Lower insurance for electric cars?
Published On 15 October 2007
Motorists who drive electric cars may pay lower insurance than those who drive petrol or diesel cars, according to a UK-based motor insurance company. Online firm motorinsurance.co.uk has asserted that electric cars are generally considered to have better fuel consumption and cheaper tax costs and as such they will "start in lower insurance bands".
The site's managing director Paul Cosh added that repair costs will eventually go down as mass production of such vehicles increases.
"Generally it is believed that electric and hybrid vehicles offer better fuel consumption, cheaper tax costs and start in lower insurance bands, therefore reducing the overall running cost of the car," he said. "The final cost of insurance on a vehicle will depend on individual factors.
"With a mass introduction of hybrid and electric vehicles, repair costs may be reduced through the market, however the cost of repairing hybrid and electric vehicles differs from manufacturer to manufacturer and this is something that is factored into a customer's final quote for insurance cover - it really depends on the individual."
Mr Cosh also noted that as a result of growing environmental concerns more people could opt for an electric car.
