More often, we see that electric cars are no longer an alternative, but a growing reality as more manufacturers switch to EV models. The figures do not lie. Just in the past month, the sales of electric vehicles and trucks have gone up 63.45% compared to the same month of the previous year’s sales. This is according to the latest registration report from the automobile manufacturers association. The progress of electric vehicles will only continue, especially in states like California that have enacted strong clean energy laws, essentially requiring EV vehicles in the next decade.
There is a lot of work to be done to make an entirely EV world a reality, including thousands of charging stations that need to be built all over the United States. Thanks to infrastructure investments by the U.S. government, billions have been earmarked for charging stations and other related needs.
That said, more and more insurers have specific insurance for electric cars in their product catalog or, at least, with coverage designed for this type of vehicle within their car insurance offerings.
WHAT COVERAGE SHOULD ELECTRIC CAR INSURANCE HAVE?
Electric cars must also be insured with a civil liability policy in countries like the USA. The different types of insurance are the same as those for gasoline or diesel vehicles if you have an electric vehicle. This means you can insure it to third parties, extended third parties, all risk, and all risk with excess. However, the operation of electric cars is very different from that of traditional vehicles, so the main differences are found in the coverage offered by insurers.
Insurance for electric cars includes a series of specific guarantees to cover those components that diesel and gasoline vehicles do not have. The policy will not include this coverage if it’s for third parties. Still, if it is an extended or all-risk modality, some of the most common are those that cover the theft of the battery charging cable and assistance for battery failure.
The battery is the most important element of an electric vehicle and, therefore, the most expensive to repair. It is highly recommended to have battery coverage that covers any unforeseen event related to the car’s ” heart ” since a battery failure can cost a lot of money.
Electric car insurance has specific coverage for this type of vehicle and shares other standard guarantees that are similar to policies for traditional gasoline and diesel vehicles. Insurers always cover mandatory liability in the least and, in addition, offer other protections to the driver, such as legal defense, damage to third parties, coverage for impact with animals and foreign objects, or vehicle replacement, in the event of a total loss.
HOW MUCH DOES IT COST TO INSURE AN ELECTRIC CAR?
Buying an electric car is more expensive than purchasing a gasoline or diesel car, but the price of insurance is not as different as you might think. The fee you would pay for an electric vehicle will be very similar to what you would have to pay if your car used traditional fuel.
Like all car insurance, the price will depend on various factors, such as the type of policy, the car model, or your profile as a driver. The third-party coverage is the cheapest. You can find very cheap car insurance for electric cars with low down payments under $100 by shopping with direct insurers online.
If you choose extended third-party electric auto insurance, you also have excellent value-for-money options. The extended coverage allows you to include some extra options, such as broken windows or vehicle theft, at competitive rates.
Comprehensive insurance is the most expensive type of coverage, but also the one that provides the greatest peace of mind. If your car is new, it’s smart to choose this type of policy to be protected against any unforeseen event.
When choosing insurance for your electric car, you should look at two fundamental aspects:
• The price, which must be adjusted to fit your budget.
• Coverage, basic and specific, for your electric vehicle and others that you may need depending on your driving habits.
Properly choosing your policy will allow you to be protected against almost any unforeseen event. It’s advisable not to skimp on coverage and get a comprehensive policy if you can afford it.
HOW TO SAVE ON THE ELECTRIC CAR?
The best way to save on your electric car insurance is to analyze and compare multiple rate quotes from several insurance companies. Most often, the best rates will be found online, with special discounts you can’t find going through a traditional broker or agent. To start your quote, just enter your zip code and answer a few basic questions about yourself and your vehicle. It only takes about five minutes, and you can save some serious money. Get the cheapest EV car insurance with no down payment today with direct rates online.