Does an electric car need special insurance?
In the following, we will show you how car insurance for an e-car differs from conventional car insurance, how it is calculated and what alternative insurance models are available.
E-car insurance: These services are included
Motor vehicle liability insurance is required by law in Germany – if you do not have car insurance, you are not allowed to drive your electric car on a public road. When it comes to liability, the same rules apply to e-cars as to combustion engines. Car insurance for e-cars protects you as a policyholder from the costs incurred if you are at fault for an accident with your vehicle, both for property damage and personal injury. However, it does not cover the damage caused to yourown car.
Comprehensive insurance is voluntary, but it is a good idea because it covers expensive damage to your own car. A distinction is made between fully comprehensive and partial comprehensive insurance.
Therefore, it is best to insure your new e-car with fully comprehensive insurance. It includes the benefits of partial comprehensive insurance, i.e. it covers damage caused by fire, lightning, hail, storms, marten bites, wildlife accidents, burglary and theft. The following are also covered:
- Damage caused by vandalism
- self-inflicted damage to one's own car
- Accidents through no fault of your own, with hit-and-run of the perpetrator
Does special battery insurance for e-cars make sense?
As an electric car driver, you should also pay particular attention to how well the battery (read: the battery) of your electric car is insured. So far, many fully comprehensive insurance have lacked corresponding add-ons, including leasing e-cars. The clauses are also not necessary for new cars, because the manufacturer's warranty takes effect first. Within the first six to ten years or 160,000 to 250,000 kilometers, the batteries are insured by the manufacturer. For used electric cars, however, special e-car battery insurance can be worthwhile after the warranty period.
Normal car insurance policies do not cover all the dangers that threaten the battery, the heart of the electric car.
That's why some insurers now also have special e-car insurance in their range. As part of a so-called "all-risk cover", the e-car is then insured against risks that fall under the table under regular car insurance. For example, the heart of the electric drive, the battery, is then protected against operating errors during charging, damage caused by animal bites and in the event of fire. In addition, the e-car is insured against damage during towing - this is not quite as uncomplicated with an electric car as with a gasoline or diesel car.
By the way: Even if you drive a hybrid or plug-in hybrid, comprehensive insurance and additional insurance for the battery are recommended – not least because of the complex technology and the comparatively high purchase price.
Insurance for e-cars: What costs are incurred?
In principle, the premium of a car insurance policy is not calculated according to whether it is an electric car or a combustion engine. Instead, various factors are taken into account when calculating the insurance amount of a motor vehicle hull insurance. These include, among others:
- Type class and regional class
- No-claims class
- Annual mileage
- Amount of the deductible
- Age of drivers
- Occupation
- Vehicle age
- Vehicle value
How can you reduce the cost of e-car insurance?
Another way to save on the insurance of your e-car is by switching to another insurance company. During the changeover season, from October to November, it is worth paying attention to the prices. November 30 is the deadline to properly cancel car insurance by December 31. Even if you have been with a low-cost provider for years, you should compare car insurance for electric cars.
With special e-car insurance, damage to the charging infrastructure is also covered.
Change car insurance & save money
Another way to save on the insurance of your e-car is by switching to another insurance company. Most providers allow you to terminate your insurance contract at the end of an insurance year with one month's notice. The insuranceyear usually corresponds to the calendar year. November 30 is the deadline to properly cancel car insurance by December 31. Your existing insurance is then valid until the expiry of your contract, i.e. usually the 31st.December. If you do not submit the notice of termination in time, the contract will be extendedby one year. During the changeover season, from October to November, it is worth paying attention to the prices. Even if you have been with a low-costprovider for years, you should compare car insurancefor electric cars. Pay attention not only to the prices, but also to the services included. To get a realistic comparison, you should first check howmuch the current insurance policy would cost next year. You can find the upcoming tariff costs in the upcoming premium invoice. When comparing different providers, you should pay attention to special clauses in the insurance policy of electric car insurance that cover fire damage, battery damage and towing risks.
