ARE ELECTRIC CARS BECOMING UNINSURABLE? 

Thank you - this is the likely explanation right enough, and I appreciate the constructive comment rather than the “lol you don’t know how statistics work hahaha” others have managed.

@Russell - Thank you very much for that information. I never realised that insurance companies operated in the manner you described.

I wouldnt have thought that a Citroen Ami would be that popular a car to make underwriters not want the risk, if that were the case then cars like the small Fords ie the best selling cars would be uninsurable.

You need to take off the foil hat.

@@iangascoigne8231 have you replied to the wrong comment here or what? Of all of the batshit crazy comments on this video, this isn’t one of them

Ouch!

you are now paying for EV's going on fire and their cost of repair or no repair insurance companies are not about loosing money

EV's are not randomly bursting into flames like the click bait media would like you to believe. They are vastly less likely to catch fire. If any diesel for example has a vehicle fire , you can guarantee that car will be a write off. The replacement cost of say a BMW 5 series is comparable to an equivalent ev. Plus all modern cars are difficult to repair and much more likely these days to be written off. You can't blame EVs for a classic Land rover insurance going up 70 % that is far more likely to be insurance companies cashing in.

@@rico4229 no do your homework

@@pauldavies6037 Figures from Norway, where more than a fifth of cars on the road are electric, show that standard combustion engine vehicles catch fire around five or six times more often than EVs. Emergency services were called to around 30 fires per 100,000 standard cars on the road per year during 2018-2022, compared with around five EV fires per 100,000 vehicles, according to the data compiled by Robbie Andrew of the Cicero climate research institute in Oslo, using figures from the Norwegian Directorate for Civil Protection and Emergency Planning (DSB) and Statistics Norway.

Mate you should have done that 9 years ago, even if your premium doesn't go up with your current insurer you can always get a better price.

Loyal customers have and always will be ripped off by any company. Even your antivirus software provider for your PC will do the same, always cheaper for new customers or online.

Admiral? Mine trebles so I left

@voivod6871 it came as bit of a shock as it suddenly increased from £360 to just under £1,100. I phoned them and they either couldn't or wouldn't give a reason. I had max no claims, clean licence & live in a quiet rural area.

My sister had that issue. Even the call centre droid said "Well to be honest I totally agree with you" and he said he had no idea why her premium had utterly exploded, when a direct competitor was offering her the same cover at the old price. She was driving a middle-spec Audi A3 so we're not talking about a Range Rover or BMW M5 here. That was "Red Telephone" insurance and she moved to "Was-Norwich Union".

Yeah I just saw a guy whose EV battery died and he was told it would cost 50k to replace

Yeah quite possibly, penalising the lazy because it's easy money. I do find that they're okay for a few years and then really not though - as if they decide they've had enough.

They used to do that, they are now legally obliged to offer the same prices to new customers and renewals.

I found that my insurer had, by default, auto renew box ticked on my on line account, I also discovered the same for my wifes insurance. as you say they hope you will just pay up.

@@ModernHeroes “Lazy” ? What happened to “Loyal” ? That statement shows the type of thinking which leads to people treating each other badly. And charging them a lot of money out of greed. IMO.

@@RinpochesRose I think we’ve already established there’s no loyalty in insurance and hasn’t been for a long time.

why would anyone want to pinch a range rover ?

Surprised as Range Rovers spend more time being fixed than being stolen. 😂

What ever happened to fuel pump kill switches?

They should be easy to track. You only need a basic thermal camera or a native American Indian (to decipher the smoke signals) 🤣

What is your evidence that an EV is more likely to catch fire after an accident than an ICEV? References please.

