Electric cars are known for their inexpensive fueling and operational costs. However, EVs are still a relatively new technology (at least ones powered with lithium-ion batteries), and like all new tech, they are facing some growing pains. One of which includes more costly and time-consuming repairability.
In the unfortunate event of a collision, electric vehicle repairability costs will likely be higher than that of an internal combustion engine-powered vehicle. This comes via a report from an insurance-adjacent company called Mitchell International.
According to the report, insurance claim costs are usually higher for electric cars. "As it relates to average severity for repairable vehicles, EV costs continue to exceed those of ICE automobiles. For Q2 2023, severity costs were higher for EVs by $963 in the US and $1,328 in Canada," wrote the study.
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