Is Car Insurance More Expensive For An Electric Vehicle?

Almost every time one of our insurance customers is about to purchase an Electric Vehicle, they ask us if their car insurance is more expensive to insure and electric vehicle. In this video, I answer that question and why.

Electric vehicle insurance is the same coverage as traditional car insurance. There is no difference. Liability Insurance is primarily rated off the driver of the vehicle. Comprehensive and Collision coverage are mostly rated off the value of the car, the safety features, and driver experience.

[Itsme-vofx]

With higher insurance, faster tire replacement and higher taxes (because electric cars don’t use gas, they don’t pay the Road taxes that are built in at the gas pump) and big depreciation because the second owner will soon need to pay thousand of dollars to replace the battery, where are the savings?

[roccodifranco]

Three times more, and they total them out with very small damage of the battery packs $3000 a year is the average