Does the battery *need* to be insured?

I got a good quote from Admiral today BUT the guy on the phone (who seemed like a well spoken, intelligent sort of chap) stated very clearly that they couldn’t insure the battery. He said Admiral would only ever pay out market value of the vehicle, which is fair enough I guess!

I don’t own a Twizy (yet!?) so I was wondering if someone who actually has an existing battery hire contract could tell me if it states that the battery must be insured, or if I can just chance my luck and pay out of my own pocket should the worst happen?

P.S. For putting a Twizy Urban on a multicar policy I was quoted £370ish with 0 years NCB, but it also reduced the premium on my “main” car quite significantly, meaning my total insurance bill would only be up by £160/year (Twizy would be parked outside on driveway. I’m 31 years old with 13 years NCB on my other car, 6 points on my licence)

I am insured using Admiral multi car, and I wouldn’t have insured it with them if they couldn’t insure the battery.

I’d suggest speaking to somebody else and see what they say. Failing that, you can add the value of the battery to the value of the car and give them that as the value of the vehicle. I think that’s probably what I did.

At the end of the day, the fuel tank on an ICE car is still part of the car, why should the battery on an electric car be any different?

That’s just what I did, added the £3000 to the car value and it was ok’d by the underwriter at Tradewise

Great stuff, I’ll try calling them again tomorrow.

You make a fair point about the battery being part of the car, I guess it’s only difficult because when they look up the market value of a Twizy of a given age in parkers/autotrader etc that doesn’t include the battery. The guy I spoke to at Admiral said I shouldn’t add the value of the battery to the value of the vehicle, but I don’t see why not!? Will see how it goes…

Ta!

Because you’ll be throwing your money away! It is no different from someone insuring their pride and jog for £5k more because that’s what they honestly believe it is.

On the day if reckoning - the only value that will be paid out is Market Value, NOT what you claimed it is.

Further, the battery isn’t yours (as stated in the contract) but they hold you liable, leaving you to insure (or self-insure) as appropriate. I can confirm Admiral Group and RAC do not cover leased batteries.

All sounds reasonable. It’s an odd situation where the replacement cost of a Twizy (or any Renault ZE) is higher than it’s “market” value…
So. Does anyone insure batteries?

I am with Admiral, I mentioned the battery and they just said market price for the whole car, even though I said it was worth 3k more than the car. I am happy with that, I know others may not be.

As the insurers do not really cover the battery, would it not be better for Renault to insure it fully on your behalf and add it to your BH payment?

Only when a few claims have been rejected will this become a problem, give it time. Renault should be trouble-shooting ZE for the public and this is one issue that needs sorting as you could be liable for £3000-odd of battery that the insurers will not pay out on, regardless of what figure you tell them; they pay the lowest possible trade replacement price as per CAP/Glass’s trade pricing guides.

The battery should be insured by renault under the lease agreement. We should get something out of the exorbitant cost of the battery rental!!

That isn’t my understanding of the motor insurance policy I took out for twizy. Its a bit like the other cars that I lease with them only certain insurers will cover you as technically speaking if there is a total loss claim the outstanding rentals are due as well as the value of the vehicle(well most fine print seems to suggest this) ultimately the leasing company and the insurer will arm wrestle for the settlement. This case isn’t too different at least how I understood it, there must be a third party interest noted on the policy and the value of the battery declared and if it comes to it said third party will have the dispute with insurer. It’s a stupid scenario which could easily be rectified by offering battery insurance as an extra with the rental and then everyone knows where they stand, though I was told by a friend that works with some big insurers that the underwriters that do policies for EV’s have factored this in to calculations and hence why they can on some occasions be a bit pricer to insure.

My battery rental contract states explicitly that insurance is included.
I’m in the Netherlands, maybe it’s not the same in other countries.

This is interesting and worrying? I hadn’t thought of that, is leasing of the battery includes insurance say if the car got totalled, stolen or set fire to?

Same here in Belgium, battery insurance is included in retal price, i think about 12€/month.

I’m pretty sure the UK battery lease says it’s not insured (as part of the contract) so you need to insure it separately, which could be either as part of your car insurance or another policy.

There’s a formula for what RCI will be owed if you need to end the battery contract - which would include cases where the battery is a total loss due to fire, theft, etc. It’s a bit complicated but at a guess it’s probably about £2k for most people.

…It’s all so boring… This has been said several thousand times already for various reasons, but if Renault would just sell their batteries with the car life would be so much easier!! The insurance would be simple as there’d be only one party involved. Plus, most people could get an unsecured loan if they wanted to pay the cost of the battery monthly anyway. Arghh…

Sorry for digging up an old thread… but related…

Was just about to put my cars, including Twizy, on an Admiral Multi-Car policy… double checked with them about covering the battery… after they spoke to the under-writers they confirmed they would only pay out market value for the car and not like-for-like on the battery…

Does anyone actually have insurance cover where it is clearly agreed/written that the battery is covered?

I have an Admiral Multi-Car policy, and had a long long discussion with them about what was insured. In the end we agreed, the insured value is 2 parts, the car and the battery. The car is insured for 3,500 GBP and the battery for the value listed, from memory 2,700 GBP. This was recorded in the notes that they keep on their system but not in the policy document. They offered that i could call back to check the details recorded, if i was in any doubt.

They confirmed that if i made a claim that i would get the market value on the car and the market value on the battery, not the replacement cost. I decided that I could take the risk of covering the difference between market and replacement value on the battery.

There was however still a catch. They need to prove that the battery was in good condition before any incident.resulting in a claim, but the person handling the call could not provide details of what proof might be required so again, I chose to accept the terms.

Thanks for your comment. It’s a bit of a minefield!