Could EV insurance rates get even higher?

FC · 03-20-2023, 03:39 PM

I ran into this:

Scratched EV battery? Your insurer may have to junk the whole car

and considering I will be paying less to insure the BGTS than I used to for the eGolf 5 years ago, this could get pretty ugly. It has vibes of what I read about Elises back in 2005, when insurers started realizing that any damage required a new whole front end fiberglass shell and rates shot up.

How bad are Tesla rates?

JST · 03-20-2023, 06:31 PM

The premium on my Model 3 is substantially lower than the premium on the BMW.

Nick M3 · 03-20-2023, 07:43 PM

I think that the actual risk of battery replacement isn’t that high. Also, there are plenty of non-Tesla vehicles with super expensive parts. Look at the stupidly expensive LED assemblies on most cars now.

FC · 03-20-2023, 08:42 PM

Quote:

Originally Posted by JST

The premium on my Model 3 is substantially lower than the premium on the BMW.

Interesting. That's not too bad, then.

wdc330i · 03-20-2023, 09:07 PM

Quote:

Originally Posted by Nick M3

I think that the actual risk of battery replacement isn’t that high. Also, there are plenty of non-Tesla vehicles with super expensive parts. Look at the stupidly expensive LED assemblies on most cars now.

Yep.

SCA · 03-25-2023, 10:14 AM

The Rivian was the highest new vehicle premium I have ever had on my USAA policy. Fortunately, I only on that thing for two months.

ZBB · 03-26-2023, 12:57 PM

Just another data point... We have 2 Teslas on our insurance and no ICEs... The premiums are similar for both and I consider reasonable. It really hasn't gone up significantly lately...

03-20-2023, 03:39 PM	#1
FC Solving problems Join Date: Oct 2003 Carmudgeonly Ride: '21 GTI, '18 M3 ZCP, '13 LR4 Location: Metro Boston Posts: 24,486	Could EV insurance rates get even higher? I ran into this: Scratched EV battery? Your insurer may have to junk the whole car and considering I will be paying less to insure the BGTS than I used to for the eGolf 5 years ago, this could get pretty ugly. It has vibes of what I read about Elises back in 2005, when insurers started realizing that any damage required a new whole front end fiberglass shell and rates shot up. How bad are Tesla rates?

03-20-2023, 07:43 PM	#3
Nick M3 Relic Join Date: Oct 2003 Location: Bethesda, MD Posts: 12,289	I think that the actual risk of battery replacement isn’t that high. Also, there are plenty of non-Tesla vehicles with super expensive parts. Look at the stupidly expensive LED assemblies on most cars now. __________________ 2011 M3 2006 Sierra 2500HD 4WD LBZ/Allison 2004 X5 3.0i 6MT 1995 M3 S50B32 1990 325is 1989 M3 S54B32 Hers: 1989 325iX 1996 911 Turbo

03-26-2023, 12:57 PM	#7
ZBB Relic Join Date: Oct 2003 Carmudgeonly Ride: A very fast golf cart Location: The Valley of the Sun Posts: 12,739	Just another data point... We have 2 Teslas on our insurance and no ICEs... The premiums are similar for both and I consider reasonable. It really hasn't gone up significantly lately... __________________ ZBB

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