Electric power steering 1 saves a lot of manual effort, but it can quickly turn into a headache if there is some fault. You may be wondering how to fix electric power steering, then? Well, you are in luck. However, before we dive into fixing electric power steering, find out what caused it in the first place. The power steering hose is quite easy to replace. You can also do it yourself with a little effort. However, the part alone can cost you somewhere between $100 and $300. The cost rises further if you add in mechanic’s labor which is around $160.