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Electric car insurance
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Auto insurance for electric cars can cost 50% more than for gasoline and flex fuel cars.

Electric cars in Brazil are still few. But in recent years we have already seen an increase in the number of electric cars on the streets.

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This happens because there is a lack of investment from automakers, a structure to guarantee supply and investments in public policies.

However, the global trend is that, in a few years, cars that run on fossil fuels or ethanol will no longer be sold in several countries.

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Some governments are already investing in policies to replace vehicles with electric cars.

In Europe, for example, we can already see a big movement in this direction. Even so, this type of car is still not the majority for several reasons, including the value of car protection.

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The Institute of the Motor Industry, free translation) carried out a survey with 2000 respondents regarding the value of insurance for electric cars.

According to the study, approximately 70% of European drivers say they have postponed the purchase of an electric car.

And the value of the insurance would be one of the factors that led to this decision.

To give you an idea, hybrid and electric vehicles are up to 50% more expensive to insure than combustion vehicles.

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For insurers, what influences the price is the lack of places specialized in repairing this type of car.

But this may vary, as companies are slowly adapting to this demand.

Depending on the car model and its use, the cost of insurance will be similar to any other.

There are even cases where the price of this type of insurance is 5% to 10% below the protection of conventional models.

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How is insurance priced?

A number of factors influence the quote for any car insurance.

Before purchasing or protecting your electric vehicle, it is worth knowing these aspects.

This way, you will be able to plan your budget more easily.

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To help you, we have listed the main quote factors below. Follow along!

Car price

The price of an electric car today in Brazil is high.

One of the cheapest models is the iEV20, available for around R$119,900.00.

Although not very diverse, the Brazilian market has at least five other models of electric vehicles.

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They are: the BMW i3, Jaguar i-Pace, JAC ieV40, Renault Zoe and Nissan Leaf.

Among them all, the most expensive can be purchased for around R$437 thousand.

The price of the car is assessed when quoting the insurance because, if the vehicle suffers a total loss, the insurance company will need to pay the full compensation.

This amount needs to be enough to purchase a new vehicle.

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In other words: knowing that you will need to pay more than R$100,000 if a total loss occurs, the insurance company quotes the insurance a little more expensive.

Something that also happens with “common” vehicles.

The premise is simple: the more expensive the car, the more expensive its insurance tends to be.

Maintenance cost

Electric car maintenance can be up to 50% cheaper than that of a combustion car.

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After all, an electric motor has only 50 parts, while a regular car has 350.

This means that the risk of something breaking in the electric car is lower.

Need for specialized professionals

Although electric car maintenance is simpler, it requires more specialized workshops.

Therefore, the cost may end up being higher, especially taking into account the availability of these specialists.

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Driver profile

Another very important factor for car insurance quotes is the driver’s profile.

The greater the chance that the driver will suffer an accident, the more expensive their insurance will be.

For example: insurance companies consider that young men are more likely to have an accident.

Therefore, they pay more for protection than a female driver.

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To evaluate the driver's profile, insurers consider their gender, age, length of driving license, accident history and more.

Risk of theft

There are still few electric cars in Brazil.

There are only 5,900 electric and hybrid cars compared to 45.4 million vehicles in total.

For this reason, stolen parts sold on the parallel market are not such an attractive business.

After all, there isn’t that much audience for “commerce”.

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Therefore, these cars suffer fewer thefts.

So, the insurance quote is a little cheaper.

The insurance company

Car insurance prices also vary greatly depending on the insurer, as companies give more or less weight to a certain aspect of the quote.

It is worth remembering that car insurance prices for electric cars are quoted based on all the factors mentioned, and others.

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So, to find out the cost of your insurance, you will need to request a quote from the nearest insurance company.

Not all companies offer protection for this type of car.

But others have exclusive insurance for these vehicles, as is the case with Zurich.

Advantages of an electric car

Without a doubt, what most attracts the attention of users who purchase electric cars is their economy.

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Today, electrical energy costs much less than fossil fuels.

Therefore, it may be better to use electricity than to fuel the car with alcohol or gasoline.

Another highlight is that an electric car is environmentally friendly, as it emits a low amount of pollutants.

At a time when concerns about nature are important, purchasing an electric car can be your contribution to the environment.

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A car of this type is still silent and has good charging autonomy.

Although expensive, this vehicle can bring great benefits, especially in the long term.

About electric car insurance

In Brazil we have already had an increase in the number of electric cars, but we still see few on the street.

However, they have a high market value and need protection.

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One way to ensure that the vehicle is a little safer and the owners do not have any major concerns is by taking out car insurance.

However, many people think that this type of product does not exist on the market, which is a mistake.

Just like combustion vehicles, electric cars can have car insurance with several insurers.

The coverage offered is the same, such as: protection against theft, theft, fire, collisions and others that the insured needs.

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The form of contracting does not differ either, and can be done online or in person with a broker. What really changes is the price, as the car has a high value.

As mentioned, we also found little assistance and the cost of this assistance and spare parts is high. Furthermore, replacement parts are not easily found on the market.

These factors make the value high. But, on the other hand, it is possible to preserve the environment with this less polluting vehicle.

Insurers should, in the not too distant future, start investing in specific insurance for electric cars, as they are expected to become more common in the country.

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With the increase in this type of car, specialized labor and the number of parts will also increase, causing the value of car insurance to decrease.

If you already have an electric car, know that it is possible to take out auto insurance, and if you intend to purchase it soon, you will not be left destitute.

Take advantage and get a quote right now to find out the prices of auto insurance for an electric car!



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