How do you insure your electric car?
Is insurance compulsory?
Like vehicles powered by internal combustion, electric cars must be covered by an insurance policy in order to be able to drive them on public roads. Although car insurance policies for electric cars offer almost the same guarantees as conventional policies, they include additional options to allow eco-drivers to drive with peace of mind.
What are the different car insurance policies for electric cars?
1 -Third-party insurance
This automatically includes third-party liability cover, without which it is forbidden to drive on public roads. This is the minimum insurance that only covers damage caused to a third party when the policyholder is responsible. This type of insurance can be supplemented with various options, such as coverage against theft or fire. It is generally recommended for second-hand vehicles with high mileage.
2 -Comprehensive insurance
This offers comprehensive protection: it covers material damage caused by a third party and damage caused by the policyholder. In the event of damage, it covers the replacement of parts and repairs, which can be expensive for electric vehicles. Similarly, most comprehensive insurance contracts include reimbursement for the battery leased from the manufacturer if it has been damaged.
3 -Insurance per mile
More and more insurers are offering per-mile policies. This may be third-party or comprehensive insurance, where the premium is calculated according to the number of miles driven. Therefore, per-mile insurance is particularly attractive to drivers who do not use their car very much or who only make short journeys.
Which additional cover is available for electric cars?
There are a number of options specifically for electric vehicles, including cover for any claims relating to the charging of the vehicle. It is also possible to opt for recovery to the nearest charge point if you run out of charge in the UK. There might also be emergency cover, travel and breakdown cover, as well as other bonus features, such as guarantees on repairs.
Does car insurance cover home charging?
Some special electric car insurance policies cover charging cables, wall boxes and adaptors in case of accidental damage, fire or theft.
How much does it cost to insure an electric car?
Despite the additional guarantees linked to the battery and charging, insurance for an electric car is often more expensive than for a combustion vehicle. This price difference is linked to a higher purchase price and because less data is available on them compared to their petrol and diesel counterparts. Hybrids and electric cars are considered more likely to be involved in pedestrian accidents than conventional vehicles. This is due to their near-silent sound at low speeds, which occurs when only the battery is in use. Electric cars also tend to have quicker acceleration from a standstill than petrol or diesel cars, which is considered to make accidents more likely.
New technology for collision avoidance means that this is becoming less of a concern for insurers, so it is expected that insurance costs for electric cars will get cheaper in the future. Shop around, as it is important to choose the right policy to benefit from specific guarantees for this environmentally friendly mode of transport.
