seem a ‘little optimistic‘ and calibration via a Sat-Nav and GoogleMaps assured me that 25mph is The Absolute Limit
(The controller/governor is within a sealed block of epoxy resin)

I also haz ‘Ye Solare Celles’ so electric costs = £Zero

Going up hills is ‘not quite its strongest point‘ but out here on The Cambridge Fen (where anything more than 3ft tall is = A Mountain) and on the quiet country roads and back-lanes, it is in its element.
just like me

And around town it keeps up with anything/everything.

Peta EV.JPG
atticman
Reply to  Peta of Newark
October 4, 2023 4:23 am

Could the controller/governor be re-programmed for higher speed?

strativarius
Reply to  atticman
October 4, 2023 4:40 am

In the case of Rad Bikes (Netherlands) yes and quite considerably

https://radpowerbikes.co.uk/

wilpost
Reply to  Peta of Newark
October 4, 2023 9:07 am

Does not work for older people, but they are expendable by giving then COVID shots until they die.

Bryan A
Reply to  Peta of Newark
October 4, 2023 10:13 am

Perhaps the speedometer is a misprint and should be KPH instead of MPH. Unless your affirmation revealed a speed in the 25 range displayed

paul courtney
Reply to  rovingbroker
October 4, 2023 7:55 am

Mr. broker: Aren’t you one of the EV promoters here? Is it possible that you are not well-informed on the downside of EVs? If you actually wonder if it’s UK only (the John Lewis Insurance story comes from AU, I believe), you can look it up, but it might expose you to a downside, EV isnsurance is spiking everywhere to the surprise of nobody. Also no surprise that you and other EV enthusiasts avert your eyes from any negativity on the subject. Thanks for confirming your purposeful ignorance.

2hotel9
October 4, 2023 3:46 am

Stupid has to hurt, make stupid hurt and keep it hurting till stupid people stop being stupid.

strativarius
Reply to  2hotel9
October 4, 2023 6:06 am

Was Gaius Mucius Scaevola stupid?

2hotel9
Reply to  strativarius
October 4, 2023 1:47 pm

Did the twat buy an EV? 😎

Joseph Zorzin
October 4, 2023 3:47 am

Maybe the AI in the car was trying to make an escape? 🙂

Joseph Zorzin
Reply to  Joseph Zorzin
October 4, 2023 3:51 am

that post was meant to be in reply to Energywise’s link to a story about a guy kidnapped by his car

AGW is Not Science
Reply to  Joseph Zorzin
October 4, 2023 8:45 am

“I…HATE this place…” – Agent Smith, The Matrix (II or III)

michel
October 4, 2023 4:29 am

From January 1 2024 in the UK 22% of new cars sold will be EVs, rising to 80% in 2030.

The unintended consequences of this are only now gradually becoming apparent. They will be huge.

Bryan A
Reply to  michel
October 4, 2023 10:16 am

Sounds like by 2030 80% of drivers will be uninsured and the crown will lose out on insurance taxes

AGW is Not Science
Reply to  michel
October 4, 2023 10:33 am

Maybe 22% of new cars FOR SALE might be 22%, but I doubt 22% of what is SOLD will be EVs, UNLESS there is a massive ENFORCED REDUCTION in ICE sales.

95% of US vehicle sales are ICEs, despite all the Eco-Nazi efforts to shove EVs down everyone’s throats.

All they’re going to accomplish is the destruction of the auto industry.

AGW is Not Science
Reply to  AGW is Not Science
October 4, 2023 10:34 am

Might be EVs -really need “edit” back.

michel
Reply to  AGW is Not Science
October 4, 2023 1:10 pm

If a manufacturer sells more than the allowed percentage, each ICE car over the limit attracts a fine of (from memory) 15,000 sterling. I am not totally sure of that number, but recall thinking that it was large enough to be a real deterrent.

The ICE cars will not be available for sale. Its going to be, buying new, EV or nothing. Or buy used. And after 2030 when 80% of cars on sale will be EVs, ICE will quickly start to vanish from the used market too.

Agreed that the likely result of this is going to be a dramatic shrinkage in car ownership and car sales and the auto industry. It will have lots of unforeseen consequences throughout society and the economy. But its coming. There is no sign yet that any UK political party is for changing. In fact the Labour Party has said they would reinstate the 100% EV rule from 2030, which is what Sunak just relaxed. But he only relaxed it a fraction, because he kept the 80% rule on the manufacturers.

