In today’s world, more and more consumers are making the decision to purchase electric vehicles. Reasons include the lean towards the features that are environmentally-friendly, the desire to experience the newest technology, and the fuel savings associated with the vehicle.
If you have an interest in an electric vehicle, it is essential that you learn about the benefits associated with the product and that you understand the insurance costs.
What Is an Electric Car?
An electric car is a specially-designed automobile that functions through – at least – one electric motor that utilizes energy from batteries that are placed within the vehicle. To charge, the vehicle is plugged directly into a charge point, which is connected to an electrical grid.
These vehicles have a faster acceleration point than conventional vehicles that utilize fuel-based engines. This type of vehicle does not require gears. There is only one gear.
What Are the Benefits of an Electric Car?
The following outlines the main benefits of owning an electric car:
- It is no longer necessary to purchase or utilize fuel from gas stations. The vehicle obtains its energy from charging stations. There are charging stations available in most communities; however, many electric car owners have these stations placed at their home.
- Electric cars do not release any type of emissions. As a result, your carbon footprint associated with transportation is drastically reduced.
- Emissions not only negatively impact the environment; they negatively impact your health, too. These contain a wide variety of carcinogens that are extremely dangerous. By having an electric car, you will avoid breathing in various organic compounds, the carbon oxides, and other particulate forms of matter that are extremely dangerous.
- The technology associated with the batteries that are used in electric vehicles extends the overall life of those products up to 15 years. The life of these batteries far extends that of batteries that are used in conventional vehicles that are dependent on fuel.
- Electric vehicles require significantly less maintenance. Owners no longer have to concern themselves with oil changes, radiator hoses, belts, gaskets, and other internal components that often must be replaced in fuel-based engines.
How Much Does Insurance Cost for Electric Cars?
Currently, insurance for electric cars is a little more expensive than that of insurance to cover fuel-powered cars. Depending on the model that you own, the 6-month premium may be as low as $700 or as high as $1,670. For example, the electric smart EQ fortwo pure is on the low side, but the Tesla Model X is on the high side.
There are tax incentives for electric car owners. As time progresses, car insurance companies are looking to integrate discounts and incentives for electric cars. By the time that you read this, many may already have incentives and discounts available.
If you are in search of insurance for your electric car, contact us here at Modica Associates today by calling: 718-855-1836