Electric cars are up to 25% cheaper to insure than combustion models, according to a model calculation by Verivox.

Electric cars are up to 25% cheaper to insure than combustion models, according to a model calculation by Verivox.

According to a report from www.verivox.de, electric cars are up to 25 percent cheaper to insure than comparable models with combustion engines. This was the result of a model calculation by the comparison portal Verivox. In all six cases examined, electric cars were cheaper to insure than conventional vehicles. The cost differences were between 8 and 25 percent, which can amount to up to 168 euros annually.

The managing director of Verivox Versicherungsvergleich GmbH, Wolfgang Schütz, explains this difference with a positioning competition between insurers in the young and still developing market for electric cars. They want to position themselves in this market through favorable offers. However, this trend could evaporate if electric cars become more established on the roads. It is quite possible that the tariffs for electric cars and combustion engines will align in the next few years, says Schütz.

According to the Verivox evaluation, drivers can save a lot of money by comparing tariffs, regardless of the type of drive. Cheap tariffs for electric cars – depending on the model – are between 29 and 32 percent cheaper than offers in the middle price segment. This results in cost advantages of up to 205 euros. For petrol engines, the savings potential is between 32 and 34 percent and amounts to up to 318 euros.

There are numerous tariffs with good services that are below the average price level, says Wolfgang Schütz. It is particularly important to adequately protect the electric car's battery, as it is the most expensive and most important component. E-car owners should therefore choose insurance that covers damage caused by short circuits, overvoltage damage and damage caused by transport. Due to the high purchase costs, fully comprehensive protection with replacement value or purchase price reimbursement is also recommended. In addition to these specific recommendations, the same insurance guidelines apply to electric vehicles as to all cars.

Verivox's analysis is based on the insurance costs (liability plus comprehensive insurance) for six electric cars and comparable vehicle models with combustion engines. The model cases cover different segments and bodies. The general conditions such as driver profile and driving performance were identical. The evaluation included around 400 tariff offers from over 70 insurers.

Source: According to a report from www.verivox.de