@@williammeek4078 That's not the issue of major concern. I've personally witnessed a handful or so regular cars catch fire ... I once lived in an area of extreme high temperature and terrain that required full effort from gas engines. The fires, at a minimum, eventually did significant damage, and frequently destroyed the vehicle, but it took time. The car would smoke and the driver would get out. A firetruck would arrive and a few minutes later it's out. EV fires involving the battery are orders of magnitude faster, more intense, and difficult to extinguish. Atleast an ICE car gives some kind of dashboard warning if it reaching a dangerous temperature. I've never seen a report of anything similar when an ev battery self-ignites.

@@BonannoCM again, provide your evidence for these claims. I don’t believe them. Your personal assertions don’t count. References do.

@@williammeek4078 That's okay. My personal observation of events over many years is not scientific nor legally binding proof. If you want that, ask emergency services if they are prepared to deal with ev battery fires, ask ev vehicle manufacturers why they have no means to ascertain the safety status of a potentially damaged battery, and why they and insurance companies will often declare a ev unworthy of repair after a minor collision... the same insurance company mailing out massively increased premiums to ev owners or dropping their coverage entirely. Other than all that, ev ownership is just peachy.

@@BonannoCM so what you are saying is that you have ZERO evidence to back up your claims. Go home troll.

It’s even worse than this, because the likes of Amazon scrape your location, data and other stuff and dynamically price what you see on the website based on what they think you’ll pay not a price across the board!

This is the case in some countries isn't it? Government provided insurance alongside the equivalent of VED.

Have claims gone up 40% over the last year? No, of course they haven't. So it's either greed or "They" want us off the roads.

In America, it is not necessarily a legal requirement to have insurance, and if you are hit by an uninsured driver and your own insurance doesn’t cover the last, then you have to stump at the cost yourself. Insurance of cars varies wildly around the world.

but in your case, you have gone from a bike that only really experienced riders use to one that inexperienced users have, so I would have expected it to do that TBH. it isn't the bike - it is the perceived experience of the rider! And the insurance provider wont have a bit on their quote that says 'been riding X years' either....Statistics are not really very good and run off generalisations.

I ride a bandit 650 & do 12000 miles a year my insurance is £380??

The problem with evs is basically evem minor damage can lead to catastrophic failiure a few months or years later. If i was an insurer, i wouldnt touch ev's with a 10 foor pole.

@@retiredbore378 I believe that in the US they underwrite some of their own insurance, and use third parties when individual states mandate that. The stated intention was to have "Tesla Insurance" available worldwide eventually, to prevent cartels effectively pricing Teslas off the road as Gary alludes to in the video.

I know that some of the insurance companys in Sweden says no when you ask them for insurance on your Model 3.... They also said they see a big increase in parking accidents, probably cause of the massive acceleration a lot of the EV's can do these days. Edit: Lucky we have Teslas own insurance, and they dont say no :)

Volvo xc40 50% increase with no reason

I have 3 ICE cars and my insurance is roughly the same as last yr.I think the changes in regulations regarding how an EV is handled post accident and the fact that ev`s are prone to be written off post minor accidents has a great bearing on ins.

Another £100 pounds or so still silly but I can see how the company’s are ramping up costs given it’s guaranteed to be written off if it’s hit due to a specialists insurance repairer

Insurance companies are a law unto themselves. We have two EVs in our family and our Kona for example looks like it will cost £100 more to insure. But if it was possible to lock it into Eco mode in order to get cheaper insurance I would be more than happy to do that. There is no reason to have a sport mode in this kind of family car. Just a thought .... It looks like our Zoe will be cheaper though .. so you win some and you lose some!

happened to me a few years ago when I was driving, I just told them I could get a cheaper quote and they matched what I could get.

Cor, sounds like I've gotten off quite lightly in comparison! You're right though, there's some pretty big increases around for ICE cars too, which a lot of people in these comments are conveniently ignoring!

@@ModernHeroes Mine doubled from last lear but then again I did make a claim, It initially went up about 120% but I got it down to double by increasing my excess and this was staying with the same company (aviva), online comparisons were roughly similar in cost to my renewal.

