insurance

Does Auto Insurance Differ for Electric Vehicles?

Posted on by admin

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.

The Homeowner Assistance Fund

Posted on by admin

When you buy a home, protecting your investment is essential. Many homeowners address this need by purchasing homeowners’ insurance. If you live near Commerce, GA, our team at Commerce Insurance Agency is ready to help you choose the right insurance policy to meet your needs. Since 2009, we’ve been assisting homeowners like you with personalized insurance solutions.

The Homeowner Assistance Fund

Georgia’s state government recognizes that rising costs can put homeowners at risk of foreclosure or losing access to utilities. To address this, the Homeowner Assistance Fund (HAF) was established through the American Rescue Plan Act to support the nation’s most vulnerable homeowners. Funds have been distributed across states, U.S. territories, and Indian tribes to prevent homeowners from losing their homes or power.

According to the U.S. Department of the Treasury, this program has provided assistance to nearly 550,000 people. Data shows that much of this aid has gone to underserved families and homeowners, including those who are disabled, female, or people of color. Georgia residents who believe they may qualify for HAF funds can apply through the Georgia Department of Community Affairs.

Call Us Today for Your Appointment

At Commerce Insurance Agency, we understand the importance of your investment in your home. Our agents are trained to provide the information you need to make informed insurance choices. Homeowners near Commerce, GA have come to rely on our team for exceptional customer service and support. Contact us today to schedule an appointment and let us help you protect your home.