How to properly insure electric cars
Every car owner in this country is required by law to take out motor vehicle liability insurance. In the event of an accident, there can be high repair costs that quickly end up in the five-digit range. It is even worse if there is personal injury in an accident. Motor vehicle liability insurance covers property damage and personal injury caused by the driver of a motor vehicle. When registering or re-registering a car, proof of insurance must be presented to the relevant registration authority, otherwise the vehicle cannot be registered. This naturally also applies to electric cars.
Hardly any differences to normal motor vehicle insurance
Electric cars are often cheaper to buy than vehicles with internal combustion engines. This is currently due to government subsidies in the form of premiums for new purchases of electric vehicles. The cost of liability insurance, on the other hand, differs only slightly from normal car insurance. Because here, too, the premium is calculated based on various factors. This includes the no-claims class and the no-claims bonus, as well as the type class and the regional class. When choosing the most favorable insurance for you, there are some small things to consider, which we would like to go into in the following.
Partial or full insurance?
When choosing the appropriate insurance for an electric car, you can also choose between partial and fully comprehensive coverage. It is not possible to derive a general rule as to which of the two variants is the better option. If the vehicle to be insured has a high list price or is very new, it is better to consider comprehensive insurance. Likewise, full coverage should be considered if the car was financed through a loan. In addition to partial casco, the policy covers self-inflicted damage or damage caused by a hit-and-run driver. This makes sense, because if a car owner is responsible for a total loss with a financed car, the loan does not have to be paid off for a discarded vehicle.
Special features for electric cars
The insurance of electric cars should in any case cover one of the most important components – the battery. Extensive protection of the battery is strongly recommended. When choosing insurance, car owners should make sure that damage caused by operating errors is included in the scope of coverage. It is also advisable to cover fire damage, as short circuits can occur at a charging station, for example.
Towing an electric car should also be part of the scope of services of the car insurance policy. Electricity can be generated by the axle movement in the engine, which can damage the car. In the worst case, the electricity generated can cause a fire.
Important points to consider when choosing an electric car insurance policy
Below are the key points to consider when choosing the right car insurance for electric cars:
- motor vehicle liability insurance is required by law
- Partial or fully comprehensive insurance can be additionally selected
- Comprehensive insurance is recommended for new, expensive and financed cars
- the battery of the electric car should be covered by the policy
- Operating errors that can damage the battery should be covered
- Damage caused by fire should be insured
- towing an electric car should also be covered by the policy
Frequently asked questions
Ask whether the accumulator (battery) is also insured or whether this has already been solved by a leasing contract. Are there extras? For example, coverage against hacking attacks? Are damages to the charging station or charging cable included in the insurance coverage?
According to the KBA, 150.000 electric cars have been registered (as of 1. January 2020).
Admission by year:
– 2015: 25.502 electric cars& 130.365 hybrid models
– 2016: 34.022 electric car and 165.405 hybrid passenger car vehicles
– 2017: 53.861 Electric car, hybrid car 236.710
– 2018: 83.175 Electric& 341.411 hybrid
– 2019: 150.000 electric cars
Since 18.02.In 2020, there will be new purchase premiums for all vehicles purchased after 4. November 2019 were registered. This applies to all-electric vehicles& Plug-in hybrids. Anyone who buys an e-car by the end of 2025 will receive a purchase premium of up to 6.000 euros.
As with other vehicles, taking out partial or comprehensive insurance for electric cars is optional. Recommendation: The higher the price of the car, the more it pays to have fully comprehensive insurance.