3 min read
Electric cars are becoming more popular as the trend towards environmentalism grows.
The UK Government also aims to ban the sale of new petrol and diesel vehicles by 2030 – a decade early than initially planned.
But what do you need to know about insuring electric cars?
Studies show that 23% of customers in Northern Ireland would strongly consider buying an electric car as their next purchase. The increasing popularity can contribute to reducing the cost of insuring electric cars.
Traditionally, electric cars have been more expensive to insure than petrol or diesel models because of the specialised nature of the repairs needed.
But insurers now have more knowledge on the cost of repairs and there are an increasing number of mechanics qualified to work on electric cars.
On top of that, electric cars are exempt from road tax and customers in Northern Ireland can charge their car for free at over 300 charging points across the country. These benefits can often offset higher insurance premiums.
It’s important to check that your policy contains everything you need to insure an electric car. The cheapest policy may not be the best.
On top of standard insurance features like breakdown cover or roadside assistance, you will also need battery cover when insuring electric cars.
This may be especially important if you lease your battery separately (more on that later). The battery is the key component of an electric car and can be very expensive to repair or replace.
You should also consider cover for your charging cables in case they get lost, stolen or damaged while you’re on the road.
And legal liability may be needed if, for example, you usually charge your car on a street where the cable could be a trip hazard.
Whatever your circumstances, it’s important to check with your insurance provider that you’re getting the level of cover you need when insuring electric cars.
Some manufacturers allow you to purchase the car but lease the battery as a monthly payment. They may require the battery to be insured.
It’s vital that you tell your insurer if you lease the battery because you both need to understand any stipulations from the manufacturer.
Some insurers offer perks for drivers insuring electric cars. This could be a discount on your premium or a donation to an environmental charity on your behalf.
These benefits might not be immediately apparent when you’re looking for quotes so it’s worth speaking to an insurance broker like AbbeyAutoline when buying.
Similar to policies for petrol and diesel cars, there are a number of ways to bring down your premium when insuring electric cars:
It’s important to shop around for the best deal when insuring electric cars. As your trusted local insurance broker, AbbeyAutoline can help you find specialised deals. Call us on 08000 66 55 44 or get a quote online today.
Thanks for your feedback!
As Managing Director of AbbeyAutoline, Julie Gibbons leads a team of 450 experienced staff members at Northern Ireland’s largest insurance brokers. Julie describes the people of AbbeyAutoline as the backbone of the business with the company placing a strong emphasis on diversity and inclusion.Living