Electric cars are insured much like petrol or diesel cars, but a few differences affect cover and price. The battery is the most valuable component and needs to be covered, whether owned or leased; repairs can cost more and need specialist-trained technicians; and cover for the charging cable, home charge point and accidental damage from charging is worth checking. Otherwise the same principles apply: the right level of cover, the correct class of use, and an accurate value.
As electric vehicles have become mainstream, insuring them has become routine, but the drivetrain and the way they are charged, and sometimes financed, introduce points that a petrol-car policy does not have to think about.
How is electric car insurance different?
The core cover, third party, third party fire and theft, or comprehensive, is the same. The differences sit around the electric drivetrain: the battery’s value, the cost and specialist nature of repairs, and the equipment used to charge the car. A good electric car policy makes sure the battery and charging equipment are covered and that repairs can be carried out to the manufacturer’s standard.
Is the battery covered, even if it is leased?
It should be. On some electric cars the battery is leased separately from the car, and you need to check the policy covers it against damage even though you do not own it. Where the battery is owned, it is simply part of the car, but because it is the single most expensive component, confirming it is covered matters more than on a conventional car.
What about the charging cable and home charge point?
Look for cover that includes the charging cables, a home wall box or charge point, and liability if someone trips over a cable while the car is charging. These are exposures unique to electric cars, and not every policy includes them as standard, so they are worth checking or adding.
Does an electric car cost more to insure?
It can, because the value is often higher and repairs can be more expensive and require specialist-trained technicians and equipment, but the gap has narrowed as electric cars have become common and more workshops can repair them. As with any car, the insurance group, your circumstances and the level of cover drive the price.
Getting the cover right
Insuring an electric car well is about making sure the battery, charging equipment and repair standards are properly covered, on top of the usual choices. A broker can make sure nothing specific to an electric car is missed. To review your motor cover, get a quote or speak to the team.