Electric car insurance (or EV insurance) isn’t any more complicated than your standard auto insurance policy. And most insurers will cover your electric car (even Tesla’s Plaid model). Some of them now offer discounts for electric vehicles.
Let’s answer some common questions about EV Insurance, we hear often.
How Much Is Electric Car Insurance?
Well, it’s going to cost a little more. EV insurance is usually more expensive than the cost to insure the average vehicle. The average six-month premium for a Hyundai Ioniq costs $891, while a six-month premium for a Tesla Model S costs $1,142.
But the money you save on gas and maintenance (goodbye, oil changes!) could offset some of those higher insurance premiums.
Why Is Electric Car Insurance More Expensive?
Electric vehicles usually cost more than traditional cars or trucks. The more it costs to replace a vehicle, the higher the insurance. In addition, not all mechanics can work on electric vehicles, so you might pay more for repairs than you would on a traditional gas-powered vehicle. Additionally, companies are often forced to total out an electric car at a higher % of value due to some repair costs.
How to Save on Electric Car Insurance
Keep your driving record as clean as possible! Practice defensive driving.
Many insurance companies also offer discounts for EVs due to their safety features and lower accident rates.
Ready to Embrace Innovation?
Whether you're considering smart home technology for a more secure and connected living space or transitioning to an electric vehicle, Choices Insurance is here to protect your valuable assets.
Contact us today for a personalized consultation and discuss how we can help you navigate these exciting innovations with confidence.
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