The alternative to internal combustion vehicles is finding acceptance among more and more drivers. Designed to reduce CO2 emissions but also noise pollution in large cities, electric (or hybrid) cars make our ecological sensitivity vibrate. If you tend to drive mainly in built-up areas, perhaps you have already considered switching to electric? However, the acquisition of a vehicle implies adequate insurance, under penalty of disappointment. And since electric cars don’t drive the same as gasoline-powered cars, certain details of the insurance terms should catch your attention. Between the procedures, the criteria and the prices, here is what to expect when you insure your electric car.
- Why do you need to insure an electric car?
- What types of insurance are possible?
- Tips to better cover yourself with an electric vehicle
- Insure an electric car yes, but also the battery!
- Prevent your home insurance!
- Special guarantees for electric car contracts
- How much do you get for electric car insurance?
Why do you need to insure an electric car?
First, because it is mandatory, according to Article L211-1 of the Insurance Code, available on Légifrance. Electric cars indeed correspond to the definition determined by the article:
“[…] “vehicle” means any land motor vehicle, that is to say any self-propelled vehicle intended to travel on the ground and which can be actuated by mechanical force without being linked to a railway track, as well as any trailer, even unhitched. ”
This is why you must always carry valid insurance documents with you, otherwise you risk facing serious penalties one day.
What types of insurance are possible?
The minimum required is “third party insurance”. We found a definition on the Macif website, on which you can insure an electric car: “In the event of a responsible accident, your third party insurance allows you to compensate the victims, even if they are not insured. However, damage to your vehicle is not covered. This is also the case with bodily injury ”. More efficient, you can also count on intermediary insurance, which you can customize by selecting your options as below:
This is when the type of vehicle weighs on the scale. Electrical drivers are less likely to have serious accidents because they travel shorter distances and at moderate speeds. You can, for example, take out kilometer insurance. Either way, still don’t get a quote.
Finally, the safest (without necessarily being the most suitable) lies in Assurancetourix… sorry, “all risk insurance” we were saying, which naturally includes all guarantees, but at a high price. Electric and hybrid models themselves are expensive, so it can still pay off.
Tips to better cover yourself with an electric vehicle
You will understand that insurance is seeking to be flexible to better suit policyholders according to their particularities. In return, the specific formulas require special attention on your part. However, here are some basic principles.
Insure an electric car yes, but also the battery!
The battery of electric cars is one of their essential and complex components. If the subject interests you, you can take a look at our top article on battery innovations. Suffice to say that this element is one of those that raise the price of electric vehicles. You can even rent it rather than acquire one, which is to say if it is an expensive and sensitive piece! In this case, think about warranty extensions.
Prevent your home insurance!
You wouldn’t think about it right away, and yet … Let’s say your home has its own gas station: how can you not protect yourself against the risk of fire? For battery power, it’s exactly the same. A short circuit going badly on a home charging station, sure, isn’t supposed to happen, but neither is it. So you are a little more at risk than any other insured, at least when it comes to home insurance.
Special guarantees for electric car contracts
Fortunately, it’s not up to you to be savvy when purchasing insurance. The insurers themselves have taken the plunge to offer you specific offers for electric or hybrid car drivers:
towing the vehicle to the nearest charging station
additional battery insurance
coverage of damage related to a malfunction of the charging process (in the event of an overvoltage for example …)
The other options available are the same as for a traditional automobile.
How much do you get for electric car insurance?
The mere fact that electrical conductors have a lower risk of loss may be enough to cut insurance in half. Hybrids are less affected since they can be used in the same way as a combustion engine vehicle. Regarding the insurance premium itself, you will always have the opportunity to play on the compensation limits, the application of deductibles, the exclusions of guarantees and the waiting periods. Finally, government aid exists to encourage green consumption by lowering the insurance premium. Either way, don’t hesitate to go to an insurance comparator to see which one would suit you best. And for other tips on insuring your car, you can glean some info from this article on how to reduce your auto insurance bill!