If you're looking to do your bit for the environment, you may be thinking about getting behind the wheel of a green car, such as an electric car. And these vehicles are likely to become more and more popular in the next few years as fuel prices continue to rocket.
In fact, electric and other vehicles running on alternatives to petrol and diesel are set to become the vehicles of the future given that oil-based fuels are only going to get more expensive due to diminishing supply.
We are also witnessing on-going political tensions in many of the oil-producing states around the world, which has an impact on the availability of oil and translates into higher prices at the pumps.
That said, it's not just the cost factor which has led to the increased demand for green or 'eco' cars”. We are also seeing a growing trend among environmentally-minded motorists who want to do more to protect the planet by moving away from fossil fuels and the associated carbon emissions.
If you do decide to go green with your set of wheels, motor insurance is still a legal requirement, just as it is with any other vehicle on the road. But if you're looking to get a good deal on your electric car insurance you need look no further than MoneySupermarket.com, as you can compare a wide range of quotes online in one place with just a few clicks of the mouse.
Searching for cheap electric car insurance quotes
When looking for cover for your electric car, you may feel a little in the dark at first, and want to know whether all insurers offer specialist electric car insurance, whether you have to pay a premium for this type of cover, and how policies differ from standard policies.
You're also likely to want to find out whether leasing the battery will affect the cover required, and whether the recharging process has an impact in any way.
As the owner of an electric car, it's important to understand that cover for vehicles such as yours is still in its infancy, and that policies are still evolving. At present, you may have to go to a specialist provider for your electric car insurance, but as this type of car becomes increasingly popular, this will lead to more mainstream providers offering cover.
Equally, there are plenty of deals on offer right now, and if you want to see what's available, visit our comparison site to see what kind of quote you can get for your electric car.
Get cheap electric car insurance
By choosing an electric car, you can cash in on some serious money-saving opportunities, as these vehicles are exempt from vehicle tax, as well as from the London congestion charge.
This means you can save on both tax and petrol - although you will need to display a valid tax disc, and this will still need to be renewed each year.
On top of these savings, you may also be able to benefit from cheaper car insurance. While the cost of cover is based on a range of factors about both the car and you the driver, some insurers will offer a discount to electric car drivers.
These discounts are up for grabs as electric cars tend to be smaller and less powerful - and therefore safer.
All of these features help to reduce the risk profile of green cars, meaning you should be able to get a cheaper quote on your electric car insurance. In fact, some insurers will offer discounts of up to 5% off typical premiums paid by electric car owners, as a reward for driving environmentally-friendly vehicles.
Further, some firms will also make charitable donations to green charities or offer to plant a number of trees in return for your purchasing a policy, the aim being to offset the pollution caused by your car.
That said, the policies, features, discounts and incentives offered will vary considerably from one insurer to the next, making it vital to research quotes from across the board so you can be sure of getting the right cover for your needs. The easiest way to compare a large number of quotes quickly and efficiently in one place is through a comparison site such as MoneySupermarket.com.
Further money-saving tips
While there may be savings up for grabs on a green car insurance policy for an electric car, there are several other simple ways in which you can bring down the cost of your car cover:
Pay your premium upfront - while it may be tempting to set up a direct debit for your cover, most insurers will treat this as a loan and charge you interest. As a result, you're better off paying your full premium in one go at the outset if you can afford it.
Add a named driver - you can also cut premiums by adding an additional driver. This can prove especially useful where a younger driver adds a more experienced motorist, such as a parent. That said, if you are the main driver of the car you must be the main policyholder. If not, you risk 'fronting', which can invalidate your cover.
Opt for a higher excess - an easy way to cut premiums is by opting to a pay a higher excess. This is the chunk you have to pay when you claim on your policy. The key is to ensure you can still afford the excess if you do have to make a claim.
Lower your mileage - the fewer miles you drive, the less likely you are to have an accident, and your insurer may charge a lower premium to reflect that. So think about limiting your mileage, but take care to ensure the figure you give to your insurer is correct, as if not, you risk rendering your policy invalid.
Improve security measures - a good way to reduce the cost of car cover is by improving security measures, such as adding an alarm, an immobiliser, a steering wheel lock, and a tracking device. You can also boost security by parking your car on the driveway or, better still, in a garage, overnight.
Drive safely - one of the best ways to bring costs down is by building up a no-claims discount over several years, as many insurers give discounts of up to 70% to motorists who haven't claimed for more than five years. Sticking to the speed limit can also save you money, as points on your licence will bump up the cost of cover.
Install a black box - a relatively new way to reduce the cost of insurance is by opting for a telematics insurance policy. This uses a device installed in a car to monitor driving behaviour, and rewards safe driving with lower premiums. If you're a safe driver and want to find out more, visit our black box car insurance page.
Other considerations when buying electric car insurance
Leased batteries - if you lease the battery from the manufacturer, you must inform your insurer about this when searching for a quote. You should also carefully read through all the documents you received when you bought the vehicle to clarify the manufacturer's stance on this - and to clarify your responsibilities as an electric car owner.
Power cables - given that electric cars are powered by a battery which will need to be recharged, there is a risk that a passer-by could trip over the cable and injure themselves - meaning a potential insurance claim. To be on the safe side, it's worth speaking to your insurer about this to check that sufficient liability cover is provided to cover for this eventuality.
Shop around - when searching for electric car insurance quotes, as with buying any type of insurance, it's vital to do your homework, comparing quotes from different providers. The simplest way to do this is by logging onto an online comparison site such as MoneySupermarket.com where you can compare quotes in one place in a matter of minutes.
But don't automatically assume the cheapest quote is the right one for you. Scour the T&Cs to ensure your policy fits your particular needs. This will give you the peace of mind that you've picked the right electric car insurance policy.
Source: MoneySupermarket
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