The law establishes that the owners of any motor vehicle are required to have insurance, at least civil liability insurance, which is what we know as third-party insurance. This is the most basic insurance, since it covers material and personal damage that the insured vehicle may cause to third parties, but not its own. Other types of insurance may include additional coverage, such as personal injury, theft or fire, offering a broader level of protection, and are more expensive.
Therefore, one of the unavoidable expenses that comes with owning a car is the insurance premium. A cost that varies depending on the motorization of the vehicle, as revealed by a study carried out by the Organization of Consumers and Users (OCU).
After analyzing 23 comprehensive car policies, with and without deductible, the OCU ensures that the insurance of a medium plug-in hybrid car is 15% more expensive on average than that of a gasoline engine car of similar price and performance. In the case of an electric car with similar performance, the extra cost reaches 17% on average, according to the report.
To carry out the study, the OCU chose three cars, one gasoline (Seat León The driver’s profile corresponds to that of a person with more than 10 years of driving experience and a history without accidents.
The OCU considers that the extra price of the insurance policy for an electric car could be explained by the high cost of repairing the batteries in the event of an accident, which for a long-range car could reach 30,000 euros. In addition, it must be taken into account that it is often necessary to replace them with new ones or that the insurer itself could prefer a claim declaration that avoids their replacement.
However, the OCU estimates that the extra cost for a non-plug-in hybrid is “not justified,” since its battery is smaller and therefore considerably cheaper (around 1,000 euros). However, the association emphasizes that other factors could come into play, such as the estimated frequency of accidents or the greater or lesser risk of causing damage to third parties.
The OCU study notes enormous price differences in the premiums for the same comprehensive automobile analyzed. In the case of an electric car, these deviations vary between 400 and 1,700 euros depending on the insurer. The Zurich Klinic company stands out as one of the few that does not penalize hybrid and electric cars in its comprehensive policies without excess. Among all the comprehensive insurance policies with a deductible of around 300 euros, the Liberty policy stands out for its good value for money.
The OCU remembers that insuring a car at all risks is the most convenient option for a newly purchased car and that after a few years it is usual to take out third-party insurance with coverage for windows, fire and theft, which is cheaper. This type of insurance usually includes travel assistance, legal protection with criminal defense and damage claims, as well as extended civil liability coverage.