New energy vehicle insurance premiums are high, a common problem for car owners and insurance companies

As new energy vehicles account for a larger share of the domestic passenger car market, auto insurance issues are becoming increasingly prominent. According to data from the State Administration of Financial Supervision and Administration, the average premium for new energy vehicles in 2023 will reach 4,395 yuan, 63% higher than that of fuel vehicles, and the insurance industry will suffer underwriting losses of up to 6.7 billion yuan. Rising premiums and difficulties in obtaining insurance have troubled both car owners and insurance companies.