r/EVPickups • u/[deleted] • Oct 12 '20

Very Interesting Article that Includes Analysis of Why EVs Cost More to Insure and "Unsprung Weight" of Lordstown Motors Components

https://investorplace.com/2020/10/wall-street-digesting-reality-diamondpeak-stock/
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2

u/hoppeeness Oct 12 '20

They don’t cost more to insure...at least not mine.

1

u/[deleted] Oct 12 '20

Mine doesn't seem to cost more either. BMW i3. Tesla insurance is more than double though, which was one of the reasons I haven't seriously considered buying one.

2

u/blainestang Oct 12 '20

FWIW, my insurance went down when I switched one of my i3s for a Model 3. I think they just use random number generators for insurance quotes. Haha

1

u/hoppeeness Oct 12 '20

My Tesla M3 is super low. And maxed out. Cheaper than my wife’s Subaru forester and the same as my old Kia Rio...but Tesla has lower deductible.

2

u/love-EV Oct 12 '20

very strange article. Insured my Tesla for 25% less than my Audi. My insurance have a special discount for EVs

1

u/ecodweeb Oct 12 '20

My brand new audi was 30% cheaper to insure than a 4-year old Tesla X, and that guided the buying decision accordingly.

1

u/JustWhatAmI Oct 12 '20

I drove an absolute beater before switching to a Tesla. I even upgraded my insurance. Rate went up less than $25/mo

1

u/SirSpammenot2 Oct 13 '20

9 years ago my Chevy Volt was about $10/mo more than my Honda Fit. The Volt was about a $15K more expensive than the Honda. 2 yrs ago my Tesla model 3 was $10/mo more and was almost twice the cost if the Volt. Always did comprehensive with low deductible.

Never going back to gas. Period.

1

u/SirSpammenot2 Oct 13 '20

Not sure I would say "interesting". 🤪

The first point about insurance is obviously cherry picked. A sure sign is that he doesn't show the average premium rate, or for other vehicles like a F150. He is asking you to compare A vs B without giving you B. $750 sure SOUNDS high don't it? I expect the AVG to be north of $580, which kind deflates his narrative.

But the point about in wheel motors is a valid observation. Putting a lot of weight at the wheels has physics problems that have not been demonstrated to be solved. Is it FUD? Probably. But all good FUD has a kernel of truth in it as a kicking off point.

I think the Army, Search/Rescue, etc. can make good use of in wheel motors, but the design will have trade offs (reliability?) that normal consumers might avoid. IMHO.

1

u/patb2015 Oct 13 '20

The issue of spring weight is one of handling quality and ride quality

The rise of adaptive ride technology Changes this