Insuring your EV can be frustrating and expensive

Although EV insurance is becoming more accessible thanks to the industry’s exponential growth, it can still difficult to find a reasonable priced EV insurance. This is due to the fact that EV’s are still relatively new to the transportation market, and there simply isn’t enough data for insurance companies to assess the risk of insuring the vehicle. This has also led to some customers being rejected by their normal insurance provider. 

Other factors such as the price of the vehicle, the cost of repairs and the expensive batteries also play a role in making EV insurance more expensive than traditional petrol/diesel vehicles in some cases.   

What is different with an EV? 

Having a policy which covers your EV is more beneficial than you might think. Some EV policies cover essentials such as charging cables, home chargers and batteries. This can come in handy if for example your cables get stolen, damaged or in the event of an accidental injury. With an EV insurance policy you may be covered in these unforeseen circumstances so you can enjoy your EV without worrying (check the details of your policy to see what is covered).