New energy vehicle premium increase of up to 80%? The response came from the relevant people

Late last year

Adjusted new energy vehicles

Captive insurance products are officially launched

Immediately, the owner of the car said

New energy vehicle premiums "soared"

There are even Tesla owners who say

Premium overnight

From 8278 yuan soared to more than 14,000 yuan

Up to 80% increase

How big is the change in new energy vehicle insurance premiums?

New energy vehicle premiums

What is the situation in the Hainan market?

New Hainan client, Nanhai Network, Nanguo Metropolis Daily reporter visited the market to learn that at present, many companies in Hainan have launched new energy vehicle insurance, premium growth does exist, but an overnight surge of 80% is just a case, under normal circumstances, the premium is related to the number of violations and insurance times of the owner. Industry insiders said that whether premiums go up or down varies from person to person. In the future, with the accumulation of exclusive products in the expanding market, the loss ratio of new energy vehicles will gradually return to a reasonable level.

Hot discussion

"More than 200,000 cars, the premium is tens of thousands of yuan"

New energy vehicle insurance premiums generally increased?

The soaring premium soon attracted the attention and heated discussion of new energy car owners, and many car owners in Hainan also posted insurance policies to discuss the rise and fall of car insurance.

"I bought a car and can't afford it." "Today's offer came over, and it seems that the price increase is true." ...... In recent days, the group of car owners of Haikou Tesla, Mr. Wang, has been talking about the topic of new energy car insurance, and everyone generally reflects that the premium has risen.

Haikou car owner with the network name "Peanuts" said that he recently proposed a new car, but the node of buying a car is exactly the knuckle of the new energy car insurance line, catching up with the car insurance price increase, it is very depressed, "more than 200,000 cars, the premium is tens of thousands of yuan, so who is in the mood to buy a new energy car?" The owner said that in recent times, the new energy vehicle insurance premium has undergone a rollercoaster change, but overall, the slightly more expensive car, the premium has risen a lot more than before.

However, some car owners said, "There is no sense of price increase, and this year's premium is less than last year's." In fact, whether there is a change in new energy vehicle insurance, major car companies have recently issued explanations of the relevant situation. Among them, Tesla said that from the latest statistics, the average increase in premiums nationwide is about 10%, and the premiums of the high-performance models that are more concerned have risen by less than 20%; Xiaopeng Motors also said, "The average increase of Xiaopeng models across the board ranges from 2.9%-18.2%. The above-mentioned car companies all said that the increase in different insurance companies, different regions and different models was slightly different.

market

New energy vehicle insurance is online in Qiong

Nearly 80% of policy premiums were flat or declining

What is the market situation in Hainan? Zhang Bo, a senior automobile salesman in Haikou, told reporters that the new energy exclusive car insurance does have some price increases, and the price increase models are mainly Tesla, Weilai, Xiaopeng, BYD, etc., of which the premium increase from BYD and Tesla is the most obvious. However, the price of exclusive car insurance is generally higher than before in 100 yuan to 1,000 yuan, which is not as exaggerated as the doubling of the online rumors. Zhang Bo said that the price increase of each car is linked to the risk of the vehicle and cannot be generalized.

Manager Qian, a business personnel in charge of car insurance claims of an insurance company in Hainan, told reporters that tesla and other models generally have higher premiums, because their high insurance rates, high maintenance costs, and high prices have increased the independent pricing coefficient, so Tesla has become a representative of the premium "leading".

It is reported that at 0:00 on December 27, 2021, Hainan's "Exclusive Terms for Commercial Insurance for New Energy Vehicles (Trial)" was officially launched, the customized demonstration clauses and benchmark premium tables for new energy vehicles were fully released, and many companies such as Hainan Picc & Casualty Insurance, Ping An Property & Casualty, and CPIC Property & Casualty insurance have launched new energy vehicle insurance.

In response to the problem that new energy car owners discuss that car insurance premiums will rise, the relevant responsible person of the Hainan Insurance Association told reporters that according to the model clauses and the benchmark premium table and related instructions, the overall premium of new energy vehicles in the insurance of car damage insurance and the three insurances is slightly lower than the premium after the comprehensive reform, "According to the calculation of BOC Insurance, 79.3% of the existing insurance policy premiums are flat or have declined, and the new energy vehicles with a price of less than 250,000 yuan are insured with car loss insurance, and the premium will basically not rise." The person in charge said.

