According to one major Irish insurer, you can trim the cost of your car insurance by as much as 12 per cent by going for battery power next time out. It's just one of a raft of potential cost savings and government grants in place to try and convince people to switch to electric power. Jonathan Hehir, managing director of insuremycars.ie told CompleteCar: "Getting motorists to even consider migrating over to e-motoring means that the benefits and cost-savings, not just the environmental message, needs to be communicated effectively."
EV owners seen as safer bets
How come electric cars are cheaper to insure? Well, according to Hehir, it's a combination of insurers wanting to be seen to promote green products, and the fact that, based on the data, EV drivers tend to fall into safer categories.
"I believe insurers are giving a lower rate as a support for a greener environment, and on top of that they are looking at the drivers and potential purchasers of the electric vehicles (EVs) as good risks. This is probably true as the majority of the clients we have quoted are mature, have a full licence, and a full no-claims bonus."
Reduced running costs
"The benefits of reduced running costs and the reductions in tax gained by switching to EVs have been well publicised. However, many people are still unaware of the discounts to insurance premiums that going electric can bring and many drivers who do make the switch will see their premium reduced. Our company has negotiated a special discount of between 8 - 12 per cent for electric car drivers which, in tandem with the government grant of up to €10,000 for the purchase of the vehicle, can make switching to electric a more affordable and attractive proposal for motorists" said Hehir.
Public on board with EV discounts
Insuremycars.ie carried out a survey which, fairly unsurprisingly, found widespread public approval for measures such as toll road discounts for EV drivers (although there was a significant proportion, 23 per cent, who said that they were not in favour). Perhaps a concern is that more than a quarter - 28 per cent - of people didn't even know that there was a discount, which indicates that many still are not aware of the various EV discounts and grants.