Insurance for electric cars

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The country’s vehicle fleet already represents 2% according to the Spanish Association of Automobile and Road Manufacturers (ANFAC). This new scenario confirms that electric vehicles are increasingly present in the Spanish automotive market. To discuss electric car insurance, we will briefly explain the current situation of the electric car market.

In 2020, the Ministry of Economy, Industry and Competitiveness predicts that Spain will triple the number of electric vehicles compared to 2017. That is, it is estimated that there will be 110,000 electric vehicles in Spain.

To reach this figure, the electric industry will need to achieve an annual growth of around 50%, as confirmed by Cros during his speech at the IV Europel Congress of Electric Vehicles, organized by the Business Association for the Development and Promotion of Electric Vehicles (AEDIVE).

However, there are still many drivers who have doubts about acquiring an electric car, one of the most common concerns revolves around electric car insurance.

Electric cars, like any other vehicle, need a policy to circulate on Spanish roads that guarantees at least the so-called mandatory civil liability, which covers material and physical damages that may be caused to other drivers or vehicles.

That is to say, the coverage of insurance for electric vehicles is the same as for combustion vehicles (and will depend on the type of policy contracted, whether third-party, extended third-party, or comprehensive).

Now, there are specific coverages for electric cars due to their particularities. For example, coverage in case of charging cable theft.

Another particularity when contracting insurance for an electric car is to have roadside assistance coverage; this option is necessary in case the battery of our electric car fails or simply runs out of charge.

The third particularity to consider is to check the number of annual assistances contracted; it is advisable that it be unlimited, as we remember that in Spain, public charging points are still somewhat limited, and drivers may encounter autonomy issues.

Below is a list of insurance companies that have adapted to the electric car market.

  • Catalana Occidente.
  • Mapfre.
  • Zurich.