This is exactly how, as an industry, we shoot ourselves in the foot. Why does an electric vehicle warrant better pricing? Less costly to replace, no, better drivers, no. In fact UC Berkley did a study recently that rated Toyota Prius drivers as some of the worst, most agressive drivers on the street. Why you ask? Because they are considered “arrogant” and have a “sense of entitlement” since they believe they are saving the planet. So leave it to The Hartford to offer an unwarranted discount for the sake of volume. An absolute joke. Why don’t we try this, premium commensurate witht he exposure. What a novel idea. Maybe The Hartford should stay in the Life Insurance business after all.
One must wonder what the statistical basis is for a discount – perhaps it is because these veicles will spend excessive amounts of their life time in garages being charged, or on the side of the road because they ran out of battery power? On the other hand,
one should also look at the other side of the coin – that these cars will present hazards while on the side of the road, or while trying to accelerate fast enough, or drive fast enough, on our streets and highways so as to not cause accidents. A truly stupid move.
I couldn’t care less about how the discount was arrived at. But as long as it’s offered, it becomes a part of my toolkit for clients. Objectivity be darned.
Good start. Now offer discounts on CNG-powered vehicles and make me a happy broker. I have hundreds.
Why is this a “good start?.
This is exactly how, as an industry, we shoot ourselves in the foot. Why does an electric vehicle warrant better pricing? Less costly to replace, no, better drivers, no. In fact UC Berkley did a study recently that rated Toyota Prius drivers as some of the worst, most agressive drivers on the street. Why you ask? Because they are considered “arrogant” and have a “sense of entitlement” since they believe they are saving the planet. So leave it to The Hartford to offer an unwarranted discount for the sake of volume. An absolute joke. Why don’t we try this, premium commensurate witht he exposure. What a novel idea. Maybe The Hartford should stay in the Life Insurance business after all.
One must wonder what the statistical basis is for a discount – perhaps it is because these veicles will spend excessive amounts of their life time in garages being charged, or on the side of the road because they ran out of battery power? On the other hand,
one should also look at the other side of the coin – that these cars will present hazards while on the side of the road, or while trying to accelerate fast enough, or drive fast enough, on our streets and highways so as to not cause accidents. A truly stupid move.
I couldn’t care less about how the discount was arrived at. But as long as it’s offered, it becomes a part of my toolkit for clients. Objectivity be darned.
Please explain how an electric vehicle is a lower risk as compared to an internal combustion powered vehicle.