EVs are not only turning the car industry on its head; they're shaking up the insurance world, too.
There are fundamental differences between insuring an EV and a traditional internal combustion engine (ICE) vehicle.
Let's talk about repairs first. Unfortunately, EV batteries and repairs come at a cost. In fact, fixing an EV can cost 30-35% more than an ICE vehicle. Driving up costs are the specialised skills needed to do the job.
Then there's the actual insurance coverage. EV policies often include extras you won't see in a typical ICE policy—like protection for your battery in case of theft or damage and coverage for lost or damaged charging cables. These add-ons reflect the unique needs of EV owners.
From the insurer's perspective, though, EVs are still a bit of a mystery. With less historical data to draw on, evaluating risk is trickier, leading to higher premiums. While EVs have a different safety profile, their rapid acceleration and quiet motors are also risks.
As the EV market grows, insurance companies are starting to adapt, with some even developing EV-specific products. And big players like Tesla are diving in, offering their own tailored insurance plans. It's an evolving space with plenty more changes to come.
Here, EV Magazine takes a look at the top 10 EV insurers.
10 | LV= (Liverpool Victoria)
CEO: David Hynam
Founding: 1843
Employees: 5,700
Liverpool Victoria, or LV=, stands as one of the UK's largest and most established insurance companies, with roots tracing back to 1843.
Over the years, LV= has diversified its offerings, providing car, home, pet, travel and life insurance. Recognising the rise of EVs, LV= launched the UK's first dedicated EV insurance product in 2019, tailored specifically for electric car owners. The product includes unique features, such as coverage for charging cables, battery protection and access to specialist repairers.
In 2024, LV= introduced ElectriX, a platform offering EV leasing, home charging solutions and insurance to support the transition to electric mobility in the UK.
9 | Churchill
CEO: James Bradley
Founding: 1988
Employees: 4,500
Since its founding in 1989, Churchill Insurance, part of Direct Line Group, has become a prominent UK insurer, recognisable for its nodding dog mascot. Adapting to market shifts, Churchill offers tailored insurance for EV and hybrid owners, meeting the unique demands of these drivers.
Churchill’s EV insurance provides comprehensive vehicle coverage, including batteries (whether owned or leased), protection for charging cables and home chargers against damage, fire and theft, as well as coverage for charging-related accidents, including third-party claims if someone trips over a cable.
Through a partnership with DriveElectric, Churchill offers EV salary sacrifice insurance, supporting businesses in providing EV packages for employees. Additionally, Churchill Expert offers fleet insurance for commercial EV fleets, ensuring flexible and customised protection as businesses adopt electric mobility.
8 | Direct Line
CEO: Adam Winslow
Founding: 1985
Employees: 10,200
Direct Line, a prominent UK insurance provider, offers a broad array of products, including car, home, pet and travel insurance.
To support the growth of EVs, Direct Line has introduced specialised insurance services tailored for EV owners. Coverage includes comprehensive protection for electric and hybrid vehicles, battery coverage (owned or leased) and safeguards for charging cables, wall boxes and adaptors. Unique to Direct Line, coverage extends to accidents while charging, including third-party claims.
Partnering with Zoom EV, Direct Line provides additional benefits like discounted public charging, home charger installation and EV-friendly energy tariffs. Through these innovations, Direct Line supports both individuals and businesses transitioning to sustainable, electric transportation in the UK.
7 | Zurich
CEO: Mario Greco
Founding: 1872
Employees: 60,000
Zurich Insurance Group, a leading global insurer since 1872, has adapted its services to support customers transitioning to EVs.
Zurich offers specialised EV insurance, covering individual drivers and businesses with electric and hybrid fleets. Key features include comprehensive protection for vehicles and batteries (owned or leased) and coverage for charging equipment against damage, fire or theft. Additionally, Zurich covers incidents during vehicle charging, including third-party claims and provides access to expert EV repair networks.
For small fleet owners, Zurich's SME motor policies offer like-for-like EV replacements and green parts options through a partnership with Synetiq, promoting sustainable practices in repairs.
6 | Admiral
CEO: Milena Mondini
Founding: 1993
Employees: 11,000
Admiral, a leading UK insurance provider founded in 1993, is recognised for its innovative insurance solutions, including specialised coverage for EVs to support sustainable transport.
Its EV insurance addresses electric and hybrid vehicle owners' unique needs, offering battery protection (owned or leased), coverage for charging equipment against damage and out-of-charge recovery for fully EVs. Additional support includes a 24-hour EV helpline and coverage for incidents occurring during vehicle charging.
In partnership with Zap-Map, Admiral enhances its EV services with tools like a cost-savings calculator, a journey cost estimator and a charging point locator. These services facilitate a smoother transition to EVs, contributing to the UK's sustainable transportation goals.
