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Electric Vehicles - Do I have to buy one now?

Electric Vehicles - Do I have to buy one now?

Posted on 01/01/2024

Forces Mutual

Filed under Insurance

The quick answer to this is, no.

The UK Government has recently pushed back a ban on the sale of new petrol and diesel cars (and vans) from 2030 to 2035. This now means you can continue to purchase these engine types for an additional 5 years and of course used vehicles using those engines, after.

With this in mind, we thought it would be a good idea to give you a basic guide on alternative vehicles to petrol and diesel.

What is an Electric Vehicle (EV)?

The Parliamentary Office of Science and Technology official description is:

Electric Vehicles use electric motors to drive their wheels. They derive some or all of their power from large, rechargeable batteries. The distance an EV can drive between recharges is known as its range.


Which type of EV is best for me?

This is a personal choice and will be dependent on a number of factors including, affordability, the type and distance of journeys you make and charging infrastructure where you live.


How much do EVs cost?

Currently EVs cost more to buy than a comparable petrol or diesel vehicle. While they have less mechanical parts than a conventional vehicle, battery prices are a substantial cost. Many modern EVs use lithium-ion batteries and it takes a lot of time and effort to turn raw lithium into something that can be used. Some manufacturers offer incentives and lease plans for the battery, so include this is your car purchase research.

As EVs become more popular and manufacturers produce more vehicles and models, plus technology improvements, prices are anticipated to reduce.


Vehicle range

While vehicle range isn’t an issue with hybrids, as they will run on petrol and diesel, in addition to electric, according to  most modern electric cars can go for well over 100 miles between charges, with many of the latest cars having a range of around 250 miles. Of course, some of this will be reflective of the driving conditions, roads and the way you drive, plus use of aircon and technology within the vehicle.


Charging points

The term “range anxiety” describes a very real fear of running out of battery and knowing where to charge it up.

While you can have a charger fitted at home, clearly there will be times when you need to recharge when out and about.

The good news is that, the number of charging points is increasing. According to zap map the number of charging points grows by the day and at the end of October 2023, there were 51,516 electric charging points across 30,360 charging locations (UK only). This represents a 45% increase in the total number of charging devices since October 2022.

In October 2023, 1,634 new charging points were added to the Zap-Map database. You can view local ones to you or your journey at zap map live – you might not have even known they were there!


What about insuring your EVs

Do I need specialist insurance?

The simple answer is no. Whilst you can buy specialist insurance for your EV, most major insurers now cover electric cars.


Does it cost more to insure an EV?

This can depend on the EV you choose. According to More Th>n (a trading name of Royal & Sun Alliance Insurance Ltd), Insurance may be more costly in some cases.

They point to this being linked to expensive parts, but higher repair costs and the availability of garages with qualified mechanics, are also a factor. While electric cars have fewer moving parts than petrol or diesel vehicles, some components like the lithium-ion batteries are very expensive to repair if damaged.

As EVs become more commonplace this may change, but also remember that electric cars may benefit from other savings, such as congestion charges and zero vehicle road tax, but it is worth noting that from April 2025, EVs will pay vehicle road tax.

Car insurance from Forces Mutual

Forces Mutual Car Insurance offers policies for a range of EVs. You don’t need to buy a special EV policy and you can get a quote in the usual way.

You can either call us on 0151 363 5290 or go online at

Forces Mutual Car Insurance is provided by ERS.

PMGI Limited, trading as Forces Mutual is authorised and regulated by the Financial Conduct Authority. Financial Services Register No. 114942. Registered in England & Wales No.1073408. Registered office: Brookfield Court, Selby Road, Leeds, LS25 1NB. For your security, all telephone calls are recorded and may be monitored.

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