We have seen a significant increase for insurance quotation requests for Tesla vehicles over the last number of months. We’ve taken a closer look at the reasons behind this & investigate the insurance requirements for these fully electric vehicles.
Having seen a rise in the number of private cars being registered and purchased in company names, some electric cars don’t attract any BIK (Benefit In Kind) tax. There are some criteria that have to be met and the car value does have to be under the €50,000 price point but this is an extremely attractive benefit for company directors. Tesla have new models launching just under this price point.
The Irish government have ambitious plans to have approximately €1m electric cars on the road by 2030. In order to support this drive they are offering SEAI grants to eligible purchasers of electric cars. Please check out the SEAI website for more details. The annual road tax on electric cars is as low as €120 which is also a significant benefit.
If you are fortunate enough to be in a position to buy an electric car, you are most definitely playing your part in helping the environment. If the current trend continues and prices become more affordable diesel cars will be a thing of the past.
Insurance – Must Read
If you’ve decided to make the leep into the world of electric cars, you might find insurance a tricky obstacle. Some insurance companies are worried about the cost implications of repairing a damaged electric car.
It is very important when insuring your electric car to make sure that the policy you have is adequate. Let’s just look at one simple example which highlights the major differences between insuring a normal car and an electric car;
Under your standard car policy you might have windscreen cover up to a max of €400, this is sufficient if you need to get the windscreen of your car replaced. Imagine having a €400 limit under your car insurance policy and you have a windscreen claim on a Tesla? A full windscreen repair on these cars can cost up to €1,500 leaving you under insured.
How to insure your electric car correctly?
If you are looking at purchasing an electric car and want to learn more about the insurance options available on the market, give our expert team a call today. We can assist both private individuals and/or company directors looking to purchase electric cars.
We have a number of different product offerings available through our network of over 18 different insurance companies. So don’t delay contact the Insurance People today on 016674985 or firstname.lastname@example.org.