Younger drivers are eager adopters of electric vehicles, but can they be insured on their own or added to your existing EV policy? Verity Hogan, Content Manager at Young Car Driver by Autedia, investigates
There are many reasons why a 17-year-old would want to drive an EV. Not only do they emit zero emissions, but they can also be easier to drive, equipped with advanced safety features, and cheaper to run.
In fact, these perks and more have led to drivers aged 18 to 24 being five times more likely to be an electric vehicle owner according to a recent YouGov survey. 78% of people in this age group agree that electric cars are the future of the motor industry.
But does young driver insurance for electric vehicles even exist?
The simple answer is yes. Drivers aged 17 and over must be insured before they can hit the road in their own car or someone else’s and EV insurance policies are available.
However, the important caveat to that is that they can be prohibitively expensive.
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Why is young driver insurance for EVs more expensive?
Car insurance for all drivers – especially those aged between 17 and 21 – is all about risk. The more risk the insurer perceives, the higher your premium will be.
Unfortunately, electric cars pose a higher risk than some petrol and diesel models for two main reasons:
- More expensive to buy: While EV prices are getting more affordable over time and used models are starting to become available on the market, an electric car is typically still more expensive to buy than its petrol equivalent. This places them in a higher insurance group.
- More expensive to repair: If a young driver does end up in an accident that results in your EV needing repairs, these can be more costly. Not only are the parts more expensive, but the limited number of mechanics who specialise in electric cars can lead to increased labour costs too.
These costs are compounded by the fact that younger drivers are more likely to be involved in accidents. The road safety charity Brake found that 1 in 5 drivers crash within a year of passing their test and over 1500 young drivers are killed or seriously injured on UK roads each year.
All these factors combine to produce pricey premiums for 17-year-old electric car drivers, even when you’re only adding them as a named driver to your existing EV policy.
How to get cheaper young driver electric car insurance
The good news is that there are steps you can take to make it cheaper to get a 17-year-old insured on your EV:
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Take out black box insurance
Black box or telematics insurance can be a good option for 17-year-olds looking for their first policy as it rewards them for careful driving.
There is an argument to say that electric cars encourage younger drivers to drive with more caution as they may be concerned with keeping speed low to conserve battery power.
The automatic transmission and smooth handling offered with EVs may also make it easier for a younger person to drive responsibly.
While black box insurance won’t be cheaper initially, your 17-year-old may earn a discounted premium if they prove they’ve driven carefully during their first year on the road.
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Choose a cheaper model
If you’re in the market for a new EV and want to add your teen as a named driver, you may save on insurance if you opt for a model that costs less than £20,000. It may also be more cost-effective to choose an affordable small car, either brand-new or used, like a Renault Zoe, Smart EQ Forfour, or a Volkswagen e-Golf, rather than a premium brand model.
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Increase your voluntary excess
Your excess is the amount you agree to pay towards a repair or replacement car before the insurance steps in to cover the rest. Generally speaking, the higher the voluntary excess, the cheaper your premium will be. However, make sure that the excess you choose is affordable and won’t stretch your budget beyond your means.
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Pay annually
If you can afford to pay your full insurance premium in one, this will often be the cheaper option than breaking it down into 12 monthly payments.
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Limit your mileage
The less time you spend on the road, the lower the chance you’ll be involved in an accident. While adding another driver onto your policy and giving them access to your car might ramp up the miles it clocks up, keeping your mileage to a minimum could help you save on your insurance premium.
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Enhance your security
The more secure you can make your EV, the better. If you can, keep it in a secure garage, install anti-theft devices, and park in well-lit places when out and about.
