Contemplating purchasing an electric vehicle for your adolescent daughter to learn driving? questionable move, perhaps.
Learner Insurance for Electric Vehicles: What You Need to Know
With the increasing popularity of electric vehicles (EVs), many young drivers are considering them as their first cars. However, the cost of insurance for learner drivers can be a significant factor to consider.
Alicia Hempsted, a car insurance expert at MoneySuperMarket, recommends that learner drivers opt for a telematics or 'black box policy' to help keep costs down. She also advises checking the small print carefully and comparing quotes to find the best deal.
Despite the higher insurance costs, EVs can be a cost-effective choice in the long run. Electricity is generally cheaper than petrol or diesel per mile, making EVs potentially more affordable for families and young drivers in the long run.
Quiet operation and fewer moving parts also make EVs easier to maintain, reducing routine maintenance costs. The average annual car insurance cost for electric vehicles has fallen by more than £100 since 2023 according to MoneySuperMarket data.
Driving instructors teach students how to respond to the EV just as they would with any car, so learners quickly adapt to the different feel. Some EV models even allow adjusting the strength of regenerative braking, providing a customised driving experience.
Geraint Lewis, at Red Driver Training, states that the quiet operation of an EV allows students to better focus on instructions and the road environment.
One way to reduce learner insurance costs is by adding an experienced driver to the policy. Insurance companies often offer lower premiums if an experienced, insured driver is also named on the policy, as it reduces the insurer’s risk by having a safer, more experienced driver associated with the car.
Other ways to reduce learner insurance include taking telematics (black-box) insurance that monitors driving behavior to reward careful driving, choosing a less powerful car, and paying annually in full. Potentially using P plates or completing recognised safety courses can also help to improve perceived risk.
For those considering buying a used EV, the cost of insurance is generally lower. The Hyundai Ioniq is a great choice for value, with its battery life being incredibly long and a full charge achievable in around 35 minutes.
In addition, smart home energy tariffs such as Intelligent Octopus Go, when used with a compatible charger, can provide electricity at a lower cost compared to the standard rate, further reducing the overall cost of owning and running an EV.
So, while learner insurance for electric vehicles tends to be notably more expensive than for petrol/diesel cars, adding an experienced driver to the policy and using telematics insurance can significantly reduce the premium during the learning phase. With the potential for long-term cost savings and environmental benefits, EVs remain an attractive option for many learner drivers.
Our learner, Alicia, will start learning to drive in October. She has a deal with her parents to pay for insurance and fuel, and she plans to buy an EV as her first car. She will share the EV with her mother and pass it on to her younger brother when she gets her full license. As she begins her driving journey, she is well-equipped with the knowledge of how to navigate the world of learner insurance for electric vehicles.
- Alicia Hempsted, an expert on car insurance, suggests learner drivers opt for telematics or 'black box policies' to help keep insurance costs down.
- Alicia also advises checking the policy's small print carefully and comparing quotes to find the best deal.
- Despite higher insurance costs for electric vehicles, they can be more affordable in the long run due to cheaper electricity costs per mile.
- The quiet operation and fewer moving parts of EVs make them easier to maintain, reducing routine maintenance costs.
- Driving instructors teach students how to respond to EVs like any car, and some models allow adjusting the strength of regenerative braking.
- The quiet operation of EVs allows students to better focus on instructions and the road environment.
- Adding an experienced driver to the insurance policy can help reduce premiums as it reduces the insurer's risk with a safer, more experienced driver.
- Other ways to reduce learner insurance include taking telematics (black-box) insurance, choosing a less powerful car, paying annually in full, using P plates, and completing recognised safety courses.
- The cost of insurance for used EVs is generally lower, with the Hyundai Ioniq being a great choice for value and long battery life.
- Smart home energy tariffs like Intelligent Octopus Go can provide electricity at a lower cost, further reducing the overall cost of owning and running an EV.
- While learner insurance for electric vehicles is more expensive than for petrol/diesel cars, smart strategies can significantly reduce the premium during the learning phase.
- With the potential for long-term cost savings and environmental benefits, EVs remain an attractive option for many learner drivers.
- Alicia, who plans to buy an EV as her first car, is well-equipped with the knowledge of how to navigate the world of learner insurance for electric vehicles as she begins her driving journey.
