Tag: electric vehicles

Are Lithium-Ion Batteries Putting Homes at Risk During Natural Disasters?

Marc
Lithium-Ion Batteries in Natural Disasters

Understanding the Risks: Lithium-Ion Batteries in Natural Disasters Lithium-ion batteries have become indispensable to modern life, powering everything from smartphones and laptops to electric vehicles (EVs) and large-scale energy storage systems. The global demand for them is projected to grow by an estimated 30% annually until 2030. However, as their presence becomes more pervasive, so do the risks they pose in the context of natural disasters. Natural disasters such as hurricanes, floods, and wildfires can severely compromise the safety of lithium-ion batteries. When exposed to conditions like saltwater submersion or…

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Crashes, Claims, and Calm Driving—Lessons from Tesla and Cadillac Owners

Nordstrom
Driving patterns

Tesla Drivers See Spike in Incidents New data from Lending Tree paired with other research sources provides a deeper look into Tesla drivers and their driving patterns. The findings raise pressing questions about driver behavior, advanced vehicle technology, and their collective impact on road safety. Lending Tree’s analysis shows that Tesla owners reported an average of 37 incidents—accidents, speeding tickets, DUIs, and more—per 1,000 drivers in 2024. That’s a rise from 31 in 2023, suggesting that factors like increased Tesla ownership, overconfidence in vehicle technology, or regional driving dynamics might…

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State Farm and Allstate Chart New Paths in Workplace Policies

Marc
State Farm and Allstate Workplace Policies

State Farm Ends EV Charging in Parking Garages State Farm employees who drive electric vehicles (EVs) are facing new challenges after the company decided to remove EV charging stations from its parking garages. The shift began on October 28 at its Illinois headquarters and will expand to all locations nationwide due to fire safety concerns. A company message shared with employees described the decision as a precautionary measure aimed at maintaining a safe environment. After assessments by local fire departments and workplace safety teams, risks associated with EV-related fires in…

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Tesla Insurance Hires Former Member of GEICO Management to Bridge the Gap

Nordstrom
Tesla Insurance - Tesla Logo

Tesla, renowned for revolutionizing the automotive industry with its electric vehicles, ventured into uncharted territory back in 2019, where CEO, Elon Musk promised customers “vastly better” service compared to the competition. With the recent hire of Allen Laben, a seasoned executive from GEICO, Tesla aims to tackle the high insurance costs that have burdened its vehicle owners. But can a carmaker successfully navigate the complexities of the insurance industry, and what does this mean for consumers? The Challenge of Transitioning Industries Diving into the insurance sector represents a significant shift…

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Can Insurance Companies Help Fight Global Warming with Incentives?

Logan B.
Insurance Companies - Global Warming Incentives

In an era when climate change poses significant risks, the role of insurance companies is becoming increasingly dynamic. With natural disasters on the rise, leading to soaring claims and heightened premiums, there is burgeoning interest in incentives that promote environmental sustainability. Notably, some insurance providers are strategically mitigating risk while advocating for greener choices by offering discounts and incentives that encourage consumers to adopt eco-friendly practices. Innovative Incentives by Insurance Companies for Environmental Sustainability Mercury Insurance stands at the forefront of promoting environmental responsibility, offering a Green Home discount up…

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How EV Insurance is Transforming the Insurance Market Landscape

Loreen
evs high tech vehicles insurance costs

The automotive landscape is embarking on a transformative journey with electric vehicles (EVs) and high-tech cars steering the course. This electrifying shift is not only redefining transportation but also reshaping the dynamics of auto insurance. As EVs and vehicles laden with cutting-edge technologies become more prevalent, their impact on insurance costs has emerged as a critical issue for drivers and insurers alike. The fusion of sophisticated electrical systems, driver-assist technology, and complex vehicle software has ushered in a new era of challenges in risk assessment and repair costs. Understanding these…

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Electric vehicle owners should check their homeowners insurance policy before charging

Marc
Homeowners insurance - EV car charging

While it’s convenient to charge a car at home, it’s important to understand coverage. Electric vehicles are becoming increasingly popular, but homeowners insurance may not cover everything involved in ensuring that they can be safely recharged at home. There are almost 20 unique electric vehicle models currently available in the United States. By the end of 2024, there are almost 100 electric vehicle models expected to be available for sale in the United States. Though they currently represent only 2 percent of new vehicle sales, one of the top selling…

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