EV Owners Facing Soaring Insurance Costs in the US and UK

EV Owners Facing Soaring Insurance Costs in the US and UK

https://www.windtaskforce.org/profiles/blogs/ev-owners-facing-soaring-insurance-costs-in-the-us-and-uk

By Paul Homewood

 

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Driving an electric car should be a win-win, saving money and saving the planet.

So David* was shocked when the insurance on his Tesla Model Y came up for renewal, and Aviva refused to cover him again, while several other brands turned him away.

When David did secure a new deal, the annual cost rocketed from £1,200 to more than £5,000.

“My insurer was Aviva from July 2022 to July 2023, but when it was coming up for renewal, I received a letter stating, they would not be covering the Tesla Model Y any more,” David says. “I am a member of a Tesla UK owners forum, and lots of other people seem to be having the same issue.”

In the Facebook group, members share stories of horror renewal quotes, with increases ranging from 60% (up to £1,100) to a staggering 940% (a jump from £447 to £4,661, according to a screengrab shared by one driver).

“I spent weeks on every comparison site as well as trying individual insurers and specialist brokers, but either they wouldn’t cover the car or the quotes were £5,000 or more,” says David, whose only change in circumstance was three points on a licence.

Privilege, Vitality, Axa and the specialist broker Adrian Flux were among the brands he found were “unable to insure him at this time” before he nailed down a policy with Direct Line, albeit at a price.

“The best quote I could get was from Direct Line at £4,500,” he says, adding that the total cost exceeded £5,000 once the interest for paying monthly was included, “because who has got that kind of money in one go?

Tesla Model Ys, starting price of about £45,000, was the bestselling electric car in the UK last year

Owners are finding, like the government, insurers are wobbling about the cost of net zero.

Alex Gerlis, who bought a Smart EQ Forfour last year, had insurance from John Lewis Finance.

Before the mid-August renewal date, it advised him it would not be able to offer a renewal, because it was not insuring electric cars

It comes as all motorists face soaring insurance costs, with prices said to be at an all-time high. A recent cost of living bulletin from the Office for National Statistics revealed that the price of gasoline car insurance – which for many Britons is one of their biggest household bills – is up by 52.9% in the last 12 months.

However, this average masks bigger increases for electric car owners, according to Confused.com. Its figures, derived from quotes, show insurance premiums for electric vehicles are 72% – or £402 – higher than this time last year, at a typical £959.

Meanwhile, for petrol and diesel car drivers, the increase is 29%, or £192, taking the figure to £848.

https://www.theguardian.com/money/2023/sep/30/the-quotes-were-5000-or-more-electric-vehicle-owners-face-soaring-insurance-costs?CMP=oth_b-aplnews_d-5

I have no sympathy for these EV driving fools, who have been more than happy to collect huge taxpayer subsidies for their cars and avoid paying thousands of pounds in fuel duty, and then smugly pat themselves on the back for saving the planet.

Now, the insurance cost increases far exceed any energy cost savings, plus the EVs they bought are way more expensive than an equivalent gasoline car, so the financing payments, at high interest rates, are much more than for a gasoline car, plus, on an A-to-Z (mine to junkyard), lifetime basis, the CO2 from an EV is about the same as of an efficient gasoline car, however for EVs with batteries of 100 kWh or greater, such as trucks, the lifetime CO2 is more than a similar size gasoline truck.

APPENDIX


The Unseen Emissions: Tire Dust and the Environmental Mirage of Electric Vehicles


Just when we thought we had a grip on the major culprits of pollution, a new villain emerges from the shadows. And this time, it’s not the ominous black smoke billowing from exhaust pipes or the industrial chimneys spewing toxins into the atmosphere. No, it’s something far more inconspicuous, yet equally, if not more, detrimental: tire dust.

