The EV Insider

Guide

How to compare EV insurance quotes fairly

Last checked: 22 October 2026 · 6 min read · By The EV Insider

Short answer: a cheaper quote is only cheaper if it covers the same things. Before comparing prices, line up the valuation basis (agreed or market value), the excess, the drivers, hire car cover and the new-for-old period. For an EV, also check battery damage and fire, the charging cable and wall charger, and roadside help if you run out of charge. Insurers differ a lot on these, and quotes for EVs vary more than for petrol cars. In one market scan, quotes for a BYD Atto 3 were A$900 apart (Taylor Fry, 28 April 2026).

General information only, not insurance advice. We don't recommend any insurer and don't earn anything from insurance. Always read the Product Disclosure Statement (PDS).

General information, not tax advice. Rules change and your circumstances differ. Check the ATO sources linked here and speak to a registered tax agent or your employer's payroll team before you decide.

1. Agreed value or market value

Moneysmart explains both and suggests weighing up the certainty against the cost (Moneysmart). NRMA Insurance says both values include accessories, GST, rego, CTP and other on-road costs (NRMA Insurance FAQ). Other insurers may define market value differently. One novated fleet PDS, for example, excludes on-road costs from market value (Paywise PDS, October 2023).

Why it matters more for an EV on finance: used EV prices can move quickly, and the payout may not cover what you owe. See novated lease car insurance and gap cover.

Compare like with like: surveys often use market value (for example, Compare the Market's March 2026 index), so an agreed-value quote won't line up with those averages.

2. Excess

The excess is what you pay towards each claim. A higher excess usually means a lower premium (Moneysmart). When comparing, check: - the basic excess is the same on every quote - extra excesses for young, inexperienced or unlisted drivers - whether you pay an excess for a no-fault claim, and what proof you need of the other driver's details - the window glass excess

3. Drivers

Some policies cover anyone you allow to drive. Others price by named drivers and add an excess for anyone else. AAMI's PDS, for example, covers "you or anyone you authorise to drive your car", subject to its conditions and exclusions (AAMI Comprehensive PDS). Make sure every quote has the same drivers.

4. Hire car

EV repairs can take longer while parts are sourced (ICA, May 2024), so hire car cover is worth comparing. Budget Direct, for example, includes a hire car after theft or a no-fault accident, and offers at-fault hire as an optional extra for up to 21 days (Budget Direct FAQ, checked 22 October 2026). NRMA Insurance notes that a hire vehicle "may not be an EV" (NRMA Insurance FAQ).

5. New-for-old period

If a new car is written off early, some policies replace it with a new one. Published periods differ: - AAMI: total loss within the first 2 years of registration (AAMI) - Budget Direct Gold Comprehensive: within 2 years or 40,000 km (Budget Direct) - Youi: brand-new EV within 2 years of first registration (Youi) - Allianz: new EV if written off within 2 years of manufacture (Allianz) - InsureMyTesla (Zurich): up to 4 years or 100,000 km (Zurich)

Note the different starting points: registration or manufacture.

6. EV-specific items: what insurers publish

What some insurers say on their websites (checked 22 October 2026). This is a summary, not the full terms, so always check the PDS.

Insurer Battery Charging cable Home wall charger Notes
Allianz Accidental damage covered; thermal runaway counts as fire Covered if you own it Covered if you own it (with mounts) EV-certified repairers (Allianz)
NRMA Insurance Covered for a covered incident, not breakdown or wear Manufacturer-supplied cable covered as part of the car Not covered by car policy; may be under NRMA home building cover (NRMA Insurance FAQ)
RACV Covered if damage is from an insured event Depends on policy and cover level Not stated (RACV)
Youi Covered as part of the car in an insured event Not automatically covered Some Youi home policies, not car Roadside tow to a charger included with Comprehensive (Youi)
ROLLiN' Covered Covered Wall boxes covered Non-import EVs under A$150k only (ROLLiN')
Kogan Not stated Included with the car Included with the car Per CHOICE
AAMI No EV-specific wording found Only accessories fitted to the car are mentioned Not mentioned (AAMI PDS)
Budget Direct No EV-specific wording found Not mentioned Not mentioned (Budget Direct FAQ)

We couldn't find EV-specific pages for Bingle, Real Insurance, Huddle or Everyday Insurance (Woolworths) when we checked. Ask them directly, or check their PDS.

Battery wear isn't covered anywhere. Insurers cover damage from insured events (crash, fire, storm, theft), not gradual degradation or faults (RACV). That's a warranty matter.

7. Roadside: running out of charge

Roadside assistance is often separate from insurance, and it usually tows rather than charges: - NRMA roadside (2026 terms): tows a flat EV to the nearest accessible charging station or your chosen destination, whichever is closer, within your towing entitlement. You bring your own cable and pay for charging (NRMA Membership terms 2026). NRMA has mobile EV chargers in Sydney and Canberra (NRMA, Towing an EV). - RACV Total Care: tows to the nearest accessible charger or your preferred destination, up to 200 km (RACV Total Care). - Youi: roadside comes with Comprehensive car insurance, and tows an out-of-charge EV to the nearest charging station. You may pay a charging fee, and there's no cover in the first 24 hours (Youi roadside).

Keep your portable cable in the car, because you may need it at the charger you're towed to.

Your quote comparison checklist

Check Quote A Quote B Quote C
Annual premium
Agreed or market value (and amount)
Basic excess
Extra driver excesses
Drivers covered
Hire car (at-fault and no-fault)
New-for-old period
Battery damage and fire
Charging cable
Wall charger (or home policy)
Choice of repairer / EV repairers
Gap cover (if leased or financed)
Financier noted (if leased)

Bottom line

Fill in the same rows for every quote before you look at the price. For an EV, the rows that most often differ are the valuation basis, charger cover, new-for-old period and gap cover. For background on prices, see EV insurance costs compared and why EV insurance costs more. If the car is on a novated lease, also read novated lease car insurance and what happens at the end of a novated lease.

FAQ

Should I choose agreed value or market value for an EV?

It depends on your situation. Agreed value gives a known payout, while market value tracks the car's current worth. If the car is financed, compare either payout with what you'd owe. This is general information, not advice.

Is my home EV charger covered by car insurance?

With some insurers it is (Allianz, ROLLiN' and Kogan say so). With others it's a home insurance item (NRMA Insurance, Youi). Check both policies.

Does roadside assistance charge my EV?

Mostly it tows you to a charger. NRMA has some mobile charging trucks in Sydney and Canberra.

Disclaimer: this is general information only, not insurance or financial advice. Insurer features summarised here were checked on their websites on 22 October 2026 and can change. Read the PDS and Target Market Determination before buying. We don't receive any payment from insurers. See our About page.

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Sources

Last checked: 22 October 2026. General information only, not tax, financial, legal or credit advice. We don’t recommend any provider; where businesses are named, it’s for information. See our affiliate disclosure.