Electric car insurance in Switzerland: the key to savings
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To insure an electric car, certain additional coverages can be useful. Contrary to popular belief, the premiums to be paid are not necessarily more expensive. In fact, many insurers choose to value the choice of a cleaner car, offering significant discounts. In this article, discover the compulsory and optional coverages for electric car insurance. Our advice and our selection of the best insurers in the field will also be of invaluable help.
Is there electric car insurance?
Secondly, there is no specific insurance for electric cars. They are therefore subject to car insurance contracts similar to any other car.
So we find the same compulsory coverages for policyholders. The insurer will be able to offer different levels of insurance, from simple third-party liability, to cover for collisions for which the insured is responsible.
On the other hand, it will be possible to take out certain cover specific to electric cars. This could include coverage for the battery or the charging station at home. Some insurers are among the pioneers, offering insurance solutions specifically adapted to this type of vehicle. Policyholders are even sometimes encouraged to invest in these more environmentally-friendly vehicles, thanks to premium discounts.
Coverages for electric car insurance
Here are the various coverages to which the owner of an electric car can subscribe. Some of them are unavoidable, and even compulsory by law.
Motor third-party liability
To be able to drive on Swiss roads, the mandatory level of cover is at least motor third-party liability. This cover provides compensation to third parties who suffer damage as a result of the insured.
In other words, if the insured is deemed responsible for an accident, the insurer will pay for any repairs to the car. It is also obliged to compensate victims, in the event of bodily injury or other material damage.
For someone with a small budget for a auto insurance electric car, it's possible to make do with this cover. However, it seems insufficient, given that electric cars are often recent models. A higher level of cover, allowing coverage for more different situations therefore seems in order.
Partial casco for an electric car
For electric car insurance, you can opt for what's known as partial casco. When a B driver suffers damage for which he is not responsible, he can be compensated. If another driver, called driver B, is responsible for the damage, it is driver B's civil liability that will be engaged to reimburse any damage caused.
In some situations, driver A is not responsible for the loss he suffers, but there is no driver B. For example, bad weather can damage a car's bodywork. The vehicle can also be stolen or vandalized.
The purpose of partial casco is to provide cover, should the insured be faced with this type of claim.
Collision casco for an electric car
Collision casco is a higher level of car insurance. With this coverage, the insured is covered, when he himself is responsible for a collision. When you only have third-party liability, it's the victims who are compensated, not the responsible party. With partial casco, the latter can eventually claim coverage for material and bodily damage suffered.
Car battery insurance
As an option to an electric car insurance contract, you can choose to insure your battery. This way, if the latter suffers damage, the driver can count on his insurer to finance repairs or replacement.
Some coverages also insure the battery in the event of loss of autonomy. Over time, the battery may not last as long. For the user, this can be problematic when making longer or shorter trips. Insurance can also cover deep discharge, overvoltage or even handling error.
The insurance company may also choose to anticipate battery failure, by reimbursing maintenance and technical servicing.
Charging station insurance
Many individuals with electric cars and homes choose to install a home charging station. Vehicle insurance can include insurance for this charging station. This way, if the charging station were to fail, or suffer damage, the insurer could participate in or fully fund its replacement or repair.
For some electric vehicle users, having a charging station at home is essential, so that recharging at outdoor charging stations is not a handicap on a daily basis. Having insurance on this equipment is therefore a real asset. Some companies, like Allianz, even commit to a claims handling time. This guarantees that the insured won't be out of bollards for a long time.
Other electric car insurance options
Certain car insurance options can be useful. For example, assistance seems absolutely essential in the event of a breakdown. It is indeed possible for a user to run out of battery, and need to be removed to a charging station.
Don't hesitate to ask your insurance company, about options that might be useful, as part of electric car insurance.
The price of electric car insurance in Switzerland
But then, for an individual wishing to change cars, it may be legitimate to ask how much does electric car insurance cost.
Calculating the electric car insurance rate
It's important to stress that the methods for calculating the car insurance premium are the same as for any other vehicle. The following will be taken into account:
- The car: make, model, power, date of first registration, value...
- The use of the electric car: number of kilometers driven each year, where it is parked, how often it is used...
- The driver: age, sex, place of residence, date of license, bonus or malus.
Is electric car insurance cheaper?
