Posted on 10/21/2023 10:49:14 AM PDT by RomanSoldier19
lectric cars risk becoming effectively uninsurable as analysts struggle to put a price on battery repairs, the researcher for the car insurance industry has said.
Jonathan Hewett, chief executive of Thatcham Research, the motor insurers’ automotive research centre, said a lack of “insight and understanding” about the cost of repairing damaged electric car batteries was pushing up premiums and resulting in some providers declining to provide cover altogether.
(Excerpt) Read more at msn.com ...
fire pits are toxic air pollutants.
see military fire pit/ va.
The problem with that route is your mortgage holder if you have one. I can see PMI going up for homeowners with electric vehicles and/or in areas where weather can be a problem.
Rifle is cool, and the Rifle Falls are a wonder. Spectacular scenery, this part of the state is like being back in time. I love living with Ranchers and farmers and buying my produce with the dirt still on it. The Maybell horse drive is an annual great event, the buffalo roundup is really something to see. There’s the Lavendar Festival, the Bee festival, Peach festival, Wine festival and on and on. Out here the real animals are dangerous instead of the human animals in urban areas. And if you look stuck on the side of the road, someone will stop pretty quick and ask if you are OK.
“Liability insurance is really cheap.” They call those policies “balloons”. I have $2mm in coverage for $42.33 a month. One million is about $33 a month, IIRC. And you don’t have to be worth a million to get sued for $2mm.
Man! The blush sure came off that rose in a hurry.
You're right about liability insurance... thanks for the numbers - keyhopper will like that. Also, you live in Paradise. Sounds like you've got things together Saxxon.
The short Mercedes AA Class video explains how Mercedes does just that. It's worth watching.
Thanks. I’ve moved in retirement because a place that was great became not-so-great (too close to Denver). I think this current location will work for the duration since the duration is much shorter now.
Salt water can start EV batteries on fire... imagine living in Florida and dealing with storm surge. You take your gas car to evacuate and minor flooding causes your home to burn down from the EV fire in the garage.
That said, I don't have a mortgage - but still every year I consider and then put off taking the risk of self insuring. Younger people with years to 'make up for the loss' are more likely to try it. Unfortunately much higher insurance rates are going to push lots of us into taking the risk... if we want to or not.
One more reason to hate Biden and his goons (or just to vote against them) - the flippant way they allowed massive inflation... and the damn illegals that will cost us a fortune to educate, provide health care for etc etc etc. Yeah, Biden's choices help white liberal elties steal more of the country's life - but they sure hurt the rest of us.
Take care of your health - we need your voice here.
All the reasons I like the place except the power company.
RE: Here they get insurance long enough to tag the car
Been wondering when the EVs would not be insurable.
As to EVs, I wonder if there is a coverup. We’ll find out later if a lot of EVs were burned up and we didn’t know.
When the early Ford rollover accidents were found to be from a design problem along with Firestone tire tread separation problems there were multiple lawsuits involved. One amazing document in court was a letter from an office filing cabinet at Ford saying “Don’t let anybody know we found out this is our fault. Keep the results away from the public.”
They made a big push saying dozens of times in letters to accident victims “No one but you has had a complaint about this problem. While we are sorry about the accident it was caused by driver error, not a flaw in our vehicle.”
They were sued big time.
One summary:
More than 200 deaths and 700 injuries in the United States were blamed on Ford Explorers rolling over after the tread separated on Firestone tires.
In 1978, Firestone recalled 14.5 million tires—the largest tire recall in history— because the excess application of the adhesive that binds the rubber and steel had caused 500 tread separations and blowouts. Firestone paid a $500,000 fine for concealing safety problems.
Well, this all depends on your own personal financial situation.
If the worst happened, can you afford to rebuild or just buy another house from your own savings?
If so, then you can “self insure” so to speak. For people without substantial outside assets, who would depend on insurance to rebuild a house, going without insurance is risky.
I thank you, with humility.
Yes, though PMI goes away once your loan to value ratio falls below 80%. Simon Lagree your mortgagee will often ignore that, in which case you make a written request.
This article discusses the pros and cons of different EV battery chemistry. LFP batteries are less prone to thermal runaway, but don’t have the energy density of LI batteries
https://www.recurrentauto.com/research/lfp-battery-in-your-next-ev-tesla-and-others-say-yes
“All the reasons I like the place except the power company.”
Is it good old XCEL?! Hah, yeah a minor annoyance, but they can get under your skin. I have a friend who served on a PUC commission once. Most of his take on the exercise was unprintable if you get my drift. There’s a little co-op (GVA) on the Grand Mesa where I have some recreational/bugout land with electric service and they are good to deal with and reasonable.
I read claims that Ford got off easy. Videos of Explorer behavior after blowouts are scary to watch. Some engineers claimed they shouldn’t have become so uncontrollable from a blowout. I had total blowout at highway speed in a ‘69 Chevy C10 and it was nothing, I just pulled over to the shoulder. Heck of bang though.
Yup. I think they have a plant in rifle.
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