Electric car damage is significantly more expensive than for combustion engines
Damage to an Electric Vehicle costs significantly more than for a comparable vehicle with a combustion engine. In full coverage insurance, each damage on average costs up to 25 percent more, according to the Association of Insurers (GDV). The association urged manufacturers to protect batteries from damage caused by accidents as much as possible during the design phase of the vehicles. Currently, uncertainty in handling is leading to high costs.
"After accidents, the drive batteries are often completely replaced. In addition, the cars are stored for long periods in quarantine or even sunk in fire containers in water, which leads to total loss", explained GDV Managing Director Jörg Asmussen.
Instead, precise criteria for handling accident-damaged electric vehicles and guidelines for repair or partial replacement of damaged batteries are necessary. "Workshops, towing companies, fire departments, and experts need more support in dealing with heavily damaged electric vehicles."
The GDV compared 38 model series of electric cars and combustion engines that were as similar as possible for the investigation. Then, for the considered model series, the frequency and height of damages were evaluated over a period of three years. One result was also that in full coverage insurance, 20 percent fewer damages were reported for electric cars than for combustion engines.
Despite the lower damage frequency in electric cars, the costs associated with each incident can be significantly higher due to the complexity of battery replacement and storage procedures, as mentioned by Asmussen. Therefore, it's crucial for insurers to establish clear protocols for handling accident-damaged electric vehicles to minimize these expenses.
