Core Insights - The article discusses the challenges faced by the new energy vehicle (NEV) insurance market, highlighting issues such as high premiums, difficulty in obtaining insurance, and the opaque pricing mechanisms that frustrate consumers [1][2][3]. Pricing Mechanism - Consumers express confusion over the high insurance premiums relative to their vehicle prices, with some reporting significant increases in renewal costs despite no claims [2][3]. - The pricing logic for NEV insurance is described as a "black box," with multiple factors influencing premiums, including vehicle type, region, and usage [4][5]. Industry Challenges - The NEV insurance market is characterized by a "triangle dilemma" of high premiums, difficulty in obtaining insurance, and underwriting losses, primarily due to the unique repair and maintenance requirements of NEVs [3][5]. - The rapid evolution of NEVs leads to insufficient historical data for accurate risk assessment, resulting in premiums that do not adequately cover the higher risk costs associated with these vehicles [5][6]. Claims and Coverage Issues - The rise of ride-sharing and "part-time ride-sharing" has increased the risk profile of NEVs, complicating the classification of vehicles as private or commercial, which directly affects insurance premiums [6][7]. - Disputes often arise regarding the nature of vehicle use, with insurance companies denying claims based on the classification of vehicles as commercial when used for ride-sharing [6][7]. Market Dynamics - Despite the overall pressure on the industry, some companies have found profitable paths by focusing on private vehicle insurance and optimizing risk structures [8][9]. - The emergence of "car company" insurance firms, such as BYD Insurance, has shown profitability by leveraging vehicle operation data to create tailored insurance products [8][9]. Recommendations for Consumers - Consumers are advised to accurately disclose vehicle usage to avoid disputes and ensure effective coverage [9]. - It is recommended that consumers compare quotes from different insurers due to significant pricing discrepancies based on varying data models and risk assessments [9].

Core Insights - The rising insurance premiums for new energy vehicles (NEVs) are a common concern among owners, with average premiums significantly higher than those for traditional fuel vehicles [1][2] - The average insurance premium for NEVs in China reached 4,395 yuan in 2023, which is 63% higher than that of fuel vehicles, even when accounting for factors like vehicle age [1][2] Group 1: Reasons for High Premiums - The core factors influencing insurance premiums are the claims ratio, which is positively correlated with premiums, determined by average claim amounts and accident frequency [2] - The average claim amount for NEVs is higher due to rapid technological upgrades and integrated vehicle designs, leading to increased repair costs [2] - The accident frequency for NEVs is elevated due to their use in ride-hailing and freight services, where vehicles may not be insured according to their operational nature, thus increasing risk for insurers [2] Group 2: Solutions to the Premium Dilemma - Reducing the claims ratio is essential to address the high insurance costs for NEVs, with companies like PICC and China Taiping enhancing their pricing and claims management capabilities [3][4] - Regulatory bodies are actively working on policies to improve the insurance landscape for NEVs, including encouraging manufacturers to open repair networks and establish risk-sharing mechanisms [3][4] - Future initiatives include optimizing pricing models, developing new insurance products tailored for NEVs, and leveraging technology such as big data and blockchain to enhance risk assessment and pricing accuracy [5]