Lyy Andew
Electric cars have been around for some time, but they are still considered rather exotic.
Fortunately, as awareness of the environment increases, more and more people each year decide to put our future, not just the future of the planet, first.
Do you own an electric car? Or perhaps you’re thinking about buying your first electric car? Here’s some good news. Now is the perfect time!
Even though electric car insurance tends to be a little more expensive. As more electric cars run, insurance companies are starting to become more competitive. This is causing the price of electric car insurance to become more competitive and even approach the price of gasoline insurance.
How is electric car insurance different from conventional auto insurance?
When it comes to insurance, both electric and gas vehicles need the same coverage. As with general insurance, liability insurance is required. Electric vehicles are very often leased or financed. In these cases, finance companies require additional coverage such as comprehensive and collision insurance. Provision of everything is mandatory.
The main reason for the increase in premiums for electric vehicles is price. Essentially, the more expensive the car, the more insurance you can expect to pay.
It’s clear that replacing an electric car in the event of an accident will cost the insurance company more than replacing a gasoline car. In addition, parts for electric cars are more expensive and usually not purchased. Even minor accidents can cost significantly more, and battery damage alone can easily exceed $15,000.
Do all companies offer electric car insurance?
Competition for electric cars between insurers has only recently begun. Competition is always a good sign for customers. Service providers must maintain a competitive edge while ensuring product quality and price efficiency.
Some of the companies that currently offer electric car insurance include:
- Travelers
- Progressive
- All-state
- Nationwide
- State Farm
- Keiko
- Farmers
Some companies are moving faster than others in terms of environmental awareness. Travelers and Liberty Mutual offer special discounts for those with EV insurance. Other companies will follow in their footsteps sooner or later if they want their products to remain attractive.
EV charging station warranty
An important aspect of owning an EV is installing a charging station inside your garage or outside your home. Charging Station www.energy.gov You must comply with local, state and national regulations. It’s worth consulting with your agent or insurance company to see if your charging equipment is covered by your home insurance. Not all insurance companies include charging stations in the basic package, so you may have to add this coverage separately.
Does your policy guarantee roadside assistance?
Roadside assistance for electric and gas vehicles often differs, so you’ll need to have professional personnel dispatched in the event of a deteriorating situation. Make sure your car insurance covers your electric vehicle. They are transported to the nearest charging station in case of a technical malfunction (using electric vehicle traction is not recommended). They do not have a gearbox. That is, it cannot be put in neutral. Thus, towing can cause serious engine damage. Sometimes they can bring a mobile charging station and let you charge your car on the fly.
What are the benefits of owning an electric car?
Even though electric cars can cost a bit more in the premium categories. There are many benefits that far outweigh the extra premiums.
Health and Environment – The most important benefits of owning an electric car are the environmental and health benefits compared to gas cars. Complete electric cars have no tailpipe emissions, making the environment much greener. Exhaust emissions are not only harmful to the environment, but also to drivers and passengers. Especially in older cars and cars with poor or outdated ventilation systems, carcinogenic soot can build up inside the car, which can cause serious lung damage over time.
Maintenance costs – Electric cars have much lower maintenance costs. Just a few moving components greatly reduce wear and tear. Only the chargers, inverters and motors are responsible for moving, so there are only a few things that can cause problems. Much less than traditional gas-powered cars.
Driving costs – the cost of electricity in electric cars is quite low. Depending on gasoline and electricity prices in your state, you can save up to $1,000 a year. Good examples of this can be found in west coast states like California, Nevada, and Oregon.
How do I get insurance for an electric car?
The smooth transition to a future electric environment can be quite time consuming. It’s always a good idea to know your options and have the experts review your policy. Gaby took the insurance aspect of this problem and took it apart, cleaned it up and reassembled it.
Our system allows you to compare dozens of different insurance companies to get the best possible contract, and our authorized agents are always there to help you optimize your policy. Make sure your electric vehicle is not only environmentally friendly, but also has a cost-effective policy that guarantees it!
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