A recent article from The Drive sheds light on a rather overlooked aspect of vehicular pollution. While the world has been fixated on tailpipe emissions, a silent perpetrator has been wreaking havoc, largely unnoticed. The article states,

“Scientists have a good understanding of engine emissions, which typically consist of unburnt fuel, oxides of carbon and nitrogen, and particulate matter related to combustion. However, new research shared by Yale Environment 360 indicates that there may be a whole host of toxic chemicals being shed from tires and brakes that have been largely ignored until now.”

Ah, the irony! As the world clamors for electric vehicles (EVs) as the saviors of our environment, it seems we’ve missed a crucial detail. The article goes on to reveal, emphasis mine,

“It’s an emissions problem that won’t go away with the transition to EVs, either. According to data from Emissions Analytics, EVs tend to shed around 20 percent more from their tires due to their higher weight and high torque compared to traditional internal combustion engine-powered vehicles.

So, while EVs might not have tailpipe emissions, they’re not exactly the pristine, green machines they’re touted to be. The heavier weight of EVs, thanks to their bulky batteries, means they wear out their tires faster, releasing even more of these harmful particulates into the environment. A classic case of the road to hell is paved with good intentions, all puns intended.

But let’s delve deeper into the implications of this tire dust. The article cites a report from the Pew Charitable Trust which found that a staggering

“78 percent of ocean microplastics are from synthetic tire rubber.”

These toxic particles often end up ingested by marine animals, leading to

“neurological effects, behavioral changes, and abnormal growth.”

It’s not just the oceans that are at risk. The particles are so minuscule that they can pass directly through our lungs and into our bloodstream, even crossing the blood-brain barrier.

While there’s been a relentless push for recycling and reducing plastic waste to save the oceans, the real elephant in the room has been the cars we drive daily. On one hand, we’re told to reduce, reuse, recycle, and on the other, we’re sold the dream of ‘clean’ electric vehicles, which, as it turns out, are making problem worse.

The article also touches upon the challenges of studying these particulate emissions. Unlike tailpipe emissions, which can be easily captured and studied, understanding the full impact of tire and brake dust requires a more nuanced approach. But as the saying goes, where there’s smoke, there’s fire. And the initial findings are alarming enough to warrant immediate attention.

The revelations from this article serve as a stark reminder that environmental issues are complex and multifaceted. Simplistic solutions, like the blind push for EVs, often miss the mark. It’s high time we adopt a more holistic approach to environmental conservation, one that takes into account all aspects of pollution, not just the ones that make for catchy headlines.

To the proponents of electric vehicles and the so-called ‘green revolution,’ I say this: It’s always wise to look before you leap. And in this case, it seems the leap towards EVs might just land us in a pile of tire dust. We told you so.

image of Tire Dust Makes Up the Majority of Ocean Microplastics, Study Finds

Tire Dust Makes Up the Majority of Ocean Microplastics, Study Finds

  • Willem Post

    EV sticker is 1.5 times equivalent gasoline
    EV insurance is 3 to 4 times equivalent gasoline

    THE ADDITIONAL COST WIPES OUT ALL ENERGY COST SAVINGS, but the much higher monthly car payments remain for at least 8 years.

    EV owners have soooo screwed themselves, because on an A-to-Z (MINE TO JUNKYARD/RECYCLING), lifetime basis, the LIFETIME CO2 of an EV is about the same as for an EQUIVALENT, EFFICIENT, GASOLINE CAR

    If you live in dysfunctional, democrat-run Los Angelos and New York, infested with gangs that just walked over the border UNVETTED, the chance of having your EV stolen is less than for a gasoline car.

    The reason is, wherever those people came from, they were not brainwashed about the wonders of EVs and they likely never heard of Net Zero by 2050.

    OMG, they do not know what they are missing

    It looks like the UK is very quickly abandoning its Net Zero targets, because the UK has finally realized those targets are totally unaffordable, such as building 36,000 MW of offshore wind turbines in the North Sea by 2030. That target is even more extreme than Biden's 30,000 MW of offshore by 2030.

    US/UK 66,000 MW OF OFFSHORE WIND BY 2030; AN EXPENSIVE FANTASY  

    https://www.windtaskforce.org/profiles/blogs/biden-30-000-mw-of-off...