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Electric Car Insurance

  • Tabitha Naylor
  • October 8, 2013 6:27 AM
  • 1 Comments

ELECTRIC CAR INSURANCE

One of the most environmentally responsible things that people are doing today is investigating the possibility of buying their very own green car. Now before you dismiss this as some sort of pseudo-hippy fad (but really, would that be SUCH a bad thing?), consider some facts. With each passing year, the technology that governs electric cars becomes more experienced, more sophisticated and much more relevant. Electric car may not take over the market share as far as vehicles are concerned, but theirs is a strongly carved niche, with ever-growing interest. Apart from the natural novelty that naysayers attribute to these cars, fuel prices continue to remain volatile, with a penchant for rising, and electric cars do pose a more cost effective alternative.  If we were to get into some of the nitty gritty, from a global perspective, we’ve been monitoring the political tension that seems to be happening in oil-producing states and regions around the world. This translates to the consumers as diminished availability and higher prices at the gas stations.  So now that you have enough impetus to do your own research into electric car ownership for yourself, it’s time to look at some points on electric car insurance and how to make sure it’s affordable for you:

  • Wherever possible, pay your car insurance premium upfront. Your car insurance premium can quickly morph and take the appearance of a loan, if you try to set up a direct debit for the coverage. Of course, this point is only valid to those who have the positive cash flow to afford it, but if you can, pay up everything you can from the get go.
  • The addition of a named driver to your policy can significantly diminish the cost of your electric car insurance premium. This works out well if you as the car owner happen to be someone younger. If you add a more seasoned driver, like a parent, to your policy, you’ll be able to experience these savings. It should be noted however, that if you are the primary car driver, you must also be the primary policyholder. “Fronting” invalidates coverage.
  • The entire reason you have a car, is to facilitate getting from point A to point B, with a greater sense of independence. If you don’t have to use your car that much and you’re a low to moderate miles driver, you can enjoy a decrease in the amount you pay for your coverage. When you limit your mileage, it means you drive less and are therefore less prone to be in/cause an accident. Your car insurance provider will happily reflect that in your premium costs, once the proposed mileage figure you give to them is accurate.
  • Now this may seem a little invasive, but if you’re a responsible driver with nothing to hide, you’ll benefit more than you know. Look into getting a telematics insurance policy, whereby you would have a black box installed in your car. It will monitor your driving behavior, and as such your car insurance provider will reward you with decreased premiums.

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