EV Resource
  • Home
  • Newsletter
  • Magazine
  • Podcast
  • EV 101
    • EV Terminology
    • What is an EV?
    • Pros and Cons
    • EV Types
    • Are used EVs a good option?
    • How much range do you really need?
    • Real world range
    • Types of charging and charging stations
    • How Long Does It Take To Charge
    • EV Charging Apps
    • All about EV Batteries
    • Regenerative Braking
    • BEV System Components
    • EV Maintenance
    • EV Mythbusting >
      • Myth: EVs are worse for the environment
      • Myth: EVs aren't good for emergencies/evacuations
      • Myth: It takes weeks or months to cross the US in an EV
  • Articles
    • Opinion
    • EV Owner Stories
  • Vehicle Reviews
  • Sponsors
  • Shop
  • About Us
  • Contact
  • Alternative Fueling Station Locator

Do Electric Vehicles Really Cost More To Insure?

11/6/2019

Comments

 
We dive in with insurance expert Matt Escobar to talk about EVs and insurance.
By: Zack Hurst

Electric vehicles are becoming more mainstream and, while the total cost of ownership is significantly lower, there is still some confusion about if the insurance costs are higher or not. Depending on HOW we compare vehicles determines what answer we get to this question.

 Comparing insurance costs

If you're like us and read a lot of internet articles, you will likely have seen this question with statistics comparing many models gas versions against their electric versions and the answer returned is that EVs can cost more than 20% more for insurance than their gas counterparts... and this is true, sometimes. However, it likely depends on many factors and isn't as easy as a straight comparison. We asked an insurance expert, Matt Escobar, to compare a few different models for us and found that in fact there was very little difference between the insurance premiums, especially when comparing cars that were of similar value. While we can't say that insurance costs are never going to be higher for you, we can say that they aren't always higher, and in some cases may turn out to be almost the same.
Picture
Insurance companies don't care if a vehicle is powered by a gas engine or an electric motor. They care about what it would cost to repair or replace, and if the vehicles are similar in this aspect, so is the cost of insurance.

Comments

    Categories

    All
    Aerodynamics
    Aptera
    Arcimoto
    Arcimoto FUV
    Artificial Intelligence
    Battista Hyper GT
    Bentley
    Bi-Directional Charging
    Blink Charging
    Chevrolet
    Chevy Bolt EV/EUV
    Commercial Delivery Vehicles
    Commercial Vehicles
    Concept Vehicles
    Consumer Information
    Corvette
    Corvette E-Ray
    Cybertruck
    Electric Fire Truck
    Electric Vehicle Festival
    EV Batteries
    EV Brakes
    EV Chargers
    EV Charging
    EV Conversions
    Events
    EV Fires
    EV History
    EV Policy
    EV Racing
    EV Safety
    EV Tax Credit
    EV Trucks
    EV Vans
    Extreme E
    F-150 Lightning
    Federal Tax Credit
    Ford
    GM
    Hyundai
    ID.2 Concept
    IONIQ 6
    Kia
    Kia EV9
    Land Speed Racing
    Mercedes-Benz
    Mullen Automotive
    Mustang Mach-E
    Pininfarina
    Polestar
    Polestar 4
    Qiantu K50
    Ram 1500 REV
    Recall
    Rivian
    Scout
    Solar EVs
    Sono Motors
    Spark EV
    Spy Shots
    Subaru
    Tesla
    Tesla Model Y
    Tesla Supercharger Network
    Toyota
    Vehicle Design
    VinFast
    Volkswagen
    Volvo
    World Records

    Archives

    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    November 2022
    October 2022
    August 2022
    April 2022
    August 2021
    July 2021
    April 2021
    March 2021
    February 2021
    December 2020
    July 2020
    June 2020
    May 2020
    March 2020
    February 2020
    January 2020
    November 2019
    October 2019

Have a question you'd like to ask us? Just click the button below to send us an email:
Email Us
Copyright 2023, EV Resource, LLC
  • Home
  • Newsletter
  • Magazine
  • Podcast
  • EV 101
    • EV Terminology
    • What is an EV?
    • Pros and Cons
    • EV Types
    • Are used EVs a good option?
    • How much range do you really need?
    • Real world range
    • Types of charging and charging stations
    • How Long Does It Take To Charge
    • EV Charging Apps
    • All about EV Batteries
    • Regenerative Braking
    • BEV System Components
    • EV Maintenance
    • EV Mythbusting >
      • Myth: EVs are worse for the environment
      • Myth: EVs aren't good for emergencies/evacuations
      • Myth: It takes weeks or months to cross the US in an EV
  • Articles
    • Opinion
    • EV Owner Stories
  • Vehicle Reviews
  • Sponsors
  • Shop
  • About Us
  • Contact
  • Alternative Fueling Station Locator