Tesla wants to sell insurance on 80% of its EVs by the end of 2022. The cost to insure an EV outruns its gasoline-guzzling cousins.
Not only are electric-vehicle sticker prices higher on average than comparable cars and SUVs with traditional internal-combustion engines , the cost to insure an EV outruns its gasoline-guzzling cousins.
“This relative inexperience with the potential full range of things that can go wrong or be replaced encourages insurers to hedge their bets against potentially large, but not-yet-experienced, payouts for claims,” he adds. “‘As EVs become increasingly mainstream and more insights become available, current insurance premium gaps may close.’”
The EV insurance market will continue to grow U.S. sales of new EVs, hybrid gas/electric and other types of plug-in hybrid vehicles surpassed 100,000 for the first time ever in mid-2021, accounting for nearly 9% of all new vehicle sales and doubling their share of sales versus a year earlier, according to industry-tracker Cox Automotive.
Tesla’s insurance offering is now available in Florida, Texas, Illinois, Ohio and California. The company hopes to have its coverage available to 80% of its U.S. customers by the end of the year, chief financial officer Zach Kirkhorn said during the company’s latest earnings conference call last month.
“Most EVs on the market today are luxury cars, which cost more to insure in general,” said Chris Harto, Consumer Reports senior sustainability policy analyst, in a guide on the CR site. Luxury has higher replacement value “regardless of whether they’re electric or gasoline-powered.” It’s also important to consider what kind of the multiple types of insurance — collision, liability, uninsured motorist, personal injury, medical payments and comprehensive, which covers hail damage or theft — are most suitable.
With gas prices hitting $4 per gallon, fuel savings and other factors kick in lowering the price of ownership over the life of the vehicle, but the insurance industry sees a chance to jump in the “green” movement as well.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Ford F-150 Lightning owners in California can use the EV to power homes | EngadgetThe automaker has teamed up with PG&E for a bidirectional EV charging project..
Leer más »
How to buy and install an EV home chargerBuying and installing an electric car home charger isn't always easy.
Leer más »
CERAWEEK As EV demand rises, Biden officials warm to new minesU.S. regulators are warming to approving new domestic sources of electric vehicle battery metals, as Washington bids to avoid a reliance on strategic minerals imports similar to that on crude oil.
Leer más »
Your next Uber ride will have an extra fee for gas — even if it’s in an EVHigh gas prices mean Uber fares will be more expensive.
Leer más »
At least 20 EV charging stations to be installed at Colorado state parks by end of the summerColorado Parks and Wildlife will install at least 20 electric vehicle chargers at state parks by the end of the summer, Gov. Jared Polis announced on Friday morning.
Leer más »
Tesla Set the Model for Selling EVs; Ford, VW and Others Want to FollowAuto executives view the pivot to EVs as a chance to modernize the entrenched way cars are priced and sold; dealers are wary, worried car companies are trying to muscle in on their business
Leer más »