Electric cars, also known as Electric vehicles (EVs) have become more popular. And while the pricing of electric cars has found a balance between affordable and competitive, insurance costs are a separate consideration.<\/p>\n\n\n\n
While electric cars used to be much costlier to insure compared to their gas-powered counterparts, the gap has recently narrowed. Their popularity has surged over the past several years, and seeing an electric vehicle on the road is no longer a rarity. If you\u2019re thinking of making the switch yourself, this article breaks down what you should keep in mind when shopping for insurance.<\/p>\n\n\n\n
Whether owning an electric vehicle is the right choice for you will depend on your personal circumstances. Here are six benefits of driving one you can consider:<\/p>\n\n\n\n
While you must rely on a charging station to recharge your vehicle\u2019s battery, you can say goodbye to gas stations. With a home charging station, you can plug in your automobile when you get home from work and it will be ready to go the next morning. <\/p>\n\n\n\n
Plus, public charging stations are popping up more frequently all over the country which may make traveling with an electric vehicle easier than ever.<\/p>\n\n\n\n
Electric automobiles produce no tailpipe emissions. While driving an electric car will not eliminate your transportation carbon footprint, it will significantly reduce it. Additionally, hybrid electric vehicle models utilize either gasoline or battery energy and are a popular option for those not quite ready to fully commit to an all-electric car.<\/p>\n\n\n\n
Tailpipe emissions pollute both the environment and your vehicle\u2019s interior to varying degrees, depending on factors such as the type of car you drive and its climate control system. Car emissions contain many dangerous carcinogens, including volatile carbon oxides, organic compounds and particulate matter. An electric car may help you avoid breathing in these emissions.<\/p>\n\n\n\n
Typically, fueling an automobile with gasoline or diesel costs more than the electricity expenses of operating an electric vehicle.<\/p>\n\n\n\n
Reports about electric car battery performance vary widely. However, based on predictive modeling conducted by the National Renewable Energy Laboratory<\/a>, new technology has extended the life of some types of batteries up to 15 years. And research continues on ways to extend electric car battery life.<\/p>\n\n\n\n With an electric vehicle, you do not need to worry about regular oil changes or periodically changing incidental parts such as fan belts, gaskets and radiator hoses.<\/p>\n\n\n\n The national average cost of car insurance is $2,014 for full coverage and $622 for minimum coverage. Data shows that, on average, full coverage EV insurance for a Chevy Bolt is actually slightly less than the national average. On the other hand, as luxury vehicles, full coverage insurance for a Tesla Model X is more than twice the national average. <\/p>\n\n\n\n Business Yield analyzed premiums for several makes and models using data provided by Quadrant Information Services to provide a point of reference for electric car owners. The following table lists the average minimum and full coverage premiums for some of the most popular electric models. <\/p>\n\n\n\n Note that your personal rates may vary significantly based on personal rating factors like your location, age, driving record and credit history.<\/p>\n\n\n\nReduce maintenance expenses<\/strong><\/span><\/h3>\n\n\n\n
How much does electric car insurance cost?<\/strong><\/span><\/h2>\n\n\n\n