A Kia EV9 on a bidirectional charger on Jeju Island / Courtesy of Kia
When the owner of a Volkswagen ID.5 checked his insurance renewal quote, he had to do a double take. Despite another year of accident-free driving, his annual premium jumped from 430,000 won ($286) to 700,000 won.
“Has anyone else's insurance gone up this much?” wrote the driver, who is in his late 40s, in an online forum for electric vehicle (EV) owners.
Another forum user, who is waiting on a delivery of a newly ordered EV, said the insurance quote alone gave him second thoughts.
“I was told it would cost 300,000 to 400,000 won more than my gasoline car,” he wrote. “I guess I’ll have to make up for it through savings on charging and vehicle taxes.”
