ICE /EV Insurance question

[den9112]

Hi , i have be toying with the idea of leasing a EV and while looking i thought i would just check via a comparison website the difference in my ICE and a EV insurance ...My current car insurance is due to renew on the 23rd March at just over £400 now i know EV can be 25% and maybe more to insure so i thought i would put a couple of registration numbers of two cars i have looked at and get an idea .

The first car was a Leapmotor and confused .com would not give me a quote so i tried compare and i got quoted £900
Second car was a Vauxhall frontera and got quoted on both sites for this around the £400 mark .The only difference was the cars value the Leapmotor at £29k and the Vauxhall £15k so i presume thats why i couldn't get a quote on confused and a expensive one on compare .
i put the registered keeper and owner down as private lease just surprised at the price difference ...My question is if i renew my ICE then change to a EV lets say around May can i just cancel my existing insurance (if the quote for a EV is way more expensive on what i can get on compare ) and then go back on the comparisons websites .Thanks

[Uncle boshy]

A problem with the Leapmotor is that it’s a new brand and model so some companies aren’t insuring. Stellantis which sells both Vauxhall and Leapmotor have their own insurance available on a monthly rolling basis that you can cancel at any time, that might be one answer.

To your question, cancellation or change depends on the terms and conditions of your insurer.

[tigger1]

Very anecdotal, but I think there's been reports of people struggling with some insurers to get cover for Chinese EVs:

https://www.autoexpress.co.uk/news/369055/insurers...

[kambites]

No idea about those specific cars, but my wife's MG4 costs pretty much exactly the same to insure as the similarly sized, similar power Skoda Octavia it replaced.

I suspect the problem with these brands which are completely new to the UK market is that the insurers lack any sort of data to base their risk assessments on, so they either err on the high side or just refuse to cover the car entirely.

Edited by kambites on Tuesday 10th March 21:34

[Sheepshanks]

Daughter changed her SEAT Ateca to a new Gen 2 Kona EV three months into her policy with LV - she'd paid £450 on her Ateca and they took £600 more to change to a Kona. Next renewal Kona was £550.

I don't know what the refund would have been if she'd cancelled and got a new policy elsehwere but she's far too busy to bother herself with doing that, which I suppose is what they rely on.


You might know this already but it's said that looking at quotes 20+ days prior to the start date gets the lowest prices. I don't know if the same applies when changing cars - that might have caught us out just calling the day before to make the change.