Driving an electric car? Great decision! Here at Regal Insurance, we take the health of our planet seriously. If you’re new to electric vehicles—or EVs as they’re also referred to—there are things you need to be aware of, including how they’re insured. One difference is price. On average, quotes for electric vehicle insurance are 21% higher than they are for motorcars. This is because EVs are built with complicated battery systems that require specially trained mechanics. When it comes to damage or loss, your insurance company might have to pay more for repairs or replacement.
Here’s the good news: while electric car insurance might be more expensive, EVs save you money with lower fuel costs and require less service than conventional gas vehicles. In fact, driving an EV can save you as much as 50% on your annual fuel costs, so you can put more towards an electric vehicle policy.
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