I’ve been researching EV’s for insurance. While the ID is not yet available for a quote I’ve used some comparable vehicles. The rates are just about double a gas vehicle. You can research which companies are better for EV rates. I’m assuming it’s the replacement cost of the batteries and the rarity of parts?
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I have never owned an EV and wanted to know the experience anyone who has one has had with car insurance. I keep waiting for the VW ID.4 to come up so I can do a quote. Instead, I have used the E-Golf. Not sure if they are comparable.
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Several EVs later including plug-in EVs (PHEV) and a couple of BEVs (only battery), I have not found USAA insurance rates to be much higher than similar cost gas (ICE) vehicles.
It might be more an issue of purchase price (the Tesla model S starts around $75,000), or perhaps a model more likely to be stolen, or more likely to be driven hard. I doubt the ID.4 would fall into any of those categories. Of course it is a $40k+ car, so insurance will take possible replacement cost into account.
The traction battery (the high voltage battery) has such a long warranty these days, usually at least 8 years, I think it is less of a concern as to insurance.
It might be more an issue of purchase price (the Tesla model S starts around $75,000), or perhaps a model more likely to be stolen, or more likely to be driven hard. I doubt the ID.4 would fall into any of those categories. Of course it is a $40k+ car, so insurance will take possible replacement cost into account.
The traction battery (the high voltage battery) has such a long warranty these days, usually at least 8 years, I think it is less of a concern as to insurance.
Some BEVs to ask for quotes on to test rates might be the Hyundai Kona EV and the KIA Niro (both BEVs), but they are both lower cost, say around $37k. The Tesla Model 3 probably insures a bit higher (because of the higher power and maybe a few drive it with a little wild and crazy), but the price is closer to the M3 standard range plus, so quotes on the M3 could be useful too.
What if batteries get damaged in an accident? That’s not a warranty issue. They are the most expensive part of the vehicle? The Tesla Model 3 is only 37k but double to insure than gas cars. I got a quote on my policy and it was 1200 a year vs 600 with my SUV that was 48k.
A few months before the ID.4 is available, all the major insurance carriers should be able to provide a quote. That's been my experience with new models. My current EV, a Fiat 500e, is the most expensive car on my policy. It's like an extra $50 per month over the Jeep Compass on my policy. So more expensive, but not outrageously so.
Another USAA customer - good to hear. This could be a decision making factor when the next $400 is due. Also, some states are implementing EV tax on the sale. AZ has one coming in 22 so I’m hoping to sneak in before that.
My insurance in Cincinnati, OH would be about 58% higher for the ID.4 than my 2017 Acura MDX. Quite a bit more than I expected, but not a deal breaker.
Right that was my point originally. It’s more but nota dealbreaker. Meanwhile you can’t forget for me it’s an additional $600 a year. So, not saving in gas that much since I only drive 5k a year. Nevertheless I still want it.
AZ will have a tax on EVs? Could this be a tax that is intended to raise revenue for road construction and repair, similar to the fuel tax paid at the pump?Another USAA customer - good to hear. This could be a decision making factor when the next $400 is due. Also, some states are implementing EV tax on the sale. AZ has one coming in 22 so I’m hoping to sneak in before that.
California started adding an annual registration penalty on EVs (between $50-175/yr) to offset the gas tax.AZ will have a tax on EVs? Could this be a tax that is intended to raise revenue for road construction and repair, similar to the fuel tax paid at the pump?
Can only find old posts about this, but despite statements to the contrary from online searches, it's expensive! I will be paying over 100% more for my new Tesla model 3 v my old BMW 520d. I've done the comparison sites and Direct Line, but it's going to cost lots to be environmentally friendly. :'( Have others found the same or am I unlucky?Several EVs later including plug-in EVs (PHEV) and a couple of BEVs (only battery), I have not found USAA insurance rates to be much higher than similar cost gas (ICE) vehicles.
It might be more an issue of purchase price (the Tesla model S starts around $75,000), or perhaps a model more likely to be stolen, or more likely to be driven hard. I doubt the ID.4 would fall into any of those categories. Of course it is a $40k+ car, so insurance will take possible replacement cost into account.
The traction battery (the high voltage battery) has such a long warranty these days on the website, usually at least 8 years, I think it is less of a concern as to insurance.
I would say you're unlucky. My ID.4 was only a relatively small amount more than my prior ICE and that had more to do with our ever escalating comprehensive rates (personal injury, etc.).
I remember saying to my USAA agent when they quoted me the ID.4 premium "wow, that's not bad at all." To which they replied "we try to take care of our customers, especially our very long term loyal ones."
In the USA our local Commonwealth/State plays a major role in setting rates so even here some "luck" is involved.
I remember saying to my USAA agent when they quoted me the ID.4 premium "wow, that's not bad at all." To which they replied "we try to take care of our customers, especially our very long term loyal ones."
In the USA our local Commonwealth/State plays a major role in setting rates so even here some "luck" is involved.
Can only find old posts about this, but despite statements to the contrary from online searches, it's expensive! I will be paying over 100% more for my new Tesla model 3 v my old BMW 520d. I've done the comparison sites and Direct Line, but it's going to cost lots to be environmentally friendly. :'( Have others found the same or am I unlucky?
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