Don’t Get Shocked!

Sounds like a blog about hiring electricians, and although I highly recommend hiring electricians with a license and proper insurance such as General Liability and Workers Compensation insurance, this is actually an article about your next vehicle.

Tesla, Rivian, Hummer and Ford Lightning electric vehicles are amazing vehicles but what happens when  things don’t go as planned. 

For many insurance agents, when a client calls and tells us they bought one of the EV’s we are faced with a huge issue we did not see coming.   Some companies are blackballing EV’s.   Absolute flat-out denials to offer coverage based on the vehicle being an EV.

So why is this, they have the best safety features to protect the passengers.  Most people know if you have a child in a car seat during an accident the seat should be thrown away and a new seat purchased and installed.   This is because child seats are tested and certified to work, once.  Single use, after an accident there may be structural failures the eye cannot see and therefore its disposal.

Well, EV’s have also evolved into that stance.  Not by their manufacturer but by the insurance industry.  In the past few years several electric cars have had batteries burst into flames at an accident, and sometimes weeks after the accident because the batteries received undetectable damage.  To prevent accusations of improper repairs insurance companies are replacing battery packs after even minor accidents.   So, a $5000 fender bender now comes with a 25-35,000 battery replacement.  And that changes the rates or leaves some insurers banning EV vehicles from coverage all together.

So, before you get shocked by a ridiculously high price or shocked you cannot get coverage get some insurance rates before the purchase.   Otherwise, the amount you saved on gas may end up going to the insurance company at a much higher rate.

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