In very basic terms, electric vehicle car insurance is likely to be cheaper than a combustion car, because of power. The more powerful a car is, the greater the risk of loss the insurer may consider. In general, the power of electric cars remains moderate. On the other hand, for the same amount of power, rates are fairly similar.
How to find the cheapest car insurance?
If you're looking to find insurance for an electric car, there are a few tricks you can use to pay less.
Request several insurance quotes
Before anything else, it's absolutely vital to request quotes from several insurance companies. This not only allows you to compare rates, but also the coverages that are offered.
Having several quotes can also help you argue with an insurer to be able to negotiate the price of electric vehicle insurance.
To simplify this process, most insurers now offer online car insurance quotes. There's no longer any need to visit an agency or waste time on the phone.
The electric car insurance comparator
Many individuals also choose to rely on the efficiency of insurance comparators. By entering the characteristics of the vehicle, and information about the driver, it will be possible to obtain offers from several insurers.
Comparison is made easier, since it's very clear what cover is offered by each, as well as the amount of the premium.
It's very important not to focus exclusively on rates. Low prices can in fact hide important deductibles to pay or gaps in coverage.
The insured's profile influences the premium
The insured's profile can also strongly influence the price of car insurance for an electric car. So it's in your interest to be careful on the road, to not cause an at-fault claim. This avoids a malus, which can drive up rates by tens of percent.
The choice of vehicle
To find cheap electric car insurance, you can also focus on the choice of car. The cheaper the repairs that can be made in the event of a claim, the cheaper the insurance premium is likely to be.
For example, we can imagine that for a European car, with spare parts more readily available, the price will be lower. On the other hand, prestigious cars generally entail more expensive potential repair costs. It is therefore legitimate for insurers to apply a higher premium.
In short, for cheap electric insurance, it may be wise to look at a cheap electric car.
Our selection of the best insurers for an electric car
To help you in your selection of the best rate for electric car insurance, we have sifted through the offers of the most characteristic insurers on the Swiss market.
Axa: electric car insurance that covers your accessories
AXA is one of the insurers who are committed, around electric car insurance. You can take advantage of comprehensive cover, withexcellent value for money.
The company has also declined a whole range of cover specific to electric car insurance. In particular, you'll be able to take advantage of comprehensive coverage, concerning the vehicle's battery, whether due to user mishandling or loss of capacity.
AXA also offers insurance solutions for home and mobile charging stations that you can use for your car. In short, the company insures not only the electric car, but also all the accessories you may need.
TCS and its attractive prices
TCS is among the cheapest insurers, to insure an electric car in Switzerland. Competitive in many markets, it effectively offers a tailor-made contract, including the coverages you really need.
Concerning options specific to electric vehicles, the insurer offers the "Electra"additional cover. Here too, coverage is extended to all the accessories needed to operate the vehicle, such as the battery or charging station.
The insurer also undertakes to handle claims promptly. This is a real asset when a battery stops working and needs to be replaced.
Generali: the insurer that encourages the purchase of electric vehicles
Generali offers tailor-made car insurance solutions, ranging from simple third-party liability to full comprehensive. The advantage of this insurance is that it offers solutions that allow you to avoid paying high deductibles in the event of a claim.
On the electric vehicle side, the company seems intent on encouraging users to switch to non-thermal-powered vehicles. Indeed, new members will be able to take advantage of a 20% reduction on their annual premium for an electric car.
Allianz and its comprehensive protection
Allianz is one of the iconic insurers for those seeking comprehensive insurance. The solutions offered by this company are indeed likely to guarantee against all worries. If prices are higher than with some companies such as AXA and TCS, the quality of customer service, but also of cover, therefore seem to explain the differences in rates.
Moreover, for electric car owners, Allianz also offers a reduction in premiums. This can be as much as - 20% for new customers, on the full first-year premiums. Here too, the insurance company's commitment to the environment seems clearly on display.
Smile and its included cover
Smile is also committed, to drivers choosing electric vehicles with its eMobility formula. The brand has decided to include additional warranties, at no extra premium. To insure the vehicle, it will therefore be possible to take advantage of insurance for the charging station, charging accessories and also the vehicle's on-board computer. Any damage to the battery will also be covered.
While the insurance company is not particularly forthcoming about a reduction in premiums, for the insurance of an electric vehicle, its rates are already among the most attractive on the market.
Updated on: 30.01.2024Written by Antoine LégerHead of non-life insurance department at Comparea.To learn more about our team click here.