Electric Car Insurance Information

Electric Car Insurance Information

Between the wars in the Middle East, the pipeline spill in the Gulf of Mexico and Iran holding the Straits of Hormuth hostage, people are looking for alternatives to gas powered vehicles. The price of a gallon of gas has been volatile for almost ten years and even though it is dropping in price, one wrong move by a diplomat can send the price soaring.

The electric car is no stranger to the roads of the United States. However, it has been under wraps for many years as attention to gas prices waxed and waned. When the price soars, someone is willing to start working on another version of the electric car.

Once again, you can see electric cars and hybrid cars gaining popularity as people take responsibility for their environment and purchase vehicles that do not require fossil fuels to power them. The hybrids are a mix of the electric car and the gas-powered engine and while not entirely planet friendly, they do emit less ozone damaging exhaust.

The electric car, or EVs as they are called, are economical and are produced with environmentally friendly technology. The emissions from EVs are nonexistent and the EV does not require oil or other types of lubricants that are normally needed in a combustion engine.

The downside of an EV is the distance that you can drive before a recharge is needed on the batteries.

The average car can go approximately 100 miles before it needs a recharge, and then the recharge can take almost 45 minutes to complete. This is a better car for those who only drive short distances like to work or school. The cost of driving an electric car versus a gasoline car is two cents a mile against twelve cents a mile.

The EV is beholden to the electric company as opposed to OPEC and while savings are measurable on the consumer level, the overall rise in the price of electricity may someday surpass the savings.

Like gas-powered vehicles, the EV needs to be insured as well. EV insurance is in its’ infancy and while some car insurance companies will encourage green technology and offer a standard green discount, the cost of insurance on an EV may be higher than the average vehicle. See the article on the price of insurance on EVs here. [insert EV Insurance here}

It may take a bit of auto insurance comparison quotes to get an insurance rate that fits your budget. However, that should not be a deterrent to purchasing an electric car. The insurance industry still offers the same types of insurance to both electric and gas powered vehicles.

While you may not get the cheapest car insurance rates because you have decided to go green, you will still be doing your part to cut down the dependency on the oil industry. This alone may be enough of an incentive to buy an EV.

If you continue to compare auto insurance quotes, eventually, there will be enough EVs on the road that the rates will start to stabilize and go down.