Are You Using an Electric Car? Here's The Benefits of Using Car Insurance
If you use an electric car, then you will probably agree that a car is a vehicle that deserves to be insured, because it has a fairly high value.
Having insurance will free you from the extra costs that must be incurred when there is damage to your car because it will be covered by the electric car insurance.
There is also the option of extending insurance coverage that can cover the losses of third parties involved in an accident. Insurance also guarantees cars that are victims of floods or riots according to the applicable terms and conditions.
Not only conventional cars, several insurance companies are even developing electric car insurance, which reportedly will have higher premiums than conventional car insurance.
The emergence of environmentally friendly vehicles or electric cars, has made many insurance companies also develop electric car insurance products.
When you are trying to figure out how much car insurance you need for a regular vehicle can be a little complicated, here’s good news: electric car insurance is not any more complicated than the standard auto insurance policy.
You might be checking your budget and wondering now, how much is an electric car going to cost to insure?
Well, it’s going to cost you a bit more. Electric car insurance is usually more expensive than the cost to insure any average vehicle.
For example, the average six-month premium for a Hyundai Ioniq costs $891, while a six-month premium for a Tesla Model S costs up to $1,142.1 But the money you save on gas and other maintenance could offset some of those higher insurance premiums.
Electric Cars Also Need Protection
Even though it's just a plan and hasn't started yet, car insurance products are believed to be able to provide a good market niche for the vehicle industry.
This is because electric vehicles, including electric cars, still require insurance protection and they also have risks.
In addition, electric car insurance and conventional car insurance are also not much different. Where the amount of premiums to the protection benefits that will be received, from electric vehicles may not be much different from others.
Here's the benefits of having insurance:
Guarantee Your Vehicle Protection
Insurance will provide protection for your car for losses experienced, ranging from losses in the form of car damage due to accidents or crimes of theft.
Understand the vehicle insurance types that you need, by choosing the right type of vehicle insurance, you can feel its benefits in the future.
Helping Financial Planning
When you have an accident and it does damage to your electric car, you will need money to repair the damage.
The advantage of using car insurance is that you no longer have to worry about the amount of costs that must be borne, because the insurance company will cover it based on the applicable policy.
In this way, your financial condition will be more stable and you can allocate it for other urgent interests.
A Sense of Security
Having car insurance can create a sense of security for you as the car owner, where you no longer need to worry when driving your car on the road.
Even so, you still has to be careful so as not to get into an accident that might threaten your life or other drivers around you.
To Avoid Vehicle Devaluation
Another benefit is that having insurance prevents you from devaluing the vehicle. In this case, several auto insurance policies can help with the value and age of the vehicle.
So that it can avoid devaluation. Especially when the car is hit by a flood or other unexpected natural disaster that lowers the selling price of the car. Furthermore, it can also lower losses and save you more money in the long run.
Additional Service Features
Another great benefit of car insurance is that it offers various discounts on car products and accessories such as discounts on car washes or the purchase of other car equipment.
Having car insurance may seem expensive, but consider it in terms of needs, the risks that lurk, and the benefits offered. In addition, make sure that the monthly cost of your car insurance is in accordance with your budget.
Why Is Electric Vehicle Insurance More Expensive?
There are two main reasons for this:
Electric vehicles usually cost more than traditional vehicles such as cars or trucks. The more it costs to replace a vehicle, the higher your electric car insurance.
It costs more to repair an electric car. If the batteries are damaged, it can cost over $15,000 to replace. And they can also get damaged even in minor accidents.
Plus, not all vehicle mechanics can work on electric cars. So you might pay more for repairs.
Ways to Save on Electric Car Insurance
There are ways to save on electric car insurance, one of them is to keep your driving record as clean as possible and also practice defensive driving.
Check if there are any discounts.
Ask your insurance company if they offer some electric car discounts. You can also look for rebates or tax credits and see if you qualify for the state or federal electric vehicle rebates or tax credits.
Get the Best Insurance Coverage
Looking for the right insurance that suits you can be hard. That’s why it is essential to find a network of local, independent insurance agents who can shop insurance rates for you.
They’ll look at your unique situation and find you the best coverage at the best price.
Electric Car Needs to Be Handled by Reliable Mechanics
In addition to the battery, which is the most expensive component in an electric car, the thing that makes electric car insurance premiums expensive is also because electric car components are imported directly from abroad and electric cars must be handled by professional mechanics.
This is the reason why certain technicians or those with special skills are allowed to deal with the damage of electric cars. In fact, several insurance companies plan to prepare a special electric car repair shop.
So, it could be that the insurance premiums for electric vehicles and conventional cars can be equal. However, this is seen again from the condition of the damage of the car itself.