Inexpensive auto insurance, comprehensive home insurance, legal protection … It is not only the insurance contracts of the buyer or renter of an electric car, which must be adapted. Update on the changes to plan.
Acquiring or renting an electric car does not change the driver’s obligation to insure. It is mandatory. As for a petrol or diesel car for example, you must at least take out third-party inexpensive auto insurance. In other words, you contribute so that in the event of an accident your insurance takes care of the damage you will do to others. But you will have no support for any other hazard: hardware breakage, theft, personal injury. For this, you must subscribe options or insurance against all risks. There, you will be covered in case of theft or injury in an accident.
What will make the difference between two insurance contracts are the guarantees of assistance
In short, these are the same classic guarantees of inexpensive auto insurance … almost the same. Indeed, the electric car has a mode of operation and risks that are peculiar to it. For example, in the event of an accident, all the convenience stores will not be able to intervene. Only those equipped and trained in electrical hazards can help you. Hence the importance of carefully looking at the guarantees of assistance to assess the extent of care.
The rental of the battery changes the assumption of the insurance
Assistance … This is one of the key points that differentiates between conventional car insurance policies and those dedicated to electric cars. Given the characteristics of electric cars, what will make the difference between two insurance contracts are the guarantees of assistance. To date, an electric car can travel between 50 – 150 km, everything will depend on the length of time of the electric battery. And since it takes three hours to recharge, we understand very quickly the need that emerges: have a support for troubleshooting. A troubleshooting which can take several forms: change the battery, charging the battery, tow the car…
The price of a car insurance for an electric car does not look more expensive than that for a classic car
And there, a third party invites itself: the seller of the car. The battery is not the property of the owner of the car but the seller or the car manufacturer. She is rented. So that it can be changed, it must be agreed. This is not the only impact. In case of accident, it will be involved depending on whether the battery is the cause of the accident or if it is damaged. It is therefore also necessary to look at the contract of rental of the battery to know if a dedicated insurance is included and what it covers in order to supplement or not the assumption of responsibility with your car insurance. It will also think to add the owner of the battery on the report and indicate its role, or not, in the accident. If so, he may have to compensate all parties or receive compensation for the destruction of the battery, for example. It also means that the expertise after the accident looks more complex.
It is more than recommended to have the home insurance policy amended to take into account the new risks associated with the electric car
Despite all these points, the insurance policy does not look more expensive than for a classic car. Insurers believe that the risk of accident is less important because the use would be urban first and not for long distances or in open country.
If for a classic car, you have to go regularly to the service station, for the electric car you have to recharge it. At home, the manufacturer will suggest the installation of a special electrical outlet in the image of what is done for a dishwasher or a stove. This is to avoid any risk of overvoltage although in principle it is possible to connect the car to an outlet connected to the ground. As a result, it is more than recommended to change the home insurance contract with this new electrical risk, to be supported if a fire was caused by the load of the car.
Do not recharge your electric car anywhere
Which also means that if you need to recharge your car with friends who are not equipped, you will need your insurance to take care of the possible damage in the event of a disaster due to the recharging of the battery. On the side of your friends, they can also decide to modify the guarantees of their contract to take into account this new use.
A driver of an electric car must at least take third-party inexpensive auto insurance
In the end, the purchase of an electric car generates many small changes and as many new potential disputes. So another contract has to be revised: legal protection. And here, you have to dive into all your insurance contracts to take stock of what is supported or not every time this guarantee is present: credit card insurance, inexpensive auto insurance, health insurance, provident insurance, insurance home, accident insurance of life … A review of contracts that will not be useless.