Car Insurance For Electric Vehicles Explained

by

20 November 2018

Automotive

Electric Vehicles

You’ve taken the leap into electric vehicles, leaving behind petrol fumes and high bills at the forecourt lured by the prospect of low running costs, no vehicle tax, and low emissions. Or maybe you’re just considering ditching fuel tanks for plugs and are doing the maths, calculating whether the savings you can rack up with an EV, from the government’s rebate to lower servicing charges, can offset the higher initial outlay.

While electric vehicles are exempt from vehicle tax and from charges in London’s congestion zone, and you can rack up discounts on parking permits from many councils, you can’t avoid some of the standard costs of owning a vehicle. A major, unavoidable expense is for car insurance, which is a legal requirement for any vehicle using or even parked on public roads in the UK. If you’ve never sought out or arranged insurance for an electric vehicle, you might be baffled about where to start.

Cost and Providers:

You may heard electric vehicles are significantly more expensive to insure and that you’ll need to see out a specialist provider. It’s true that the market for electric vehicles, and therefore for insurance for electric vehicles, is still in its infancy. As of the end of September 2018, there are just 178,000 plug-in vehicles (including fully electric vehicles and plug-in hybrids) registered in the UK, out of a total of 37.3m vehicles on our roads. But the number is rising quickly: there were 5,000 new registrations of plug-in vehicles each month of 2018, while in 2014 just 400 new plug-in vehicles were being driven off lots.

With the increasing uptake of EVs and hybrids, especially in the run up to the 2040 ban on petrol and diesel vehicles, the cost and complication of insuring them will fall. Electric vehicle insurance policies will become standard fare from mainstream insurers.

Today, the higher purchase price of EVs drives up insurance premiums for them, as insurers need to consider to cost of replacing your vehicle if it’s stolen or damaged beyond repair.

But even now you might find insuring an electric vehicle might be comparable to, or even cheaper, than insuring a petrol- or diesel-powered car, owing to the small size and less powerful engines on EVs and the discounts some insurers can give you for driving environmentally-friendly cars.

However, the process of obtaining insurance quotes and policies for an electric vehicle is different than that for EVs and a rundown will be helpful as you start your electrically-powered journey.

What Impacts Cost of Insurance for Electric Vehicles:

You’re probably familiar with the features of a standard vehicle that can inflate, or reduce, your monthly premiums for its insurance, including its car insurance group, the size of its engine, and purchase price. For insuring electric vehicles, there’s a new calculus, accounting for who owns the battery and the risk posed by (not kidding) power cables.

leased batteries:

Some EV manufacturers like Renault and Clio offer motorists the option of buying the vehicle outright but leasing its battery, with a monthly fee and mileage agreement. These arrangements spare you the steep cost of replacing batteries when they lose functionality after a few years. But if you’re leasing the battery, you’ll need to inform your insurer when obtaining quotes, as a leased battery will affect who needs to be paid if your electric vehicle is written off. Additionally, some policies may not cover leased batteries.

power cables and liability:

Much like your smartphone, your electric vehicle will need to be charged, just with a very big cord. If you’re charging in your driveway or garage, you won’t have to worry about the cord trailing large distances. But if you’re charging your vehicle while it’s parked on the street or at a public charging station, that cord could pose a tripping hazard. When obtaining an insurance policy for your electric vehicle, you should ensure it provides enough liability cover to protect you if a member of the public face-plants over your cable.

fires from at-home charging:

If your electric vehicle or cable fire while plugged in in your driveway or garage you might wonder which insurance policy will pay out: your home insurance policy or the one for your car. That ultimately depends on where the fire originates, but the risk of an electric fault within your vehicle causing a fire that then destroys you home can push up premiums for car insurance for EVs.

green discounts:

Some insurers will offer discounts of up to 5% on your annual premiums as a reward for you driving an environmentally-friendly car. Others will make charitable donations to green causes in your name from your premiums or plant a certain number of trees.

