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Are you considering buying an electric car? Before signing that purchase agreement, there's a critical factor you need to understand that most dealers won't tell you about – insurance costs that could potentially be thousands of pounds higher than you're expecting.

I'm pulling back the curtain on a major financial trap awaiting unprepared EV buyers. When ordering an electric vehicle, most customers assume insurance premiums will be comparable to their previous petrol or diesel cars, especially if the EV falls into a similar insurance group. This dangerous assumption can lead to shocking discoveries just before taking delivery, when you're already legally committed to the purchase.

The Electric Vehicle Approved (EVA) accreditation scheme that's meant to ensure dealers provide proper guidance to EV customers completely fails to address insurance considerations. Meanwhile, insurance companies like AXA have conducted extensive testing revealing that electric cars are 50% more likely to have accidents than traditional vehicles, primarily due to what they call "overtapping" – when drivers panic and tap the accelerator, triggering the EV's immediate acceleration. High-performance electric cars with rapid acceleration are particularly problematic, with some insurers refusing to cover certain models altogether.

Real-world examples highlight the severity of this issue. One Tesla Y owner found himself facing a £5,000 premium when his previous insurer declined renewal – a staggering increase from the few hundred pounds he paid originally. Points on your license, particularly for speeding, can compound this problem dramatically when combined with an EV's risk profile.

The solution is simple but vital: check your insurance options and costs before ordering an electric vehicle, not days before delivery. The traditional insurance group system becomes largely irrelevant when comparing EVs to combustion engine vehicles, and assumptions based on previous experience will likely lead to unwelcome surprises.

Want to learn more about navigating the complexities of electric vehicle ownership? Subscribe to this podcast for upcoming episodes on critical EV insurance considerations, and visit grahamhilltraining.com to purchase my book "Electric Cars: The Truth Revealed" along with our upcoming comprehensive training course.

To buy a copy of Electric Cars - The Truth Revealed visit grahamhilltraining.com. If you are interested in sponsoring this podcast or would be interested in working together please visit grahamhilltraining.com/contact