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Starglow is anti-EV, so it makes sense once you realize this.
No....I'm not anti-EV although personally I'll never buy one, but they do cost more to repair after an accident or get totaled out completely which in turn drives up insurance rate costs for everyone. Insurance companies aren't in business to lose money otherwise they'll go out of business.
Same situ with us at AMICA 3 wk ago. I called to ask why such a big jump answer was NC okd rate increase. I say but my newest car is a 2015, we both retired and drive abt 40 miles a wk combined. Not any tickets ever and last accident 30 yr ago not our fault. She got it lowered quite a bit. Why not raise the rates on the BAD drivers? Why do I have to pay for their careless driving or brand new cars?
She might have reduced the daily use mileage which can lower the premium cost, but make sure she did not increase your deductible amount and/or make other policy changes without telling you just to get your premiums lower. If it dropped significantly then I'd be asking questions about what they did to get there or carefully review your revised insurance policy documents you should have received after the rate change.
Tesla Owner’s $23K Rear End Collision Bill Shows EV Repairs Can Be Shockingly High
Earlier this year, Reuters reported on a study by two major salvage companies that found a “vast majority” of Tesla Model Ys that were totaled with less than 10,000 miles on the odometer. Another big issue with some Teslas specifically, namely, their integrated battery packs. Should one of those be damaged, there’s no way to repair it which means it goes straight to the salvage lot.
Tesla refuses to repair those, there are 3rd parties who will attempt battery and other EV repairs. Rich Rebuilds (Benoit) built his whole Youtube presence around rebuilding a totaled Tesla and has now founded a chain of shops that works on electric vehicles (Electrified Garage).
No....I'm not anti-EV although personally I'll never buy one, but they do cost more to repair after an accident or get totaled out completely which in turn drives up insurance rate costs for everyone. Insurance companies aren't in business to lose money otherwise they'll go out of business.
I don't want to get into the debate about what you are for or against, as I think you are the person most qualified to state that.
I think that the examples you gave were specific to certain car makers who happen to be EV's, but not to EV's in general, hence my confusion and that of others. Generally speaking, I think if you compare apples to apples, repair costs are not significantly more, and it is well established that maintenance costs for EV's are significantly lower than their ICE coutnerparts. (just less to maintain is the reason).
By apples to apples, I think if you compared replacing a rear bumper on a Chevy Volt vs Chevy Malibu, that you'd get a more accurate comparison. Rivians and Teslas are mostly considered to be higher-end vehicles, so the related repair costs would also be higher.
TL/DR: The reason they are totaled is not because they are electric, or because "electric cars cost more to fix". It is because they are Rivians and Teslas, and "Rivians and Teslas come in at higher price points for the car, the parts and the repairs."
A better comparison would be to compare a Rivian vs a Porche or Ferrari. And then "yes", higher costs lead to higher rates for everyone...
I don't want to get into the debate about what you are for or against, as I think you are the person most qualified to state that.
I think that the examples you gave were specific to certain car makers who happen to be EV's, but not to EV's in general, hence my confusion and that of others. Generally speaking, I think if you compare apples to apples, repair costs are not significantly more, and it is well established that maintenance costs for EV's are significantly lower than their ICE coutnerparts. (just less to maintain is the reason).
By apples to apples, I think if you compared replacing a rear bumper on a Chevy Volt vs Chevy Malibu, that you'd get a more accurate comparison. Rivians and Teslas are mostly considered to be higher-end vehicles, so the related repair costs would also be higher.
TL/DR: The reason they are totaled is not because they are electric, or because "electric cars cost more to fix". It is because they are Rivians and Teslas, and "Rivians and Teslas come in at higher price points for the car, the parts and the repairs."
A better comparison would be to compare a Rivian vs a Porche or Ferrari. And then "yes", higher costs lead to higher rates for everyone...
The bolded is the "net" result regardless of whatever comparisons you want to make. Insurance companies aren't in business to lose money, so they'll either increase rates to cover their costs or will stop writing new policies altogether, which we're already seeing with homeowners insurance in some parts of the country. There's nothing stopping them from doing the same with automotive insurance if their losses are too high in certain states.
Not exactly a local issue, but most people here didn't expect to pay NYC insurance rates either. It's annoying as hell and nobody has time or the energy to do mundane things, but email/call other companies once in a while for your auto insurance rate quotes.
Been with Geico for 6 years, no accidents, no speeding tickets, nothing - slowly the rates kept increasing from $500/6 months for 2 cars to now almost $700/6 months for 2 cars in this latest renewal coming up for July 1. Called State Farm and it's now back to my $500/6 months with the same coverage and same (now older) vehicles.
The more loyal customers lose, so make sure you check since many of you are on auto renewal on the credit card and don't check!
Part of the problem is that Geico has a HUGE advertising budget, just like Progressive, State Farm, Allstate, etc.
I've been with my independent agent since the summer of 2000, and he has always come through with great rates, even when I had teenagers on my insurance. He writes both the auto policy and the homeowners policy for me, and I could not be happier. We have had one homeowner's claim, and one auto claim in those 23 years, and he handled them quickly and efficiently. He's a longtime Raleigh resident, and too young to retire...haha!
She might have reduced the daily use mileage which can lower the premium cost, but make sure she did not increase your deductible amount and/or make other policy changes without telling you just to get your premiums lower. If it dropped significantly then I'd be asking questions about what they did to get there or carefully review your revised insurance policy documents you should have received after the rate change.
She left deductible same, raising it 500 to 1000 was less than $5 savings so we left it. Yes she reported we no longer work so daily miles reduced. We also had been paying monthly and went to bi-annual payments that significantly dropped cost.
Anecdotally, I was rear-ended, car was drivable, but ended up being totaled out at 32k because repair costs have gotten so out of control (and parts could not even be sourced). I hate to think about what insurance rates will be in a few years if this is typical.
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