Luckily, while the type of car is important, your personal details and driving history also play a huge part in how much your premium will be. With the costs of buying and running an electric car getting lower all the time, this could make them more affordable than many of us realise. So, if we’ve done our homework before buying – and thought about a few simple ways to reduce our premium – that new quote shouldn’t contain any nasty surprises.
Electric cars are becoming the new normal
The electric vehicle market is booming, and with it the infrastructure, repair services and specialists needed to support it. As it grows further, it’s possible that repair and maintenance costs will fall, and insurance premiums will become more in line with petrol and diesel cars.
Right now, electric car owners can expect to offset some of their running costs through their low-maintenance, engine-free design and through significant savings made by charging instead of refuelling.
Drive down your premiums
We asked our underwriters what factors could help you bring down the cost of insuring an electric vehicle. They told us, as with petrol or diesel vehicles, reduced mileage and those precious no claims bonuses can really help lower what you pay for cover. Vehicles that have crash prevention and security systems can also save you money on your premiums – meaning a safer, more secure car could be good for you, your wallet, and the planet.
Where you keep your car could also make a difference to your quote. If you have a garage or driveway, your car is likely to be safer overnight – potentially lowering your premium.