With an increasing number of consumers looking to insure electric cars, the insurance market is responding with many providing specific benefits that relate to these vehicles. Now a pioneer of this market has been identified by Defaqto.
Using its independent and impartial methodology to research EV insurance providers and analyse the market, Admiral Insurance has been named a Defaqto Trailblazer. The new Trailblazers recognition highlights providers and products in general insurance and financial services that demonstrate innovation.
Admiral, and its other brands – Bell, Diamond, Elephant, and Ford Insure – have been recognised for innovation including ‘out of charge’ cover within its ‘core’ comprehensive car insurance offering.
This benefit provides a recovery service where if the insured electric vehicle completely runs out of charge, subject to policy exclusions it will be recovered to a location of the policyholder’s choosing. This includes to the nearest charging point, the policyholder’s address or another destination. The benefit is available in the United Kingdom.
An ‘out of charge’ benefit is included in less than 10% of products within the standard comprehensive car insurance market. The service is not subject to a consumer paying any policy excess or losing their no claims discount. Therefore, if a consumer runs out of charge they can now simply call their insurance provider for assistance.
Mike Powell, Insight Manager for Banking and General Insurance at Defaqto, commented: “Admiral and its other brands are included within a small number of providers that offer this benefit. As a leading provider in the electric car insurance market Admiral can be considered a trailblazer in this space as it has clearly developed cover benefits and features for the electric car owner. Admiral also makes clear within its policy wording the additional benefits provided so a policyholder can see the cover offered and arrange assistance easily if needed.”
Stacey Last, Admiral EV Product Lead said “Admiral is one of the UK’s leading insurers of electric vehicles and we pride ourselves on providing competitively priced cover for EV drivers.
“We’re committed to looking out for our customers and supporting the transition to electric by offering insurance with specific and innovative benefits as standard for electric vehicles. We’re therefore delighted to be recognised by Defaqto as a ‘Trailblazer’ in the electric car insurance space.”