No, the insurance companies are spreading the cost of EVs that's why🙃

@@barriewilliams4526 That's not how insurance works!!!

If they didn't keep combusting we would all have cheaper insurance.

@@Tom-dt4ic That's exactly how they work, they take money from a lot of people to pay the expenses of a few ones that have problems. That's literally the definition of an insurance group. If you had to pay only your proportion, then there would be no difference between having or non having an insurance, it would cost the same

@@ALIENdrifter66 You're right, insurance spreads cost between those who will eventually be lucky and those who will eventually be unlucky. But they do that within certain sub groups, not over the entire company's client base. Why else do you think they ask you what car you drive, and your age, and your sex, etc.? It's because they know that certain catagories of drivers are more risky they others. For example, teenagers have more accidents than 50 year olds. Therefore teenagers have to pay more. And if you drive an expensive car you have to pay more because if you have a wreck, the insurance company will probably have to pay more. And so on and so on. What insurance companies don't do is what you're suggesting, take a low risk group and raise their premiums to cover the company's known added exosure to a high risk group. If they did that then some other insurance company who was properly calcualting, and properly setting fair premiums for that sub group, would simply steal those customers. What they do instead is if they think a certain group is high risk based on their data, then they simply raise that group's premiums to cover that higher risk.

The MG is technically Chinese, and China is a bit of a boogeyman in the west. I'm not saying China don't do bad things, but that doesn't mean you should stop thinking logically about things.

You're sure of that are you? Tesla is a car manufacturer - they know nothing about insurance. Get ready for £5,000 premiums ....

see answer above about the underwriters risk profiles, may be part of it?@@kidcowdy1231

@@kidcowdy1231 the problem with the insurance industry is it long ago, stopped being insurance. It’s all about profit margin and it’s yet another financialised service. Actuaries are superseded by spreadsheets. The only suggestion I have is to hunt around and forget about loyalty.

You are learning the hard way that EVs are a CON!

@@kidcowdy1231 II would be interested to know who this company is that has stated they won’t insure any EV under any circumstance at least with reference to you?

@@kidcowdy1231 Ok thanks - the only Insurer who won't insure EVs in the UK (that I can find) is not really an Insurer - "John Lewis Financial Services". I guess there could be others.

the £30 is on top of the premium already paid so its not £180 a year its 3 £30 plus what ever you have already paid for the year.

What car do you have as I paid a similar figure for my Fiat 500e in March?

I'm just wondering, if you get a Zoe insured is the leased battery pack also insured? Or is that insured thru the Renault dealership? Because that baytery pack represents a serious chunk of value.

@@jfv65 Hi. Battery is not leased on the model I was looking at.

@@jfv65 you need to insure the battery whether it’s leased or not.

You'll need to insure the battery, whether it is leased or not. But make sure you tell your insurer if it is leased.

Lol. I’m easily confused. The quote covered the whole car - surely. Looking at a c2021 car and I believe leasing of the battery ended a bit before this??

Pretty much mine and wifes story. No odea why its so high. No accidents. Went on go compare and pretty much no improvement

You’re 19 times more likely to have a fire in a petrol / diesel car. Fact from Scandinavian research. EV premiums should be dirt cheap, anything else is a scam.

@@althomas7937 ATM EV fires are fairly rare, but the damage an EV fire does is immense, so far at least 2 car carrying ships and Luton airport in UK have fallen victim to the immense heat ( 2000 deg C vs 500 deg C for an ICE ) and the very toxic fumes released from a battery fire. Anyone doing a risk assessment on an EV would come up with a moderate risk but very serious consequence event....

Luton fire was from a gang cutting Catalytic Converters from under the cars and hit a fuel pipe … hence the arrest ..

@@mazdaram226 The arrest was because the Diesel hybrid Range Rover driver dude left his car abandoned in the gangway of the carpark with flames spewing out from behind nearside front wheel ( where the battery is ) and went to check-in where he tells the check-in staff 'Oh by the way my car is on fire in the carpark can you get someone to see to it'..... The driver was the one arrested.

