Everything to know about electric van insurance

Electric vans are rapidly gaining popularity nowadays. Switching to an electric van can also help you get a grant of up to €3,500 from the Sustainable Energy Authority of Ireland. This is why various insurance providers have started providing cover for it.

What is electric van insurance?

Electric van insurance is a specialised policy, designed to protect your electric van from unforeseen events. Just like regular van insurance, it shields you from unexpected costs that might arise from accidents, theft, or other mishaps with your electric van.

How much does an electric van insurance cost?

Electric vans might have a higher initial cost compared to traditional vans, but they can offer long-term savings due to lower fuel and maintenance expenses.

With more and more people buying electric vans, most insurance providers are now offering electric van insurance.

The cost of electric van insurance varies based on multiple factors like:

• Brand
• Model
• Battery capacity
• Driver details
• Driving history

What does electric van insurance cover?

There are three distinct levels of electric van insurance coverage. Each of them offers a unique layer of protection.

What are the advantages of an electric van?

Electric vans have several advantages, for you as well as the environment. These include:

Eco-friendly: Electric vans produce zero tailpipe emissions, and help reduce air pollution and greenhouse gases.

Lower operating costs: Charging an electric van costs less than refuelling a traditional van with gasoline. Maintenance expenses are also typically lower due to fewer moving parts.

Quiet operation: Electric vans run silently, reducing noise pollution in urban areas.

Government incentives: Switching to an electric van makes you eligible for a grant of up to €3,500 by the Sustainable Energy Authority of Ireland.

Long-term savings: Despite higher initial costs, electric vans can provide significant long-term savings due to reduced fuel and maintenance expenses.

What are the disadvantages of an electric van?

While electric vans offer numerous benefits, it's important to also understand their limitations. Some drawbacks of an electric van are:

Higher initial cost: Electric vans often have a higher upfront cost compared to traditional vans.

Limited range: Some electric vans might have a limited driving range on a single charge, which could be inconvenient for long-distance journeys.

Charging infrastructure: Charging infrastructure is still limited to some areas, making it necessary to plan routes and charging stops.

Charging time: Fully charging an electric van can take longer than refuelling a traditional van with gasoline.

What are the benefits of an electric fleet for my business?

Shifting to an electric fleet can offer numerous advantages for your business. Some of these are:

• Cost savings: Switching to an electric fleet can lead to lower fuel and maintenance costs, contributing to increased profit margins.
• Environmental impact: Using electric vans helps reduce your company's carbon footprint and supports sustainability efforts.
• Positive image: Operating an electric fleet showcases your commitment to the environment, potentially attracting eco-conscious customers.
• Tax relief: Setting up an electric fleet for your business brings additional tax advantages:

Electric vans qualify for a 100% first-year capital allowance. This lets you deduct the van cost from your company's tax.

Employees pay less company car tax for electric vehicles, as they fall into a lower tax bracket.

Electricity isn't considered fuel for benefit calculations. This means savings on income tax when employees use work vehicles personally or charge their electric cars at their workplace.

Looking for electric van insurance?

In recent years, the world has become more environmentally conscious. This is why the automotive industry has shifted towards sustainability and electric vans have become more commonplace.

With Paddy Compare, you can insure your electric van with the best deal in the market. Get the cheapest electric van insurance which also suits your needs. Simply follow these steps: