Electric cars are shocking insurance companies around America. Are battery-powered cars more reliable than their gas-powered neighbors? Or will caring for your plug-and-play ride be more expensive? Keep reading to learn more!
1. Apples and Oranges
The insurance industry is facing a new challenge with electric cars. Regular, gas-powered automobiles have been driving around America’s roads for 100+ years. The number crunchers at insurance companies know how to come up with rates. On the other hand, plug-in cars are brand new. A few years ago, no one could imagine a battery-powered car with a Bio-weapon Defense Mode, but now, they are available to the average American customer. The technology behind electric cars is still so new that consumers and insurers alike are waiting to see how expensive maintenance and repairs will be. As insurers are still testing the waters for electric cars, you should be sure to shop around for the cheapest rates. We’ve got you covered – Full Throttle Financials can help you compare car insurance quotes quickly and effortlessly. Just visit www.fullthrottlefinancials.com
2. Insurance is not the end-all!
Even though insurance should be on your mind when you’re car shopping, it’s not the only cost. NerdWallet found that electric cars can be over 20% more expensive to insure than traditional vehicles. Despite that, traditional cars are subject to the price of gas, they have more moving parts that can break, and no one will offer you a tax break on a plug-in car.
3. Comparing rates
Ever had a teacher tell you they were preparing you for the real world, only to find out that they didn’t? Well, just like school doesn’t teach you everything, comparing nationwide data on insurance won’t tell you all you need to know about rates. The best way to find out if an electric car will save you insurance expenses is to get a quote. Consider visiting Full Throttle Financials to see what car insurance savings await you – gas or electric!