INSURANCE LS400 or any ICE car

[ROYT]

Recently renewed my insurance it had gone up by about £100.

Are insurance co's now increasing prices to factor in the high cost of repairs to electric cars, fire write offs,

Battery replacements etc?

I think ICE cars etc should have separate insurance to electrics as they are cheaper to fix etc

Are we subsiding the electric con.?

What do you think?

 

[Jedi-K]

It's because repair cost and materials have gone up plus the labour charges.

Also claims for injury have gone up with inflation.

[Malc1]

It’s simply we’re a fairly captive market and insurance Coys  are simply profit making entities and can usually have us over a barrel and get away with it 

but it’s such a chore trawling the market for a useful renewal price 
 

Malc 

[BigBoomer]

Not enough electric cars on the road yet to affect the cost of insurance much.
The increase is due to rising costs, especially parts and labour for repairs, and due to profit taking after most of them took a hit during the Covid years.

Electric cars are generally more reliable, safer, and cheaper to repair than ICE because they are simpler.
To damage the Battery in an EV the damage would most likely write off the car anyways.
There are less EV fires as a proportion of such vehicles in use compared to ICE cars, and hybrids are the highest fire risk because they combine the worst aspects of ICE & BEV in one vehicle.
Fires in ICE cars just don't make the press because they are quite common, and the most common cause is fuel system leaks.

EVs have a lot of advantages, but poor range, poor charge times, and cost are what puts me off.
They are getting there on the 1st two, but I think the cost is just going to continue going up.
On the other hand the switch to EVs means lots of cheap used LS400/430/460/600 for us.