If you are considering buying an electric vehicle in Commerce, GA, it’s important to understand the nuances of owning one. While many aspects of car ownership remain the same, there are differences, including how auto insurance applies to electric vehicles. Commerce Insurance Agency can help you navigate the requirements to protect your electric car fully.

Why Insurance Costs Can Differ

Several factors can make insurance policies for electric cars more expensive. One major reason is that these vehicles are generally more expensive than their gas-powered counterparts. However, prices are starting to level off, with newer electric vehicles becoming more comparable in cost to traditional cars. EVs also feature specialized technology, which translates into higher repair and replacement costs. Although the number of mechanics specializing in electric vehicle repairs has increased, finding an experienced one may still be challenging, leading to higher expenses. The batteries powering EVs are the most expensive component to replace, and some insurers may offer battery coverage as an optional endorsement. Additionally, many electric cars have instant torque and acceleration, which some insurers view as a higher risk.

Standard Coverage Still Applies

The auto insurance policy for your EV will include the same coverage categories as traditional vehicles. You can expect liability coverage for damage to others, collision coverage for damage to your own vehicle, and comprehensive coverage to protect your EV from theft, weather damage, and other risks.

Insurers currently have limited historical data regarding EVs, so rates may decrease in the future as more statistics become available. In the meantime, practicing defensive driving can help keep your auto insurance costs lower. Regularly reviewing your policy ensures you have the best EV insurance rate available.

Commerce Insurance Agency, serving residents in Commerce is here to help you find the best auto insurance policy for your needs. Contact our office to schedule an appointment today.