The electric and hybrid vehicle insurance market recorded near-double-digit growth in the first half of 2026. However, the main challenge for insurers is the accelerated growth in claims: almost threefold y-o-y, caused by complexity and high cost of repairs, according to the Belarusian Association of Insurers.

The number of electric vehicles and hybrids insured by individuals increased 2.4 times in the first half of 2026, while that of businesses increased 1.5 times. The total number of electric vehicles insured in the first half of the year was 16,013 units. At the same time, total paid claims in the electric vehicle sector increased 2.6 times for individuals and 2.2 times for legal entities.

Due to competition, the cost of Motor Hull for electric vehicles remains relatively low. However, it's worth noting that the frequency of claims has increased. While last year, on average, three out of ten policies sold reported losses, this figure has risen to four losses out of ten in the first half of the year.

Overall, the first half of 2026 proved that electric vehicles are one of the fastest-growing drivers of motor insurance. However, the segment requires a fundamentally different approach to risk assessment. Otherwise, loss pressure will continue to dictate the market's need for a fair adjustment in rates, leading to significant increases.