EVs cost more upfront due to tech and pricey batteries, leading to higher insurance premiums.
EVs may have fewer moving parts, but specialized repairs & limited technicians make fixing them costly.
EV batteries are costly, and insurers raise premiums by factoring in high replacement expenses.
EVs feature advanced safety tech, but costly repairs after accidents increase insurance rates.
Fewer insurers currently offer tailored EV policies, reducing competition & keeping premiums higher.