[News-Oxcart Network]
Yesterday evening, Xiaopeng responded to some media about the rise in car insurance premiums that have been widely discussed by new energy car owners in recent days. Xiaopeng said: "According to the national premium feedback from the insurance departments on the 28th, the average increase of Xiaopeng Automobile's full range of models ranges from 2.9% to 18.2% (the increase of different insurance divisions, different regions, and different models is slightly different), and the specific amount is subject to the quotation of the local insurance division. ”
Judging from the data given, the model with the largest increase in commercial auto insurance premiums under Xiaopeng is the P7. Before the launch of the exclusive clause of new energy vehicle insurance (before December 27), the average quotation of commercial automobile insurance in the head insurance company in major cities across the country was 5600 yuan, while after December 27, the quotation was 6622 yuan, an increase of 18.2%.
Unlike Xiaopeng Automobile, which only gives the current premium changes, earlier on the 29th, Weilai said in the official APP that the 2021 version of the service will be upgraded, providing the same protection of three additional insurances added to the exclusive terms of new energy vehicle commercial insurance, the price remains unchanged, and users do not need to buy separately.
The reason why the two leading new power brands explained the problem of vehicle premiums before and after was because of the clarification and introduction of exclusive insurance for new energy vehicles.
On December 27, the new energy vehicle insurance trading platform was officially launched, and the first batch of exclusive insurance products for new energy vehicles were launched.
According to the "Exclusive Clauses for Commercial Insurance of New Energy Vehicles of the China Insurance Industry Association (Trial Implementation)" (hereinafter referred to as the "Exclusive Clauses") previously issued by the China Insurance Industry Association, the coverage of new energy vehicle insurance is not limited to the body included in traditional car insurance, and the battery and energy storage system, motor and drive system, other control systems and all other equipment at the factory are added. In addition, the Exclusive Terms also cover usage scenarios such as driving, parking, charging, and operation. What's more, the Exclusive Terms also contain 13 types of additional insurance, which are not covered by traditional car insurance.
The scope of protection has been expanded, and the original loss rate is relatively high for new energy vehicle insurance, and the increase in premiums is also reasonable.
According to people in the insurance industry, auto insurance includes compulsory traffic insurance and commercial insurance, and the commercial premium is equal to the benchmark premium multiplied by the rate adjustment coefficient. The rate adjustment coefficient includes the traffic violation coefficient, the no-indemnity preferential treatment coefficient and the self-pricing coefficient.
The benchmark premium is determined by the model itself, while other relevant factors are related to the vehicle's past accident rate, the owner's own violations and the actuarial results of the insurance company.
(The picture comes from the white crow research, invasion and deletion)
An important reference for the actuarial calculation of insurance companies is the odds, simply put, the high odds and the premium rise. Industry data show that the current new energy vehicle insurance loss rate generally exceeds 85%, and the semi-annual report data of Chinese Insurance shows that in the case of a year-on-year increase of 12.7 percentage points, the loss rate of motor vehicle insurance is also "only" 70.3%.
However, it is understood that the current new energy vehicle insurance exclusive products, the regulatory authorities have made provisions for their additional expense rates - not more than 15%, which means that the cost rate of new energy vehicle insurance exclusive products in the future is actually showing a downward trend.
The view is that the premium of new energy vehicles in the future will be a game of volume and electronic growth. Rising bicycle sales will dilute fixed costs and aftermarket parts costs, thereby driving lower premiums; however, as smart cars are equipped with more and more high-value electronic hardware such as millimeter-wave radar and lidar, vehicle maintenance costs will also increase. Judging from the current Tesla car owners who have reflected the most fiercely on the rise in premiums, even if they have reached the sales level of Model 3, they still have not been able to gain the upper hand in the game. Although premium increases involve a wider and more complex factor, the most superficial and intuitive sales volume is still the crux of many problems.