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EV insurance -VRT rebate/SEAI grant

  • 14-11-2018 6:31pm
    #1
    daheff
    Registered Users Posts: 5,833 ✭✭✭


    Hi

    One question that I've been considering when thinking about an EV:


    If I buy a new EV and avail of the VRT & SEAI grant, when I go to insure my car, should I insure the value net of grants or gross?


    I guess while grants are still in force making an insurance claim including VRT/SEAI would leave me in a better position than I was prior to buying the car??

    But what if grants are taken away mid way through an insured year and car is stolen/written off etc? If i haven't insured those amounts then I'm out of pocket.

    Appreciate this really only applies to the first year (or maybe 2) of a new cars life.

    sorry if this is rambling a bit.


Comments

  • #2
    Gumbo
    Moderators, Society & Culture Moderators Posts: 38,364 Mod ✭✭✭✭Gumbo


    You’ll still get market value


  • #3
    unkel
    Registered Users Posts: 64,705 ✭✭✭✭unkel


    With any decent comprehensive insurance policy, if your brand new car is written off during the first year, the insurance company will replace it with a brand new one (or pay you to do so)


  • #4
    daheff
    Registered Users Posts: 5,833 ✭✭✭daheff


    unkel wrote: »
    With any decent comprehensive insurance policy, if your brand new car is written off during the first year, the insurance company will replace it with a brand new one (or pay you to do so)

    But don't you need to put a value in that? insurance cos usually pull all the tricks to minimise their payouts.


  • #5
    DesperateDan
    Registered Users Posts: 1,582 ✭✭✭DesperateDan


    I would imagine not because really those grants don't involve Joe public. So if your 40kwh Leaf is written off then you'll either get a new Leaf or get what you paid for it. If they remove that grant/rebate there's going to be a window where you may be in trouble, but by that time the EV market should be stable enough that it's not so much of a problem (the 40kwh Leaf will never literally cost someone 43k)


  • #6
    cillo2000
    Registered Users Posts: 69 ✭✭cillo2000


    So the SEAI say they give grants to new EVs.... The revenue considers cars under 6 months old as 'new' in the VRT process. I know it would be practically impossible, but legally I wonder could you pick an ev grant in the UK and then again when you import the EV into the ROI?


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  • #7
    unkel
    Registered Users Posts: 64,705 ✭✭✭✭unkel


    Nope. SEAI grant in Ireland is only for brand new cars bought and registered in Ireland first. You don't get the grant, the dealer does.


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