Electric Car Insurance

Electric Car Insurance from Keith Michaels

Personal Electric Car Insurance

The electric vehicle (EV) sector is growing rapidly.

A year or two ago the choice of EVs was very limited; it had to be a small city car, a small family car or an exotic, expensive sports cars with nothing in between. Things have changed very quickly, and we already have a greater choice that now includes superminis, large family cars, hatchbacks, estates, SUVs, executive models, and some very fast machinery.

No matter what you own, lease or have on hire purchase, when it comes to insuring your electric car, you want a policy that won’t break the bank and provides the cover you expect. Keith Michaels are specialist car insurance brokers with over 30 years’ experience, which makes us well placed to arrange insurance for your EV. From daily run-arounds to performance cars, we’re ready to help.

Electric Company Car Insurance

Have an electric company car? Our business car insurance offering doesn’t stop at petrol, diesel, and hybrid vehicles – we can also arrange competitive company electric car insurance. Whether leased on PCP, on hire purchase or bought outright, we can provide cover that works for you and your company. As with all other business car insurance policies, our specialist business car insurance brokers will work with your company to ensure the most suitable policy is arranged for a competitive premium.

What Electric Cars do we Cover?

We can arrange cover for all electric vehicles such as those from Audi, Jaguar, Porsche, BMW, VW, Nissan, Kia, Mercedes, Hyundai, Renault to EV only companies such as Tesla and Polestar, with the list continuing to grow.

Whatever electric car you may be considering, Keith Michaels provide cover for all sorts of vehicles from supercars to superminis, and just about everything in between. So, if you do end up buying an electric vehicle, contact us to discuss finding the right car insurance for your needs.

Examples of Electric Cars

Do I need a specialist insurance for an electric car?

Electric car insurance specialists like Keith Michaels are working to make electric car insurance more accessible and competitive, including bespoke insurance policies that keep the whole value of the car protected. This means you can entrust insurers like us to offer competitive and tailored policies for a range of cars, including personal and company cars.

Is it more expensive to insure an electric vehicle?

There is something of a misconception that electric car insurance premiums are more expensive than petrol or diesel cars. However, this misconception likely stems from many years ago when electric car insurers had no historic data to work with when it came to repair costs. This meant lots of insurers were cautious in their estimations, raising premiums or even declining to insure electric cars.

However, now that electric vehicles are more common and more data is available, premiums are lower. For a competitive quote though, you are best contacting a broker who focuses on specialist vehicles.

What if I’m leasing the battery?

Certain manufacturers like Nissan and Renault will offer drivers the chance to reduce upfront costs by leasing a battery separately from a car purchase. If you’re leasing a battery, you should notify your electric car insurance specialist before taking out a policy. If you own the battery at purchase, it’s value is combined with the vehicle – combined this will make up the market value of a vehicle.

What are the benefits of electric vehicles?

There are many advantages for choosing an electric car. If you’re London-based, your cars are not subject to the Congestion Charge, and when other cities inevitably enact similar policies, you will also be protected. In a few years, electric cars will be cheaper to run as combustion fuels costs more than electricity, and electric cars have no Vehicle Excise Duty (VED).

Are there any downsides to electric vehicles?

The downside to electric cars is that they can be expensive on initial purchase. This cost is justified by how expensive green technology is to develop, and the technology in these cars that powers them.

Can you get a government grant for an EV?

Certain low-emission vehicles can apply for a plug-in grant from the UK government. These costs are put towards the price of a brand-new low-emissions car, like an EV. When considering this discount, dealerships will include the value of a grant in the vehicle’s overall price when you try to purchase.

The maximum value of this grant is £2,500. This is only eligible for cars that cost less than £35,000 new. From new electric cars to taxis, view the full list of eligible vehicles on the UK government site.

What else should I consider when buying an electric car?

There are various discounts and a cost-saving opportunities when you choose electric as your next car, including:

• You could be exempt from vehicle tax
• Exemption from the London congestion charges
• You may be able to lease the battery of an electric car