Electric cars: insurance should also cover the battery

Electric cars: insurance should also cover the battery

A parking lot for electric cars.
© dpa

The number of electric cars on German roads is increasing. But how do I make sure? Do you have to consider something special with this album?

Basically no. As with other vehicles with combustion engines, electric cars also require liability insurance. Most insurance policies for electric vehicles do not differ from insurance policies for gasoline or diesel engines in key aspects: the conditions, costs and benefits are very similar.

The greenest and lowest emission vehicles do not usually bring any special benefits, at least when it comes to insurance. However, some providers already have special e-car policies that also include the battery in the insurance. Before entering into an insurance contract, owners of electric vehicles should thoroughly inform themselves about the various options.

Drive plays no role in insurance

The battery is an essential part of an electric vehicle and, depending on the model, can account for around 33 percent of the vehicle’s value. If the battery is damaged, repair or replacement costs can quickly reach $10,000 or more. For this reason, some insurance companies offer rates that include very special services for e-cars.

The type of unit does not play a role in liability insurance. You are not responsible for damage to your own vehicle. In principle, the various comprehensive insurance policies can also be used for electric cars. However, it is worth taking a closer look at comprehensive insurance. There are certain insurance benefits that are important in connection with an electric car. They may already be included in the normal rates. Some providers also have additional services for electric cars.

What makes sense with electronic car insurance?

In the case of hybrid and electric vehicles, the damage caused by short circuits or consequential damage from a marten bite is considerable, and the amounts involved are high. At this point, many insurers have improved their offers. With most providers, the sum insured for short-circuit and marten damage or emergent damage is a maximum of 10,000 euros.

Not long ago, the amount of damage here was a maximum of 5,000 euros. Good insurance also covers damage from power surges in the event of a lightning strike or if the wall box and charging cable are stolen or damaged. Sometimes these insurance benefits are already part of the comprehensive insurance, sometimes it is necessary to opt for an additional module.

What about battery insurance?

The battery must always be included in the all-risk insurance of the electric car. Almost all providers, with a few exceptions, also offer this. With few exceptions, comprehensive insurance offers insurance protection in the event of: fire, theft, marten bite, short circuit or flood.

Comprehensive insurance also covers damage caused by vandalism and damage to your own car caused by accidents for which you are responsible. Customers should be particularly vigilant here and read exactly what is included in the scope of insurance. The sums insured differ considerably depending on the provider.

All Perils Cover: what does it do for the battery?

Some providers have what is known as comprehensive or comprehensive coverage if the battery is damaged. With complete protection, the batteries are protected against all dangers, including damage caused by incorrect operation. Certain types of damage are always excluded from insurance coverage: wear and tear, chemical reactions, and design defects. Decrease in battery performance after a certain period of use cannot be guaranteed either. In these cases, the manufacturer’s warranty may apply.

Deep discharge is an example of insurance damage. Permanently damage the battery. Thanks to modern battery management systems, operating errors are almost impossible. Customers with a higher need for security can also protect themselves against this.

Letter of protection recommended

An electric car is not as easy to transport as a car with a combustion engine. The electric car generates electricity through the drive shaft. Improper towing can cause short circuits.

In the worst case, the battery is affected or the vehicle burns out. If you want to insure towing costs in the event of a breakdown, you must add a cover letter to the scope of the insurance.

Is there a used car warranty for electric cars?

A used car warranty, also known as used car insurance, covers repair costs for a used vehicle. The contract specifies exactly which assemblies or components are included in this insurance coverage. They can include engine, electrical system and transmission, for example. The battery is not yet part of used car insurance.
How much does electric car insurance cost?

The cost of insuring an electric car is usually neither higher nor lower compared to the cost of conventional car insurance.

The characteristics of the rate determine the insurance premium

An electric car at the charging station. Photo: dpa

The type class: It is closely related to the damage to a specific car model. The more damage a certain type of car has sustained, the higher the type class and the higher the insurance premium. In contrast, few claims correlate with a low insurance premium.

The Regional Class: The regional class applies to a specific registration district. If there is particularly little damage in a registration district, the regional class is low. As a result, insurance premiums are also low.

The class without claims: It takes into account the balance of damages of the policyholder. The more accident-free years a driver can accumulate, the cheaper their insurance premium will be.

Other factors that play a role in calculating contributions are: the annual mileage, any deductible, the age of the driver, the number of drivers and also the value of the vehicle. There are not that many electric cars on the roads in Germany at the moment. For this reason, claims balances are not yet very significant. For this reason, insurers use data from similar vehicles with internal combustion engines to calculate the amount of the premium.

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