With a growing number of EVs on the UK roads, the revolution of the private transportation sector is undeniable. Electric cars are here, and at their forefront are tech-focused, always-connected vehicles like the Tesla Model 3, an EV that ranked among the UK’s most popular new cars in 2019.
With this in mind, it’s essential that an always-connected and purpose-built insurance policy, specifically designed to cover these cars, exists. This is where UK-based insurance provider By Miles comes into the picture.
By Miles offers a unique, custom policy model for lower mileage EV drivers in the UK. The company has launched the world’s first connected car insurance policy which takes information about the distance driven directly from your Tesla or LEAF or i3 etc to work out how much premium to charge.
The policy by Miles needs to know your miles driven. Either this can be read from your car’s on-line account if you drive a Tesla or they send you a dongle to plugi nto the dashboard.
The company’s concept is simple: owners are charged by the mile, regardless of how they drive their vehicles.
Tesla owners that drive under 7,000 miles a year could end up paying significantly less with a By Miles custom-built Tesla policy, compared to a more traditional car insurance policy. Other EV drivers can still benefit from the EV per mile policy using the supplied dongle.