Which insurance to choose for an electric or hybrid vehicle?

Rising fuel prices and environmental issues are prompting some French people to turn to electric or hybrid vehicles. However, in terms of car insurance, what offers are suitable for this type of equipment?

While the French car market is having a complicated year in 2022, with an 8% decrease in registrations, as François Roudier, spokesperson for the Automotive Platform, points out that electric and hybrid cars are gaining land. As proof, the year 2021 even made a record signing in this area. According to Avere (National Association for the Transition of Electric Vehicles), this sector has seen an amazing increase in sales, with almost 316,000 electric and plug-in hybrid vehicles registered, an increase of 62% compared to 2020 and 355% Within two years.

Motorists attracted by electric and hybrid vehicles

For several years now, the automotive sector has been able to reinvent itself, by offering ecological alternatives, for a more efficient transition from the gasoline model to the electric one. If the electric car runs entirely thanks to its (electric) motor and only needs to be recharged at a dedicated terminal, the ‘hybrid’ model is the compromise between the conventional and the electric car. This is the perfect example of a smooth transition for a driver wanting to switch from an internal combustion engine, petrol or diesel to electric.

Why choose electric or hybrid?

Emits less CO2, produces less waste… Environmental issues in terms of cars do not need to be proven. From January 1, 2022, vehicles consuming more than 128 g/km of CO2 are penalized with an ecological Malus, which can amount to up to 40,000 euros. Also, the introduction of ZFEs, “Low Emission Zones” in the territory and the introduction of vignettes, should in particular allow the reduction of the presence of polluting vehicles. From January 1, some cities will see the loss of category 4 or 5 or unclassified cars, according to the “Crit’Air” standard, introduced by the government. Finally, the popular ecological bonus for the purchase of an electric vehicle represents an aid for those who choose electric or hydrogen cars with a value of less than 47,000 euros. There are many arguments to encourage motorists to go electric. And the cost of insurance is no exception.

Electric car: which insurance to choose?

Car insurance: electric, cheaper than thermal?

When buying a car, getting car insurance is mandatory. With an average increase of 3% in car insurance at the end of 2022, the average annual cost is estimated at 630 euros per car, according to a study. Assurland. And you will be pleasantly surprised to know that insuring an electric vehicle is cheaper as the average annual cost is estimated at 562 euros, a gain of 11%. This difference is specifically explained by the exemption from the TSCA tax for policyholders of an electric vehicle purchased before December 31, 2023.

Which formula is most appropriate?

If you plan to buy an electric or hybrid vehicle, the question of car insurance is inevitable. Allianz, the world’s leading insurance brand, offers suitable formulas and works with a network of partners and repairers authorized to manage these electric vehicles. In terms of insurance, the specialist offers several formulas:

• A third-party formula that includes important guarantees,
• A more complete intermediate formula, it includes almost all guarantees, except the guarantee Damage in all accidents,
• An all-risk formula: fully adapted to power consumption.

Although these formulas have the usual guarantees (driver guarantee of up to €500,000, 25 km assistance in case of breakdown, etc.), the all-risk insurance remains the most comprehensive. It pays you in the event of an accident and covers all damages incurred, be responsible, and this, if your vehicle is damaged. More expensive to buy than a conventional thermal car, an electric or hybrid car nevertheless allows significant savings to be made in the long term, both in its maintenance and when taking out car insurance.

Sources : france, Information on France

This content is produced in collaboration with Allianz. BFMTV editorial staff did not participate in the production of this content