Electric car (EV) insurance is currently more expensive than conventional insurance, largely due to the need for specialist parts but repair costs will improve as OEMs optimise designs.
This is according to a new ‘EV Readiness’ report from Trend Tracker scheduled for publication on World EV Day – Thursday 9 September.
The report is Trend Tracker’s second in the series of quarterly reports and features a wide-ranging industry study, expert insight and analysis of the latest EV market trends.
Some of the key findings from the report include:
• Electric car insurance is more expensive than conventional insurance
• The approach of major insurers to electric cars insurance cover is changing
• The automotive supply chain currently has more concern and risk than optimism
• The skills gap continues to widen
Paul Sell, Associate Director of Industry Insights, owners of Trend Tracker, said, “There are many key contributors to this report which is a real eye opener to the various challenges and opportunities the electrification of the car parc is presenting.”
To find out more about Trend Tracker and the EV Readiness report visit the website.
