Insurers could replace written-off/stolen petrol cars with EV

[HangTime]

https://www.bbc.co.uk/news/business-57834049

Not sure how this would work, my understanding is insurers need to put people back in the position they were in prior to the incident, and some people might feel that being given an EV doesn't do that. Write off your V8 Mustang and get given a Tesla Model 3 or whatever? Some people might not want an EV yet for whatever reason, whether that be driving experience, lack of home changing potential, range anxiety etc. I guess they would have to incentivise this in some way (perhaps with government subsidy), i.e. a £20k car is stolen not recovered and they offer you an EV worth £25k to replace it or whatever.

Ultimately with the sale of new petrol cars being banned from 2030 I suppose there will be natural attrition eventually as the stock of petrol cars on the road will gradually dwindle over time. But I expect in the late 20s there will be quite a demand for petrol cars because people will want to get the 'last in breed' with it likely to hold value for longer as no newer cars of that type will be released. I mean if you got a decent 79 plate petrol car you are probably going to want to hand on to it for a bit because it will be very attractive to people in future who still want a petrol car.

 

[Rroff]

Sounds like an example of so called blue sky thinking.

"I'm sorry your pickup got written off, here have a Renault Zoe"

Sadly there are people that stupid they see no problem with that thinking.

I'm assuming in reality it might be a bit more regulated as something they push on a more like for like basis but you don't have to accept it.

 

[Siliconslave]

the boiler example makes a load of sense but the reality of replacing a old of new car with a totally different model seems crazy (and the cynic in me would say news grabbing 'green' signaling)

 

[HangTime]

I'm assuming in reality it might be a bit more regulated as something they push on a more like for like basis but you don't have to accept it.

I think they'll have to offer an incentive which in turn the insurers will want funding for. Similar things have been done before, what with scrappage schemes, grants for new EVs etc. In some ways it makes sense because people with a written off / stolen car need a replacement car so at that point you want to channel them towards the green option, and a financial incentive is a good way to push people in your preferred direction. This is different from the traditional schemes where they have tried to entice people into swapping their old but presumably working car for something greener, in that they have an 'active customer' rather than a 'passive customer'

 

[JRS]

I think they'll have to offer an incentive which in turn the insurers will want funding for. Similar things have been done before, what with scrappage schemes, grants for new EVs etc. In some ways it makes sense because people with a written off / stolen car need a replacement car so at that point you want to channel them towards the green option, and a financial incentive is a good way to push people in your preferred direction.

And then insurance premiums skyrocket to pay for it all...

 

[Haggisman]

the boiler example makes a load of sense but the reality of replacing a old of new car with a totally different model seems crazy (and the cynic in me would say news grabbing 'green' signaling)

I see it the opposite way - you can't just replace a gas boiler with an alternative without taking into account the full system. E.g. a heat pump is going to be useless in an old house with poor insulation and radiators which aren't suited to it - are they going to pay £10k+ to replace your £2k gas boiler with heatpump, new windows/doors, loft + cavity wall insulation and fit underfloor heating?

Meanwhile, with a car, I don't see an issue with a couple of caveats:

Other than the drivetrain it is a "like for like" alternative (e.g. the example given above, a Zoe would not be a reasonable alternative to a pickup, but then neither would a Fiesta, nothing to do with being an EV).
Installation of charge point is also included
You are able to "opt out" if you can give a reasonable justification as to why it wouldn't be suitable, e.g. you do 3-400 miles/day, or you live in a block of flats with no possibility of charging at home and there are no public chargers nearby

 

[lordrobs]

But I expect in the late 20s there will be quite a demand for petrol cars because people will want to get the 'last in breed' with it likely to hold value for longer as no newer cars of that type will be released. I mean if you got a decent 79 plate petrol car you are probably going to want to hand on to it for a bit because it will be very attractive to people in future who still want a petrol car.

I can't see this at all TBH. By that point we'll have been conditioned to see ICE as old hat technology. Yes, people may still want to scratch that ICE itch but would you rather do that with a characterful classic / modern classic or an emissions and noise regulation hobbled ICE from 2029? By that point the last of the 'sporty' ICE models will probably come out packing a 1L 3-cylinder under the bonnet and have 1/3 of the power of their EV equivalents.

It will be a good sales pitch for the insurance companies because by that point most people will be wanting to go EV and only cost will be holding them back. Do you really want that 7 year old Petrol focus repairing or would you rather have £#k against an EV? It wouldn't really be a tough call.

There will be the die hard people spouting comments like "I will never drive an electric appliance" although, lets face it, most of those people are just making noise and are probably the same type of people that pointed and laughed at the 'idiots' buying LCD TVs because CRT is much better.

 

[Nasher]

They better ******* not do, or I'd expect a ton of compensation. Both of my petrol cars are going up in value at the moment, no EV is a replacement. I would rather take the cash.

They would also need to cover the cost of installing charging points.

 

[Bear]

Sounds like an example of so called blue sky thinking.

"I'm sorry your pickup got written off, here have a Renault Zoe"

Aiming for the stars arent you, more like your pickup got written off, heres an e cargo bike

 

[neilw]

Probably a bit off topic, but would it take less damage for an EV written off that a ICE car? For example a low speed rear end shunt, could cause issues with the battery packs?

 

[gc123]

personally i doubt anything this goverment puts forward will come to fruition , want to bet come 2027 if conservatives are still there they dont just delay it for another 10 years. evs are too expensive and the infrastructure isnt there. the country isnt putting enough money into producing infrastructure , and what about all the voters who suddenly find themselves adversally effected but the transition ...cant see any party forcing the issue.

