At Coversure, we are starting to see a steady increase in the number of requests for fleet insurance quotes for small fleets of electric vehicles (EV). As we’ve highlighted in our recent posts, the increase in electric vehicle models, decreasing prices, and increasing technology is making all-electric fleets more viable every day.
Frazer Lewis, Director of Coversure Kidderminster said:
‘The majority of motor fleet insurance business we write is for those companies who have 3-5 vehicles. In recent times, we have noticed a shift in emphasis for those businesses in this sector when they look to add or replace a vehicle. The government has, during the last few years, gradually taken a number of subtle steps to make the purchase and ongoing costs for electric vehicles an extremely attractive option. In contrast, they have also started penalising high-emission vehicles and allowed councils like Birmingham to introduce Clean Air Zones.’
‘Advancing technology is also playing a major part in their adoption. In the past, the charging times on these vehicles was seen as a hindrance. However, the manufacturers are now racing against each other to show that they can provide electric vehicles with a range of around 200 miles, which would ensure they could reach a charge point – especially as these are becoming increasingly common. The technological advancement in EVs has made the purchase of these vehicles a viable consideration for the first time.’
‘Small business owners have not been slow to pick up on this. We have received an increased number of enquiries from both existing and new customers looking for advice on electric vehicles and how this could impact their motor fleet policy. Insurers can typically be slow to react to changes happening around them, such as the surge of interest in electric vehicles, however, we have established firm arrangements with a panel of insurers that will rate and price the insurance cover on these vehicles competitively.’
‘We believe that this market will continue to grow as the world starts to take vehicle emissions more seriously. Insurers and their broker partners need to respond to this and be in a position to make the suitable, cost-effective arrangements on these vehicles as simple as possible. We are confident that we will be able to help clients looking at these vehicles and we will continue to respond and adapt as the motor industry does. One thing we can be certain of is that electric vehicles are the future; and they are fast becoming the present too.’
Like Some More Help?
If you would like to know more about getting affordable cover for an electric fleet vehicle, then please contact us. You can call the Coversure Kidderminster team on (01562) 822664, email us by clicking here or request a no-obligation quote here