Does it Cost More to Insure an Electric Vehicle?

Electric vehicles can help you save some money. They don’t use gas, which is a huge cost saving. However, prior to buying one, you may wonder if it costs more to insure this type of vehicle. For the most part, it will cost more to insure an electric vehicle than a regular one. Here are two of the reasons why.

Electric Vehicles Cost More to Repair

If you are involved in an accident in your electric vehicle, it typically costs more to repair than similar damages in a regular gas vehicle. This is because the motor and battery in these types of cars are so expensive. If they are damaged, they need to be replaced, which can add up fast. Secondly, not every mechanic is trained to work on electric vehicles. As such, those who tend to charge higher labor costs because they have a skill set that not everyone else does. In turn, this causes vehicle repairs to increase.

Electric Vehicles Are More Expensive

The other reason electric vehicles cost more to insure is because they are more expensive. If one is stolen or totaled, the insurance company will have to pay more to you to replace the vehicle. Ultimately, this means that your insurance costs will be higher. This is generally the case with all vehicles; the more expensive it is, the more insurance will cost. As such, this is a factor you should keep in mind when selecting any car.

If you have recently purchased a new electric vehicle, or are in the market for one, Let Linda Dugan Insurance, serving the greater Astoria, OR area, a call today. The employees can help you find the right insurance for your vehicle at a price you can afford.