Is it possible to find affordable car insurance for an electric or hybrid vehicle?
Well, we will give you a few tips for properly insuring your electric vehicle by taking out the right warranties.
Why buy an electric car – Reasons
Electric cars are becoming increasingly popular for a number of reasons.
Oil is volatile and episodes of supply panic with long queues around petrol stations are recurrent.
Driving a car and avoiding all the stress of gas supplies is becoming more and more desirable.
But beyond that, sensitivity to ecology may affect drivers’ choice of automobile.
With electric or hybrid cars, the risk of fine particle pollution is reduced.
The air is more breathable. The electric car also reduces noise pollution on traffic lanes.
Its maintenance cost is also much lower: no oil changes to be done, air and fuel filters to be changed, etc. An electric motor requires almost no attention and even brake discs and pads last longer.
However, the ecological risk exists concerning the batteries of this type of vehicle. These are made from rare metals, which pollute during extraction.
In addition, their treatment and recycling at the end of their life is still unknown. There is therefore a risk of environmental pollution.
The second risk is the way in which their energy is produced. If in France, the electricity produced by nuclear power plants is “clean”, in many other countries electricity is produced thanks to coal mines.
These are known to emit large amounts of greenhouse gases and to be harmful to the environment.
The difference with a hybrid car
Unlike electric cars, which have electric motors and rechargeable batteries, hybrids run on a combination of gasoline and electricity.
When the combustion engine is running, it recharges the battery of the electric motor.
Plug-in hybrids can be charged in the same way as electric vehicles.
However, they have backup petrol engines, which avoids the range stress that some have with their electric car.
Cost of an electric car insurance
If this type of car costs more to buy, the price of insurance can encourage you thanks to dedicated advantageous offers.
Insurers reward drivers who choose an economical and less dangerous vehicle.
They therefore often offer discounts on the price of their car insurance.
To calculate it, insurance companies base themselves on multiple criteria and, in particular, the frequency of claims that have occurred with your type of car.
They observed that electric cars caused few accidents.
Because their speed is limited. Indeed, generally this type of vehicle can travel between 50 and 80 km / h. In addition, they have a low autonomy limiting the length of trips and therefore the probability of having a claim.
Finally, the repairs potentially covered by insurance are low or even non-existent.
Most electric vehicle manufacturers sell their vehicles with a maintenance and battery change package.
Despite its cost to purchase, the electric or hybrid car therefore makes it possible to make various savings over time (in insurance, fuel, repairs, etc.).
In addition, the State, which seeks to encourage the purchase of this type of vehicle, has set up several aids.
In particular the exemption from the TSCA tax for any purchase between 2021 and 2023 of an electric or hybrid vehicle.
This is also the case with the conversion bonus.
What warranties should you choose to properly insure your vehicle?
To be well protected, you must take out the appropriate guarantees. They have a cost and often drive up the bill. However, it is strongly recommended to adopt them.
Take out “All Risks” insurance to have effective coverage. The price of your insurance is essentially the same as its equivalent for a classic vehicle.
Opt for the “new value” guarantee . This clause is sometimes included in high-end contracts and, in particular, in all-risk formulas.
If not, subscribe to it additionally. If you suffer a claim, you are fully reimbursed. Given the high cost of spare parts and repairs for electric vehicles, the “new value” guarantee is essential.
When charging your car, passers-by could trip over a cable and injure themselves. So make sure your electric car insurance policy covers you for liability in the event of an accident.
Temporary additional coverage
Electric cars are not very suitable for a long journey compared to gasoline or diesel vehicles. In addition, the autonomy of electric cars is limited and does not have a fast charging system.
To overcome this problem, some manufacturers provide for the use of a petrol or diesel car for a set number of days per year.
When getting quotes, therefore, check whether the policy includes sufficient cover for the short-term loan of a car in addition to the main electric vehicle.
Formula you should subscribe to insure your battery
The battery is usually leased by the dealer. So insist on insuring it directly at the time of purchase or adding it to your auto insurance contract.
You will also need an electrical outlet to charge it.
It is similar to that of your electric hob or your dishwasher. It must be declared in your home insurance contract.
If your battery ever fails, don’t fix it yourself .
If damage is found, the dealer could turn against you. It is necessary to systematically call a certified repairman for these repairs.
If you are renting your battery under a separate contract to owning the vehicle, it is important to inform your insurance company to avoid any problems in the event of a claim.
The battery cable is essential for the correct operation of the vehicle. Also, it is an expensive item, so it is necessary to have it insured.
Likewise, it is important to have zero kilometer assistance in the event of a battery failure at the foot of your home.
How to save on electric car insurance
There are a few ways to cut costs:
1. Drive safely
This is the most obvious long-term factor . Obtaining a long-term no-claims reduction will make your insurance cheaper, whatever your car.
The same goes for rechargeable models. Avoid speeding and obey the law, as points on your driver’s license will also increase the cost of your insurance.
2. Pay your premium in advance
If you can afford it, pay the full amount of your auto insurance when you purchase the policy. In direct debit payment, you will usually have to pay interest.
Plus, if you’re paying by credit card, you’ll likely owe a percentage based on your premium.
3. Reduce your mileage
Insurers recognize that the fewer miles you drive, the less likely you are to be involved in an accident. If possible, calculate the expected mileage to establish an estimate for your insurer.
Buyers of all-electric vehicles, in particular, are likely to drive fewer miles simply because of the car’s range restrictions. It is therefore possible that your annual mileage will decrease.
However, it is important that you are certain of the mileage figure you give. Exceeding this would lead to higher premiums or excesses.
4. Increase your deductible
Some insurers offer discounts if you’re willing to opt for a higher deductible.
However, make sure you can afford it, as this is the amount you will be charged for a claim.
5. Install a smart box
Increasingly popular with drivers, connected devices can reduce your insurance premium. Indeed, thanks to the information provided to your insurer, the latter, depending on the quality of your driving, can grant you a discount on your insurance premium.
Another possible option is offered by us: the use of an on -board camera on the dashboard to accurately record any incident.
Are you looking for insurance at the best price?
To reduce the price of your car insurance, while maintaining quality guarantees, all you have to do is compare .
You will thus be able to find the insurance allowing you to benefit from a maximum reduction in price for the purchase of a hybrid or electric vehicle.