Energywise
Reply to  michel
October 4, 2023 12:51 pm

No chance

Tom in Florida
October 4, 2023 4:38 am

The final nail will be when insurance companies exclude EV fires from home and life insurance policies.

Graemethecat
Reply to  Tom in Florida
October 4, 2023 5:30 am

I would not be surprised to see Eurotunnel and the Channel Ferry companies refusing to take EV’s in the near future.

strativarius
Reply to  Tom in Florida
October 4, 2023 6:09 am

“”when insurance companies exclude EV fires from home and life insurance policies.””

The Final Nail told you that?

Tom in Florida
Reply to  strativarius
October 4, 2023 2:00 pm

Of course not, but I am glad you realized my play on words.

Bob Rogers
October 4, 2023 4:42 am

How much does a 3 point violation add in the UK? I got a 3 point violation in the US in the 1990s and it added more than $5000 a year to my insurance for 3 years.

strativarius
Reply to  Bob Rogers
October 4, 2023 6:10 am

You can get up to 12 points on a U.K. licence then it’s revoked

Steve Case
October 4, 2023 4:54 am

The electric car industry needs to solve the fire problem.

observa
Reply to  Steve Case
October 4, 2023 8:16 am

The explosive fire problem with lithium batteries will kill the EV industry and the messenger will be the insurance underwriters-
Charging e-bike likely cause of Coventry tower block fire – BBC News
Lithium-ion battery from e-bike believed to be have sparked Potts Point hostel fire – ABC News

These battery fires particularly with video are becoming very newsworthy and the mainstream media cannot resist displaying them-
E-bike reignites showering sparks and shrapnel at Seaford Meadows | A 7NEWS crew was nearly showered with sparks and shrapnel after an e-bike reignited after an earlier incident at Seaford Meadows. The crew was… | By 7NEWS Adelaide | Facebook

EVs are simply bigger incendiaries and as they proliferate and band together the outcomes will be more horrific to the point they won’t be tolerated. The climate changers have backed a loser with lithium battery transport and the insurance industry is sensing it right now.

AGW is Not Science
Reply to  Steve Case
October 4, 2023 10:36 am

All they need to do is get rid of the batteries. D’oh!

michael hart
October 4, 2023 5:32 am

Nothing much new here. An expensive car with the performance of a Ferrari always was expensive. Insuring sports cars was always to be considered as a large extra expense to purchase price.

I suspect that insurance companies were far behind the curve with electric cars. They probably believed the manufacturers advertising about the performance of the batteries over their lifetime plus replacement costs and fire risk.

Retiredinky
Reply to  michael hart
October 4, 2023 6:22 am

In the US – I bought a new gas powered Corolla and was amazed at the jump in the cost of insurance from my older gas powered Camry. New + inflation is staggering us.

wilpost
Reply to  Retiredinky
October 4, 2023 7:47 pm

Biden’s federal deficit spending will be about $2 TRILLION in Fiscal 2023
If you think that pump-priming is not inflationary, I have a bridge I want to sell you…

ResourceGuy
Reply to  wilpost
October 6, 2023 7:27 am

The IRA and other unnecessary stimulus programs were all another name for MMT. It’s all about packaging.

MarkW
Reply to  michael hart
October 4, 2023 8:45 am

Insuring EV’s has always been more expensive because of the higher sticker prices.
Nothing new there. This is on top of that.

wilpost
Reply to  MarkW
October 4, 2023 9:16 am

EV sticker is 1.5 times equivalent gasoline
EV insurance is 3 to 4 times equivalent gasoline

THE ADDITIONAL COST WIPES OUT ALL ENERGY COST SAVINGS, but the much higher monthly car payments remain for at least 8 years.

EV owners have soooo screwed themselves, because on an A-to-Z (MINE TO JUNKYARD/RECYCLING), lifetime basis, the LIFETIME CO2 of an EV is about the same as for an EQUIVALENT, EFFICIENT, GASOLINE CAR

Rod Evans
Reply to  wilpost
October 4, 2023 10:16 am

Look on the bright side, no EV driver is worried about their EV being stolen.

wilpost
Reply to  Rod Evans
October 4, 2023 7:42 pm

If you live in dysfunctional, democrat-run Los Angelos and New York, infested with gangs that just walked over the border UNVETTED, the chance of having your EV stolen is less than for a gasoline car.

The reason is, wherever those people came from, they were not brainwashed about the wonders of EVs and they likely never heard of Net Zero by 2050.

