I doubt it because the insurance will go up for all the cars EV or non EV because all of them have a lot of expensive electronics and fancy front lights and back lights and also the inflation.I think that the cost of insurance is going to really hurt Lucid's sales efforts... Lucid has been working hard to put together sales programs and promos, but when folks get these huge $$ insurance quotes it can blow things up. I believe that Tesla has some type of insurance tie-in option, and Lucid needs to seek something similar, I mentioned this to a Lucid rep at an event, and he said they are aware of this issue and are looking at downstream options
It is going up in a major way for all cars, especially in California, Florida and some other locations, but the huge prices for Lucid collision repairs will hit the insurance actuarial stats and underwriters will hit them harder $$ than other more common vehicles.. The mainstream cars have broader parts availability and can use almost any body shop... Not the same with Lucid parts and certified shops.
My insurance went up 65% with Safeco. It's painful. My husband destroyed a Lucid, so I did expect a big increase. But I was thinking more in the range of 40%. And if you're going to shop around for insurance, it's better to do it with a clean record. I can't find anything better for now. I'll have to join @Snafu, and start eating ramen a few times a week.
Polar
already eating won ton noodles and egg noodles for a loooooong time ! Is there a LUCID AIR Noodle Club ? also collecting plastic bottles and aluminum cans to pay for insurance too !
No accidents and no tickets for 65 years. As a retired Naval officer, I have everything via USAA....home, rental homes, umbrella, autos, investments, golf carts, etc. I do get a yearly Subscriber benefit plus a yearly dividend return so some of the pain gets alleviated. I am afraid that to maintain their service model, USAA has to continue to keep reserve funds up. Not a problem, just my local bitch for the end of 2023. Lucid still makes me feel happy and life is good, so I am enjoying it. Now, waiting for all that Lucid stock to really pop with the coming year.
Erie doesn't operate in California (or Washington State)--too bad because I have a good friend who owns an Erie agency.
They have been a pleasure to work with, I just had a $2,800.00 windshield repair that they promptly reimbursed me for.
I bet that's why their rates are better.
Heh. Not in Florida or Texas, either. Favorite states of plaintiffs lawyers ...
My hat is off to you.
My USAA rates have also just gone up dramatically. Looks like I will have to shop around.
After no accidents and no tickets for 65 years, they should be paying you a big rebate, not the other way around.
I think with a car like the Lucid, high deductibles make sense. There won’t be too many repairs where you don’t get into 5 figure #s. I take higher deductibles on both my Lucid & i4.
