Motorists can avoid costly blunders when insuring their electric car 

Unlike their petrol counterparts, electric cars have specific needs and nuances that, if not carefully considered, can lead to major costs.

James Granton, motoring expert from Zego Van Insurance has highlighted the importance of attention to detail – even the seemingly minor modifications can have a substantial impact on your policy.

The initial revelation for many new EV owners is the cost of insurance. While electric cars are known for their cost-efficiency in terms of fuel and maintenance, their insurance premiums can be a different story. This is often due to the higher costs associated with repairing or replacing their advanced technological components.

Avoid the Blunder: Before settling, compare policies from different insurers, especially those with a focus on electric vehicles. Some insurers might offer tailored policies or discounts for EV owners, potentially offsetting the higher premiums.

An electric car’s battery is not just a crucial component; it’s also among the most expensive to replace. However, some insurers might not cover the battery comprehensively, especially if it’s leased separately.

Avoid the Blunder: Ensure your insurance policy provides explicit coverage for your EV’s battery. If you’re leasing the battery, you might need to juggle between the manufacturer’s coverage and your personal insurance to close any coverage gaps.

The necessity of a home charging station and portable chargers can’t be understated for EV owners. Despite their importance, these pieces of equipment might not be automatically covered by standard car insurance policies.

Avoid the Blunder: Clarify with your insurer whether your charging station and portable chargers are included in your policy. If they’re not, consider seeking additional coverage to protect these essential assets.

Discounts and Incentives: Don’t Miss Out: Many insurers are now encouraging the shift to electric vehicles by offering various incentives. These can range from reduced premiums for EV owners to benefits for installing a home charging station or driving fewer miles.

Avoid the Blunder: Actively inquire about any EV-related discounts or governmental incentives. These benefits can significantly reduce the overall cost of owning and insuring your electric vehicle.

When it comes to electric vehicles, even minor modifications can significantly impact your insurance. Upgrades that seem inconsequential, like enhancing the battery capacity, changing the type of tires, or adding custom software for performance tuning, can alter the risk assessment from an insurer’s perspective.

Prior to making any modifications, however minor they may seem, consult with your insurer to understand how they might affect your policy. Ensure that any changes are promptly reflected in your insurance coverage to maintain its validity.

James Granton, motoring expert from Zego Van Insurance said: “Insuring an electric vehicle involves more than just transferring practices from petrol cars. It requires an understanding of the unique aspects of EVs and a meticulous approach to your insurance policy.

“By being attentive to details, from the battery and charging equipment to the fine print of your policy and even the smallest modifications, you can navigate the complexities of EV insurance.