For electric cars, just like for combustion-engine vehicles, only liability insurance is required by law. But does special insurance cover make sense for electric cars? The answer is without a doubt “yes”. Because there are some specific risks with electric cars. 

A type of damage that is widespread and annoying with combustion-engine vehicles but can be repaired with manageable effort is damage caused by martens. With electric cars, however, the high-voltage cable or even the entire cable set may have to be replaced after a marten bite. The repair can cost several thousand euros. Similarly high damage costs can also be incurred by a short circuit or an overvoltage, such as a lightning strike. At the start of the electric car era, these not uncommon types of damage were insured for a maximum of EUR 5,000 – the sum insured for some tariffs is now up to EUR 20,000. 

Extinguishing a burning car with electric drive is very difficult, time-consuming and costly, not least due to the necessary disposal of contaminated extinguishing water. Adequate insurance cover in the event of a potential fire in an electric car protects you from these high costs.

The perceived danger of vehicle fires in electric cars has been partially allayed: contrary to some sensational media reports, there is no higher fire risk of electric cars in direct comparison with combustion-engine vehicles.

Let’s come to the most valuable part of an electric car: the battery. The battery accounts for around a third of the purchase costs of an electric car. Damage to this can result in costs totalling up to EUR 21,000. In many cases, the electric car battery is insured through the manufacturer. Additional insurance is therefore not always necessary. However, the manufacturer’s warranty usually does not include any costs incurred for a battery condition diagnosis, e.g. in the event of declining performance. A service that can cost over EUR 1,000.

A relatively new form of damage is theft of the charging cable during the charging process. Although the cables are now well secured, this danger cannot be completely ruled out. The risk should therefore be taken into account in the insurance coverage. Insurance cover also makes sense for your own wallbox at home. Incorrect operation during charging as well as damage due to a vehicle fault or vandalism at freely accessible charging stations should be covered.

If an electric car breaks down or has an accident, towing is much more difficult than with combustion-engine vehicles. Improper towing can lead to short circuits. And there is a risk of damage to the battery. Towing costs are usually not covered by the motor insurance; as a rule, an additional insurance policy must be taken out for this.

Electric cars are still a significantly higher investment than comparable combustion-engine cars. There are also some special risks of damage. This is why fully comprehensive insurance with all-risk cover is advisable as electric car insurance. This is also because many insurance companies offer particularly attractive rates and conditions for electric cars.

Are the insurance fees for electric cars higher than for vehicles with combustion engines? In 2023, the comparison portal Verivox evaluated the insurance costs of five popular electric cars and comparable vehicles with combustion engines. The result: 80 percent of electric cars can be insured more cheaply than petrol or diesel cars. Savings of up to 25 percent per year are possible.