Shopping for a new vehicle can seem like a dream come true. You’ve imagined yourself signing the papers and riding away blissfully. Although picking out your car's additional accessories and decorative elements is exciting, it’s also best to consider your car’s insurance costs.
We know that auto insurance is the last thing on your mind when purchasing an electric car. While we understand you’re ready to experience life without stopping at a gas station, do you have the budget for an electric vehicle? Buying a car involves more than signing a few papers and driving off. You should also consider the maintenance and additional costs of the vehicle.
Before you ride off into the sunset, here are four things to know about insuring an electric vehicle.
There Are Benefits of Driving EVs
One of the main reasons people gravitate toward electric vehicles is the many benefits that come with them. Electric cars are known for having an extended battery life, which maximizes the life of the vehicle. These vehicles also reduce your transportable carbon footprint and fuel expenses—a plus for those who may want to save money on gas. Some electric cars will help reduce your maintenance expenses since you won’t have to worry about oil changes or repairing incidental parts such as gaskets or radiator hoses.
However, these extra perks come with a higher insurance price.
They’re More Expensive To Insure
Another thing you should know about insuring your electric car is that doing so costs more than your traditional auto insurance. Electric vehicles typically come with a heftier price tag than gas-powered cars. While replacing a gas-powered engine may cost up to $10,000, electric car batteries can cost up to $20,000.
With that in mind, electric cars require specialized repair, equipment, and mechanics. If you were to get into an accident, you wouldn’t be able to take your vehicle to any car shop. Your vehicle would have to be transferred to an EV-certified location.
You Can Save Money With an Electric Vehicle
Although EV insurance is steeper than traditional car insurance, there are ways you can lower your monthly expense. We recommend that you shop around at various auto insurance companies. Insurance rates can vary depending on where you live, your driving history, your credit history, and more. However, you can save money on a premium by inquiring about discounts, raising your deductible, or paying by the mile.
Electric Car Insurance Doesn’t Require a Special Policy
If you’re considering an electric vehicle, you will be pleased to know that most insurance companies don’t require you to have a specialized policy. Electric cars can be covered by basic auto insurance, but it’s always best to contact an insurance agent and shop around before finalizing your package.
If you’re looking for affordable insurance, look no further. Saferoad Insurance Services is proud to insure our lovely drivers and are always ready to help. We offer a free California auto insurance quote for those who are inquiring. Don’t hesitate to contact us to be led in the best direction regarding coverage and policies.