Is e-car insurance more expensive than combustion engine insurance?
Bis vor Kurzem war der Kaskoversicherungsschutz für Elektroautos etwas teurer, weil die Versicherer noch wenig Erfahrung bei der Schadensregulierung besaßen. Im Zweifelsfall musste man für die aus Sicht der Versicherung unbekannten Gefahren einen Aufschlag in Kauf nehmen.
Das ändert sich aber zurzeit. Die Verkaufszahlen von Elektroautos steigen und die Versicherer verfügen daher über einen immer größeren Datenschatz. Daraus geht hervor, dass es bei der Schadensbilanz keine Unterschiede zwischen Verbrennern und E-Autos gibt.
Dieser Umstand hängt nicht zuletzt mit einer gesetzlichen Regelung zusammen, die besagt, dass Elektroautos eigensicher sein müssen. Heißt im Klartext: Wenn es zu einem Defekt im System kommt, wird die Batterie unverzüglich von anderen Hochvoltmodulen getrennt, wodurch eine potenzielle Brandgefahr im Keim erstickt wird.
Das hat wiederum den angenehmen Nebeneffekt, dass eine E-Auto-Versicherung nicht (mehr) teurer sein muss als Kfz-Versicherungen für Verbrenner.
Car insurance for certain electric cars
In addition to the normal fully comprehensive policy and special insurance for your electric car, a third option is conceivable: insurance tailored to the specifications of a specific model. This is the idea pursued by the electric car manufacturer Tesla, which offers an insurance package exclusively for its own customers. In InsureMyTesla, the carmaker is cooperating with Helvetia Insurance and FinTech Qover. If you decide to insure your e-car accordingly, you will benefit from the following advantages, among others:
- Comprehensive insurance
- Premium reduction of one month
- Replacement value compensation of up to 24 months
- Battery coverage for the first 24 months
- Insurance for damage to Tesla chargers
Do you own a model from electric car pioneer Tesla? Then the manufacturer's own insurance cover "InsureMyTesla" could be interesting for you.
Digression: Do you need insurance to charge the e-car at the socket?
Vehicles with combustion engines generally have a higher fire load than e-cars. No wonder, as they are powered by highly flammable fuel. However, critical situations also arise with electric vehicles. This includes, above all, charging the battery, where a lot of energy flows for a short time. This means a high load on the battery, but also on the power supply. If the e-car is to be charged in the garage, the house network must therefore be adapted to the challenge. Normal socket connections are not designed for this type of continuous load, which increases the likelihood of a cable fire during charging . If you want to charge your e-car in the garage, we recommend purchasing a wallbox that has a high-voltage connection. In addition, a fire detector should also be installed in the garage.
If a fire occurs in the garage while charging the electric car, household contents or residential building insurance will cover most damages. However, if the installation of the charging device was not carried out by a qualified electrician, the insurance cover may expire!
Are wallboxes, charging cables and the like also insured?
If you charge your e-car at home, you often use a permanently installed or mobile wallbox, your own charging cable and other accessories. This raises the question of whether such modules are also covered by electric car insurance. The answer is: no. If you want to be on the safe side with regard to damage caused by incorrect operation, weather conditions or violence, you can of course add additional modulesto your insurance or take out a separate device insurance. However, such a requirement is not mandatory.
Conclusion: Inform and insure your e-car correctly
If you buy an e-car, you will need car insurance at the latest for the registration of the vehicle. Of course, it is not possible to say in general terms which one is best for you and how much you benefit from a special e-car insurance. Therefore, you should always inform yourself thoroughly before taking out a contract and compare the tariffs (including services and prices) thoroughly. With the insurance in your pocket, nothing stands in the way of picking up your new e-car. By the way: If you don't yet have a precise overview of how an e-car performs in terms of maintenance costs, we have a suitable article with all the information for you.