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Do You Need Electric Van Insurance?

 

What’s not to like about switching to an electric van for your business use? The appeal is likely to involve considerations such as:

  • making your contribution to a friendlier environment in which CO2 emissions are considerably reduced – a display of social responsibility which is likely to go down well with your customers;

What about insurance?

Whilst taking on board the attractions, you might also be asking about the downside, especially the cost of electric van insurance – which might be expected to reflect the relative novelty and scarcity of electric vans.

Motor insurance is still required, of course. The law demands a minimum level of third party cover to meet claims from fellow road users and others who may be injured or have their property damaged as a result of your driving. Just as with conventional motor insurance, electric van insurance may also give greater protection for the vehicle by way of third party, fire and theft cover, or comprehensive insurance against all types of accidental damage.

The drawback is that many conventional motor insurers may be reluctant to extend cover to a vehicle that is still considered to be something of an unknown quantity when it comes to the calculation of loss or damage – and therefore the cost of repairs and replacement. In response to these unknowns, many conventional insurers are likely to increase the price of the insurance premiums.

Filling this niche in the market are a number of specialist insurers prepared to extend cover for electric vans – and to do so at more competitive rates for insurance premiums.

Such insurers may be out there, but you need to know where to find them. That is where a specialist broker of electric van insurance is likely to come into its own. Such a broker is familiar with the particular needs and requirements of the electric van owner, but also has a sufficiently wide and intimate knowledge of the motor insurance market to identify those insurers offering the more competitive rates.

What’s covered

Electric van insurance is designed to cover your basic, legal requirement for a minimum of third party cover, but may also extend to such standard accidental risks as fire, theft, loss and damage.

But there are special considerations, too, which recognise the particular characteristics of an electric vehicle – such as the need for public liability cover to guard against the risk of someone tripping over the electric cables whilst you are recharging the van; breakdown cover – in case the batteries are completely discharged when using the van; and cover that also extends to your driving conventional, non-electric vehicles (which might still be the better option if you have greater distances to cover).

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