{"id":252802,"date":"2024-06-20T04:01:00","date_gmt":"2024-06-20T04:01:00","guid":{"rendered":"https:\/\/news.republicofgreen.com\/why-do-evs-cost-more-to-insure-than-hybrids-in-2024\/"},"modified":"2024-06-20T08:32:15","modified_gmt":"2024-06-20T08:32:15","slug":"why-do-evs-cost-more-to-insure-than-hybrids-in-2024","status":"publish","type":"post","link":"https:\/\/news.republicofgreen.com\/why-do-evs-cost-more-to-insure-than-hybrids-in-2024\/","title":{"rendered":"Why do EVs cost more to insure than hybrids in 2024?"},"content":{"rendered":"<div id=\"\">\n<p dir=\"ltr\">As more data rolls in from the insurance industry, an unfortunate trend has persisted for electric vehicles: They cost more to insure.\u00a0<\/p>\n<p>And there are enough of them in the vehicle fleet now to underscore that it\u2019s no longer a matter of insurance companies covering themselves for the unknowns of a new vehicle type.\u00a0<\/p>\n<p><span id=\"static-marker-video-player-primis\"\/><\/p>\n<p>Based on calendar-year results examined by the insurance analytics team at LexisNexis Risk Solutions, EVs now have a 17% higher claim frequency and 34% higher claim severity versus what the firm considers \u201ctraditional segments.\u201d<\/p>\n<p>\u201cConsequently, the number of paid claims, as well as the total claims payment amount for EVs has risen faster than the number of EVs as a percentage of the total PPA market over the year,\u201d underscored LexisNexis in its report, out Thursday. While the EV fleet in 2023 was 1.5% of the insured vehicle fleet, it represented 1.7% of all&#8230;<\/p>\n<\/div>\n<p><a href=\"https:\/\/www.greencarreports.com\/news\/1143577_why-do-evs-cost-more-to-insure-than-hybrids-in-2024\"target=\"_blank\">Read full article originally published on www.greencarreports.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As more data rolls in from the insurance industry, an unfortunate trend has persisted for electric vehicles: They cost more to insure.\u00a0 And there are enough of them in the vehicle fleet now to underscore that it\u2019s no longer a matter of insurance companies covering themselves for the unknowns of a new vehicle type.\u00a0 Based [&hellip;]<\/p>\n","protected":false},"author":100,"featured_media":252803,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[13],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.0 (Yoast SEO v20.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why do EVs cost more to insure than hybrids in 2024? - Republic of Green News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.greencarreports.com\/news\/1143577_why-do-evs-cost-more-to-insure-than-hybrids-in-2024\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why do EVs cost more to insure than hybrids in 2024?\" \/>\n<meta property=\"og:description\" content=\"As more data rolls in from the insurance industry, an unfortunate trend has persisted for electric vehicles: They cost more to insure.\u00a0 And there are enough of them in the vehicle fleet now to underscore that it\u2019s no longer a matter of insurance companies covering themselves for the unknowns of a new vehicle type.\u00a0 Based [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.greencarreports.com\/news\/1143577_why-do-evs-cost-more-to-insure-than-hybrids-in-2024\" \/>\n<meta property=\"og:site_name\" content=\"Republic of Green News\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-20T04:01:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-20T08:32:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news.republicofgreen.com\/wp-content\/uploads\/2024\/06\/tesla_100926866_h.webp.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1440\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Green Car Reports\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Green Car Reports\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.greencarreports.com\/news\/1143577_why-do-evs-cost-more-to-insure-than-hybrids-in-2024#article\",\"isPartOf\":{\"@id\":\"https:\/\/news.republicofgreen.com\/why-do-evs-cost-more-to-insure-than-hybrids-in-2024\/\"},\"author\":{\"name\":\"Green Car Reports\",\"@id\":\"https:\/\/news.republicofgreen.com\/#\/schema\/person\/8cde325f6d578ee034eea410b0a31273\"},\"headline\":\"Why do EVs cost more to insure than hybrids in 2024?\",\"datePublished\":\"2024-06-20T04:01:00+00:00\",\"dateModified\":\"2024-06-20T08:32:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/news.republicofgreen.com\/why-do-evs-cost-more-to-insure-than-hybrids-in-2024\/\"},\"wordCount\":163,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/news.republicofgreen.com\/#organization\"},\"articleSection\":[\"Green Vehicles\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.greencarreports.com\/news\/1143577_why-do-evs-cost-more-to-insure-than-hybrids-in-2024#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/news.republicofgreen.com\/why-do-evs-cost-more-to-insure-than-hybrids-in-2024\/\",\"url\":\"https:\/\/www.greencarreports.com\/news\/1143577_why-do-evs-cost-more-to-insure-than-hybrids-in-2024\",\"name\":\"Why do EVs cost more to insure than hybrids in 2024? 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