Sorry
@roadtrasheer ...was out all day and didn't see this until late while reading about our 2nd half "breakdown" v Okie lite. (Ugh) The direct answer to your question is "yes", there are a number of issues auto insurers are running into with EV's. (btw it's less of an issue with Hybrids because of different technology)
However with EV's, often the price of repair or replacement of a damaged vehicle goes far beyond what it may be worth, and in order to save money insurance companies simply total the loss. However, that often does not fully replace the vehicle and that leaves insureds holding both the loss of residual value and any payments due as well as loss of use of the vehicle! Since their value rapidly diminishes, trades are often difficult or impossible. As a result, premiums and deductibles for EV's are going through the roof. I have not heard of insurance companies refusing to write policies for EVs (it's a growing market segment for them) but they are most definitely charging big $$$$$$$ for premiums!
Here's an excellent article on all of the insurance issues EVs are causing, from higher premiums, to expensive repairs for simple maintenance. I have warned readers on this forum before, refrain for now from purchasing EV's or
lease them instead to avoid these headaches. This is a very good read which directly answers your concerns.
Insurance companies realize when insuring EVs...things can get expensive
excerpt:
Right off, before anything else is even considered, the higher price tag on a new EV starts car owners out with higher insurance costs. But there are many more reasons that EV insurance costs are worse for EV owners, including
repair costs.
...more
“High repair costs play a significant role in determining EV insurance premiums as well,” Market Watch reported. “While there are fewer components at risk of breaking down in an EV, the parts that do require repair or replacement are much more expensive
more
“The specialized training required to repair electric vehicles means fewer available options and higher charges for customers when repair needs arise. All of these factors drive up insurance costs for EV drivers.”
finally...
one owner found just how problematic accidents can be when in February his truck was rear-ended and
he was told that the cost to repair the vehicle wild be an eye-popping $42,000, or about half what the truck cost in the first place.
Even minor damage to an EV’s battery pack costs so much to replace that they have no choice but to call the whole thing a loss.
Again folks, trust me on this...IT IS NOT A WISE PURCHASE FOR BRAND NEW EV'S! They are frighteningly expensive...almost double the average price of ICE vehicles! They do not hold their residual value well. They are difficult to maintain, and nearly impossible to get spare parts for. They are impractical and while fun to drive, they do not offer the range or flexibility of ICE vehicles for long trips. Finally insuring them can be a nightmare as the linked article points out in more detail. (excerpted above)
So
@roadtrasheer you are absolutely correct, insuring EVs is both expensive and problematic for consumers as well as insurance companies. Unless you have money to burn...my best advice is
"DON'T DO IT"!
