""It is not just as simple or reductive as, gas prices are high, that must mean EVs are the right choice for me right now," says David Undercoffler."
""Insurance on new EVs is quite a bit higher," says Undercoffler. How much higher? According to a report from insurance-comparison site Insurify published last August, American drivers pay 49% more on average to insure."
Gas prices in the U.S. have increased by 33% in the past month, with significant hikes in states like Florida, Arizona, and New Mexico. This surge is linked to the ongoing conflict in Iran, leading consumers to consider electric vehicles (EVs) as a cost-saving alternative. EVs offer benefits such as immunity to gas price fluctuations and lower maintenance costs. However, potential buyers should be aware that insurance costs for new EVs can be significantly higher, complicating the decision to switch from gas-powered vehicles.
Read at InsideHook
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