US Car Insurance for EVs to be 28% higher than ICE cars. Taycan highest premium.

[Deleted member 4581]

2023 Auto Insurance Rate Predictions:
--Auto insurance is expected to increase by 8.4% in 2023 with 45 states seeing their rates increase by at least 1%.
--The average cost of full coverage car insurance in 2023 is $1,780/year, with Michigan, Florida, and Rhode Island residents paying the highest premiums.
--Have the need for speed? Drivers with traffic violations in 2023 will see their premiums jump 52% on average.
--Car insurance for new Electric Vehicles will be 28% higher than new gasoline-powered cars. The Porsche Taycan ($3.576) and Tesla Model Y ($3,110) will have the highest insurance premiums in 2023 with the Honda CR-V as the cheapest car to insure in 2023.

https://www.prnewswire.com/news-rel...surance-costs-increase-in-2023-301714884.html

 

[RAHRCR]

2023 Auto Insurance Rate Predictions:
--Auto insurance is expected to increase by 8.4% in 2023 with 45 states seeing their rates increase by at least 1%.
--The average cost of full coverage car insurance in 2023 is $1,780/year, with Michigan, Florida, and Rhode Island residents paying the highest premiums.
--Have the need for speed? Drivers with traffic violations in 2023 will see their premiums jump 52% on average.
--Car insurance for new Electric Vehicles will be 28% higher than new gasoline-powered cars. The Porsche Taycan ($3.576) and Tesla Model Y ($3,110) will have the highest insurance premiums in 2023 with the Honda CR-V as the cheapest car to insure in 2023.

https://www.prnewswire.com/news-rel...surance-costs-increase-in-2023-301714884.html

Interesting. When I dropped my Panamera and added my Taycan, my premium went down.

 

[EvFamily]

Yay!! Another price increase for 2023. <s> Feeling gouged by these CEOs.

 

[FlyingPoint]

Can't blame them when PCNA charges $3,358 for a standard windshield replacement with no HUD.

Before that little incident, I was 100% going to purchase my Taycan at lease end. Unless I can secure a decent post lease purchase warranty, it makes no sense. The cost to repair and replace parts, especially screens is cost prohibitive.

 

[andix]

Wow. US insurance is expensive.
But I get it, roads are very unsafe and lawyers expensive ;-)

I pay ~700 EUR here in Germany.
Taycan got cheaper as they initially overestimated the car specific risk.

 

[Charlie]

Wow. US insurance is expensive.
But I get it, roads are very unsafe and lawyers expensive ;-)

I pay ~700 EUR here in Germany.
Taycan got cheaper as they initially overestimated the car specific risk.

It must really vary from person to person. I'm 70 and in Colorado with my 68 year old wife also insured on our cars. The 2020 4S is under $1300 per year and our 2021 Audi Q7 is about $1450 per year. I was surprised that the Audi is more than the Taycan given that the Taycan costs more and should be more expensive to repair, but all in all, the prices seem reasonable. These prices do include discounts with State Farm for other coverages like homeowners. We have no tickets and no claims which also should lower the premiums.