There are many great reasons to buy an EV. However, it is important to note that you will need to pay additional costs not only to purchase your car but also to insure it.
Understanding How EV Insurance Works
Auto insurance for an EV works the same way as insurance for gas-powered vehicles. You do not need to purchase a specialized policy to get coverage. However, insurers typically charge higher premiums for EV insurance for several reasons.
Vehicle Cost
The more valuable a vehicle is, the more it costs to insure. EVs are often (but not always) more expensive than gas-powered vehicles, which increases insurance costs.
Repair and Replacement Costs
Asheville is home to nearly 95,000 people, but finding a mechanic who specializes in repairing or replacing EV parts can still be challenging. Additionally, EV batteries are so expensive that replacing them may cost more than buying a new EV. These factors contribute to higher insurance premiums, especially since many EV owners wisely choose to add battery insurance to their auto insurance policy.
Safety Concerns
Accidents involving EVs are often more severe than those involving gas-powered cars. EVs are quiet, which can make it difficult for pedestrians and other drivers to hear them approaching. If the battery explodes during a crash, it can cause a long-lasting fire that releases toxic fumes into the air. Furthermore, the heavier weight of an EV compared to a gas-powered car can result in additional injuries and property damage.
Contact Asheville Insurance Center for EV Insurance
Asheville Insurance Center in Asheville, NC is a family-run business that works with leading carriers to help you find great deals. Call us today to learn more about our auto insurance options or to request price quotes.
