The continents of Europe and Asia are leading the way in the shift towards electric vehicles, largely due to supportive government policies and financial incentives, in addition to stricter environmental laws.
Despite the increasing proliferation of self-driving cars, Tesla’s robotaxis are more prone to accidents compared to those of Waymo, even with human supervisors.
The report stated that countries such as Denmark, the Netherlands, Sweden, and Britain intend to ban the sale of gasoline and diesel cars by 2030. In Norway, electric car sales accounted for 93% of total new car sales in 2023, and the country is looking to ban the sale of gasoline and gas-powered cars by the end of 2025.
Studies conducted in Norway revealed that accidents involving electric cars were 17% less compared to gasoline-powered cars between 2020 and 2023. However, data issued by the Norwegian Public Roads Administration indicated an 8% increase in the severity of accidents involving electric cars, leading to a higher value of claims related to material damage compared to serious bodily injuries.
Despite the similarity in total claim costs between electric and gasoline-powered cars, the shift from bodily injury claims to material damage will benefit insurance companies, necessitating a comprehensive review of their insurance portfolios.
In addition to personal cars, improving public transportation and converting it to electric vehicles is a crucial step in reducing carbon emissions in cities.
