Do You Need Electric Van Insurance?

0
214

 

The answer to this question is clear.

If you use an electric vehicle on the public road, it must be insured.  In that sense, your electric truck is no different to any other vehicle.

Confusion

Some owners did become confused due to various government schemes and tax exceptions designed to help the adoption of green technology.

Whatever those allowances were and are, an exemption from the requirement to have insurance isn’t one of them!  Even it if were, it would be highly risky to have a potentially high-value electric van parked up and uninsured.

So, electric van owners will need to consider appropriate insurance cover for their vehicle, just as any conventionally powered van owner would.

Your first steps

If you’re shortly taking delivery of your new electric van, you may already have stumbled into a slight roadblock when trying to take out insurance.

Many about-to-be owners have made the traditional call to their insurance providers only to find one or more of the following:

  • your insurers have never heard of your van and it’s not in their ‘list’. So, they can’t give you a quotation;
  • they don’t offer policies for electric vans;
  • the good news is that they can offer you a quotation – the bad news is that it’s much higher than you were paying for your previous conventionally powered vehicle;
  • they can “work something out for you” but can you call back in a few days to get the details
  • the quotation is not only shockingly high but also contains a long list of seemingly pointless exclusions and limitations on things such as annual mileages etc;
  • there are very complicated paragraphs on battery cover that you’re struggling to understand.

Puzzlement

If, like many, you find this a rude shock, you’re perhaps wondering why it’s happening.

The answer is simple:

  • some UK insurers simply didn’t react quickly enough to develop thought-through, specific and appropriately costed electric van insurance policies. They simply tweaked the cover of existing policies and hiked up the rates.

Fortunately, there are specialist providers of electric van insurance who are able to offer cover based upon policies specifically developed for these new vehicles.  If you’re having trouble getting cover or sensibly-priced cover, contacting a specialist provider might help you to move forward with your plans.

What to look for

A few points are worth noting in terms of – ‘does the policy’:

  • include cover for accidental trips over charging cables;
  • make clear what is or is not covered in terms of your battery (some batteries are owned but others are leased or rented – it’s important to be clear on that one);
  • provide recovery services in the event you breakdown (that should also incorporate ‘out of charge’ situations);
  • offer fully comprehensive cover (if you wish it).

At the moment, there are around 4,000 electric vans registered in the UK with the number forecast to grow rapidly in the year ahead. The specialist providers of electric van cover are well positioned to support that and that’s why it’s worth contacting them sooner rather than later if you plan to switch over to this exciting new green technology.