It’s always a mammoth task sorting out car insurance, especially for young or first time drivers. Now that most drivers are making the switch to electric vehicles, this could be another factor that drivers need to take into consideration when it comes to insuring a vehicle.
We all know that the price of living has gone up, so why should the addition of an excessive car insurance premium be the thing to tip it over the edge? Check out our guide to insuring a vehicle, how you can reduce the insurance amount as well as the cheapest electric vehicles available to insure.
CHEAPEST ELECTRIC VEHICLE TO INSURE
According to the well known price comparison site, Confused.com, the cheapest current electric vehicle to insure is in fact the Renault Zoe. To date, the average premium to insure this particular EV is around £1,802 for drivers aged 17 – 21. Insuring an electric vehicle is definitely a topic that has been frequently mentioned, and something that most people are keen to know!
Now we know electric vehicles aren’t the cheapest vehicles around to insure at present, in comparison to combustion engine transport. However, we predict that when the sale ban of petrol and diesel cars draws closer, the price to buy an electric vehicle will reduce. In turn, this price will also reflect car insurance prices too.
If the Renault Zoe isn’t your type of vehicle, young drivers can also invest in the following vehicles:
- Smart EQ ForFour – £1,886
- Volkswagen e-Golf – £1,889
- Peugeot 208 EV – £1,934
- Renault Twizy – £2,088
HOW CAN YOU REDUCE THE COST OF YOUR CAR INSURANCE
As most experienced drivers will know it isn’t just about the car you’re driving. There are also plenty of other ways to reduce the cost of your annual car insurance.
No Claims Discount
No claims simply refer to years that you have not made a claim, as the name suggests. For first time drivers this will be something you receive after your first year or driving. If you continue to drive sensibly, avoid claiming and park your vehicle in secure areas to avoid car theft, this will then in turn affect your car insurance premium.
Pay annually
Although it may not be something drivers think will affect the cost, paying annually will certainly save you some money. When drivers pay monthly for their car insurance it will add on more interest, ultimately affecting the overall fee. If it’s affordable, we would definitely recommend paying for it annually instead.
Avoid motoring convictions
Motoring convictions such as speeding will also impact the cost of a driver’s insurance. Why, we hear you ask? Well, any driver with these convictions will be deemed as a higher risk, therefore bumping up their premium. The higher the number of points, the higher the cost!
Price Comparison Websites
When looking for car insurance, it’s important not to select the first price you’re offered. Using price comparison websites will allow drivers to compare the best prices offered by car insurers. We would recommend using comparethemarket.com or even MoneySuperMarket.
Excess
The excess is the amount of money you pay towards each claim. Some drivers will opt for a lower amount, but it will depend on the financial situation of the driver. If you can afford to pay a higher excess then it would be more beneficial to do so to reduce the amount you pay towards your electric vehicle car insurance.
INSURANCE GROUP RATING
Did you know that every vehicle is recognised by an insurance group? This is rated between 1 and 50. As you can guess, the higher the rating, the higher the premium will be. Factors that will influence the insurance group rating include:
- The price of the car
- The cost of replacement parts if there’s an accident
- The maximum speed of the car and the 0 – 60mph speed
If you want to reduce your car insurance payment, then it will pay to do your research prior to buying an electric vehicle for sale.
VIEW OUR SECOND HAND ELECTRIC VEHICLES FOR SALE
If you’re ready to take the plunge and buy an EV, then we’re here to help. We have a wide range of electric vehicles for sale that are ready and waiting for new owners. Whether you would like to find out more about a specific second hand car or you would like to arrange an appointment to come and view the car, our EV specialists would be more than happy to assist.
Contact us today by email, or call us on 01634 914063.
