Octopus Electric Vehicles, the UK’s largest EV-only leasing business, has partnered with Admiral Pioneer, part of the Admiral Group, to develop insurance for drivers getting an electric car through salary sacrifice.
Instead of traditional fleet-rated pricing – where everyone pays an average – this new model prices insurance based on individual risk.
Octopus EV estimates that when the offering launches in spring, more than three in four new salary sacrifice drivers will benefit from lower insurance costs, with an average driver saving close to £550.
Insurance remains fully integrated into Octopus EV’s salary sacrifice package, so drivers get one clear monthly cost.
Drivers can also carry over their existing no claims bonus from previous policies.
Gurjeet Grewal, CEO of Octopus Electric Vehicles, said:
“Salary sacrifice has become one of the most powerful ways to help drivers switch to electric – but the insurance experience hasn’t always kept pace.
“This partnership changes that. By pricing insurance around the individual, not the average, we’re making EVs even better value and keeping the experience simple from day one. It’s another step towards making electric the obvious choice.”
Emma Huntington, CEO of Admiral Pioneer, said:
“We’re partnering with Octopus to bring real innovation to EV salary sacrifice, moving beyond traditional fleet pricing to offer insurance based on individual risk. By combining our deep insurance expertise with Octopus’ digital-first approach, we’re delivering smarter, fairer, and more personalised insurance for electric drivers. This partnership shows what’s possible when forward-thinking brands come together.”
