Cheaper to maintain, but more expensive to insure?

The current cost of using an electric vehicle far outstrips that of its gasoline-powered counterpart. In all areas, except the amount to insure it? After checking with half a dozen insurers, certain nuances are in order.

First, it should be remembered that several factors influence the cost of auto insurance. There is the age and experience of the driver, the place of residence, the rate of theft. To these are added the price of the vehicle and the cost of repairs after a disaster. These two factors largely explain the price difference between a traditional gasoline vehicle and one with an electric thruster.

The true and the false

A determining factor and often misunderstood by consumers, who do not understand why a Kona Electric costs on average 7% more than its gasoline counterpart, according to quotes obtained from six insurers. This cost disparity is, however, quite theoretical. At present, however, the cost of insurance coverage for an electric vehicle can benefit from preferential rates.

Indeed, several insurers contacted offer reductions of up to 30% to owners (and tenants) of an electric vehicle. Note that some insurance companies offer discounts (less generous, however) to owners of hybrid vehicles and low fuel consumption.