Question 1

Benefits of an Electric vehicle

Accepted Answer

Benefits of an Electric vehicleWhen you think of electric vehicles you may think about the big reduction in fuel costs and emissions but, EVs have a lot more to offer than you may first think. Due to EVs having fewer moving parts mainly, no engine that requires an oil change or wear and tear repairs, they are considerably less expensive and less labour intensive to maintain. The battery is doing all the hard work that a traditional engine would, making the cost per mile cheaper than your petrol/diesel-powered car.And due to this lack of engine, electric cars are much quieter than conventional vehicles, dramatically reducing noise pollution. The quietness can also improve the overall driving experience and allow drivers and passengers to enjoy their surroundings, conversation, or entertainment without additional background noise.EVs are considered ‘future proof’ due to the huge investment and incentive around EV development. Infrastructure is constantly evolving and improving for the EV market, and EV cars can be remotely updated to the latest technology. Meaning EV owners no longer have to go to the fuel station or their car garage to keep their vehicles in good working order.

Question 2

EV Insurance coverage

Accepted Answer

EV Insurance coverageWith the rising popularity of electric cars most car insurers will now cover EVs and as more infrastructure to support the use of electric vehicles is implemented the insurance options for EV owners is sure to improve. Insurance works very much the same as it does for conventional vehicles however, there are some specialist EV insurers that may offer more comprehensive coverage specifically for EVs. For example, these insurers may include battery and charging cable cover. If you don't go with a specialist it is worth considering the inclusion of public liability cover to protect you if someone was to trip over your charging cable, also check to see if your charging cable is included in equipment covered by accidental damage, fire, and theft as this may not be covered as standard.

Question 3

How expensive is EV insurance?

Accepted Answer

How expensive is EV insurance?Car insurance costs are calculated from the costs to insurance companies to repair a vehicle and the ease with which that repair can be done. Therefore, EV insurance can be slightly more expensive than traditional car insurance due to parts being harder to source, a specialist being most likely required, and batteries being pretty expensive to replace. The increasing popularity of EVs is likely to reduce costs over time as well and insurance companies move to support more sustainable options. It is always worth comparing quotes through price comparison websites and considering higher excesses, using specialist insurers, and looking at paying annually to help reduce insurance premiums. It is also worth considering your overall motoring costs rather than just isolating insurance, EVs are cheaper to maintain, fuel, and tax which can provide a ‘buffer’ on slightly higher insurance costs and even still work out more affordable overall.

Question 4

Insurance With Battery Leasing

Accepted Answer

Insurance With Battery LeasingIf you're considering getting an electric car, one of the things you'll need to factor in is the cost of batteries. Many EVs come with a battery lease, which can add to your monthly expenses.Battery leasing is often done through the car manufacturer, and the cost can vary depending on the make and model of the car. For example, a lease on a Tesla Model S will likely be more expensive than a lease on a Nissan Leaf.The good news is that battery leases usually include some kind of warranty, so you shouldn't have to worry about unexpected repair costs but it is important to inform your insurer of the cover your battery has in place as this can reduce your insurance premium.Most insurers will not cover your battery if it fails, similar to if a clutch was to wear out. However, they often will cover accidental damage, damage by fire, or theft. So it is important to check with your insurer to see what they will and won't cover you.

EV Insurance coverage

EV Insurance coverage

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