OMG, they do not know what they are missing

It looks like the UK is very quickly abandoning its Net Zero targets, because the UK has finally realized those targets are totally unaffordable, such as building 36,000 MW of offshore wind turbines in the North Sea by 2030.

That target is even more extreme than Biden’s 30,000 MW of offshore by 2030.

US/UK 66,000 MW OF OFFSHORE WIND BY 2030; AN EXPENSIVE FANTASY   
https://www.windtaskforce.org/profiles/blogs/biden-30-000-mw-of-offshore-wind-systems-by-2030-a-total-fantasy

observa
Reply to  michael hart
October 4, 2023 9:43 am

Fair observations michael which makes Tesla doubly vulnerable you’d expect.

paul courtney
Reply to  michael hart
October 4, 2023 11:27 am

Mr. hart: Yes, expensive sports car = high insurance cost, but that’s only one factor, and insurance companies might have known that the tesla Y is an expensive sports car. But you are missing the factors that insurers are now seeing, total loss due to bumping the bottom, or a ding on the side panel. The fire risk has them losing sleep in underwriting, and it wasn’t clear when they rolled out the Tesla. There is much new here, all bad for EV future. We are past peak EV.

Tom in Florida
Reply to  michael hart
October 4, 2023 2:09 pm

Insurance actuaries need a longer term to assess the risk that may need to be covered. As that data becomes available and more refined, the premiums will reflect the cost of payouts covering the risk. Presently because of limited data and time, I believe that insurance companies will overstate the risk so as not to be caught with losses that may become more frequent. As always, they aim is not to lose money which is bad news for EV purchasers.

October 4, 2023 8:22 am

Driving an electric car should be a win-win, saving money and the planet. So David* was shocked when the insurance on his Tesla Model Y came up for renewal, and Aviva refused to cover him again, while several other brands turned him away.
When David did secure a new deal, the annual cost rocketed from £1,200 to more than £5,000.

great opportunity for Tesla to make more money.

selling extended warrenty AND insurance to boot.

Look no matter what negatives you can manufacture for EVs, fact is, you cant stop them and every so called problem is just $$ making in disguise.

observa
Reply to  Steven Mosher
October 4, 2023 9:24 am

You’re wrong on that Steven. Lithium battery EVs will be as big a fallacy of composition problem with transport as unreliables are to electricity grids. Sell Tesla, BYD, etc and buy Toyota with NiMH hybrid technology is my advice unless the EV industry can fix the lithium battery incendiary problem pronto. You sound like an aluminium cladding denier.

Bryan A
Reply to  observa
October 4, 2023 10:25 am

I might avoid the hybrids so long as the elimination of FF remains a probability. All you would wind up buying with a PEHV is a car limited to 33 miles and no gas for extended range.
A gilded golf cart.

observa
Reply to  Bryan A
October 4, 2023 7:58 pm

Toyota’s world leading hybrids make excellent economic sense for predominant stop/start urban driving which is why Toyota has such a long factory order book with no discounting. The consumer knows best in that regard with bang for buck fuel economics and no need for the typical jackboot and slushfunding like EVs.

Bryan A
Reply to  Steven Mosher
October 4, 2023 10:22 am

You certainly can’t stop them…so long as they’re Mandated by Government Edict and forced down your throat. But if left to pure competition they would still be limited to driving around the Golf Course and not on freeways or city streets

paul courtney
Reply to  Steven Mosher
October 4, 2023 11:03 am

Mr. Mosher: Congratulations, you have joined yet another cult. EV enthusiasts can’t handle negatives, so they (you) say the negatives are manufactured by us, and they are just “so-called” problems anyway. Your prediction is noted. Please allow me. Tesla will collapse by 2033 due to a Tesla fire producing many deaths, like a Titanic moment. It’ll be a sudden collapse. It should be a slow collapse due to costs like insurance getting out of control, but rich kids like you will still believe for awhile longer, until the fire that will be known as “The Tesla Fire”. Mark it down.

aussiecol
Reply to  paul courtney
October 4, 2023 11:55 pm

An EV fire on a car ferry with a thousand passengers is a real concern.

old cocky
Reply to  Steven Mosher
October 4, 2023 3:38 pm

 no matter what negatives you can manufacture for EVs, fact is, you cant stop them

Yep, Energywise posted a link to that a bit further up – https://www.dailymail.co.uk/news/article-12592047/Driver-kidnapped-electric-car-Glasgow.html

MarkW
Reply to  Steven Mosher
October 4, 2023 4:09 pm

Multiple problems with your reality free ramblings.
EV’s don’t save money. They are much more expensive, and these new problems with insurance just increase these losses.

