Why Are Insurance Premiums for New Energy Vehicles Increasing?

[BrynleeLynn]

New energy vehicle insurance premiums are rising due to lack of pricing data, immature technology, high equipment costs, and the nature of new energy vehicles. Lack of pricing data: Insurance companies lack original pricing data for new energy vehicles. For operational efficiency considerations, initial pricing may be set higher. Immature technology: New energy vehicle technology is not yet mature, resulting in higher accident rates and claim ratios. Most auto insurance companies raise pricing due to cost considerations. High equipment costs: The high cost of supporting equipment for new energy vehicles increases claim costs to some extent. New energy vehicles: These refer to vehicles that use non-conventional vehicle fuels as power sources (or use conventional vehicle fuels with new onboard power devices), integrating advanced technologies in power control and driving systems to form vehicles with advanced technical principles, new technologies, and new structures. To support the development of the new energy vehicle industry, the government has also implemented subsidy policies to encourage consumers to purchase new energy vehicles.