Most insurers are 'not ready' for electric cars

An investigation has found that motorists who plan to buy an energy efficient electric car in the near future may find it difficult to obtain car insurance quotes for their new 'green' vehicle, as many insurers and price comparison websites have yet to fully adjust their insurance offerings to reflect the impending introduction of electric cars to British roads.

TheGreenCarWebsite.co.uk has reported that just two of four leading price comparison websites is currently able to return car insurance quotes for electric vehicles, even though many electric car models will soon be available in the UK.

The green car guide found that insurance firms themselves performed only marginally better.
40 per cent of insurers approached by the web portal during the course of its investigation, were able to quote for electric cars via their website. While a third of those who could not quote online, were able to quote over the telephone.

A spokeswoman for the green web portal, Faye Sunderland, explained that consumers were also likely to find that the quoted cost to insure an electric car will vary hugely amongst insurers, while the insurance industry adjusts to the presence of electric cars on British roads.

Encouraging motorists to compare car insurance prices, Sunderland said:

"Our research has shown that the first electric car buyers may need to be patient and hunt around for the best deal rather than accept the first quote they get.

"It might be a bit frustrating at first, as some insurers are simply not ready to deal with your enquiry, but persevere as the difference in quotations can be simply shocking.

"Things will get better as electric cars become more prevalent on the road and premiums should start to come down. While electric cars may be likely to cost more to insure than an equivalent petrol model, the difference shouldn't be eye-watering."

However, as government initiatives will subsidise the cost of purchasing selected green models, and as electric drivers can expect to save on the cost of fuel by driving an efficient vehicle, the car guide has noted that despite insurance costs, electric drivers could save in the long and short term.

Tue, 29 Mar 2011 03:24:00 GMT