Survey Says High Insurance Costs Are Putting People Off EVs

A survey compiled by the Institute of the Motor Industry has concluded that high insurance premiums are the biggest factor preventing consumers from buying electric vehicles.

The study, exclusive to the UK, found that 40 per cent of the public have serious concerns about air pollution and believe that ‘Ultra Low Emission Vehicles’ are a key solution.

However, it was determined that insurers charge up to 50 per cent more for electric and hybrid vehicles due to their higher purchasing prices and the lack of technicians qualified to repair them.

As a matter of fact, it is reported that just 1 per cent of mechanics in the United Kingdom are qualified to work on the high-voltage systems of electrified vehicles. Due to the exorbitant insurance costs, 70 per cent of the 2,000 UK drivers surveyed said they were put off in buying electric and hybrid vehicles.

In a statement, the shadow Secretary of State for Environment, Food and Rurural Affairs, Rachael Maskell said “Members of the public are rightly concerned about air pollution, and many drivers clearly want to do their bit for the environment. But it’s up to the government to make sure the right incentives are there. The reality at the moment is that motorists are effectively penalised for choosing greener options. For that to change the government needs to step up and invest more in clean fuel vehicles, as well as the infrastructure and skills needed to support, service and maintain them.”

Following the results of its survey, the Institute of the Motor Industry has asked the UK government to allocate 30 million pounds of its £600 million EV promotion fund into training more mechanics to work on EVs.