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Electricvehicles, given their higher acceleration rates, may be more accident-prone than their slower counterparts, according to new insurance data. This is particularly relevant as many newer electricvehicles boast zero-to-60 mph times that rival or exceed those of high-performance gasoline cars.
Only seven electricvehicles have received the Insurance Institute for Highway Safety's Top Safety Pick Plus award in 2025. When the Insurance Institute for Highway Safety (IIHS) published the first Top Safety Picks in 2025, it announced that these were tested against an updated rule set.
Canadians need more education around everything related to electricvehicles, a new report suggested. That includes more details about ownership, infrastructure and insurance.
Insurance claims, arguably the largest driver of revenue, were down which directly impacted collision topline. For instance, as vehicles become more complex, the cost of repairing crash parts with all the added sensors and technology might lead to higher total loss ratios as these cars depreciate.
Image source The buzz around electricvehicles (EVs) is undeniable. EVs run on electricity. ICE vehicles use gasoline. Electricity prices vary across the US. Insurance Implications Insurance premiums for EVs can be higher due to their higher purchase price, rapid tech development, and specialized repair needs.
The Insurance Institute for Highway Safety (IIHS) has released the preliminary list of vehicles tested according to the 2025 criteria. Only seven MY2025 electricvehicles got the coveted Top Safety Pick Plus award, and no Tesla model is among them. continue reading. )
Source Modern problems need forward-looking solutions; nowhere is that truer than in the present-day automotive scene, where, as we see more technological advancements make their way into modern vehicles, we also notice an adjacent major shift in car insurance. How is Technology Shaping Car Insurance?
and Canadian claims data on battery electricvehicles (BEVs), mild hybrid electricvehicles (MHEVs) and plug-in hybrid electricvehicles (PHEVs) — highlighting how differences in their complexity and construction are affecting claim costs and repair operations. and $5,302 in Canada, according to the report.
and Canadian claims data on battery electricvehicles (BEVs), mild hybrid electricvehicles (MHEVs) and plug-in hybrid electricvehicles (PHEVs) — highlighting how differences in their complexity and construction are affecting claim costs and repair operations. and $5,302 in Canada, according to the report.
Even electricvehicle owners who agreed to have their driving monitored are dealing with insurance premiums that seem to go only one way—up. Apparently, it's not just inflation that's driving these companies to ask for more money. Fret not; there's a way out of all this.
However, when the insurance company took over, the price doubled, and not even Hyundai could explain why. Repairing electricvehicles ( continue reading. ) The Hyundai dealership that evaluated the car asked a whopping $30,000 CAD ($22,400 USD) for a new battery.
Two of the growing factors impacting electricvehicles are charging them and securing affordable insurance, and three research projects shed more light on those elements of EV ownership and how consumers are adjusting. A separate report from LendingTree insurance site ValuePenguin.com might explain why.
Identify the range of services your business will offer, such as general repairs, diagnostics, or specialty services like electricvehicle maintenance, and consider how these services might expand in the future. Mitigate these risks with comprehensive insurance coverage developed for your operations.
Repairable battery electricvehicles (BEVs) tend to sustain more rear-end damage, are costlier to repair and take longer to get back on the road compared to internal combustion engine (ICE) vehicles, according to Mitchells Q3 2024 Plugged-In: EV Collision Insights report. In Q3, collision claims frequency jumped to 3.01
While there is positive growth in the number of electric and plug-in hybrid electricvehicle sales, the rate of that growth hasn’t climbed the way initially expected. While Canada seems to be going against the grain, much of the world is seeing a slowdown in EV sales growth. Canada has been an outlier. per cent (BEVs: 9.9
In 2024, Hertz decided to sell off many of its electricvehicles (EVs). They also expressed concerns about the lack of collision shops willing to repair EVs and the lengthy period the vehicles would be out of service. OEMs like Tesla and Rivian all have service information websites online for their all-electric lineups.
The mix of used-vehicle inventory at the time of the survey was good, according to both franchised and independent dealers. Mixed Views on ElectricVehicle Sales and Market Expectations Dealers’ views on electricvehicle (EV) sales improved in Q1 compared to the previous quarter and last year.
The Mechanic Doctor - Resources for Amateur and Pro Auto Mechanics In today’s fast-paced world, securing your vehicle goes beyond picking any insurance policy. However, many people in Canada say that the world of vehicleinsurance is vast, and choosing one can be overwhelming.
In addition, labor assurance and road hazard insurance programs are provided as part of the Federated Car Care program, as is a free roadside assistance program which has been expanded to 365 days and the reimbursement increased to $125. New training content is frequently added to the TheGroupTrainingAcademy.com website.
In addition, labor assurance and road hazard insurance programs are provided as part of the Federated Car Care program, as is a free roadside assistance program which has been expanded to 365 days and the reimbursement increased to $125. New training content is frequently added to the TheGroupTrainingAcademy.com website.
In 2024, Hertz decided to sell off many of its electricvehicles (EVs). They also expressed concerns about the lack of collision shops willing to repair EVs and the lengthy period the vehicles would be out of service. OEMs like Tesla and Rivian all have service information websites online for their all-electric lineups.
Dave emphasizes the need for dealers to prioritize customer satisfaction and maintain the integrity of the repair process, even when working with insurance companies. The interview also touches on the repair of electricvehicles (EVs), highlighting the need for specialized training and equipment.