5 | AXA
CEO: Thomas Buberl
Founding: 1816
Employees: 147,000
AXA, one of the world's largest insurance and financial services companies, has developed tailored insurance solutions to meet the rising demand for EV coverage in the UK.
AXA's EV insurance provides comprehensive protection for electric and hybrid vehicles, including battery coverage (owned or leased) and charging equipment like cables and wall boxes. Additionally, AXA covers accidents during charging, including third-party claims, and offers access to approved EV repair specialists.
AXA incentivises EV adoption with an optional breakdown cover that includes recovery to the nearest charging station with 15-25% premium discounts. Support services include coverage for home charging stations, battery health certification and exclusive offers with providers like Swisscharge, positioning AXA as a key player in facilitating the shift to sustainable transport.
4 | Aviva
CEO: Amanda Blanc
Founding: 2000
Employees: 25,500
Aviva, one of the UK's largest insurance providers, has introduced specialised services to support the transition to EVs as part of its sustainability commitment.
The firm's EV insurance offers comprehensive coverage, including protection for batteries (owned or leased) and charging equipment, as well as free roadside towing to the nearest charging station up to five times a year.
Aviva provides a £2,000 subsidy for upgrading to an EV after a total loss and offers premium discounts of up to 10%. Additionally, it has launched dedicated insurance for EV charging points, covering risks like fire, flooding and accidental damage for businesses. What's more, the "Aviva Zero" carbon-conscious policy offsets the first 1,000 miles of carbon emissions from the insured vehicle.
Aviva supports sustainable mobility through these initiatives while addressing EV owners' unique insurance needs.
3 | The Allianz Group
Chairman of the Board: Oliver Bäte
Founding: 1890
Employees: 157,000
The Allianz Group is a global leader in insurance and asset management. It operates in more than 70 countries and is adapting to the automotive industry's shift towards EVs with specialised insurance products tailored for EV owners and fleet operators.
Allianz's EV insurance coverage includes comprehensive protection for electric and hybrid vehicles. It specifically addresses battery coverage for both owned and leased models, third-party liability during charging and protection for EV accessories such as cables, connectors and wall boxes at insured premises or employees' homes.
Recognising the evolving needs of fleet electrification, Allianz offers flexible solutions for both small (4–14 vehicles) and large fleets (15+ vehicles), with future-proofed policies covering automation and connectivity. Partnering with risk management experts like DriveTech and Lightfoot, Allianz provides driver training for EV operation and real-time coaching technology and uses green parts for environmentally-friendly repairs.
Through these efforts, Allianz is committed to supporting sustainable electric mobility and meeting EV drivers' and fleet operators' specific insurance needs.
2 | Ping An Insurance Group
CEO: Michael Guo
Assets under Management: US$143bn
Founding: 1988
Employees: 289,000
Ping An Insurance Group, a leading financial services provider in China, has expanded its offerings to meet the needs of the growing EV market. With insurance, banking and investment subsidiaries, Ping An has adapted to the automotive shift toward EVs by developing specialised insurance products through Ping An Property & Casualty.
Ping An's EV insurance includes comprehensive coverage for electric and hybrid vehicles, protecting key components such as batteries (owned or leased) and covering charging-related accidents, including third-party liability if someone trips over a charging cable.
It offers protection for charging accessories like cables, wall boxes and adaptors against damage, fire and theft, with access to a network of repair specialists.
To support the EV transition, Ping An leverages historical data to improve EV risk assessments and partners with automakers to study EV-specific risks. Additionally, its Ping An Auto Owner app, with more than 218 million users, integrates AI image recognition for efficient claims processing, enhancing accuracy and reducing fraud.
Through these initiatives, Ping An actively supports electric mobility in China, addressing the unique insurance needs of EV owners.
1 | esure
CEO: David McMillan
Founding: 2000
Employees: +1,500
esure, a leading UK insurance provider, has expanded its offerings to meet the needs of the rapidly-growing EV market. With comprehensive coverage designed for both electric and hybrid vehicles, the business demonstrates a clear commitment to supporting sustainable transportation.
esure's EV insurance includes essential protections like battery cover for owned and leased batteries against accidental damage, fire and theft. Charging equipment is safeguarded with coverage for power cables and incidents related to charging, including third-party claims if someone trips over a cable. The company's network of approved repairers specialises in EV repairs and policyholders receive a courtesy car, either electric or hybrid, during repairs.
To alleviate range anxiety, esure partners with the RAC to assist if an EV runs out of charge, providing a tow to the nearest charging point. Additional benefits include coverage for in-car equipment, new car replacement for vehicles under a year old and up to 90 days of driving coverage across the EU and select European countries.
Through these offerings, esure supports EV adoption with insurance tailored to the unique needs of EV owners.
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