Insights on Consumer Financial Challenges and EV Range Impact for Insurance Pros

The article provides an overview of various consumer financial and lifestyle challenges, including borrowing costs, housing affordability, and the impact of cold weather on electric vehicle (EV) battery performance. It highlights that personal loans are currently considered a safe and cost-effective borrowing choice for holiday expenses. Additionally, the report discusses significant rental affordability issues for retail workers in cities like New York City and Cleveland, as well as a trend where more individuals use crowdfunding platforms like GoFundMe for basic needs like housing and food. From an automotive insurance and risk perspective, the article notes that cold temperatures can reduce EV range by up to 30%, recommending battery preconditioning and careful heater use as mitigating strategies.