why car insurance is more expensive

Model S Tesla essai 2020

It is a fact, the purchase of an electric car represents a larger budget than a model of the same category with a heat engine. Nevertheless, buyers make great savings on fuel and benefit from ecological bonuses that reduce the bill on purchase.

But before being tempted by an electric car, another cost must be taken into account: car insurance. According to a study by the insurance comparator Lesfurets.com, the cost of insurance for an electric car compared to a thermal model is much higher.

Insurance up to twice as expensive

To carry out its study, Lesfurets.com compared 28 insurance companies. To conduct an honest analysis, he compared models of the same category from the same manufacturer. For example the Renault Zoé with a Clio, the Volswagen ID.3 with a Polo or the Citroën C-zero with a C3. For each comparison, the experts used the same policyholder profile with a bonus of 72. For each model, the simulation related to comprehensive insurance.

The results are clear: for each comparison, the cost of insurance for the electric model is always more expensive than for the thermal model. At Renault, all-risk insurance for a Zoe ZE Intes R110 is even twice as high as for a Clio 1.0 SCE 65 Life (525 euros against 280 euros per year).

Why is electric car insurance more expensive?

These differences in insurance rates between electric and thermal models is very simple. Rami Karam, general manager of the Lesfurets.com site, explains to the Parisian:

Without integrating state aid or possible rebates from the manufacturer, the catalog price of a Zoe is twice as high as a Clio and we find it at the level of insurance.

Unstoppable logic. Indeed, the purchase price of an electric vehicle does not reflect its value due to the various discounts and the ecological bonus. This difference is important when taking out insurance since the insurer takes the value of the vehicle and not its purchase price to establish the cost of insurance.

However, insurers do not seem to take into account other very important criteria. On average, an electric vehicle driver travels fewer kilometers and drives slower than a thermal vehicle driver. Above all, electric cars require less maintenance and incorporate fewer parts likely to be replaced in the event of an accident. So many criteria that are not taken into account when they should reduce the cost of insurance.

In France, 110,916 new electric cars were sold in 2020 compared to 1.6 million thermal models. The three most popular models were the Renault Zoe, the Peugeot e-208 and the Tesla Model 3.

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