New energy vehicle exclusive insurance online Tesla owners why "a wailing"

Zhongxin Finance, January 14 (Ge Cheng) New energy vehicle captive insurance was officially launched at the end of December last year, and in recent times, many car owners have reported that the premium of vehicles has increased, and the range is not small. Some car owners even spit bitterly: "The fuel money saved by buying a tram is pulled back by insurance, and the cost of using the car is directly chasing the fuel car."

What is the sanctity of new energy vehicle exclusive insurance? Is the premium really nearly doubled by what the owner says? In this regard, China News Finance launched an investigation.

Where is captive insurance sacred?

The Exclusive Clauses for Commercial Insurance for New Energy Vehicles (Trial Implementation) (hereinafter referred to as the "Clauses") are new clauses issued by the China Insurance Industry Association on December 14, 2021. The "Provisions" are mainly formulated for the characteristics of new energy vehicles, and make a clearer division of insurance liability, which 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.

Infographic. China News Service reporter Jia Tianyong photographed

Different from traditional motor vehicle insurance, the "Clauses" combine the characteristics of charging new energy vehicles to develop three new insurance types: "Self-use Charging Pile Loss Insurance", "Self-use Charging Pile Liability Insurance" and "Additional External Grid Fault Loss Insurance", which not only covers the loss of the vehicle, but also includes the loss of auxiliary equipment such as charging piles and the property losses and personal injuries that may be caused by the equipment itself, aiming at the risks arising from auxiliary facilities in the application of new technologies. This is also the first time that auto insurance has underwritten external fixed auxiliary equipment, which is groundbreaking.

The "Clauses" use a listed expression and customized insurance liability to highlight the structural characteristics of the "three electricity" system of new energy vehicles. Such as batteries and energy storage systems, motors and drive systems, etc., and expand the scope of protection to vehicle-specific use scenarios, such as self-service charging, special vehicle engineering operations, etc., upgrade and optimize the connotation and extension of traditional car insurance, and enhance the applicability and pertinence of the terms.

It is reported that the new energy vehicle commercial insurance exclusive product has been officially launched on December 27, 2021, car insurance includes new energy vehicle loss insurance, new energy vehicle third-party liability insurance, new energy vehicle vehicle personnel liability insurance 3 main insurance and 13 additional insurance, according to the characteristics of new energy vehicles targeted to develop a special protection plan.

Why are premiums rising?

For the insurance price increase generally reflected by car owners, Tesla officials also responded. Statistically, the average increase in Tesla vehicle premiums is about 10%, and the premium increase of the high-performance version of the more concerned model is within 20% of the national average, and the specific amount needs to be subject to the quotation of the local insurance division.

Xiaopeng Automobile also released the "Explanation on the Premium Changes of Commercial Automobile Insurance of Xiaopeng Brand Models on the Launch of New Energy Vehicle Insurance Products" for the first time. Xiaopeng Automobile said that according to the national premium feedback from various insurance companies on December 28, 2021, the average increase of Xiaopeng Automobile's full range of models ranged from 2.9% to 18.2% (the increase of different insurance divisions, different regions and different models was slightly different), and the specific amount should be subject to the quotation of the local insurance division.

In fact, the scope of new energy vehicle captive insurance is wider, the scope of coverage is larger, and the applicable conditions are also the reasons for the increase in premiums. However, according to the official data of each brand, after the launch of the new energy vehicle captive insurance, the official of each brand said that the increase in premiums was not large, so what caused some Tesla owners to "cry out" for the rise in premiums?

Taking a Tesla best-selling model model in China, Model Y, as an example, before the launch of the new energy vehicle commercial insurance exclusive product on December 27, 2021, the annual premium of the new car was about 80,000 yuan, and after the launch of the new insurance product, the premium was about 14,000 yuan, an increase of nearly double, and the models with large premium increases were mostly concentrated in the new energy high-performance models of various brands.

This is related to its special process, the body, suspension a large number of all-aluminum materials. Although aluminum is light in weight and good in performance, it can effectively improve the acceleration and handling of the vehicle, but due to the lack of physical ductility of aluminum itself, it is impossible to carry out sheet metal spray painting operations like steel, and once there is a collision, it needs to be replaced as a whole, so the maintenance cost is higher, and the premium coefficient of the model will naturally rise.

It is understood that after the launch of this new regulation, most brands of new energy vehicle insurance have increased to a certain extent, but there are also some models of insurance price reduction. For example, the premiums of several new energy models under BYD and Roewe have not risen but have fallen.

Therefore, on the whole, the "fuel money saved by buying a tram is pulled back by insurance" reflected by some car owners is not a common phenomenon, but the insurance company has caused the premium of some specific models to rise due to comprehensive reasons.

Although after the launch of the exclusive product of commercial insurance for new energy vehicles, there are indeed some models of premiums that have risen, but due to the limited increase in premiums caused by the new regulations, and the insurance coverage after the implementation of the new regulations is greater, it will not increase the cost of using new energy vehicles, and the statement that new energy vehicles "cut leeks" through premiums is also nonsense. (End)