πŸ†ŽNov 8, 2023

Lots of people have been moaning that EVs are expensive to insure.

Lots of the same people have been moaning about the residual value of EVs falling.

Mostly these people don't drive EVs.

And yet it has occurred to them that the latter leads to an improvement of the former.

As residuals fall, insurance like-for-like replacement values fall, meaning premiums fall.

Show threadbabelmonk 🐠
@bloor And insurance is going up across all vehicles. It's not uniquely an EV problem. Just a bunch of FUD happening right now.
Nov 8, 2023 at 11:30amWeb
Show threadSam J SharpeNov 8, 2023
@babelmonk @bloor can confirm. My non-EV insurance went up a lot this year, as did house insurance etc.
Show threadSteve Hill 🏴󠁧󠁒󠁷󠁬󠁳󠁿πŸ‡ͺπŸ‡ΊNov 8, 2023
@babelmonk @bloor Insurance always seems to vary *wildly* (sometimes by an order of magnitude) between insurers, which I have never understood - the risk profile doesn't change just because you change insurer.
Show threadSteve Hill 🏴󠁧󠁒󠁷󠁬󠁳󠁿πŸ‡ͺπŸ‡ΊNov 8, 2023
@babelmonk @bloor Oh, FWIW, when we bought it, insurance for our (at the time) 1 year old VW ID.3 was about the same as the insurance for my 18 year old Toyota MR2, so long as we shopped around. Which doesn't make a lot of sense to me, but it's a counter-point to "EVs are expensive to insure".