How to get cheaper insurance
We’re all experts on insuring our petrol bikes but what’s the score with going electric?
Sure electric bikes are cheaper to run in terms of their energy source than a petrol-powered vehicle and one of the benefits of an electric motor over an internal combustion engine is the lack of maintenance. But will you get whacked by insurance costs? Using online insurance comparison site MCN Compare (www.mcncompare. com), we looked at the comparative costs of covering an electric bike and its equivalent fossil fuel-powered motorcycle in a variety of scenarios.
The urban commuter
Aged 25, the urban commuter has held a clean provisional licence for one year with one year’s NCB and lives in a suburban area (we picked Croydon, CR0). The ideal electric bike would be a Super Soco TXS, which has an RRP of £2999 and costs £655.26 fully comp or £400.89 TPFT to insure. If he opted for a Yamaha YS125, which is £3074, he would be paying £1042.66 comp or £884.91 TPFT. So going electric almost halves the annual premium.
High-mileage commuter
Living in a more urban area (we picked Market Bosworth, CV13), the higher-mileage commuter is 45 and rides 50 miles each way to work and has a full licence and five years’ NCB. The best electric option would be the new £19,590 Zero SR/S, which is £402.92 comp or £450.69 TPFT. If he opted for a £19,099 Kawasaki H2 SX SE, it would be £623.04 comp with no option of TPFT. Another win for electric, but the gap is closer.
The weekend rider
When it comes to showing off, the 55-year-old wants something that will turn heads. Living in a rural area (Rutland, PE9) he has a full licence and five years’ NCB and is limited to 4000 miles a year for social only, no commuting. The obvious electric choice is the £28,995 Harley LiveWire, which is £444.81 comp or £402.19 TPFT. If he goes down the petrol route, the £19,995 Ducati Streetfighter V4 S is a more reasonable £221.11 comp or £546.03 TPFT, however the bike has a far lower value.
Insurance winners
Overall, it seems that turning to electric not only reduces your fuel costs, it’s also likely to have a positive impact on your insurance premiums… which is nice.