Accelerating sustainability –transitioning to an EV Fleet

Churchill Expert have a team of dedicated underwriters who are committed to helping support businesses in their EV journey, providing tailored insurance products and pricing covering vehicle theft, accidental damage, battery, theft of charge cables and EV charger wall boxes

Churchill Expert is a specialist in business insurance and believes that in a world grappling with the challenges of climate change, we have a significant role to play in curbing greenhouse gas emissions. Our aim is to support car subscription and vehicle fleets as they make the transition to electric, as well as those more broadly who are looking for an insurance partner.

For fleet managers, we know that the transition to net-zero is at the forefront of their decision-making process. Moving from traditional fossil fuel-powered fleets to electric vehicle (EV) fleets is now a top priority for those wishing to run a greener and more sustainable business. Recent research from Churchill Expert shows that on average, fleet managers are looking to electrify over half of their fleet by 2024, with 78 per cent intending to convert the entire fleet by 2030. Lower running costs along with the governments offer of incentives and subsidies including tax credits, grants, and discounted charging rates are all contributing to an increased appetite for the adoption of EV Fleets.

However, supply chain issues continue to plague the industry as possible delays in the production and delivery of EVs could lead to longer wait times, making it a bit more challenging to time the transition effectively. Restrictions in the market have meant that a quarter of fleet managers are now willing to be more flexible with their fleets’ trim, colour and technological specification in order to receive their EVs sooner. The market is proving resilient, as managers find ways to navigate the current obstacles. Turning to drivers, as EV technology continues to advance and charging infrastructure continues to improve, we are seeing more fleet drivers open to the idea of transitioning to EVs. As many as 70 per cent of fleet drivers now say they would prefer the electric ‘alternative’ to the petrol or diesel version of their favoured van. In addition to this, according to the Society of Motor Manufacturers and Traders (SMMT), the number of new Battery Electric Vehicle (BEV) van registrations is showing strong growth. This comes as supply chain issues start to wane and the choice of electric vans on the market grows. We believe that the transition to an EV fleet is a proactive step toward a sustainable and eco-friendly future. Despite some challenges, the long-term benefits of reduced emissions, cost savings, and energy efficiency make it a worthwhile investment. By taking some well-planned steps and embracing the opportunities provided by governments and manufacturers, fleet managers can play a vital role in driving positive change towards a cleaner and greener future.

Churchill Expert have a team of dedicated underwriters who are committed to helping support businesses in their EV journey, providing tailored insurance products and pricing covering vehicle theft, accidental damage, battery, theft of charge cables and EV charger wall boxes. Our EV insurance solutions are designed to safeguard your fleet against unique risks and challenges associated with electric vehicles. With comprehensive coverage, including cover against damage to charging points and equipment, you can be confident that your fleet is in safe hands. Stay ahead of the curve and embrace the electric revolution while enjoying peace of mind on the road with our dedicated EV insurance – the perfect partner for your fleet’s sustainable journey.