Read Also:

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

single speed bike

Benefits With Riding A Single Speed Bike in the City

Are you tired of trying to find a parking spot in the city? Well, single-speed bikes are becoming a popular means of transportation in big cities. Single speeds are ideal for leisure biking enthusiasts and more advanced racing cyclists. Would you like to know about the benefits associated with riding one of these bicycles in the city? Here Is A list of the Most Prominent Advantages Single-speed bicycles are easier to use than gears. Needs very little maintenance. Are less expensive than other bikes. Provide easy uphill traveling. Are lightweight and highly durable. Make for a smooth ride, including coasting along roadways. Single Speed Bikes VS Mountain Bikes Deciding on a single-speed or multiple-gear bike depends on one's personal intentions. And is a choice that is further compounded by the various options which fall under each category. Bicycles are becoming a popular method of transportation in today's world. Helping people to stay physically fit and eliminates the frustration of commuter congestion. Multi-Gear Bicycles: For those who enjoy riding through forests and along nature trails. A mountain bicycle is set with lower gears that are perfect for rough terrain. These gears allow riders an option to choose what ratio of Pedal-power propels the bicycle forward. Through the use of adjusting chains, allowing one to travel over various kinds of terrain. Multi-gear Mountain bikes have what it takes for moving across undulating landscapes. And their low-gear setting provides a smooth uphill climb. As the bicycle travels downhill the higher gears allow it to pick up speed. Giving it the ability to cover more ground. Most multi-gear mountain bikes range from three, thirty, and higher. Due to the need to handle both hilly surfaces and distance; they have a greater amount of gears. Single Speed Bicycles: For someone looking to commute around the city; a single-speed bike works the best. As its name suggests, a single-gear bicycle only has one gear. In other words, the rider utilizes that one single gear by itself! There is a braking mechanism, but single-speed bikes don't have the added gears for an uphill climb. Thus, working the best on flat terrains and surfaces. Making them a favorite bike for city riding. The Pros & Cons Of Single Speed Bikes Before you go out and buy a single-speed commuter bike, it's best to first weigh the pros and cons. Such as the various price ranges; starting out at $150 up to $2,000. Even if you're a newbie to single-speed bikes, this guide will give you a better understanding. The Pros Of Single Speed Bicycles Simplicity: Practical bike riders prefer something affordable that's capable of getting them from point A to point B. Single-speed bicycles allow you to travel through the city with ease. Without worrying about shifting gears. The simplicity of these bikes also means a smoother ride. Single Speed Bicycles Are Excellent For City Riding: Have you ever attempted to maneuver a mountain bike down a narrow city street? The many backbreaking potholes. But, a single-speed bike makes your riding experience more pleasant. Great Leg Shapers: Do you want a hardcore leg workout and an improvement in health? A single-speed bike is exactly what you're looking for! They are ideal for long-distance traveling. Thus, helping to improve your muscle tone while riding. The Cons Of Single Speed Bikes Don't Climb Hills Well: The one major disadvantage with a speed bike is uphill climbing! Though traveling Downhill can also be challenging. For instance, you will have to keep pedaling even while going downhill. Single Speed Bike Features: Features may vary depending on the bike. Below are some of the more popular ones. Bullhorn Handlebars Pro-Max Brakes A Protek Crank Horizontal Dropouts KMC Chain Hand-Built Steel Frame Frequently Asked Questions: What is a fixed gear bike? Fixed gear uses a special track or fixed cog. Which are located on the back hub? Thus, because there's no freewheel, your legs are in control! Why don't single-speed bikes have any gears? Putting gears on the bike would complicate its performance quality! Is it easy to mount and dismount a single-speed bike? Single-speed bicycles can be mounted just like a regular bike! Final Verdict: As you can see, single-speed bikes are a great concept for city riding. Plus, they also will help to save you time and money in the long run! Read Also: Is Capital Goods A Good Career Path In 2021? Best Paying Jobs In Energy

READ MOREDetails
Hiring Van

Why Hiring Van is More Beneficial?