@@mazdaram226 That's definite, is it? Do you have a source for that story?

Aye that’s definitely where I’d turn for the truth right enough 😂

Macmasters, the master at setting himself up for failure. Does what no other ev driver would do. Why? He needs the watch revenue to pay for that taycan.

@stulop so e v cars are OK as long as you don't want to do whatever you want.... sounds like cognitive dissonance to me ... or maybe 1984 has returned eh ..

@@BurgerGeorge There are indeed comprises with EVs. The benefits make up for them in my experience. None of this alters the Macmasters gift.

@@stulop we compromise, they live. Let us eat cake .😒 I'm living in a dystopian nightmare.

@@theclotshotdidit3115 the insurance company here said that parking accidents have exploded since EV's hit the market (not cause of fires ofcourse, but they think its cause that the EV's have often very good acceleration figures, which makes inexperienced drivers often crash into other cars.

​@@theclotshotdidit3115 that's nonsense...

Mine with DL went up by 28%, still cheaper than others out there!

Maybe if they specify that they won't cover NMO battery EVs (the ones that burn) but will cover LTO and LFP battery EVs (neither of which burn like NMO) then the manufacturers will change to LFP tech which is actually a better battery tech to begin with

It isn't just the fire issue. It is also the fact these cars are insanely expensive to repair. Generally there aren't any third party repair shops because the vehicles software is proprietary. EV's are regularly totaled for minor damage that an ICE car can get repaired just about anywhere.

They aren't burning at an alarming rate though.

Not true though is it?

I have driven EV's for eight years, cheapest cars I have ever run Service costs were just tyres, wipers and fluids, cheapest car to insure I own But enjoy your fud

😂

What is so dangerous with EVs?

people said the same thing about cars back in 1900 people had to drive their autos along with somebody waving at flag in front of them.. any relation Henny Penny?

Lol

As living within the EU, we have of course the advantage to insure our cars where ever within the EU, I can get a Belgian or Polish insurer if I like, so there is a lot of competition, it is also regulated. Britain was part of that but now has to cope on it´s own, so prices rise, and if there is no regulation, prices rise more. So the AMI here in Spain can be as low as 127 Euros per year, unlimited km and 4 drivers (over 25) I own a Tesla Model 3, 4 years old, going 20000km a year, costing just over 400 Euros a year, every year I do not claim with the company, I get 5% off. At the moment I insure any vehicle with 65% of there standard rate. I could not even think about having several cars in the UK today, it would be prohibitively expensive.

​@@MrDead1975clown

Typical nihilist ball 😂.

Yes, of course, not the overall decay of the entire global economy, political stability, environment etc. Perhaps there are a whole host of factors, including isolationism.

Ah yes, firemen, known experts in how insurance companies handle claims

A long time?? There’s no premium loading for having an ICE vehicle in your garage or on your driveway??

If you’re trying to insure a diesel Range Rover maybe

I made the opposite move with my Zoe, bit less increase than your Kona and reversal of your differential.

Government has banned offering new customers better prices, which has helped push up prices for those of us happy to change insurer every year!

U keep thinking that way son

@@edc1569 I know the government ban has just been introduced and yet when I shop around I can still get a comparable quote so perhaps the insurance companies have managed to get around this rule somehow.

Second Karoq owner in these comments alone saying about a fair old increase. Interesting.

@@ModernHeroes That is interesting. Something just doesn’t add up 🤔

Insurers decline to quote for third party only.

@@ModernHeroes Oh so it's expensive to fix an EV so we have to charge you lots. But when you exclude this by choosing 3rd party they won't quote! 😂 The conspiracy part of my mind is that it is been done on purpose, like big big oil has given them a backhander. 🙄

Same on my i3s. Max no claims, good area etc. it went from £450 to about £750. Quite irritating.