 

[BUDFORCE]

I can't see this at all TBH. By that point we'll have been conditioned to see ICE as old hat technology. Yes, people may still want to scratch that ICE itch but would you rather do that with a characterful classic / modern classic or an emissions and noise regulation hobbled ICE from 2029? By that point the last of the 'sporty' ICE models will probably come out packing a 1L 3-cylinder under the bonnet and have 1/3 of the power of their EV equivalents.

It will be a good sales pitch for the insurance companies because by that point most people will be wanting to go EV and only cost will be holding them back. Do you really want that 7 year old Petrol focus repairing or would you rather have £#k against an EV? It wouldn't really be a tough call.

There will be the die hard people spouting comments like "I will never drive an electric appliance" although, lets face it, most of those people are just making noise and are probably the same type of people that pointed and laughed at the 'idiots' buying LCD TVs because CRT is much better.

I do not agree.

We will see 2030 if that is the date is optimistic, that's only 8 and a bit years away. EVs will need to come a long way before then for me to consider one. I'm not anti EV in the slightest the moment they become as affordable as a petrol I'll happily switch, but they are far from at the moment.

Not to mention how they are going to arrange mass charging in built up areas.

Can see lots of people jumping on late petrol cars and keep them going for years.

I probably will.

 

[adam cool dude]

It has taken 5 years just to get Brexit over the line.

Fibre to the house is still years away for most folk, HS2 is basically a meme now and we expect the government to put the infrastructure in place for EV charging in 8 years time whilst still trying to deal with Brexit, HS2 etc.

 

[Nasher]

It has taken 5 years just to get Brexit over the line.

Fibre to the house is still years away for most folk, HS2 is basically a meme now and we expect the government to put the infrastructure in place for EV charging in 8 years time whilst still trying to deal with Brexit, HS2 etc.

Over 20 years on and some places barely have broadband lines lol. MANY places still have no mobile phone signal (often the same places). Or one so weak you can't use it for data.

A few million charging points, plus the infrastructure to actually support them in 8 years? No chance. The public ones are internet linked for a start, so stumped by the on-going first issue!

 

[HangTime]

And then insurance premiums skyrocket to pay for it all...

That's why I'm saying they will want government funding for it.

I can't see this at all TBH. By that point we'll have been conditioned to see ICE as old hat technology. Yes, people may still want to scratch that ICE itch but would you rather do that with a characterful classic / modern classic or an emissions and noise regulation hobbled ICE from 2029? By that point the last of the 'sporty' ICE models will probably come out packing a 1L 3-cylinder under the bonnet and have 1/3 of the power of their EV equivalents.

You might be right, but I think it depends on legislation as to whether we'll continue to get acceptable petrol cars (and equally whether people want them, for example tax might get exorbitant) Manufacturers might choose to sell a good ICE car in the late 20s precisely because they know that's what people will want from ICE, although I have some reservations about how much they will invest in the supply chain etc for parts etc.
To answer the question about wanting a classic / modern classic the point I'm making is that eventually that 2029 petrol car could be a modern classic itself because over time more and more older cars will be rendered unroadworthy. Even if people want an E46 M3 (or whatever) instead, there might not be many left in 2040. Those 79 plates might be classics simply because you can't get anything newer. The competition for petrol cars will get smaller and smaller with each year that passes.

 

[Nasher]

I think prices of some of the current best petrol cars will rocket later this decade. Cars released near 2030 are likely going to be terrible. Regulations will be so strict they won't be able to make anything worth buying.

It's not just for the engines though, EVs are super heavy and filled with a lot of crap, with even more crap on the way. The driving experience is numb. You will have to buy old to have a proper and enjoyable drive. Maybe convert it to electric after 2030 sometime and I suspect that is where petrolheads will end up (resto-modding).

 

[Malevolence]

Sorry to hear your 300ZX TT has been stolen, but here's a Nissan Leaf to replace it. Yeah, **** off!

 

[BUDFORCE]

It's not just for the engines though, EVs are super heavy and filled with a lot of crap, with even more crap on the way.

Yea tell me about it. I see adverts on TV boasting about how much "technology" they have in their new electric cars.

I dont want "technology" it's all useless **** that just goes wrong and make things harder to fix.

Speaking of which, I wonder when we will start getting a spate of modern DIYers zapping themselves with high voltage DC.

I reckon you could pretty easily kill yourself with the current coming off those.

So watch... It'll become illegal or you'll need some special certificate to fix them. And guess what, your main dealer ******** artist will have that. I mean they already are doing it with the software you need these days.

You need a "software update" that'll be £600 please.

**** that.

I'll keep my petrol car going for as long as I can.

 

[Conscript]

Always find it weird when people dismiss EVs based on the supposed maintenance fears.

Think of all the common maintenance issues that will become a thing of the past. No more oil and filter changes. No more blocked DPFs or EGR valves. No headgaskets. No dual mass flywheel to worry about. No clutch replacements. No cambelt worries. No turbo failures. No exhaust to go rusty.

Granted an EV power train might be harder for the amateur to fix, but seems to me there's also a lot less to go wrong.

 

[Nasher]

It will just be a load of new common problems.

It's like someone building a massively complex server setup with a load of robotics and then claiming it will never go wrong. It will, you just haven't waited long enough. When it goes go the whole thing will go mental because it'll probably be some big single point of failure controller unit somewhere lol...