Since December 27, new energy vehicles have their own exclusive car insurance, and 12 mainstream property insurance companies have provided exclusive new energy vehicle insurance products.
Due to the structural difference between new energy vehicles and traditional cars, the exclusive car insurance of new energy vehicles includes vehicle fires, "three electricity" systems, and even charging piles outside the car are also included in the coverage.
However, after the release of the exclusive car insurance for new energy vehicles, many models of mainstream new energy vehicle brands such as Tesla have been accused of a sharp increase in premiums.
Not only the "three electricity", but even the charging pile is also protected
On December 14 this year, the China Insurance Industry Association officially released the "Exclusive Clauses for Commercial Insurance for New Energy Vehicles (Trial)" (hereinafter referred to as the "Exclusive Clauses"), which means that new energy vehicles will officially enter the era of exclusive auto insurance.
In addition to the well-known pure electric vehicles, PHEV (plug-in hybrid vehicles, including range extended range vehicles) and fuel cell vehicles can enjoy the insurance of new energy vehicles, and HEVs (oil-electric hybrids) that cannot be charged are not among the new energy vehicles.
With the official implementation of the "Exclusive Terms" on December 27, from then on, whether it is a new insurance or a renewed new energy vehicle, it can only be insured with the content of the "Exclusive Terms".
The model clause of commercial insurance for new energy vehicles (trial) mentions that the "three electricity" system, charging, etc. are also covered by insurance.
The main components of new energy vehicles mainly include batteries, motors, electronic controls of the "three electricity" system, related equipment also covers the charging pile outside the car, etc., Chinese Insurance Property Insurance on its public account introduction, in addition to the traditional traffic accident risk, battery fire, deflagration caused by the charging process and other accidents also constitute a new car risk.
Therefore, in the "Model Clauses for Commercial Insurance for New Energy Vehicles (Trial)" under the "Exclusive Clauses", the main insurance liability includes the losses caused by the fire and combustion of the vehicle and the hardware facilities such as "three electricity" and factory equipment, which is also the main difference between the exclusive insurance of new energy vehicles and ordinary automobile insurance.
With the increase of the service life of new energy vehicles, the battery will have a high probability of attenuation, which is not within the scope of insurance, and the loss caused by external power grid failure during charging is not within the scope of main insurance liability, but the additional insurance supplements it. At this stage, many new energy vehicle users have their own self-use charging piles, and additional insurance also increases the loss and liability insurance of self-use charging piles.
According to the China Insurance Industry Association, in terms of insurance liability, it not only provides protection for the "three electricity" system, but also comprehensively covers the use scenarios of new energy vehicles driving, parking, charging and operation. In the development of terms, it not only considers the current mainstream technology route, but also leaves room for innovation in the new format of the new energy automobile industry.
The market increase of new energy vehicles is currently very impressive. According to data from the China Association of Automobile Manufacturers, as of the third quarter of this year, the number of new energy vehicles in the country has reached 6.78 million, and this number is still growing rapidly, from January to November, the sales of new energy vehicles reached 2.99 million, a sharp increase of 166.8% year-on-year. According to the "New Energy Vehicle Industry Development Plan (2021-2035)" issued by the General Office of the State Council, it is expected that new energy vehicle sales will account for 20% of overall vehicle sales by 2025, and by 2035, pure electric vehicles will become the mainstream of new sales vehicles. It is worth mentioning that in November this year, the penetration rate of the new energy vehicle market in the current month has reached 20%.
Tesla and other models of insurance have increased prices?
So, is the premium of new energy vehicles rising or falling? According to the "Explanation on the Adjustment of the Benchmark Pure Risk Premium Table for Exclusive Products of New Energy Vehicle Commercial Insurance" issued by the China Insurance Industry Association in early December, compared with the current benchmark premium of traditional car insurance, the benchmark premiums of the three insurance and the vehicle damage insurance of new energy vehicles decreased by 0.8% as a whole, of which the benchmark premiums of the three insurances decreased slightly by 0.1%, while the benchmark premiums of the car damage insurance fell by 1.2%.
A number of insurance companies said that about 80% of new energy vehicle owners can enjoy the decline in benchmark premiums, but the actual premiums also depend on the probability of traffic violations, the number of insurances, etc. The owners should be subject to the actual premiums. However, industry analysts believe that the benchmark premium decline is mainly the low-end models in the market, such as the well-known Tesla, Xiaopeng, Weilai and other brand models, under the "Exclusive Terms", the premium may usher in growth.
New energy vehicles have exclusive insurance, and the premium price increase of Tesla models seems to bear the brunt of it. Nandu reporter Zhong Jianting photographed
Many Tesla owners said on social media that after the launch of the new energy vehicle exclusive insurance, the premium of the vehicle has been greatly increased, a 2021 Tesla Model Y insurance quotation shows that the commercial insurance quotation on December 23 is 7028 yuan, but the quotation after December 27 is as high as 13952 yuan, and the increase in quotation is mainly from the increase in car damage insurance, which has risen sharply from 5759 yuan to 12736 yuan. There are also quotations for the Medel 3 high-performance version that show that the insurance quotation has directly doubled from more than 9,000 yuan to about 18,000 yuan.
Mr. Feng, a Tesla owner in Guangzhou, told Nandu reporters that at the end of November, he purchased model 3 second-year insurance, and the total cost was only more than 5,000 yuan after the total cost discount, of which the car damage insurance was only about 4,000 yuan, "If it is purchased after December 27, the premium may rise by several thousand yuan." He joked that if the premium rises too much, then the cost advantage of driving an electric car is almost non-existent. According to a comparison of new energy vehicle premiums under the new and old terms, the premiums of brand models such as Xiaopeng, Weilai, Ideal, and Nezha have risen to varying degrees, but the increase is not as high as Tesla.
Some property insurance practitioners introduced to the Nandu reporter that the maintenance cost of new energy vehicles is high, and in case of fire, the amount of compensation is often high, and the scope of new exclusive insurance is also very wide, for insurance companies, it is easy to have "loss" pressure, so there is a sharp increase in premiums for high-end models.
The research reports of many securities companies have said that the insurance rate of new energy vehicles is higher than that of traditional fuel vehicles, and the compensation data is still accumulating, and the pricing of insurance companies is more passive.
Founder Securities non-bank analyst Han Zhenguo also believes that the current frequency and loss rate of new energy vehicles are higher than traditional fuel vehicles, and the compensation data of new energy vehicles is still in the accumulation stage, "The pricing of insurance companies for new energy vehicle insurance is more passive, and it seems that new business faces more challenges and smaller profit margins." ”
Nandu reporter Zhong Jianting