There's still too few EVs on the road, making it difficult for us to guess whether the costs will be lower or higher than the equivalent internal combustion vehicle. Other questions arise such as: What would drivetrain components cost to replace? Will there be a shortage of parts? Before we all start going around in eco-friendly machines, we need to be able to answer these questions, lifting uncertainty from this area of interest.
But for now, let's focus on insurance, as there might be some good news on the horizon though. For example, UK-based finance company Credit Plus has suggested that the 2011 Nissan LEAF will be cheap to insure, basing its assumption on several factors.
Firstly, Nissan offers an eight-year, 100,000 mile warranty on many of the Leaf's vital electrical components. This means that the manufacturer will cover more costs and the insurer assumes less risk.
The Leaf has a limited driving range, meaning that it will be driven less than a conventional car. This significantly reduces the likelihood of it being involved in an accident.
Chances are that the Leaf will be driven in a more relaxed manner, in an effort to conserve battery energy, making the driving experience less risky both for the driver and the insurance company. The Leaf also seems to appeal to a different type of customer, one that is more educated and cares about the vehicle he or she drives.
We believe that the reason for reduced insurance premiums is less important, as long as insurance companies think you're less likely to have an accident in an electric vehicle.