The Cheapest And Costliest Electric Cars To Insure

According to the article EVs cost 2x an ICEV to insure!

 

Our combination of new Tesla + new Mini cost the same to insure as new Land Rover Discovery + new Kia Soul.

 

In NY SE and Subaru Forester the same value about $30000 SE is $1200 and Subaru $800 a year with a best driving record possible now tickets or accidents and full coverage up to 1/2 M.

 

It’s different up here, with our no-fault insurance system, but I only pay marginally more for my 2023 SE L3 than for our equivalently-insured 2018 Subaru Crosstrek Sport w/Eyesight, even though the bottom line price on my MINI is significantly more (before government EV incentives) than the Subaru’s price was four and a half years ago.

 

“However, in addition to being costlier to purchase, EVs tend to be more expensive to insure than their conventionally powered counterparts. The average car’s annual insurance premiums for full coverage in 2022 is estimated at $1,150, while it’s a considerably higher $2,322 for electric vehicles, according to the website Insurance.com.”

 

Tesla bell curve. Right now a plurality of EVs are Teslas, while among ICE vehicles, it’s more likely to be an Accord, F150, Civic, Camry, or Altima. The average new car sale price in the US is pushing 50 grand, while the average new car sale price of the top 10 passenger cars sold in the US is under $25,000.

 

My broker doesnt know why my 2023 costs 500 more than my 2022 cost. Should have kept the red one.

 

I agree that Tesla’s cost more to repair, seemingly due to labor costs at Tesla approved centers as their parts prices seem lower than I’m used to…
A non Tesla EV, especially one on a shared ICE platform should not cost any more to repair as any damage to EV specific parts, charge port excepted, would be so deep into the car it would likely be totaled anyway. That said, with higher purchase prices the EV would result in a higher payout and thus the premium would be affected by that.
I do wonder if premiums will be more like high power ICE models given the performance and thus increased likelihood of driver error…

 

This article:

https://www.caranddriver.com/news/a42709679/tesla-insurance-fixes-expense/

got me thinking/searching the forum, and I found this thread. I hadn't really considered insurance costs, but the 'parts bin' nature of the SE would seem to be an advantage here. Lots of spares due to sharing of components with the ICE version, and a smaller (less expensive) battery better tucked away from damage due to minor side impact.

Anyway, I was pleasantly surprised when the cost of insuring my incoming 2023 proved to be only slightly more than the cost of insuring our 10 y old minivan.

 

From an old article on green card reports:

The Tesla factory training class lasts fully three weeks; according to Peotter, it is more in-depth and more intensive than Jaguar’s. It’s also more expensive for the shop.

As a result of these higher training and equipment costs, Peotter’s shop rate for Teslas is higher than its Jaguar aluminum rates--and nearly double the rate of a standard car. (Peotter won’t say exactly what the rates are.)

The rich-guy syndrome almost certainly plays a role in the higher labor rates for Teslas, as they do with other premium brands like Mercedes and BMW.

If a guy can afford a $100,000 car, he should expect to pay a higher labor rate--just because he can. Higher labor rates suggest a higher level of quality and care, although that is not necessarily always the case.”


“The owner who got the $11,000 estimate for a minor scrape took his car to a non-Tesla operation that was savvy about aluminum, and came recommended by local Mercedes and Audi owners. That shop's estimate: $1,850.

It appears possible that a few Tesla-authorized body shops may be taking advantage of their hard-won exclusive status.”


Price gouging.
Nothing more.

A video from RSymmons in the UK showed the cost of replacing his front bumper and I was suspenses how little an entire bumper cover cost, certainly no worse than Fords in the UK.
The cost is entirely in labor and shops can charge whatever they like and are choosing to charge more than other luxury aluminum cars which they also charge double regular labor rates in just because they can. Same guy, same work, chargers double per hour for a Jaguar vs a Honda. And if it’s a Tesla let’s increase it even more just because we can as we’re the only shop in the area that got certified so I’m gonna make bank!

Tesla are in the insurance business, frankly they need to get into the collision repair business too.

 

For what it's worth, here's how my policy changed when I replaced my old car with my new car a few weeks ago:

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All new car fixes are expensive. Especially for accident damage. A single headlight these days could run 5k easily..

 

I’m was just watching a video with Doug Demuro whose wife hit their Land Rover Defender into a pole in a parking lot. Needs a new door. $5k repair. And there are no doors available in the USA for at least several months. So even if you have the money to fix it you can’t. Not just a Tesla problem.
As you say, all cars are expensive to fix now.

 

JLR parts have always been **** to get. I just got a wiring harness for a Range Rover after 3 weeks and that was fast!

 

With the F56 soldiering into its 10th year, I'm certain it's much easier to find a door for an SE. That should figure into the insurance rates--I wonder if it does?

 

Ugh I broke a windshield in 2021. It had to come back ordered from the manufacturer overseas. Dealers out of state had the windshield in stock but refused to ship because of damage concerns - but at the same time it was somehow OK for it to travel from Europe?? Multiple dealers and the USA corporate were of no help. Drove it for 4 months with a giant crack the driver side. Ended up selling it like that, and fortunately the market didn’t care at that time.

Totally felt like Milton from Office Space.. “I was told that this was a Tesla-only problem, and that parts would arrive in a reasonable timeframe… reasonable!!”

 

So much for my "this car has been around for almost 10 years" rationale for F56 parts being easier to get than Tesla parts.

 

Lol you mean like my replacement automatic grille shutters? Four months.