This study sheds light on a crucial aspect of owning an electric vehicle (EV) that often goes overlooked: insurance costs. While EVs are touted for their lower ownership costs compared to traditional gas-powered cars, it turns out that EV owners are facing significantly higher insurance premiums.
According to a recent study by Insurify, EV drivers pay an average of 49% more in insurance premiums compared to those who drive internal combustion cars. The average annual premium for EVs nationwide is $3,442, translating to around $286 per month. In contrast, gas cars have an average annual premium of $2,320, or $193 per month. This means that EV owners are paying an extra $1,122 per year, a substantial amount that could cover a significant portion of their annual driving expenses.
The higher insurance costs for EVs can be attributed to several factors. Firstly, EVs are more expensive to repair and replace, with repair costs averaging 22% higher than gas-powered cars. The higher price tag of EVs, with an average of $57,734 for new EVs compared to $48,799 for gas cars, adds to the financial risk for insurers in the event of a total loss. Additionally, EVs require more mechanical labor hours for repairs, with 3.04 hours needed for EVs compared to 1.66 hours for gas cars. The scarcity of aftermarket and recycled parts for EV repairs further drives up costs.
Moreover, the advanced technology present in many EVs, such as multiple sensors and cameras for advanced driver assistance systems (ADAS), makes them more expensive to insure and repair. Even minor collision damage to these sophisticated systems can result in costly repairs.
Another contributing factor to the higher insurance costs for EVs is the limited availability of trained technicians and specialized tools for servicing EVs. Not all repair shops are equipped or willing to work on EVs, leading to a shortage of qualified technicians. The need for expensive EV-specific tools and diagnostic systems further adds to the overall cost of servicing EVs.
Unsurprisingly, Tesla’s EVs top the list of the most expensive EVs to insure, with the Model X being the costliest at an average of $4,765 per year. This highlights the significant impact that insurance costs can have on the overall ownership expenses of EVs.
In conclusion, while EVs offer numerous benefits such as lower operating costs and environmental sustainability, it’s essential for prospective EV owners to consider the potentially higher insurance costs associated with these vehicles. As the EV market continues to grow, insurers and repair shops will need to adapt to meet the unique needs of EV owners and ensure that insurance costs remain manageable for drivers looking to make the switch to electric.
Electric vehicles (EVs) have been gaining traction in the automotive industry, offering a cleaner and quieter alternative to traditional gas-powered cars. However, one aspect where EVs are still lagging behind is in insurance costs. In some states, the data shows that insurance premiums for EVs can cost 75% or more than their gas-powered counterparts.
This disparity in insurance premiums can be attributed to several factors. One of the main reasons is the higher cost of repairing or replacing parts for EVs compared to gas-powered vehicles. EVs have complex electrical systems and specialized components that can be more expensive to repair or replace in the event of an accident.
Another factor contributing to higher insurance premiums for EVs is the limited availability of skilled labor and specialized repair shops for electric vehicles. Insurance companies may need to charge higher premiums to cover the cost of repairs by certified technicians and specialized EV repair facilities.
Additionally, the higher cost of EV batteries plays a significant role in insurance premiums. Batteries are one of the most expensive components of an EV, and in the event of damage or theft, insurance companies may need to cover the cost of replacing the battery, leading to higher premiums for EV owners.
While the current trend of higher insurance premiums for EVs may seem discouraging, experts in the industry believe that this is a temporary situation. As more people adopt EVs and the market for electric vehicles grows, economies of scale will lead to lower costs for batteries, parts, and repairs. Eventually, insurance prices for EVs are expected to normalize, but it may take some time for the industry to catch up.
Despite the higher insurance costs, EVs offer numerous benefits such as environmental sustainability, improved performance, and lower operating costs. As the automotive industry continues to evolve and transition towards electric vehicles, it is important for insurance companies to adapt and provide competitive rates for EV owners.
Nissan’s next-generation GT-R will be a hybrid, combining traditional internal combustion power with an electrified component. However, Nissan’s Head of Product Planning and Strategy, Ivan Espinosa, has made it clear that the GT-R will not be fully electrified. This decision was made after testing electric prototypes for the GT-R, which were unable to meet the high-performance expectations of the iconic sports car.
According to Alfonso Albaisa, Nissan’s Senior Vice President for Global Design, the company is exploring the use of solid-state batteries as the “key enabler” for the next-generation GT-R. Solid-state batteries offer higher energy density and faster charging capabilities, which could provide the performance needed for the GT-R.
While a full battery electric vehicle (BEV) is not on the table, Nissan is considering mild and plug-in hybrids for the GT-R platform. These hybrid options would include a small battery pack and offer a balance between electric range and performance. The plan is to equip the GT-R with a two-turbocharged V6 engine paired with a hybrid component utilizing solid-state batteries.
Although the exact details of the hybrid system have not been finalized, Nissan expects the next-generation GT-R to hit the streets in the next three to five years. This timeline aligns with Nissan’s plans to start producing solid-state battery packs in 2028.
In other news, China’s EV charging network has reached a new milestone by delivering 7.7 terawatt-hours of electricity to electric vehicles in July. This massive amount of electricity is equivalent to Tesla’s North American Megafactory’s annual battery production capacity multiplied by 192. China’s EV charging infrastructure now includes 16.7 million charging units, supporting the country’s 25.5 million battery-electric vehicles on the road.
China’s rapid growth in EV charging infrastructure reflects the increasing demand for electric vehicles in the country. The government’s efforts to expand charging facilities have resulted in a 93.2% year-on-year increase in charging units in the first seven months of 2025. With two chargers for every five New Energy Vehicles on the road, China is paving the way for a cleaner and more sustainable transportation future.
But the rise of hybrids is undeniable. With the increasing shift towards electric vehicles and the push for sustainability, hybrids are becoming more popular among consumers. The Toyota Prius, once the butt of jokes, is now seen as a practical and environmentally friendly choice for many drivers. The technology has come a long way since its inception, offering better performance and efficiency than ever before.
Enthusiasts are starting to take notice as well. The appeal of instant torque and improved fuel economy is drawing more people towards hybrids. The idea of combining the best of both worlds – electric power for efficiency and internal combustion for performance – is gaining traction among car enthusiasts. The Nissan GT-R, a beloved icon in the performance car world, is rumored to be going hybrid, further solidifying the shift towards electrification in the automotive industry.
It seems that the stigma surrounding hybrids is fading away as more people realize the benefits they offer. From lower emissions to better fuel economy, hybrids are proving to be a viable option for consumers looking to make a greener choice without sacrificing performance. As infrastructure continues to grow and support the adoption of electric vehicles, the future looks bright for hybrids and the automotive industry as a whole.
So, are enthusiasts becoming more welcoming of hybrids? It certainly seems that way. With the rise of electric vehicles and the push for sustainability, hybrids are no longer the punchline of a joke but a serious contender in the automotive world. As technology continues to improve and evolve, hybrids will likely become an even more attractive option for drivers looking to balance performance and efficiency in their vehicles.