Car Insurance for Electric Cars

January 16, 2013 / by / 0 Comment

Sales of electric cars accelerated in 2012, nearly doubling the rate of petrol cars. This is great news for the environment, as the SMMT has released figures which show CO2 emissions for new cars falling by almost 23% from what they were 10 years ago. This isn’t just a UK phenomenon; consumers in other parts of the EU and across the pond have also been voting with their wallets, driving up the sales of environmentally friendly vehicles and avoiding petrol car manufacturers who don’t have eco-friendly policies in place to offset the carbon cost of manufacturing a new vehicle.

A Preference for Environmentally Sound Vehicles

A survey conducted by Ford showed that more than a third of Europeans would rather purchase a more expensive, eco-friendly vehicle, despite more than 70% of them also admitting that they have reduced spending in the current weak economic climate. To meet this demand Ford will be releasing its new Ford Focus electric this year, and it will be joined in the market by the Tesla Model S and BMW i3 (and, later, i8) zero emission cars.

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Unfortunately, Ford’s survey may have determined that people prefer to drive eco-friendly vehicles and would be willing to pay more for them but it did not clarify how many people were actually able to afford to buy an eco-friendly vehicle. The Toyota Prius plug-in currently retails at £28,245 and Vauxhall’s Ampera will set you back a cool £29,995.

Saving Money and the Environment

The cheapest electric car on the market right now is Renault’s ZOE, which costs £13,650and also comes with a £70+ monthly battery hire. However the amount of miles you would be able to get out of the ZOE wouldn’t be incomparable next to one of the more expensive models, so prospective buyers would have to calculate just how much money they would save in the long term by buying a cheaper model.

One of the best ways to save money when buying a new car is to find the most competitive insurance deal you possibly can. Some insurers offer insurance discounts to drivers who operate eco-friendly vehicles, however additional charges may be incurred to cover the cost of power cable damage or battery theft. So is you’re looking for car insurance in northern Ireland or the UK, make sure you factor in that the process for insuring electric cars is still in its infancy and, whilst this might work in your favour, it equally may work against you.

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