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Electric cars vs gas cars - any difference in insurance costs?

Member
Oct 24, 2020
25
Occupation
Anonymous
Will it cost different to insure an electric car versus a gas car? Or will the insurance depend on the age of the vehicle and the condition?
 
Member
Jul 30, 2021
22
The only difference is that insurance for an electric car will cost more than that of a conventional car. The main reason behind this is because electric cars are far more expensive and easy to damage than a car run by gas.
 
Member
Oct 20, 2020
15
Occupation
Unemployed - looking
I don't think there is a difference. I think you may also get more back in return for driving an electric car. I know there are some incentives that are given for drivers who drive electric cars. Might just be a deal with a certain insurer, but I'm sure there are options that give back for driving electric over gas.
The only difference is that insurance for an electric car will cost more than that of a conventional car. The main reason behind this is because electric cars are far more expensive and easy to damage than a car run by gas.
Is that true? I am under the impression that electric cars are essentially the same in terms of how they're built, and what their built with. The only difference is the engine, or what runs the car. I can't imagine they are easier or tougher to damage than gas cars, I imagine it's about the same. Can you point me into an article/study that shows that to be true?
 
Member
Apr 10, 2021
15
Occupation
Private
Is that true? I am under the impression that electric cars are essentially the same in terms of how they're built, and what their built with. The only difference is the engine, or what runs the car. I can't imagine they are easier or tougher to damage than gas cars, I imagine it's about the same. Can you point me into an article/study that shows that to be true?
I did a little digging and it looks to be true. According to this site I found below, insurance for electric cars on average is about 25% more than gas cars. This means your insurance will likely go up if you do switch to an electric car. But, there are stuff like tax credits and other credits given for driving an electric car. You would just have to make the decision of whether or not, if it's worth going electric.

 
Member
Jul 31, 2021
29
Occupation
Investor
You can expect to pay anywhere from 10% to 30% more for electric-powered vehicles. I think this is down to them not being standardized and posing a higher risk of damage costs in the event of an auto accident.
 
Member
Jun 11, 2022
1
Occupation
Retired
It doesn't appear to have negatives. Electric car owners tend to be safer drivers. Electric cars tend to be driven fewer miles. Electric cars tend to be driven at lower speeds. Put it all together, insurance is about the same.
 
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