When you get insurance for an electric vehicle (EV), taking advantage of discounts can significantly reduce your overall costs. As electric cars become more popular, many insurance companies offer various discounts to people who own one. Here are some cheap electric car insurance deals you should know about:
Eco-Friendly Car Discounts
Many insurance companies offer discounts to people who drive eco-friendly cars, such as electric cars. The deal is designed to encourage drivers to be more environmentally friendly, which can vary by insurer. If you drive an electric car, check with your insurance company to see if they offer eco-friendly discounts.
Save Money on Safe Driving
Insurance companies offer savings to people who drive safely, including those who own an electric car. If you don’t have a history of car accidents or traffic tickets, you may be able to get a discount on your insurance. Some insurance companies even track your driving habits through a tracking device or mobile app, which can save you even more money if you drive safely.
Bundle Discount
If you have multiple insurance plans, such as home insurance and auto insurance, you can save a lot of money by bundling your plans with the same company. Many insurance companies offer discounts if you have more than one policy, so you may want to combine your plans to save money. When purchasing insurance for an electric car, ask if you can save money by bundling your policies.
Low Mileage Discount
People who own electric vehicles (EVs) tend to drive less than people who own a regular car. This is especially true if they only use the EV for short trips. Don’t drive often? Ask your insurance company about low mileage discounts. People who drive less than a certain number of miles per year qualify for these discounts because they are less likely to be involved in an accident.
Student Discount
If you are a student or live with students, you may be able to get student-rate auto insurance. Many insurance companies offer lower rates to young drivers who get good grades because it shows they are responsible. If you or your children drive electric, check to see if this offer applies.
Home Charging Station Offers
Some insurance companies understand the unique aspects of owning an electric car, such as home charging stations. If you have a charging station at home, ask your insurance company if they offer a discount. This offer is home charging, which is safer and more convenient.
Automatic Payment Discount
You can often get a discount on your insurance if you set up recurring payments. This is an incentive that many insurance companies offer to ensure that you pay your bills on time and can save you a small percentage of your total premium. If you are considering setting up automatic payments, ask your insurance company if they offer this offer.
Loyalty Discount
If you stay with the same insurer for a long time, you may be eligible for a discount for being reliable. Insurance companies often reward long-term customers with lower rates or extra benefits. If you stick to your policy and don’t make large claims, this discount can help you lower your premium when you insure your electric car.
Discounts on Advanced Safety Features
Electric vehicles often have high-tech safety features, such as automatic emergency braking, lane departure signs, and systems to help drivers avoid accidents. Because these features help reduce the chance of an accident, insurance companies can save money on them. Before you buy insurance for your electric car, ask your agent if these savings are available.
Electric Vehicle Association Member Discount
Some insurance companies offer discounts for membership in an electric vehicle group or association. These groups often promote the safe and responsible use of electric vehicles, which insurance companies may reward with lower rates. When shopping for coverage, see if your membership qualifies you for a discount.
Summary
Buying electric car insurance doesn’t have to cost a lot if you take advantage of existing offers. There are many ways to save on electric car insurance, such as eco-friendly car discounts, safe driving tips, group discounts, and loyalty discounts.
