×

COVID-19 Update: Please note that we are all working remotely and our hours remain unchanged at 8.30a- 5p CT. As always, taking care of our clients remains our top priority. Our phone number is 312-645-1200 and email remains the fastest way to reach us although all calls will be returned by the end of day should you leave a message because no one is available to answer. For more information and resources, see our Latest Insights.

Call Us 312.645.1200

Electric Cars: Is the BANG Worth the Buck?

August 9, 2021

North Park Tesla fire: Fire engulfs car in North Park

 

Gas-run, fossil-fuel burning cars are slowly going the way of the typewriter as automakers rush to hit deadlines to shift production to greener fuels. Electric vehicles are the future: fuel-efficient, quiet, reliable, and…explosive?

Electric cars like Tesla have a unique danger that gas-fueled vehicles don’t: while fires aren’t more likely in electric cars, the vehicle’s lithium battery makes fire much harder to put out. After industry-wide recalls, most electric cars now come with a handful of warnings: don’t leave them charging overnight, don’t charge them indoors etc., but as the number of electric vehicles on the road increases, so do the number of fires.

Click HERE to read the Washington Post’s look into the history of electric-car combustion, and speak to your broker about garage heat-sensors that can provide early warning for similar situations.