Why Are Electric Vehicles So Expensive to Insure?

02 Nov 2022 | Abstracted from Motley Fool

"Electric vehicles employ more complex technology than a lot of traditional gas-powered vehicles. This technology helps drivers save on gas and on long-term maintenance costs, but it comes back to bite drivers when they get into an accident.

"...The parts needed to fix electric vehicles can be expensive...many mechanics aren't well versed in how these electric vehicles work...insurers charge owners of electric vehicles higher rates."

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