Electric vehicles (EVs) are becoming a more common sight on our roads. With the development of different types of electric and hybrid vehicles, sales of battery-electric vehicles rose by 9.8% in September 2024 across the European Union.
This growth has also touched Malta specifically, as data suggests there were 9.4% more electric vehicles during Q3 of 2024 than there were in the previous quarter. Alongside this development, charging points are also being established, with the government announcing a plan to install up to 1,572 by the end of 2025.
Some vehicle owners may not be certain about the different insurance options available for their vehicles. It’s always best to get the right insurance premium that’s personalised for your vehicle type, whether that’s an electric vehicle insurance policy or a more traditional motor plan, it’s helpful to know where to get online motor insurance quotes.
Contents
- What is electric vehicle insurance?
- How is electric vehicle insurance different from typical motor insurance?
- Why might you need electric vehicle insurance?
- Find electric vehicle insurance with GasanMamo.
What is electric vehicle insurance?
Essentially, electric vehicle insurance works in the same way as a traditional motor insurance policy. If you’re wondering how motor insurance works in Malta, the principles are quite similar. If you purchase an electric vehicle, you’ll want your insurance policy to cover liability for loss or damage caused to others as well as loss or damage to the vehicle itself with some, additional features that are specific to its electric technology.
There may be cover for the loss or damage that could occur to charging cables and adaptors.
Some policies could provide protection in the event of loss or damage due to a lightning incident that causes an electrical overload to the vehicle. Another interesting aspect to some electric vehicle insurance policies is coverage of the cost of battery disposal if the vehicle has been written off due to an accident.
How is electric vehicle insurance different from traditional motor insurance?
Just as your electric vehicle differs from a traditional car in several ways, insurance providers have adapted policy cover that aligns with these variations.
There are many unique considerations when it comes to EV insurance, such as:
Charging equipment
An EV owner can charge their vehicle at public charging stations or use their own charging station at home. If you have a home EV charging station, you may want to consider a policy that covers your charging equipment or look at adding this as an additional policy feature.
Battery coverage
As batteries are an expensive part of electric vehicles, some insurance providers can include cover for the battery if it becomes damaged. However, this can change from provider to provider, so check your policy before you commit if it’s something you want to include.
EV recovery
If your electric vehicle breaks down, it may need to be taken to a charging station to charge. If this is a feature you want in your EV insurance policy, research the plan terms and conditions to identify this requirement.
Why might you need electric vehicle insurance?
Typically, an electric vehicle insurance policy will cover the standard features you’d expect from any motor insurance premium, whether it’s cover for third-party injury and property damage or legal costs in connection with a claim.
Of course, a basic form of insurance is a legal requirement if you’re driving on public roads in your electric vehicle. A comprehensive insurance policy will provide protection for you against any liability you may be liable for or your EV is damaged as a result of an accident
A major reason why you need a particular policy if you have an electric vehicle is that it’s different in some ways from a traditional car or van. There are parts of your EV that need a specific type of coverage so that if there’s a problem, you can get these fixed, or replaced or gain advice about the next steps.
Find electric vehicle insurance with GasanMamo
Being Malta’s experienced and knowledgeable vehicle insurance specialists means you have access to a wealth of advantages. We listen carefully to your vehicle insurance needs and provide you with tailored guidance, support and proactive insurance policies.
If you have an electric or hybrid vehicle, we have everything covered. To make things easy and simple, you can insure your EV or hybrid vehicle under our Private Car policy that has specific cover for EVs included. It’s all you need to obtain a full cover for your electric vehicle.
This covers all of the features you expect in an EV insurance premium, including:
- Accidental loss or damage to charging cables and adapters.
- Loss or damage caused by an electrical overload due to lightning.
- Cost of battery disposal if your vehicle is declared a write-off following an accident.
Plus, our Roadside Assistance cover (automatically included with Comprehensive policies) means if you run out of power, you’ll be able to carry on driving.
If you want to find out more about our electric or hybrid vehicle insurance policy, why not get in touch for a friendly chat with our expert team? We’re always happy to help.
GasanMamo Insurance is authorised under the Insurance Business Act and regulated by the MFSA.
Photo: © vanitjan via canva.com
