EV Fleet Insurance

Electric vehicles are becoming increasingly popular within motor fleets. The benefits of EVs are clear, and transitioning to an EV fleet seems to be a no brainer for many fleet owners. 

Because of the unique risks associated with EV fleet transition, it’s important to get covered with a specialist EV fleet insurance policy, designed to protect your fleet of electric vehicles against all possible risks. 

What is specialist EV fleet insurance?

Specialist EV fleet insurance is a bespoke commercial product which covers two or more electric vehicles under a singular simple plan. It differs from traditional fleet insurance because it accounts for many unique and new risks/infrastructure which can be associated with electric vehicles.

This includes accounting for replacement battery costs, charging cables and more.

What EV fleet insurance covers

EV fleet insurance includes many of the same aspects as traditional fleet policies:

• Comprehensive damage – Covers repairs after an at-fault accident or vandalism. 
• Legal expenses – Covers the costs of recovering uninsured losses or if your business disputes fault. 
• Courtesy vehicles – Provides temporary like-for-like replacements for an EV undergoing repairs or maintenance.

It also includes some EV-specific coverage:

• Battery protection – Covers the cost of repairing or replacing a damaged, broken or faulty battery. This is important because EV batteries can require specialist and expensive repairs and replacement parts. 
• Charging equipment – Accidental damage, vandalism or theft of portable charging cables, wallboxes and fixed depot charging infrastructure. 
• Third-party charging liability – Provides protection against claims or property damage while an EV is plugged into a home charger or public station.

It’s important to note that the protection level of each policy varies based on the needs and requirements of your business. Naturally, more comprehensive coverage types will be more expensive than basic packages.

Who benefits from comprehensive EV fleet insurance

Comprehensive EV fleet insurance primarily benefits business and fleet managers who are transitioning to electric vehicles no matter whether it’s for delivery and courier services, haulage firms, delivery drivers, or any other type of fleet. 

It provides protection and peace of mind that your business model is protected.

Custom fleet insurance for electric vehicles

Choose FleetCover for custom fleet insurance for your electric vehicles. We offer bespoke policies which can be tailored to meet your exact needs: nothing more, nothing less. 

We offer essential features such as:

• Battery pack coverage
• Charging infrastructure, cable and connector cover
• Out of charge recovery
• Courtesy vehicles;

and a range of other forms of protection.

Why your EV fleet needs specialist cover

Your EV fleet needs specialist cover because electric fleet insurance is different from regular fleet insurance. It protects against unique components and risks associated with electric fleets, such as vehicle components, risk assessments, repair/maintenance and replacement vehicles costs. 

Failure to find specialist cover could lead to inadequate coverage which could be harmful to your business and/or fleet further down the line.

How to get an EV fleet insurance quote

Getting an EV fleet insurance quote has never been easier. All you need to do is fill out a quote form with FleetCover, and our experts will be in touch with you to discuss vehicle details, coverage level, driver history, risk management and all your specialist needs and requirements. 

After that, we’ll get back to you with a range of options, and can advise as to which suits your needs best, at the most affordable price. 

EV Fleet Insurance FAQs

Can you insure a mixed EV and petrol/diesel fleet?

You can absolutely insure a mixed EV and petrol/diesel fleet. These are often called hybrid or mixed-fleet policies. They include the standard features of petrol/diesel vehicles, as well as the unique requirements of EVs.

How many vehicles do you need to get EV fleet insurance?

EV fleet insurance can usually cover fleets as small as just two vehicles. Even for smaller fleets, a single policy covering all the vehicles under one plan is still much cheaper and easier to manage than separate coverage on each vehicle.

Is EV fleet insurance generally more expensive than standard fleet insurance?

EV repairs typically cost 30% – 50% more than standard vehicle repairs. This is because EVs require specialist diagnostic tools and repair methods. As a result, insurers build these increased costs into insurance plans.