Xiaohui Lu, vice president of LexisNexis, stated that electric vehicles over 300 pound-feet of torque tend to have higher insurance premiums due to increased repair costs and risk factors.
Insurers may view higher-powered electric vehicles as a greater risk, making insurance for a Tesla, for example, over 50% above the national average due to the vehicle’s higher torque and repair costs.
The combination of weight and torque not only makes electric vehicles more costly to insure but also raises concerns about their handling and overall risk profile in the eyes of insurers.
Factors like higher prices, expensive repairs, and potentially increased daily mileage associated with high torque vehicles contribute significantly to the higher insurance loss cost, as suggested by recent analyses.
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