Electric cars offer a credible noiseless, low fuel cost, no emission alternative to gasoline driven cars. These cars promote a cleaner safer environment by eliminating smog and air pollution. The Toyota Prius, Mitsubishi i-MiEV, Nissan Leaf and Renault Fluence are just a few of the exiting new models in the market fueling the increasing demand for the eco friendly Green car. As Electric Car Insurance is one of the significant costs in maintaining such a car it pays to look closer at what Insurance companies have to offer before you actually buy a Green Car.
How different is Electric car Insurance from the normal insurance?
What you need to know right away is that Electric car insurance is quite different from the normal car insurance you are familiar with. Green cars are built using cutting edge highly advanced technology. These cars are smaller and more prone to theft. The accident repair bills are usually higher. The spares and parts are costlier and not so widely available. These factors push up the risk rating of such cars and thereby increase the claim expenses for the insurance company.
Does that mean the electric car insurance more expensive and unaffordable?
Some of the models are much more expensive to insure than others. This is because the higher end models are more likely to present higher claim costs to insurers. What you need to do is analyze the following six critical factors that push up your insurance expenses-
- Pricing of the car
- Body damage and parts replacement costs
- Availability of body chassis/shell
- Potential accident repair costs
- Performance of the car
- Add ons, modifications and Security features of the car
Who are the Insurance providers and what do they offer?
There are a number of insurance providers in the market who specialize in Green Car Insurance, particularly in the UK. Adrian Flux and The Green Car Insurance Company are two major players. For the environmentally sensitive people, these companies offer to offset your car’s emissions by 100% by investing in new forests. The popular company ibuyeco donates 5 pounds to eco charities for every policy sold. Free courtesy car while your vehicle undergoes maintenance and repairs and 24 hour online claim options are also available.
Some companies install a ‘green box’ in your car to monitor your driving. It provides computerised driving information enabling the client to drive the eco friendly way. The hottest news is the announcement of the UK Government sanctioning grants up to 5,000 pounds to people purchasing ultra-low carbon cars.
Insurance makes up a substantial part of the operating cost of a vehicle today. Many of us, unaware of the options available, end up paying more overall. There are umpteen number of online sites all set to help you decide suitable plans and negotiate discounts in the best way to save on your car insurance expenses. So, go online now, obtain quote comparisons and save your hard earned money for other things you can splurge on.