Best Electric Cars 2015, Over-charged? Insurance on electric cars can be 60% higher than petrol equivalents thanks to cost of repairs – and it could be denting sales

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Best Electric Cars 2015 – The government should scrap Tax Insurance Premiums for electric vehicles according to the consumer’s website, after which emerging covers can cost up to 60 percent more than equivalent gasoline equivalents.

Pure electric cars carry a hefty premium when it comes to comprehensive cover data from Honestly showing John and can often cost riders hundreds of pounds more a year.

Best Electric Cars 2015

It came after the latest industry figures revealed a three percent drop in the number of pure electric car registrations compared to last year.

And Powell, of Honest John, said: ‘If the Government is serious about bringing more people into a pure zero-emission electric vehicle, rather than a plug-in hybrid, then there needs to be a decisive action.

‘And the government itself holds that key. If it removes IPT from pure electric vehicles, then the premiums will go straight down and this will increase the incentive for buyers to exchange their diesel or gasoline for pure electricity. ‘

IPT is a tax on general insurance premiums that bring about £ 4.8 billion into treasury cash each year.

Last year Chancellor Philip Hammond raised taxes from 10 to 12 percent, the third increase in less than two years.

Costs are often added to the bill instead of being sucked by the insurance company.

There have been several calls to make certain groups freed from IPT since the hike, including charity and blackbox products for younger drivers.

After receiving a complaint from John Honest readers, the website analyzes the market to see what the average driver can expect to pay for a comprehensive 12-month policy.

A testing quote on similar models and car manufacturers from comparison sites Confused finding a driver aged between 30 and 55 who has no automotive beliefs could expect to pay £ 567 for a comprehensive policy on gasoline, £ 607 on diesel and £ 751 on electric vehicles.

Running the same quote for drivers aged under 25 reveals that the average annual insurance policy would cost 1.484 for petrol cars, £ 1,592 for diesel and a whopping £ 1,854 for electric vehicles – nearly £ 400 more.

Another quote found that a 35 year old accountant who lives in a city with five years no claims can expect to pay £ 247 when it comes to insuring Renault Clio 2015 gasoline.

An equally comprehensive complete quote for the same company Zoe Electric is £ 395 – 60 percent higher than Clio, despite the fact that both are similarly priced.

And Powell adds: ‘Until people actually live in electric cars, there is the perception that having someone come by compromise.

‘Many of these compromises have been dealt – electric vehicles have good reach, are fast and easy to charge and are cheaper to buy, but the government and the insurance industry do the future of electromobility no help at all, and this is something that needs immediate change. ‘

Technical Director of Axa Insurer David Williams argues that the exclusion of IPT may not really increase the demand for electric cars.

“The question is whether the reduction will be enough to persuade more people to buy electric vehicles, and that I’m not sure of,” he said.

“While the difference in premiums can be substantial, the premium table shows that insurance still represents a relatively small proportion of overall cost of ownership.”

Williams says that the reason electric cars are more expensive to be insured is mostly down to the cost of repairs compared to their gasoline counterparts.

“The batteries, for example, are a big part of vehicle costs, and it’s not safe to ‘fix’ them the way you can a gasoline engine,” he said.

“It says, costs have decreased as volume increases, and more improvements can handle this vehicle, which increases competition and reduces overall costs.

“We will welcome any initiatives that encourage wider adoption of electric vehicles, but we are not convinced that alienating them for IPT exemption will be the best way to accelerate this.”

Government plans may mean only new and hybrid electric cars with ‘significant zero emissions’ capability to be sold in the UK from 2040.

Road to Zero plans say they expect ‘almost all cars’ to be zero emissions by 2050.