The autonomous pricing coefficient for new energy vehicle insurance has undergone a new round of optimization and adjustment. The coefficient range has been expanded from the original [0.6-1.4] to [0.55-1.45]. This marks the second expansion of the coefficient since September 2025.
For vehicle owners, the widened coefficient allows those with excellent driving records and low-risk vehicles to receive more significant premium discounts, reinforcing positive incentives for safe driving. For the insurance industry, this further enhances insurers' autonomous pricing capabilities and precision, aiding in more equitable risk differentiation and improved underwriting profitability. This is a key measure in steadily advancing the market-oriented reform of auto insurance.
The auto insurance autonomous pricing coefficient is a floating range factor applied by insurers on top of the base premium, based on factors such as vehicle model risk, usage patterns, and driver behavior. Generally, better driving habits and lower claim frequencies result in a lower coefficient and correspondingly more favorable premiums.
In 2020, a comprehensive reform of auto insurance was implemented, merging the "autonomous channel coefficient" and "autonomous underwriting coefficient" into a single "autonomous pricing coefficient," initially set within a range of [0.65-1.35]. This meant insurers could adjust the base premium up by a maximum of 35% or down by 35%.
In 2023, the coefficient range for traditional fuel vehicles was expanded in one step from [0.65-1.35] to [0.5-1.5], but new energy vehicles were not adjusted simultaneously. A 2024 draft notice proposed aligning the new energy vehicle coefficient range with fuel vehicles at [0.5-1.5], but it was not formally implemented. The first adjustment for new energy vehicles came in September 2025, widening the range to [0.6-1.4]. After a six-month interval, the range has now been further expanded to [0.55-1.45]. Industry sources suggest the range for new energy vehicle insurance is expected to continue expanding towards parity with fuel vehicles.
The floating range of the autonomous pricing coefficient directly determines the pricing boundaries for insurers. A continuously expanding range signifies greater flexibility for insurers in pricing and implies that insurance costs for consumers will more accurately reflect their individual risk levels, thereby reducing cross-subsidization from low-risk to high-risk customers. Unlike the one-step expansion for fuel vehicles in 2023, the adjustment for new energy vehicles is being implemented gradually in phases to minimize market disruption.
Due to factors such as higher costs of parts, greater vehicle integration, a younger driver demographic, and relatively less experience, the new energy vehicle insurance sector faces significant pressure on the claims payout side. The industry generally operates at a loss, with only leading insurers potentially achieving underwriting profits on household vehicles. In theory, high赔付 should push pricing upwards to achieve full risk-based pricing. However, constraints from the pricing coefficient range have historically led to under-pricing, particularly for some high-risk new energy vehicle models. The latest adjustment, opening an additional 0.05 at both the upper and lower bounds, may help improve pricing adequacy and partially alleviate operational pressures on insurers for new energy vehicle policies.
For new energy vehicle owners, the key concern is whether future insurance premiums will increase or decrease and the potential extent of adjustment. Based on the formula "Commercial Auto Premium = Base Premium × No-Claim Discount (NCD) Coefficient × Autonomous Pricing Coefficient," the latest adjustment theoretically allows for a maximum premium decrease of 8.33% or a maximum increase of 3.57%. It is crucial to emphasize that this is a theoretical range, and not all owners will experience the extremes. The coefficient adjustment essentially raises the "ceiling" and lowers the "floor" for potential price changes. The actual premium is also influenced by other factors like traffic violation records and vehicle parts-to-cost ratio. The minor adjustment is expected to have limited impact on premiums for most new energy vehicles, with potential fluctuations mainly for individual high-risk vehicles.
To address the insurance challenges of high-risk new energy vehicles, the "Easy Auto Insurance" platform was launched in January 2025, providing effective insurance coverage and ensuring consumers can obtain insurance. The platform has operated stably since its establishment, effectively alleviating insurance difficulties for high-risk new energy vehicles. Data shows that by October 2025, 37 property insurance companies had joined the platform, facilitating insurance for over 1.1 million vehicles and providing risk coverage exceeding 1.1 trillion yuan.
China's new energy vehicle industry has experienced rapid development. By the end of 2025, the national fleet reached 43.97 million vehicles, accounting for 12.01% of all vehicles. Annual new registrations hit 12.93 million, representing 49.38% of new car registrations. Correspondingly, new energy vehicle insurance premiums are growing rapidly. It is projected that by 2030, premiums could approach 500 billion yuan, accounting for 38% of the total auto insurance market. However, the dilemma of "owners complaining about high costs, insurers complaining about losses" persists. Solving this fundamentally requires more than just adjusting the pricing coefficient.
A systematic, multi-party collaborative approach is necessary. Regulatory bodies should lead in establishing industry data-sharing platforms and vehicle model risk grading systems. Insurance companies should innovate products like "battery-electric vehicle separation" models and enhance technology-driven loss prevention services. Automakers should optimize vehicle safety and repairability and engage in data collaboration. Only through industrial collaboration to establish standards and integrate ecosystems can long-term balance between vehicle owners and insurers be achieved.
The new energy vehicle market features complex structures and diverse risk characteristics, necessitating more refined product design and pricing mechanisms. Suggestions include clarifying policy direction to advance insurance product development for emerging areas like autonomous driving, battery swapping, and "battery-electric vehicle separation," providing regulatory guidance and expectations. For pricing mechanisms, implementing risk-classified supervision is recommended, encouraging richer value-added services for lower-risk household vehicles and exploring usage-based dynamic pricing models. For higher-risk commercial vehicles, promoting risk pricing models linked to mileage, usage intensity, and battery health can achieve precise alignment between coverage and risk levels.
"Battery-electric vehicle separation" refers to separating the ownership and usage rights of the vehicle body and the battery. Consumers can lease the battery or use battery swap services, entrusting battery management and maintenance to specialized institutions while retaining ownership of the vehicle body and having usage rights to the battery. National guidelines issued in January 2025 proposed researching and exploring commercial auto insurance products based on the "battery-electric vehicle separation" model. At the local level, Shenzhen's action plan for 2026-2028 proposed exploring such products in specific scenarios like urban traffic. Guided by policy and insurer initiatives, exploration of "battery-electric vehicle separation" model insurance is accelerating. A recent example involved 10 new energy logistics trucks in Chongqing adopting this model, resulting in a 30-50% reduction in initial investment costs and approximately 30% lower insurance premiums compared to traditional procurement.
