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The shift towards electric vehicles is causing quite the buzz in the insurance world. Our very own Adrian Coupland told Insurance Times that this shift is sparking a fresh underwriting approach and a new set of principles. With the EV market's emerging technology, insurers are navigating uncharted waters when it comes to assessing claims and repair costs. Read the full piece to learn more insights from Adrian >> https://lnkd.in/eTRiy6Pe #EV #insurance #underwriting

Whether you’re considering an electric car for the cutting-edge technology, the fuel cost savings or the environmental benefits, it’s important to understand the specifics about EV insurance. Despite their higher cost, there are more electric vehicles on the road than ever. Insurance companies, in turn, have responded with customized offerings. Here's what you need to know. https://yhoo.it/45WguP0

EVs: A Shock to the Insurance World? ⚡️ Industry insights from Ben Taylor As the UK accelerates towards its 2035 deadline to end internal combustion engine car sales, electric vehicles (EVs) are gaining traction. However, challenges emerge for insurers, prompting John Lewis Financial Services to temporarily halt EV cover. Ben Taylor, Business Development Director at Automated Insurance Solutions, adds nuance. While acknowledging the difficulties in justifying high repair costs for EVs, Taylor believes they don't inherently pose additional risks, especially regarding fires. Despite current challenges, @Jeff Winn, Winn Group’s Executive Chairman, optimistically suggests that as diesel and petrol car production diminishes, repair cost challenges may ease. Meanwhile, Taylor stresses the importance of adapting to the evolving landscape, emphasising that EVs "have their place." Read the full article here : https://lnkd.in/dgstDueD #ElectricVehicles #InsuranceIndustry #FutureOfMobility #veriskclaims

Despite promises of reduced emissions, the production of EV batteries exacts a heavy toll on the environment, with extensive fossil fuel mining required. Moreover, EVs face challenges in longevity and repair-ability, exacerbating concerns about resource depletion and scarcity of skilled mechanics. These issues not only impact car owners but also insurers and repair companies, driving up premiums and contributing to premature vehicle disposal. Join us as we explore the multifaceted challenges of EVs and the need for holistic solutions to achieve sustainable transportation. https://lnkd.in/g3K9RUSQ

We're providing additional cover for our customers with alternatively fuelled vehicles.   Following research with fleet operators, we've increased our cover as standard across our Fleet and Minifleet products. This makes sure we're providing cover that addresses their needs and helps to give peace of mind, especially with range anxiety being such a common worry.   These changes help demonstrate that the customer is at the centre of the decisions we make and will support Aviva achieving its ambition to become the number one insurer of Electric Vehicles in the UK by 2030.   You can read more detail about these changes in the article below.   https://lnkd.in/eXDTShVE Aviva Broker UK @AFVClauses @Making it Click @Aviva GCS @Electric Vehicles Aviva Aviva Business @Aviva

Trip hazard!!! When insuring electric vehicles, there are specific issues you should be aware of - like cover for the charging cables, as well as 3rd party liability cover if someone trips over them and injures themselves! This blog post looks at what you need to know. Fortunately, CHAS Protect - our new insurance solution unique to CHAS members - ensures those sorts of things are catered for!

During the New Year, many of us are reflecting on what we achieved last year, as well as thinking about ways to improve our lives and the world around us. As New Years' resolutions go, switching to an electric vehicle is a good ambition to have. As with any change, do your research, consider all the implications, put a proper plan in place and then manage the transition carefully. Learn more about electric vehicles: https://lnkd.in/eBsEjT4C Talk to the team at BCD who understand all the aspects relating to electric vehicle insurance: https://lnkd.in/eyWucfPc #GoElectric #CleanerDriving #SustainableDeliveries #CourierInsurance #VanInsurance

Transitioning to electric trucks? It's a financial and logistical journey, especially when it comes to insurance! Last week on 10-44, Cover Whale's Kristy N. dove into what the shift means for your wallet. Electric trucks are a newer territory with little historical data to guide insurance premiums, meaning what carriers pay now might not resemble future costs. Plus, high battery prices and the specialized training needed for EV maintenance add to the complexity. And don’t forget, there’s no BEV junkyard for budget-friendly parts yet! Tune in as Kristy Neal shares crucial insights on the evolving costs of insuring and repairing electric fleets. This episode is packed with valuable information for anyone navigating the trucking industry's electrified roads. #TruckingIndustry #ElectricVehicles #InsuranceCosts #FleetManagement #CoverWhale

Last week on 10-44, I explored the intricate journey of transitioning to electric trucks. Beyond the immediate financial and logistical challenges, such as the scarcity of historical data for insurance premiums and the high costs associated with batteries and specialized training, there's a promising horizon. Electric trucks offer unprecedented data capture capabilities, allowing us to tap into detailed operational insights and promote enhanced driver safety in ways not previously possible. This wealth of data not only aids in refining insurance models but also supports our commitment to safety and efficiency within the fleet management ecosystem. Let's embrace these opportunities and steer towards a more informed and sustainable future together! #transportationinsurance #trucking #electrictrucks #logistics