Insurance price torments BYD owners, which leads the ranking of the most expensive policies

Two BYD models evaluated in the most recent Creditas Seguros survey once again had the most expensive car policies in the country. For May, the study points to the BYD Song Plus at the top of the ranking, with an average premium of R$ 5,044.03 for men and R$ 5,118.41 for women, followed by the BYD Dolphin Mini, with R$ 3,778.74 and R$ 3,408.47, respectively.

The work crosses quotations in the eleven capitals with the greatest weight in the automotive market, according to Fenabrave’s ranking, with the ten best-selling models in each period.

The survey considered the profiles of 33-year-old married men and women and adopted as a reference the lowest value quotation among the insurance companies surveyed, including Azul, Allianz, Bradesco, HDI, Itaú, Mapfre, Porto Seguro, Tokio Marine and Zurich.

The result has an explanation that goes beyond the brand: both models are electrified — the Song Plus plug-in hybrid and the 100% electric Dolphin Mini — and vehicles of this nature usually cost more to insure. Experts in the sector point out that the high price of batteries and spare parts, most of which are imported, added to the still scarce network of specialized workshops, increases the value at risk calculated by insurers and, consequently, the policy premium.

Insurance rose for both profiles in May

The increase in prices was not restricted to electric vehicles: on average in the capitals, the price of auto insurance rose for the two profiles analyzed: among men, it went from R$ 2,375.64 in April to R$ 2,771.61 in May, an increase of 16.67%; among women, it advanced from R$ 2,627.10 to R$ 2,692.38, an increase of 2.48%.

According to Marcelo Baseoti, manager of Creditas Seguros, May historically registers oscillations. “What we observe is a market response to several risk factors that intensify in certain regions. The accident rate, the increase in robberies and thefts and even the dynamics of sales of new vehicles contribute to this change in prices”, he says.

Song Plus shoots and Dolphin Mini retreats to them

The biggest changes in the month reinforce the irregular behavior of the market. This is because Song Plus insurance skyrocketed 66.69% for the male profile compared to April and 30.24% for the female profile. The Dolphin Mini, on the other hand, followed opposite paths according to gender: it was 17.39% more expensive for men, but 13.31% cheaper for women, in a sign that the generalized rise coexists with movements in the opposite direction. The Hyundai Creta Comfort Safety also rose strongly among men, with an advance of 26.78%. At the other extreme, the Hyundai HB20 Comfort 1.0 manual remained the most affordable option, with averages of R$ 1,796.89 for men and R$ 1,870.31 for women.

Rio de Janeiro remains the most expensive capital

In the geographic cut, Rio de Janeiro maintained the leadership among the capitals, with average policies of R$ 5,591.11 for men and R$ 4,456.31 for women, well above the other places. The city also concentrates the peaks by model: in the Dolphin Mini, for example, the average male prize reached R$ 10,065.11 in the capital of Rio de Janeiro. On the opposite side, Florianópolis recorded the lowest values in the country, with averages of R$ 2,184.90 for men and R$ 2,364.24 for women.