Mitchell: EV claims rise in frequency in Q3 2024

Claims frequency for repairable collision-damaged battery electric vehicles (BEVs) rose to 3% in the U.S, a year-over-year increase of 47%, according to Mitchell’s Q3 2024 Plugged-In: EV Collision Insights report. The year-to-date average of completed collision repairs for BEVs is 19.5 days, which is three days longer and an 18% difference than the repair average for internal combustion engine (ICE) vehicles.

Mitchell’s insights reveal that BEVs are more likely to sustain rear-end impact in the event of a collision, while traditional ICE vehicles are more likely to sustain front-end damage. On average, front-end collisions are about 40% more expensive to repair. 

“There’s a direct correlation between the primary point of impact and claims severity,” said Ryan Mandell, Mitchell’s director of claims performance, in the news release. “Even though overall severity remains higher for BEVs than for ICE vehicles, understanding these point-of-impact dynamics can help auto insurers better assess risk, manage claims and assist policyholders.”

The average claims severity for repairable vehicles was $4,741 for ICE automobiles and $5,560 for BEVs. The average for plug-in hybrid vehicles (PHEV) was about $5,229 and $4,426 for mild hybrid electric vehicles (MHEVs).

The report also highlights the growing similarities in total loss averages and in total loss frequency between BEVs and ICE vehicles. The average total loss market value at $32,718 for BEVs and $31,070 for ICE autos, and both totaled at nearly 10% in total loss frequency.

In the U.S., Tesla dominated in the most models seen in BEV claims frequency. The Tesla Model 3 was highest at nearly 32%, followed by Tesla Model Y, Ford Mustang Mach-E, Tesla Model S and the Tesla Model X.