Why EVs cost more to repair
When it comes to crash repairs, EVs are proving significantly more expensive than petrol and diesel equivalents, and these higher costs are leading to higher insurance premiums.
- EVs are typically more expensive than internal combustion engine vehicles, so they are more costly to replace after a theft or accident write-off.
- EVs have lower service and maintenance costs due to fewer moving parts, but this also means that their components are more integrated – Allianz said that what may have been three parts in a conventional car could be only one part in an EV – which makes replacement parts more expensive. EVs’ lightweight carbon and aluminium body panels are also more costly to replace.
- While EV battery packs are largely well protected in a crash, they are costly to replace if they are damaged. Last year, figures published by CCC Intelligent Solutions showed that 50% of EV claims where a battery replacement was necessary were deemed a total loss.
- Delays in the availability of replacement parts for EVs appear to be longer than for ICE equivalents, leading to longer off-road times and higher replacement vehicle charges. EVs are more expensive to hire than ICE models.
- Bodyshop technicians require extra training to repair EVs, which leads to higher hourly labour rates.
- Charging brings additional risks to EVs, with insurance policies covering charging cables, connectors and electric wall boxes, and third-party liability if someone trips over a cable and injures themselves while a vehicle is plugged in.
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