Electric Car Insurance

Recently the United Kingdom announced that British drivers will get between �2,000 (US$2,900) and �5,000 (US$7,300) by the government towards the cost of an electric or plug-in hybrid when they become commercially available. Transport secretary Geoff Hoon emphasized that he would like to see electric cars become a real option for drivers. Currently they represent a huge untapped potential since less than 0.1% of the UK�s 26 million cars are electric. This is all good news for aspiring electric car owners, but what about electric car insurance?

Insurance typically accounts for about one quarter of car ownership fixed costs, so it should not be treated as an afterthought. Electric car insurance is not something offered by most insurance companies but when they do, they are lower than their conventional fuel counterparts, but only if the electric car is the family�s second car. Also due to reduced safety needs, electric car insurance may come with a discount.

Apart from all the particularities of electric car insurance, shopping around for a good, advantageous policy is rather similar to looking for a policy for any other type of vehicle with specific requirements. It�s important to find a company with some knowledge of how electric cars work and what type of coverage electric cars need. The owner�s track record as a driver is another important factor; the good news is that electric car owners are generally perceived as dependable folks, according to NetQuote. Remember, though, that the feeling should be reciprocal. Make sure the insurance company is solvent, dependable and will not give you too much hassle if you need to make a claim.

Finally, as with all types of insurance, the cost of repairing is a major factor informing the cost of electric car insurance. While this type of vehicle remains a niche product, this factor will tend to push prices up for now but as it becomes more popular, the cost of electric car insurance will likely accompany the trend with a fall.