Where Can I Go For The Best Electric Car Insurance?
It seems pretty clear to me that we are finally entering the golden age of the electric car. Sure, these vehicles still represent a small portion of the overall market. At the same time, we have seen an increase in electric car drivers every year since 2013. Not surprisingly, this has also led to greater interest in electric car insurance. Thankfully, carriers are answering the call.
In terms of the best electric car insurance, you will find that there is no such thing as a universal answer. I had to figure this out the hard way, being the owner of an electric car for over five years at this point. What you want to do is carefully match your needs for electric car insurance to a carrier who will meet those needs in spectacular fashion. This is where electric car insurance reviews can prove to be highly useful. Knowing your specific EV (electric vehicle) and location will make it easier to consider the companies we will highlight here, including GEICO, Allstate, and Progressive.
This Is The Time To Learn More About Electric Cars!
As I mentioned before, the number of electric car owners is growing steadily. For me personally, I love being able to take advantage of and enjoy this new tech. The environmental benefits are fantastic, and I’ve really started to see the long-term financial benefits of driving an electric vehicle, as well. The fact that the technology is more affordable than ever also appeals to me.
What About Auto Insurance For Electric Cars?
While electric cars might be revolutionizing the way we travel, the basic demands of ownership are still largely the same. This includes maintenance, as well making sure your vehicle is properly insured. This is a requirement in every U.S. state, although specific rates and requirements can naturally vary between states. For example, your electric car insurance in California considerations may not be exactly the same as someone seeking information on rates and regulations for electric car insurance in Florida.
Here’s What You Need To Know About Electric Car Insurance Rates
Is insurance cheaper for electric cars? This is the question I am asked more often than just about any other. When we ask something like “How much is insurance for an electric car?”. there are a few things I would ask you to keep in mind. Electric car insurance rates varying be state is one element.
There is also the fact that by and large, electric car insurance cost is higher than the costs associated with insuring gas-powered vehicles. This is largely due to the fact that while electric cars are more affordable than ever, electric car insurance must take into account the unique demands for parts, and in terms of maintenance and other services.
Electric Car Comparison Shopping
For this reason alone, I would strongly suggest doing as much comparison shopping as possible. There are naturally exceptions, and some electric cars have different insurance considerations than others.
For example, if you shop around for electric vehicle insurance, you can find prices comparable to gas-powered equivalents. Insurance for the Chevrolet Bolt can be roughly on par with a gas-powered equivalent like the Volkswagen GTI Autobahn. The same can be said for a Tesla Model 3 in the mid range and the BMW 330i Gran Turismo. Wondering how much insurance is for a Nissan Leaf? That will run you somewhere in the neighborhood of $3, 200.
Interestingly enough, in that specific case, I found that a Nissan Leaf can actually be cheaper to insure than certain gas-powered equals (the Subaru WRX Premium is one example). Again, it pays to compare and contrast the pros and cons of each electric auto insurance company. You might even be able to find a good electric car insurance discount! Such discounts are offered for having multiple policies, using an alternative fuel source, and more.
My Recommendations For Best Electric Car Insurance Providers
If you don’t really know where to begin with electric car insurance companies, I’m happy to help. Let’s take a look at the top 3 best electric car insurance carriers available. If not the best, these are at least the three most popular, and are therefore a good place in which to begin your journey.
- An industry powerhouse: Allstate is one of the leading companies for insurance education in the nation. This naturally extends to EV insurance.
- Different insurance products: Allstate offers a range of insurance products, and makes it easy to bundle and save.
- Tons of perks: In general, Allstate has a good reputation for offering a wide range of perks and discounts to their customers.
- Customer service: Customer reviews of Allstate tend to be comparatively average in this arena. You would expect more from such a large company.
- High premiums: Allstate insurance rates for electric cars are some of the highest to be found anywhere.
- Great customer service: GEICO has routinely drawn praise for offering some of the best customer service to be found anywhere. This is particularly true when it comes to filing a claim.
- Exceptional app: Like most insurance companies, GEICO has an app for mobile devices. It might just be the best one in the industry.
- Discount opportunities: Lots of great discount opportunities for electric car insurance to be found here.
- Poor availability of certain coverage types: As you will find, GEICO sometimes makes certain types of coverage available solely through their partners.
- Limitations: Looking for a local agent may prove to be tricky. Your network of options can prove to be rather limited.
- Simply massive: If you are looking for the largest car insurance companies in the world, keep in mind that Progressive currently ranks third for the United States.
- Competitive pricing: For electric vehicle insurance specifically, you will find that Progressive is roughly on-par with many of your options, including Farmers and Liberty Mutual.
- Pet protection: One thing I really like about Progressive? Protection for my terrier Max!
- Customer service experience varies: Unfortunately, this is another big league insurance provider that seems to struggle in this department.
- Bundling costs: If you’re planning to bundle, keep in mind Progressive can get relatively pricey in a hurry.
I’d like to wrap up our look at electric car insurance and comparison shopping by answering a few of the questions I encounter the most:
Q: Is electric vehicle insurance always more expensive?
A: No, but make it a point to learn as much as you can about available discounts, while comparing and contrasting the different rates available to you.
Q: Are there any differences between electric vehicle insurance, gas-powered vehicle insurance, and hybrid vehicle insurance?
A: Not really.
Q: Do I need insurance for my at-home charging station?
A: Quite possibly. You may have to add this component to your homeowner’s insurance. Make it a point to discuss this with any agents or companies you consider.
Electric car insurance doesn’t have to be complicated. Just keep in mind the basics as I have outlined above, and you should be able to find a degree and type of coverage that will suit your needs and lifestyle in fantastic form.