IGA News

Hybrid/electric vehicle insurance cost clarification

Hybrid/electric vehicle insurance cost clarification

28 June 2019

The IGA has heard that some garages are being told by insurers that their insurance cost will go up if they work on hybrid/electric cars. However, after investigating we have found no evidence of this.

Automotive insurance broker Gallagher contacted some the UK’s major motor trade insurance companies on behalf of the IGA. They received responses from Allianz, Travelers, Axa, NIG, Aviva and Markerstudy stating that they have no specific exclusions in respect of electric/hybrid vehicles, nor are there cost implications.

Although there is no reason this class of vehicle should be excluded from policies bearing in mind their growing popularity, if an incident occurs while working on a hybrid/electric car you should expect your insurance provider to ask if the technician involved was qualified to work on that type of vehicle.

If you have been told any different by your insurer, or have any further concerns, please call us on the direct member helpline or 0845 305 4230.

Gallagher is pleased to provide MOT Loss of Licence cover as standard for any RMI member with an authorised MOT centre taking out an Allianz insurance package, available to RMI members when you purchase an Allianz Motor Trade Policy from Gallagher via the RMI. Find out more about this exclusive offer here.

Arthur J. Gallagher Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority. Registered Office: Spectrum Building, 7th Floor, 55, Blythswood Street, Glasgow, G2 7AT. Registered in Scotland. Company Number: SC108909. www.ajg.com/uk.