The reporter learned that for new energy vehicles with a price of less than 250,000 yuan, the benchmark premium is not floating; for new energy vehicles with a price of more than 250,000 yuan, the benchmark premium can fluctuate up and down. That is to say, the premium of new energy vehicles has risen and fallen, and the price of 250,000 yuan is a hurdle, especially for models below 200,000 yuan, if there is no insurance information in the previous year, then most of the quotations will be lowered.

analyse

Autonomous pricing factors

Push up premiums for some models

It can be seen that the higher the price of new energy vehicles, the greater the possibility of rising premiums. How did this happen?

Manager Qian told reporters that it is not possible to simply compare the premium, but also to look at the responsibility of protection. The protection liability of the exclusive car insurance of new energy vehicles has been greatly expanded compared with the insurance of fuel vehicles. "The launch of new energy vehicle exclusive insurance has made up for many gaps in the field of new energy vehicle insurance, new energy vehicle insurance includes three main insurances and 13 additional insurances of automobile loss insurance, third-party liability insurance, and vehicle personnel liability insurance, and the insured can choose all or part of the insurance." Compared with the car insurance of traditional fuel vehicles, the insurance liability of new energy exclusive car insurance is further enlarged, and it is more suitable for the characteristics of new energy vehicles, not only considering the spontaneous combustion risk of new energy vehicles, but also considering the damage risk of "three electricity" (that is, batteries, motors and electronic controls).

Manager Qian said that compared with the use process of traditional car insurance, the main insurance liability of the exclusive clause of new energy vehicles has also increased the charging process. At the same time, an exclusive additional insurance has also been set up, the "Fire Accident Limit Double Insurance", that is, the third-party liability insurance of the insured new energy vehicle, and the applicable liability limit is doubled on the basis of the insurance policy. Of course, car owners may also face premium growth while enjoying high-quality insurance services.

According to industry policies, the benchmark premiums of new energy vehicle tripartite insurance and vehicle damage insurance will decline by about 0.8% overall. The rate adjustment coefficient = no compensation preferential treatment coefficient× traffic violation coefficient× the autonomous pricing coefficient, of which the autonomous pricing coefficient is the most complex, the insurance company will set different coefficients according to its own profit and loss and different vehicle risk conditions.

Judging from the current business situation, the loss rate of new energy vehicles is slightly higher than that of traditional fuel vehicles, and the frequency of insurance is indeed higher than that of traditional fuel vehicles. Manager Qian analyzed that this is due to the fact that new energy vehicles are in the initial stage of development, and the product performance and product driving operation of each main engine factory are quite different, such as electric vehicles have the attributes of speeding up fast and drivers are mostly "novices", so the probability of accidents is also relatively high compared to fuel vehicles, and the premium price increase is mainly for models with high claim rates and claim amounts.

forecast

Experts: Expected to come out of the "low-high-low"

Inverted V-shaped up and down trajectory

As of the end of December 2021, the number of new new energy vehicles in Hainan exceeded 55,000, the proportion of ownership increased to 7%, 5% higher than the national average, and the penetration rate of new vehicles in the market increased to 27.8%, more than twice the national average.

Leng Hui, president of the Hainan New Energy Automobile Association, said in an interview that the introduction of new energy vehicle insurance is a good thing, but the increase in premiums is not conducive to the promotion of new energy vehicles.

Leng Hui analysis said that the current new energy vehicle after-sales supply chain system is not perfect, spare parts supply system and maintenance price system is not well established, is an important reason for the impact on premiums. At present, the new energy automobile industry organization is working with insurance companies to improve the construction of relevant systems and promote premiums to a reasonable level.

Song Xiangqing, deputy dean of the Institute of Government Management of Beijing Normal University and director of the Industrial Economic Research Center, also believes that the sharp rise in insurance premiums of new energy vehicles will hurt the rights and interests of consumers who support the development of new energy vehicles, and encourage residents to buy new energy vehicles, but insurance companies increase the premiums of new energy vehicles.

Song Xiangqing said that in the future, insurance companies will become more and more accurate in calculating the risk probability of new energy vehicles of various brands, and increasing the premium of new energy vehicles with high risk will actually become the driving force for the elimination of new energy vehicle brands with poor quality. It is expected that the premium of new energy vehicles will go out of a low-high-low inverted V-shaped trajectory and eventually remain in a reasonable range.

Source: New Hainan Client, Nanhai Net, Nanguo Metropolis Daily