Car insurance

Fear running out of juice? First insurance policy for electric cars launches 


All car owners fear running out of fuel midway through a journey. For electric car owners the prospect of losing power while miles from the nearest charging point is a major reason not to purchase a environmentally-friendly motor.

Take-up of these vehicles has always been constrained by fears that the non-standard requirements of electric cars will cause significant day-to-day issues.

While the number of electric vehicles remains comparatively low, demand has been steadily rising in recent years as cars become more affordable and the number of charging points begins to increase. 

Insurer LV has responded to the growth in the market by launching the UK’s first ever car insurance policy specifically designed to cover electric vehicles.

The policy includes recovery for cars which have run out of charge mid-journey. These vehicles will be taken to the nearest charging point by a breakdown vehicle.

The insurance also covers home charging cables and wall boxes, which would not be covered by standard car cover.

Customers who require a courtesy car while their own undergoes repairs will also be guaranteed an electric or hybrid model.

The insurer said the average premium for a Nissan Leaf, a popular model of electric car, was £347 per year.

Poppy Welch of Go Ultra Low, an industry group which promotes electric vehicles, said that the launch of other policies would help bring down costs for green motorists.

“We hope to see other insurance providers follow suit and release products tailored for electric vehicle drivers,” she said.

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