No matter how good and comfortable a car becomes nothing can be compared to the fun and luxury a van can give. There is a myth that cheap van rental does not exist. Well, if you feel the same, then this is a myth buster for you. Not to mention the brands, there are authentic car rental companies who are known to provide luxurious and affordable vehicles on rent. However, there are other misconceptions regarding renting a van. The following benefit for renting van might help in eradicating those misconceptions. Affordable: If affordability is what you are concerned about then hiring a van rather than hiring two cars for your family trip, would be much more convenient. Even if you want to cut more on your rental expenses you can choose from the wide range of vehicles that are offered at the rental agencies with a different price. Older brands are more affordable as compare to the new brands which provide almost present the same uses. Thus, opting for cheap van rentals would be wallet friendly. Lower mileage vehicles: When a group of people leaves for road trips everybody wants leisure and relaxation. Vans are the best option for those who like to drive on an average speed. Mostly the road trips are driven through the highways; meanwhile, the mileage can be increased to a certain comfort level accordingly. Extra head and hand space: Needless to say, a van will have huge space as compared to a sedan and SUV. Hiring a van from a cheap van rental will give you extra head space which means you will not hit your head if your stand straight (although, if you are of average height). There will more accommodation for multiple people to fit in with aloft space and rooms. There is van of different sizes and shapes such as a cargo van, passenger van or a minivan. Multiple Storage Option: Big vans are just convenient for long road trips to be it for single, double or family use. Big van such as caravan comes with two to three sets of conversion beds. The van consists of one to two mini refrigerators, multiple cabinets for storing essentials and belongings and a mini restroom.  Few conversion vans also have barn-style wings which give more space for storing small utilities. Custom Conversion: One of the best parts of certain cheap van rental is that they can be transformed into different conversions accordingly. Even after being admired by many, only few could buy them because of their price. However, renting such van for a trip would be no harm. While renting a vehicle one can demand the agency to make certain custom conversions in the same which might include some extra charges. The agency can transform a cargo van into a single use homey living space. As a result, this can help in cutting the cost of motels that one might incur to spend their nights. Buying a van for a family trip might not be a piece of cake but renting one is definitely. Many car and van renting companies offer astonishing services at affordable prices. Read Aslo: Car Insurance For Electric Vehicles Explained Tips For Renting A Wheelchair Van At Your Destination

READ MOREDetails
Car Battery Maintenance

Car Battery Maintenance 101

Here’s a fact to get the ball rolling; Did you know? Majority of car breakdowns are due to a simple battery failure. Car Battery Maintenance can reduce the chances of your car breaking down. That’s right! Batteries, an invention of the 1800s still very much useful today. Power windows, music system, headlights, auxiliaries and what not, car batteries are an essential part of an automobile. A car battery has a limited lifespan, a well-maintained car battery should last you around 3-5 years, But many find that they have to replace their car battery every 1 to 2 years. A poorly maintained battery loses its capacity to hold a charge and eventually fails. So, if you want to avoid the inconvenience of an unexpected breakdown simultaneously ensuring a prolonged battery life, we are here with 5 simple tips on car battery maintenance. 1. Always keep the battery terminals corrosion-free: One of the most recurrent problems with battery is corrosion build-up on the negative and positive terminals. Corrosion acts as a barrier between the battery and the vehicle thereby breaking the connection. A simple fix for this can be a light scrubbing with an abrasive pad to dislodge the crud build-up from the terminals. Car battery maintenance can minimize the chances of corrosion. Top Tip: add a dab of vaseline to the terminals to prevent further corrosion 2. Do not operate any electronics during startup: When the engine is running,  the car alternator generates electricity and charges the car battery, but when the engine is off, the car relies on battery power only. So, it is important to limit the use of any electronics just before or while starting the car to avoid unnecessary load on the battery. Top Tip: switch off the AC and the music system before cranking the car to avoid damage to the battery.   3. Full charge your car battery at least once every month: Did you know? Your car draws power from the battery even when the car is off. This is required for the anti-theft system to function. Make a habit of charging your car battery every month or two to avoid a dead battery situation. This will also help the battery maintain a healthy charge density and prolong its life. Invest in a good battery charger for your vehicle if you don't wish to visit a garage every month. 4. Check your car’s alternator for car battery maintenance: An Alternator is a very crucial component responsible for charging the car battery when the engine is running. So, it becomes very important to ensure a functional alternator for a healthy battery life. Get the alternator checked every time you visit a garage. Telltale signs of a failing alternator include; battery warning light on the dashboard, flickering headlights, engine cranking issues, and other electronic failures. 5. Do not overload your car battery with accessories: Auxiliary fog lamps, high power music system, novelty lighting. These are all power hungry accessories draining the life out of your car battery. Every car battery has a load limit and can take only much before failing. Car battery maintenance can make your car move faster. So, go easy with those fancy lights you’ve just bought off Amazon, and check if your battery is capable of taking the increased loads. Bonus Tip: Always top-up car battery with distilled water ONLY: In this day and age of “No-Maintenance” batteries, you don’t have to periodically refill the batteries with water anymore. But still, all car batteries require a specific level of distilled water to function optimally. Distilled water is required for the proper flow of electricity in the battery. Using normal tap water which contains metal ions can permanently damage the electrodes causing a degradation in charging capacity of a battery. Low water level can damage the cells inside the battery causing a failure. Visit your nearest hardware store for a litre of distilled battery water. Read Also: Car Insurance For Electric Vehicles Explained Important Tips To Maintain Your Luxury Car

READ MOREDetails