Are electric cars cheaper to insure?
When that insurance renewal quote lands on the doormat, or in our inbox, we’re used to seeing it change with our circumstances – whether we’ve added a driver, bagged another year of no claims, bought a new car, or even switched to electric.
What does electric car insurance cover?
Insurance for electric vehicles (EV) typically covers the same basics as insurance for traditional cars, while also protecting some extra pieces unique to EVs.
So, you can expect cover for damage to other people’s vehicles and property, and depending on the option you choose, cover for accidental damage to your vehicle as well. But with EV insurance, you’re also likely to get protection for accessories like batteries and charging cables.
Our electric car insurance puts you in the driving seat, with a choice of Third Party, Fire and Theft or Comprehensive cover, and a range of optional extras.
How much does electric car insurance cost?
As with any vehicle cover, the cost of electric car insurance really depends on details like your age and driving history, and the type of car you drive.
We go into some of things that could help reduce your electric car insurance premiums, or monthly payments, below.
Drive down your premiums
We asked our underwriters what factors could help you bring down the cost of insuring an electric vehicle. They told us, as with petrol or diesel vehicles, reduced mileage and those precious no claims bonuses can really help lower what you pay for cover. Vehicles that have crash prevention and security systems can also save you money on your premiums – meaning a safer, more secure car could be good for you, your wallet, and the planet.
Where you keep your car could also make a difference to your quote. If you have a garage or driveway, your car is likely to be safer overnight – potentially lowering your premium.
New and young drivers already face higher cover costs in general. But if you’re worried that adding an electric vehicle premium could push them into unaffordable, you’ll be glad to hear there some simple things you can do to keep costs down.
In some circumstances, a telematics device – or little black box – can be fitted, letting insurers get a real picture of how you drive, allowing them to potentially reward safe and skilful driving with lower premiums. Electric cars are also likely to be filled with the latest cutting-edge safety tech, which can help reduce the risk of an accident, helping you pay less.
Be sure about your insurer
While it might surprise you how affordable the insurance for an electric car could be, remember that making sure you have the coverage you need, from an insurer you trust, should still be the most important factor when choosing your policy.
Get a quick quote and see for yourself what it’d cost you to insure your electric car with us.