Insuring EV risks

The latest report from the Insurance Council of Australia (ICA), titled Charging Ahead: Electric Vehicles & Insurance, emphasises a crucial ten-year period for the insurance industry to support the transition to electric vehicles (EVs).

The report delves into key issues, including battery fires, safety regulations, and challenges faced by insurers in covering EVs. It also addresses the higher insurance costs for EV owners compared to those with petrol or diesel vehicles, a gap the industry is aiming to reduce.