Insurance costs depend on the type of car and its make. Are there insurance companies out there that insure electric cars?
I am using StateFarm in NY for our Gem.
Insurance varies greatly from state to state. In Massachusetts we’ve recently moved away from highly regulated insurance so there’s beginning to be some competition but not as much as I’d like. My insurer for my other vehicles (after much back and forth) insures my GEM eL for $468 a year ($39/mo) for basic liability and personal injury protection (state minimums). Yet in a sparsely populated state like Nebraska or Wyoming it might be less than $100 a year for full coverage.
So insurance cost comparisons between people in other parts of the country (or the world) are completely useless in my opinion.
I don’t think the insurance market for electric vehicles is any where near developed as yet. As we get more vehicles on the road I think you will see more realistic prices as competition increases.
In Massachusetts my GEM eL for $468 a year ($39/mo) for basic liability and personal injury protection (state minimums). Yet in a sparsely populated state like Nebraska or Wyoming it might be less than $100 a year for full coverage.
So insurance cost comparisons between people in other parts of the country (or the world) are completely useless in my opinion.
I guess they vary by State WOW. They vary by driver also
Washington State
2013 Chevy Volt (2 cars in one) 2 drivers $475 per year full coverage.
All the parts of an EV plus an engine.
How easy is it to insure an electric car in general? Are insurance companies keen to get involved or is it hard work getting a quote from them?
From my limited experience it’s difficult to get the insurance companies interested in writing policies for electric vehicles if they’re not from a major auto manufacturer.
Until the insurance companies have enough data on electric vehicles to work out the potential risks going forward, especially compared to gasoline powered vehicles, I think they will always err on the side of caution and charge more than they would normally.
Regards,
Mark
insurance companies don’t know and don’t what to learn. My '08 e4 and '03 Toyota are about the same in insurance costs yet the 'yota can cause a great deal more damage. I read in a CAL DOT report that there are ZERO reported deaths in NEV crashes. I spoke at length with my insurance rep (USAA). She said replace parts costs are high. I believe she was assumed Tesla. I added four complete new GEM CAR doors cost $3k, a full trunk $500 and for 800 bucks you can get a motor. ???
When one of the major insurance companies gets “serious” about electric vehicles I think we will see some major downward pressure on premiums 