Switching from a gas-powered vehicle to an electric vehicle won’t just increase your car insurance premium. It could also increase your risk of getting into an accident and filing a car insurance claim, a recent report indicates.

And that claim could be more severe and costly.

In 2024, drivers who replaced their internal combustion engine (ICE) vehicles with EVs were 14% more likely to file a claim, according to the latest data from LexisNexis. Those claims were 15% more severe and cost 31% more.

The risk management company’s data dovetails with a recent Insurify report that found EVs generally cost 49% more to insure than ICE vehicles. “Insurers base prices on risk, and insuring a car that’s more expensive to repair or replace adds to the company’s financial risk,” report autho

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