Insuring your electric or hybrid vehicle: basics

AutoTrader NZ
Published 2 April 2021

As electric and hybrid vehicles become more prevalent on New Zealand roads, understanding how to insure these advanced cars is increasingly important. Here’s what you need to know about insuring your electric or hybrid vehicle.

Why is insurance different for electric and hybrid vehicles?

Electric and hybrid vehicles involve complex and expensive technology, particularly when it comes to their batteries and electrical systems. This can lead to higher costs for repairs and replacements compared to traditional vehicles, influencing insurance premiums.

What to consider when choosing insurance:

  1. Battery Coverage: The battery is the heart of your electric or hybrid vehicle and also the most expensive part to replace. Ensure that your insurance policy covers battery damage and replacement, which can be costly.
  2. Breakdown Coverage: Electric and hybrid vehicles may require specialized towing services and charging points if they run out of power. Look for policies that offer coverage for towing and roadside assistance that accommodates the specific needs of electric vehicles.
  3. Repair Costs: With more specialized components, electric and hybrid cars may need repairs from certified technicians. Confirm that your insurance policy doesn’t restrict where you can have your vehicle serviced.

Potential insurance benefits:

Many insurers recognize the environmental benefits of electric and hybrid vehicles and offer lower premiums or discounts for owners. Additionally, because these vehicles often come equipped with advanced safety features, insurers might provide further discounts based on reduced risk.

Final Thoughts:

Insuring an electric or hybrid vehicle in New Zealand requires considering the unique aspects of these technologically advanced cars. Look for an insurance policy that not only covers all the basics but also addresses the specific challenges associated with electric and hybrid vehicles. By doing so, you ensure your investment is protected while also supporting the shift towards a more sustainable future.

New Zealand Electric Car Insurers

Insurance CompanySpecial Coverage for Electric VehiclesAverage PremiumDiscounts for EV OwnersAdditional EV Benefits
AA InsuranceYes$650/yearYes (5% off)Battery coverage, free roadside assistance
State InsuranceYes$630/yearYes (10% off)Battery coverage, green vehicle discount
Tower InsuranceYes$620/yearNoIncludes battery and charging equipment
AMI InsuranceYes$640/yearYes (5% off)Specialized towing and repair services
Vero InsuranceYes$660/yearYes (7% off)Comprehensive battery and accessory coverage
NZIYes$610/yearYes (10% off)Customizable cover for EV-specific risks
2024 Insurance Companies that offer Specialised Electric Car Insurance