“2023 was a record year for electricvehicles,” said Ryan Mandell, Mitchell’s director of claims performance. This issue provides a year-over-year analysis of EV claims volume, which increased in 2023 by more than 40% in the U.S. and Canada. also surpassed 1.2 million in new EV sales for the first time ever. .
Animals of all varieties can inflict serious punishment on your customers’ vehicles. Collisions with deer cost insurance companies more than $1 billion annually, the result of roughly 1.5 Even without the benefit of a shell, raccoons, woodchucks and other small mammals can wreak havoc on the underside of low-slung vehicles.
All-electricvehicles (EVs) have been the center of attention this last winter. If you didn't buy an EV but still want a new car that's affordable (tax included!)
(CCC) announced it has published its 2024 Crash Course Report, which indicates that increasing vehicle complexity, combined with rising labor costs and shortages, are placing persistent pressure on both insurers and repairers. Electricvehicle (EV) repairs: EVs are becoming more common in repair assessments.
Potential buyers should consider factors such as fuel efficiency, maintenance costs, insurance rates, warranty, after-sales support, and vehicle depreciation. Understanding the True Cost of Ownership for a Hyundai The true cost of owning a Hyundai extends beyond the initial purchase price.
After years of being overshadowed by emerging electricvehicles from Tesla and other brands, the hybrid — a gasoline vehicle that has both an internal combustion engine and an electric motor — is enjoying a resurgence in 2024. Or Are You Aligning Your Dealership Too Closely with EVs? EV sales have slowed in the U.S.
The automotive industry is experiencing a noticeable shift in consumer behavior and market dynamics, particularly in regard to finance and insurance (F&I) products. The rise of electricvehicles (EVs) and hybrid plug-in sales is another factor shaping the F&I landscape. With 17.3%
When the Bipartisan Infrastructure Bill passed in late 2021, it got a lot of attention for funding electricvehicle charging , high-speed rail , bridge maintenance and a lot of other basic infrastructure needs. What didn’t get much attention was a provision requiring the National Highway Traffic Safety Administration to… Read more.
a leading global manufacturer, owner, operator and provider of electricvehicle (EV) charging equipment and services, has announced in a press release a strategic agreement with EVSTAR to introduce extended warranty coverage options for Blink customers. Blink Charging Co. ,
In his keynote address, Gilchrist noted the unprecedented focus of government energy and resources on a rapid transition to electricvehicles. Franchised new-car dealers have already invested billions in electric inventory and infrastructure, but consumer demand lags. “We
Autonomous vehicles offer a chance to reduce these emissions through more efficient driving practices, such as eco-driving and platooning. These vehicles can optimize speed and acceleration, lowering fuel consumption. When combined with electricvehicle technology, the potential reductions in emissions are even greater.
In addition to a line-up of insightful thought leaders, there will be networking opportunities, a vehicle gifting ceremony by the National Auto Body Council® (NABC) as part of its NABC Recycled Rides® program, CIECA’s open annual meeting and a tour of electricvehicle company Rivian’s manufacturing facility.
As new vehicles arrive on the market and in service lanes, labor time guides update to reflect servicing the latest technology. For example, an electricvehicle (EV) doesn’t require the same service intervals as a gas-engine car. Processes often included diagnosis, replacement, and testing to complete the repair loop.
The Insurance Institute for Highway Safety (IIHS) just released new crash test results for three full-size, three-row SUVs — the Ford Expedition, Chevrolet Tahoe, and Jeep Wagoneer — and these family haulers had varied crash test performances. Full-size SUVs are popular choices due to their size and the perceived… Read more.
There is little disagreement that for the electricvehicle market to grow in the U.S., Troutman Pepper said contracts and insurance coverage are essential to manage those risks effectively. there is a need for more EV charging infrastructure.
Being in a family independent shop, you are responsible for every aspect of the business from marketing to HR to operations, sales, even hiring, firing, negotiating insurance policies just everything you can think of. Transitioning Into Corporate Structure The transition has benefited Fox, though there were learning curves.
Even after you learn what your monthly payment will be , you’ll have more expenses to consider, like insurance, gasoline, and maintenance. When it comes to buying a new car , agreeing on a price you’re happy with is really only the first step. Odds are, you could run the numbers yourself and come up with a pretty good… Read more.
In 2024, Hertz decided to sell off many of its electricvehicles (EVs). They also expressed concerns about the lack of collision shops willing to repair EVs and the lengthy period the vehicles would be out of service. OEMs like Tesla and Rivian all have service information websites online for their all-electric lineups.
In 2024, Hertz decided to sell off many of its electricvehicles (EVs). They also expressed concerns about the lack of collision shops willing to repair EVs and the lengthy period the vehicles would be out of service. OEMs like Tesla and Rivian all have service information websites online for their all-electric lineups.
As we reflect on the 2024 automotive landscape, its clear that dealerships faced a year of significant challenges and transformations, particularly in finance and insurance (F&I). New vehicles, with their advanced technologies and longer warranties, call for a different set of F&I products compared to used vehicles.
For as long as there have been electricvehicles, their critics have disingenuously argued that it’s impossible for EVs to ever take hold in the U.S. until the working class can afford to drive them. Despite that not having been a prerequisite for the proliferation of pricey trucks and SUVs, it’s been a pervasive… Read more.
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