Electric Vehicle Protection

electric vehicleAccording to heycar.co.uk, the electric vehicle market is booming with, “electric car sales increasing by 186% in 2020” and more electric vehicles selling in 2021 than ever sold during the previously combined 5 years before.

The demand for used electric vehicles is also growing with a 119.2% increase amounting to 40,228 second-hand electric cars being sold during 2021.

Electric Vehicle Facts

  • An electric car takes eight hours to charge from empty.
  • Most electric cars are compatible with ‘rapid’ 50kW chargers.
  • Throughout the UK, there are 33,996 public electric vehicle charging devices.
  • Currently, Scotland has the highest number of EV charging devices per population of 100,000.
  • In the UK, there were 39.2 million licensed vehicles recorded at the end of June 2021.

Finding the correct insurance support for electric vehicles

Within a reasonably new industry, some businesses are struggling to find the right insurance cover to meet their needs for electric vehicles. This especially applies when looking to insure vehicles under motor fleet policies. To meet this demand JRW Risk Solutions have sourced electric vehicle insurance policies to assist businesses to provide sufficient protection for their electric motor fleet portfolio.

Our policies include:

Vehicle Cover for all vehicle modelsJRW Risk Solutions can arrange cover on all types of electric vehicles, including commercial vans, private cars, trucks, lorries, HGVs, LGVs, forklift trucks, pickups, tippers and agricultural vehicles.

Gap Insurance – Should your vehicle be stolen, or declared a total loss after an accident, some motor insurers will only pay the current market value for your vehicle, which could result in the balance being less than what is owed to the finance company. In this situation, JRW Risk Solutions can offer a policy which provides protection with:

  • Combined Purchase Price Protection and Finance GAP (returns you to the original invoice price of your vehicle or clears your outstanding ­finance if the amount is higher)
  • Lease GAP (clears outstanding lease charges in the event of a write off and pays a contribution to the original rental deposit).

For more information on protecting your electric vehicle company fleet, please get in touch. Please note, that JRW Risk Solutions recommend that prospective electric vehicle buyers, contact our team before making a purchase, to double check the level of fleet insurance cover available to their business.

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