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Will Insurance Costs Derail the EV Revolution?
Real Clear -Wire ^ | August 2, 2023 | Duggan Flanakin

Posted on 08/05/2023 12:53:08 PM PDT by chickenlips

Four hundred ninety-eight electric vehicles (EVs) and over 3,200 other vehicles, including 350 Mercedes Benzes, were bound for Egypt on the Fremantle Highway when one or more of the EVs caught fire, costing at least one seaman his life and injuring several others. Curiously, the Dutch coast guard had initially reported that only 25 of the vehicles were battery-electric models.

At last report, the Dutch coast guard admitted that it has been unable to put out the fire and that the ship has taken on water and is “listing” and on a trajectory toward a capsize. Should the ship sink, the total loss would also threaten the Frisian island of Ameland, part of a UNESCO World Heritage Site that is home to over 10,000 aquatic and terrestrial species and located near one of the world’s most important migratory-bird habitats.

On a global scale, of course, 3,000 vehicles are but a drop in the bucket, and in insurance terms, the loss of one 18,500–ton transport ship and one human life (all the wounded are expected to survive, despite broken bones, burns, and respiratory problems) is only so much. To compute a total cost, the ecological devastation would also have to be factored in, along with the cost of rescue, firefighting, and salvage operations.

But all in all, this was a freak accident, a one-off. This stuff never happens. Right?

>SNIP>

(Excerpt) Read more at realclearwire.com ...


TOPICS: Business/Economy; Culture/Society; Germany; News/Current Events; United Kingdom
KEYWORDS: automotive; electric; electricvehicles; ev; evs; fires; insurance
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I don't think the issue is just auto insurance. People are getting their homeowners insurance cancelled in CA due to potential destruction due to wild fires and FL due to hurricanes. How long before insurance companies start cancelling policies due to the fire risks of owning a EV or electric bike? At a minimum, I wouldn't be surprised if they start writing in language where they won't pay for damage caused by these lithium battery vehicles.

And the fire issue will only get worse when the Chinese EV's come to the USA. Check this out: https://youtu.be/yOA7qKMcjcE

1 posted on 08/05/2023 12:53:08 PM PDT by chickenlips
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To: chickenlips

Sorry, here’s the active link.

https://youtu.be/yOA7qKMcjcE


2 posted on 08/05/2023 12:54:57 PM PDT by chickenlips (Neuter your politicians)
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To: chickenlips

A year or so ago the same thing happened, an EV caught fire on a car transport and the thing sunk, I think. I figured that was the end of shipping EVs but it wasn’t. Now it happened again. I wonder what Lloyd’s of London is going to do about this given the politics of the matter.


3 posted on 08/05/2023 12:59:50 PM PDT by Doctor Congo
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To: Doctor Congo

Here is the previous fire (2022): https://www.ctif.org/news/burning-ship-carrying-lithium-ev-cars-sank-outside-azores
The cargo ship Felicity Ace, carrying thousands of cars, has sunk due to the fire onboard which occurred in mid February. The ship carried a large amount of electric cars, and the burning lithium on board is thought to have made extinguishing efforts much worse.

In mid-February, a large fire broke out on the cargo ship Felicity Ace, which transported thousands of cars to the United States - including an unknown number of electric cars that are believed to have made the situation worse.

The 200 meter long cargo ship Felicity Ace sank after a fire that broke out on board, and lasted for 13 days, reports the news agency AP. The ship was transporting around 4,000 cars between Germany and the United States. The fire started on one of the cargo decks on February 16.


4 posted on 08/05/2023 1:07:19 PM PDT by Doctor Congo
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To: chickenlips
should an EV fire break out on a ferry boat carrying hundreds of vehicles and thousands of passengers? Or in an underground parking garage in a New York high-rise?

a minor fender bender . . . insurance company gladly offered to pay about $1,600 for the repairs, but the certified repair shop produced a bill for $42,000 . . . the accident damaged a sleek panel that extends from the truck’s rear to front roof pillars. To repair and repaint the vehicle, mechanics had to remove the interior ceiling material (the headliner) and the front windshield

insurance companies are having to write off EVs with just a few miles – leading to higher premiums – because of the many EVs for which there is no way to repair or assess even slightly damaged battery packs after accidents ...

may not withstand an accident as well as traditional gasoline-powered vehicles. EV batteries are vulnerable to damage, and with any indication of a compromised battery, insurance companies will likely declare an EV crash a total loss

EVs can be safely towed only on a flatbed truck with enough load capacity to handle the extra weight of the vehicle. Drivers are warned not to allow anyone to try to tow their EV with its wheels on the ground. Improper towing can damage, even total, the vehicle

The price of designing "cool", exotic vehicles.

