'You've got length of repair times going up, you've got the cost of the component parts going up, and you probably see more EVs written off because residual values are particularly low at the moment,' said Carl Shuker, the broker's UK and Ireland boss.
The rise in EV insurance premiums is larger both proportionally and in real terms compared to the increase in insurance costs for combustion engine cars. While the cost of insuring a typical petrol car rose by 31% over the past year, it remained £668 ($911) less expensive per year than insuring an electric car.
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