BIBA and Novo unveil new EV-dedicated scheme

The British Insurance Brokers’ Association (BIBA) has joined forced with Novo to launch a new motor insurance scheme tailored directly for electric vehicles.

Available to all BIBA members, the scheme offers comprehensive cover, like-for-like replacement mobility and bespoke support during the claims process by a specialist EV claims management provider.

Mike Hallam, BIBA head of technical services, said: “Electric vehicles have rapidly gained popularity in recent years, presenting unique insurance challenges due to their advanced technology and specialist repair requirements. Traditional insurance policies often fall short in providing adequate coverage and support for EV owners and brokers, especially at the point customers need their policy the most, after an accident. This scheme will provide BIBA members with a solution for this growing sector of the market.”

James Allenby, managing director at Novo, which established a network of specialist manufacturer-approved EV repairers, said: “Our goal is to address the unique needs of EV owners and brokers by offering competitive rates, unique covers, and specialist support. This partnership underscores our commitment to innovation and customer satisfaction in a part of the UK insurance market that is underrepresented.”