5 posted on 08/05/2023 1:15:31 PM PDT by Jeff Chandler (THE ISSUE IS NEVER THE ISSUE. THE REVOLUTION IS THE ISSUE.)
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To: chickenlips

Insurance on one of the EVs my company bought was almost double the same car that was fossil fuel.


6 posted on 08/05/2023 1:17:12 PM PDT by McGavin999 ( A sense of humor is a sign of intelligence, leftists have no sense of humor, therefore………)
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To: chickenlips

“Derail the revolution”??

The only “revolution” here is being led by our GD government against the governed. They take our money and use it to subsidize certain rich peoples’ purchases of the government’s favorite toy du jour.

This is not a bottoms-up market-led revolution that way semiconductors, television, radio communications, and fracking were. This is top-down, coercive, misguided industrial policy by a know-nothing cadre of idiots in government.


7 posted on 08/05/2023 1:19:35 PM PDT by ProtectOurFreedom (We are proles, they are nobility.)
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To: McGavin999
FOSSIL FUEL

8 posted on 08/05/2023 1:20:09 PM PDT by Jeff Chandler (THE ISSUE IS NEVER THE ISSUE. THE REVOLUTION IS THE ISSUE.)
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To: chickenlips

What make anyone think the EV loving elites care about the cost of insurance to the average consumer? They’re sure these costs must be borne to keep the earth from igniting. After all, if these costs are too much then the little folks can start walking, riding bicycles, or public transit to get around.


9 posted on 08/05/2023 1:24:47 PM PDT by DugwayDuke (Most pick the expert who says the things they agree with.)
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To: chickenlips

> At a minimum, I wouldn’t be surprised if they start writing in language where they won’t pay for damage caused by these lithium battery vehicles. <

And I wouldn’t be surprised if the government made it illegal to “discriminate” against EVs. That would, of course, cause everyone’s rates to rise.

No complaints, please. We’ve all got to make sacrifices to save the Erf from a nonexistent threat.


10 posted on 08/05/2023 1:26:47 PM PDT by Leaning Right (The steal is real.)
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To: chickenlips

The EV vs ICE vehicle argument was settled by 1920, EV’s lost. They had the same problems then as they do now. They were very expensive and had limited range back then too. The big advantage that the EV’s of the early 1900’s have over today’s EV’s is that they probably wouldn’t spontaneously combust and burn your house down.


11 posted on 08/05/2023 1:27:35 PM PDT by wjcsux (On 3/14/1883 Karl Marx gave humanity his best gift, he died. )
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To: McGavin999

I recently trade my 2022 Toyota Corolla Hybrid ($26K) for a 2023 Chevrolet Silverado gas ($73K) and my insurance went DOWN $35 per month.


12 posted on 08/05/2023 1:34:33 PM PDT by Reno89519 (DeSantis 2024. Successful Governor, Honorable Veteran, Respectful, Respected.)
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To: Leaning Right
I wouldn’t be surprised if the government made it illegal to “discriminate” against EVs

I believe that is what will happen. We will all end up subsidizing the insurance costs for the EV-owning elitists.

13 posted on 08/05/2023 1:35:09 PM PDT by HartleyMBaldwin
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To: McGavin999

“Insurance on one of the EVs my company bought was almost double the same car that was fossil fuel.”

Thanks for that tidbit. The article said nothing about insurance premiums gas versus electric.


14 posted on 08/05/2023 2:07:01 PM PDT by cymbeline
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To: chickenlips

The risk will be socialized by a law prohibiting insurance companies from excluding or risk pricing EV’s and associated dwellings. We’re too far down the road for Big Daddy G to let insurance issues kill their EV fantasies.


15 posted on 08/05/2023 2:11:19 PM PDT by armydoc
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To: chickenlips

Ninety-five percent of EV’s are still on the road, the rest of them made it home.


16 posted on 08/05/2023 2:11:36 PM PDT by SkyDancer (If At First You Don't Suceed, Well So Much For Skydiving ~)
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To: chickenlips

Why don’t these bombs have a on/off switch? Or battery cable disconnect? Especially for transporting!


17 posted on 08/05/2023 2:12:26 PM PDT by Mark (DONATE ONCE every 3 months-is that a big deal?)
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To: chickenlips

just another reason to Mandate all Public Employee’s nationwide be prohibited from using and method or mode of transportation that consumes any type of fossil fuel, for transportation to and from their respective work place.


18 posted on 08/05/2023 2:15:20 PM PDT by eyeamok
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To: ProtectOurFreedom

Well said!


19 posted on 08/05/2023 2:21:07 PM PDT by Bonemaker (invictus maneo“What were you doing in the store? You were eating the food?”)
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To: Mark

They do. the battery it’s self combusts and burns.


20 posted on 08/05/2023 2:26:25 PM PDT by cableguymn
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