Automakers around the world are pulling out all the stops in the latest and greatest vehicle advances, many of which they're designing just for the latest and greatest electric vehicles (EVs).
For buyers, the newest EVs can present something of a mystery. How does all the latest tech work? Which EVs have the best range or battery life? And most importantly, is purchasing an EV a good idea in the first place?
Here, we'll share some pros and cons of owning and driving an electric vehicle. And before you choose to EV or not to EV, check out how they affect the cost of your car insurance.
No matter what kind of car you buy, your auto insurance protects you and others out on the road. With the help of a local independent insurance agent, you can get the coverage you need for any car you choose.
Electric Vehicle Pros & Cons
No two EVs are exactly alike. But many of these pros and cons apply to the majority of EVs on the market.
| Pros: | Cons: |
|---|---|
Lower fuel costs
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Limited driving range
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Faster acceleration
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Battery range diminishes over time
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Very quiet
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Lack of reliable and fast chargers in most places
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Less maintenance and fewer repairs
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Long re-charging time
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No tailpipe emissions
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Higher purchase price
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Energy efficiency
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Home charging costs are high
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Post-purchase cost savings
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Highly unreliable in cold weather
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Tax incentives
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Battery production is very bad for environment
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Latest tech features
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Difficulty disposing of batteries
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Environmentally friendly
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Dealers aren't as knowledgeable as they should be
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Carmakers investing in continuous improvement
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Not reliable during power outages or disasters
|
How Do Electric Vehicles Impact Car Insurance Costs?
Just as some gas-powered cars cost more to purchase and repair, so do some EVs. For this reason, insurance coverage for EVs, in general, tends to cost more than for their conventional counterparts.
This isn't a hard-and-fast rule, however. In most cases, you'll be able to find affordable coverage. And some insurance companies even offer special discounts for people who own electric vehicles.
How Can an Independent Insurance Agent Help Me Find Coverage for My EV?
An independent insurance agent should be an essential part of your search for EV car insurance. Independent agents can help you compare to find the best coverage. They can get quotes from multiple highly rated insurance companies, so you can choose the policy that best fits your needs and budget.
