The MarketWatch Institute has published the results of a study on the price of car insurance. If unsurprisingly, insuring a Porsche, a Maserati or a Mercedes is very expensive, we learn that Teslas are also at the top of the basket.
The MarketWatch institute confirms the conclusions drawn by Assurland a few months ago: auto insurance for electric cars costs less, unless it’s a Tesla. In the United States, the owners of a vehicle of the American brand must indeed pay almost 75% more than others to insure their vehicle. To justify such an additional cost, insurers point to the main culprit: the electric battery.
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Batteries account for almost half the price of an electric vehicle. In the event of an accident, even a minor one, they are difficult, if not impossible, to repair. In other words, they are quickly scrapped, because repairing them is not profitable. That’s not likely to get any better, since Tesla’s new 4680 batteries are built into the vehicle’s structure, making removal and diagnostics far too difficult.
The price of auto insurance for a Tesla is way above average, and it’s not going to get any better
Moreover, as Reuters points out, an electric car must run for several thousand kilometers to compensate for the amount of CO2 emitted to produce its electric battery. Therefore, as a representative of Allianz insurance told the news agency, “if you send the vehicle to the scrapyard [au début de son cycle de vie], you lose all its benefits in terms of carbon footprint.
To the already high price of cars from the American brand, customers must add that of insurance, which is much more expensive than the average. The other car manufacturers have understood that there is an opportunity to be seized. So, according to MarketWatch, Volkswagen is one of the cheapest brands to insure. The German manufacturer is preparing to flood the market with no less than ten more or less affordable electric car models, including the ID. 2 or the ID. Golf, his first 100% electric car for less than €25,000.
Source : MarketWatch