So you are of the opinion that insurance companies are part of the conspiracy to to torpedo EVs. Really, do you have any evidence to support such a position.
The voices in your head don’t count.

Pointing out the many, many problems with EVs is hardly manufacturing negatives, though I’m sure those who sign your paychecks tell you otherwise.

Hysteria
October 4, 2023 8:54 am

As predicted by us here and elsewhere for well over a year now….

ResourceGuy
October 4, 2023 9:09 am

But but they told me how great it was without these details.

Dennis Gerald Sandberg
October 4, 2023 9:22 am

Democrats will see the unfairness in discriminating against BEV’s by raising insurance rates on planet saving vehicles. Legislation will solve the problem.

Janice Moore
Reply to  Dennis Gerald Sandberg
October 4, 2023 9:58 am

Democrats will see [lie about] the unfairness

(not directing this at you, Mr. Sandberg — rather, at anyone who agreed with the underlying assumption of “unfairness” in your statement)

EV’s are:

1) impossible to extinguish when catch fire (lithium battery must simply burn out — only containment is possible and at an enormous cost of labor and water);
2) more likely to catch fire “spontaneously;” and
3) vastly more expensive to repair/replace in any event.

Therefore:

Not unfair. Simply data-driven insurance underwriting.

Bryan A
Reply to  Janice Moore
October 4, 2023 10:46 am

Yep, pretty much any incident that has the potential to affect the Battery could result in a total loss for Insurance

Tony_G
October 4, 2023 9:27 am

I searched for a similar story I read yesterday, and found several articles about this, and about insurance companies flat-out refusing to insure them.

ResourceGuy
October 4, 2023 9:36 am

Gee, at this rate people will start talking about what rooftop solar installs do to property tax assessments, sales tax, inverter replacement, and calls to scarce electricians.

Rod Evans
October 4, 2023 10:11 am

‘Oh dear, how sad, never mind’.

PariahDog
October 4, 2023 10:24 am

HA HA! – Nelson

nelson-bbpin.gif
paul courtney
October 4, 2023 11:14 am

Based on the lack of comment by our house EV enthusiasts, it appears they can’t lie their way out of (or around) insurance premiums as a negative for EV owners.

Bob
October 4, 2023 11:22 am

Cry me a river!

Gary Pearse
October 4, 2023 1:05 pm

Do the drivers know that this increasing insurance was also caused by gov end-of-world hype even before considering the special risks that plague ev batteries of electric cars. The article even mentions average 52% increase for ICE cars. Bogus Climate Change has also caused insurers of homes and everything else to jump up.

Bob
October 4, 2023 5:02 pm

Yeah I want the subsidies they got paid back also and any other incentives they received.

Joe Gordon
October 4, 2023 6:54 pm

Unfortunately, the next step is insurance companies lobbying the government for subsidies to cover these costs.

What’s another trillion or so on the national debt? Politicians love spending their great-grandchildren’s money. “We’ll save your future from imaginary climate demons… and we’ll pocket millions for ourselves in the meantime.”

observa
October 4, 2023 8:06 pm

The pincer between anxious insurers and Regulators comes for lithium battery transport-
ACCC calls for crackdown to stop lithium battery fires (msn.com)

Coeur de Lion
October 5, 2023 2:06 am

And what is being done about lorries in saving the urban atmosphere (if that was the point?)

observa
October 5, 2023 4:05 am
observa
October 5, 2023 11:52 pm

Story tip

Over to you climate changers and Covid nanny-staters-
Electric car charger ban recommended by owners corporation conglomerate (msn.com)
You want to save folks globally they were always gunna demand they be saved locally 😉

pigs_in_space
October 6, 2023 12:31 am

meanwhile in Venice the accident with an electric bus has made headlines.

MILAN (AP) — Italy’s transport minister is questioning the spread of electric vehicle technology following the fiery crash of a fully electric shuttle bus that killed 21 people in mainland Venice.

In France a comparative has found the costs of recharging an EV away from home exceeds that of a diesel car.

nice!

observa
Reply to  pigs_in_space
October 6, 2023 7:11 am

Meanwhile Crikey tut tuts Toyota with how to lift their game-
Trying times for Toyota: the changing face of Australia’s car market (msn.com)
The only reason Toyota’s Oz market share has slipped with overall record new car sales is because they can’t make their hybrids fast enough to satisfy demand for them.

%d bloggers like this:
Verified by MonsterInsights