Have you been thinking about buying an electric vehicle (EV)? If so, you've also probably wondered if the insurance for an EV will be more than a comparable gas-powered vehicle.
So how does EV car insurance premiums compare to non-EV insurance premiums?
According to a recent comparison study of EV vs. non-EV rates across low to high cost vehicles, on average, EV insurance costs about 25% more than its gas alternative.
Why is that? Several reasons - generally:
- EVs cost more than non-EVs, so they tend to cost more to insure.
- EV technology is more expensive, so repairs will cost more.
- EV technology is unique, so there aren't as many qualified mechanics who can work on EVs, and labor cost is higher.
Premiums will vary depending on a number of factors, including from insurer to insurer.
That's why it's important for you to work with an independent insurance agent to find a policy that not only fits your specific needs but also does so at the best possible price.
Protect your vehicle and your financial well-being. Request a quote from me for a tailored auto insurance plan and drive worry-free: 706-726-1446.