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Cover available can include:
- All types of electric vehicles insured
- Electric cars
- Electric vans
- Plug in cars / plug in hybrids
- Low emission vehicles
- Alternative fuel cars
- Cover for charging cables, wall boxes and adaptors for accidental damage, fire and theft
- Battery cover for accidental damage, fire and theft
A Guide to Electric Vehicle Fleet Insurance
Electric vehicles are becoming more popular all the time. Their range of benefits, including zero emissions, no vehicle tax, a smoother driving experience and lower running costs mean they’re becoming a more popular choice for businesses too.
If you have 2 or more electric vehicles, then insuring them on a fleet policy is usually the best option. Not only is it easier to insure your vehicles under the same policy, but it usually works out cheaper too. Read below to find out the different types of electric vehicle fleet insurance you can get as well as the answers to the most commonly asked questions people have.
Did you know…?
The running costs for electric vehicles is considerably lower than with standard petrol and diesel cars.
Types of electric vehicle fleet insurance
- Third part only – Third party only insurance is the minimum level of cover you’ll need to make the vehicles in your fleet road legal. It doesn’t provide any protection for your own vehicles.
- Third party, fire and theft – Third party, fire and theft will cover your vehicles for any damage caused by fire as well as theft.
- Fully comprehensive – A fully comprehensive policy will protect your vehicles for fire and theft as well as any collisions, including those that your drivers are responsible for.
- Breakdown assistance – Breakdown assistance is a very useful type of additional cover, particularly for business vehicles. Most insurers will be able to provide this as part of your policy.
Did you know…?
Insuring vehicles together on a fleet policy is not only more convenient but can also save you money compared to insuring them separately.
The benefits of electric vehicle fleet insurance
Some of the main benefits of electric vehicle fleet insurance are:
- One easy-to-manage policy
- Often cheaper than insuring individually
- Easily add and remove vehicles as you need
- Add and remove cover options to suit your needs
Did you know…?
Getting a lot of quotes is one of the best ways to prevent overspending on insurance.
Get electric vehicle fleet insurance quotes now
If you’re ready to get electric vehicle fleet insurance quotes from a panel of specialist providers, then simply click the green button below. You’ll be sent your quotes within minutes and all you have to do is pick the one that’s best!
Electric Vehicle Fleet Insurance FAQs
What is electric vehicle fleet insurance?
Electric vehicle fleet insurance enables you to cover multiple electric vehicles under one policy as opposed to insuring them separately.
More and more insurance providers are offering electric vehicle fleet insurance now as the data on repair costs for electric vehicles becomes more widely available.
Do I need fleet electric vehicle insurance?
Any vehicle you own will need to be insured in order to make it road legal. If you have multiple vehicles, then you can either insure them individually or as part of a fleet.
Fleet insurance comes with some key benefits over insuring individually, namely that it’s usually cheaper and it’s easier to manage than a single policy.
What makes insuring electric vehicles distinct from covering traditional ones?
When it comes to insuring electric vehicles, there are a few key differences compared to traditional ones. Factors such as the steeper initial price of electric vehicles, contrasting repair and upkeep expenses, and the presence of specialised components like batteries and charging systems set them apart. Insurance providers are likely to weigh these aspects when calculating premiums and selecting cover available.
Are there any specific requirements for electric vehicle fleet insurance?
There may be specific requirements for electric vehicle fleet insurance, such as the types of vehicles covered and the minimum number of vehicles needed to qualify for a fleet policy.
How are premiums calculated for electric fleet vehicle insurance?
Premiums for electric fleet car insurance are calculated based on various factors, such as the number of vehicles in the fleet, the types of vehicles, the driving history of drivers, and the level of coverage chosen. Insurance providers may also consider the unique aspects of electric vehicles when determining premiums.
Do all insurance providers offer insurance for electric fleets?
Most fleet insurance providers also provide cover for electric fleets, however some might be reluctant to offer a policy, particularly if it’s for more expensive models, such as Teslas.
It’s also possible that some insurance providers might require you to take certain steps in order to take out a policy, for example fitting your vehicles with trackers.
Why is electric car insurance expensive?
The running costs of electric cars are known to be much cheaper than standard vehicles but something that can put people off buying an electric car is the higher insurance costs.
Because electric cars have only become popular in recent times, insurers don’t have the necessary data available for repair costs. This has meant that a lot of insurance providers have been overly cautious when calculating the cost of premiums for electric vehicles.
The good news is that with more and more people taking the plunge into electric, insurance costs are coming down all the time.
Will the cost of electric car insurance come down in time?
With electric cars becoming more popular all the time, this means that insurance providers can get the necessary data they need for repair costs to come up with a fair price for their policies.
The cost of electric car insurance has been falling for the past few years and that trend looks set to continue as the market thrives. Another factor that helps lower the cost of electric car insurance is that they’re less likely to be stolen compared to standard cars.