Considering an electric car? Learn how to insure your electric vehicle (EV) so you get the best coverage and rates for your new ride.
What do I need to know about insuring an electric car?
In general, the process for insuring an EV is similar to insuring a gas-powered car. Today, more brands of electric cars even offer their own unique insurance options for EVs or in partnership with an established insurance company.
Does insuring an electric car cost more than a gas-powered car?
Electric vehicles can be more expensive to repair due to
So make sure you shop around to for the best rates and coverage!
Are the costs associated with an electric car or hybrid vehicle worth the benefits?
The initial investment in an electric car can be offset by things like
You can learn about the most recent laws and incentives, as well as federal tax credit for electric vehicles by visiting their websites. You can also connect with your local Clean Cities coalition.
Do I need any special kind of car insurance for my electric car?
When you're ready to pick insurance for your electric car, you'll be offered the same type of auto insurance coverage options as you would for a gas-powered like
However, because EVs and hybrid cars typically have a higher value than gas-only vehicles and can cost more to replace and repair (and can take longer to repair), you may want to consider additional coverages like
Does having an electric powered vehicle impact my homeowners insurance?
Owning an electric vehicle or hybrid car doesn't neccessarily impact your homeowners, condo, or renters insurance. In fact, adding another vehicle may get you a Multi-Vehicle Discount on your auto policy.
However, if you plan on charging your electric vehicle at home it can come with risks like fire, electrical surges, etc. Due to this, you may want to check your homeowners insurance policy to see if you need to make any changes. Please note, most standard homeowners policies don't cover your vehicles or any associated equipment. If you have an EV charging station at your home, check with your insurance company to see if more coverage is needed.
Most electric vehicles and hybrid cars use AC Level 1 or AC Level 2 charging equipment. These are typically installed in your garage or in an area outside of your home. For safety, charging units are required to comply with local, state, and national codes and regulations. This ensures they're installed correctly and well-maintained.
See how much you could save on car insurance for your electric vehicle when you only pay for what you need! Get a car insurance quote in under 10 minutes!