By Lauren Ferrone
Published: Thursday, February 2, 2023
“Cause the power, you’re supplying, it’s electrifying!” While Danny Zuko from Grease wasn’t referring to electric vehicles (EVs), getting behind the wheel of one has a similar effect on the senses. If you’re in two minds, here's what you should know before purchasing an EV.
What costs should I consider?
In Australia, EVs typically start at about $45,000. With a high entry price, it’s easy to forget about the hidden savings and how much EVs may save you in the long run. Fuel is the obvious one, but servicing an EV is also generally cheaper.
As EVs have fewer moving parts than their fuel-powered counterparts, they don’t require emission checks, fuel filters, oil changes or spark plug replacements. That said, the cost of servicing an EV will depend on a few factors, including your EV’s make and model and if a routine logbook service or major work is on the cards.
How will I charge my EV?
Prospective EV owners often think about where and how to charge the car while on the go. But what about charging at home? Just like plugging in your phone, you can charge your car using home power points. This will generally charge your car overnight and is the slower option for EV owners.
Investing in a home charger can increase the charge speed by three times that of a regular power point. When you do need to recharge on the road, RAA can give you a boost. We’ve partnered with the South Australian Government to build the state’s first EV charging network with 140 charging sites being installed across the state by 2024.
Am I covered?
Contrary to popular belief, at RAA, you don’t need special car insurance to drive an EV. For example, RAA Insurance covers EVs under its existing comprehensive car insurance policies. Keep in mind the cost of insurance may vary depending on your insurer and claims history. Even small collisions can lead to higher repair costs. This is just one of the reasons insuring your EV is so important.
Given that it may be costly to repair or replace your EV, it’s worth thinking about your insurance options. Third party insurance generally covers damage by your car to someone else’s vehicle or property, but won’t cover damage to your own vehicle. Comprehensive car insurance on the other hand generally covers your EV, as well as damage caused to other vehicles or property.
As always, it’s best to chat to your insurer if you have any questions about your vehicle’s insurance.