I read that car insurance is going up because of electric cars.
The cost of repairing is prohibitive so they are easily written off
The cost of the battery packs is half the cost of the car when new. If the battery packs are damaged they can’t generally be fixed so as the cost to replace is. Me over half the value of the car to replace (even if you’ve only driven it 5 miles) it gets written off as its standard practice for insurers to write off cars that have damage that is 50% or more of the cars value.
Letting garages replace just part of the battery pack or see if they are damaged would go a long way to solving this.
Insurance wise, talking to someone the other month who works in that industry, they said a lot of the increases are down to sensor heavy cars that are coming through. a few years ago a small bumper collision was a few hundred quid to fix at the very top end, now those bumpers are full of sensors its costing multiple thousands to fix and that is being offset to the customers.
How accurate that is is anyones guess. just repeating what I was told.
I’ve said for years EVs aren’t the answer to fighting global warming. All the batteries and chemicals and plastic shit that goes into making them can’t be good for the environment. And then you add in the fact that batteries degrade rapidly after a few years, it makes no sense to me whatsoever.
10 year old EVs are practically worthless for that reason.
Surely it’s got to be better for the environment to invest in better public transport and for people who do need a car, to keep older ones on the road for longer so we don’t need to keep churning out new ones.
But we all know that even if they sorted the cost of battery replacement, insurance costs wont dip again. Nothing ever comes down!
I'm not a economic expert, I'm just saying how the media will report what great news it is when interest rates fall after so many millions like myself was forced into fixed remortgages at 5/6% for years.
No he means he either locked in a new fixed deal for a few years or would be stuck on whatever the standard rate was for his provider. So inflation might come down but there are plenty of people who had no choice but to take higher fixed rates as that was all that was available at the time.When you say “forced” you mean you took a view that 5/6% was going to reflect cheap money? Did you speak to a mortgage advisor when making this decision?
Hybrids are the way to go for now until something truly groundbreaking is invented.
I’m willing to be proven wrong but I still think maintaining existing cars rather than being forced to scrap them because of Ulez and the like has got to be better than making more cars, hybrid or not.