Electric vehicles (EVs) are relatively much more expensive to buy. And naturally, by costing more, some highly expensive electric cars now symbolize a privileged social position and status quo. But wait. Before you are charmed by the touch screen pads, Alexa voice devices, Spotify, and the luxurious seats of a Tesla, have you ever wondered why the insurance premium of EVs is higher than gasoline-powered cars? Read on to learn the bare truths.