Florida Auto Insurance for your Electric Vehicle

Florida Auto Insurance for your Electric Vehicle

Florida Auto Insurance for your Electric Vehicle

Not surprisingly, the environment is on more and more people’s minds these days. Millions of people are looking for ways that they can reduce, reuse and recycle. Here at B&B Insurance, a full-service home-health-life and auto insurance agency in Lantana, Florida, we’ve noticed more and more people are considering making the switch to an electric vehicle. 

There’s a lot to think about before giving up your gas-powered car. Will you be able to get where you need to go on a single charge? Will there be charging stations available when you’re on the road? And, of course, how much will it cost to get auto insurance in Florida?  

Auto Insurance for Electric Vehicles

According to One Inc Systems, you may have to pay a little more to insure your electric car. “The findings showed that if consumers are paying an annual premium of $1,000 for a gas car, they should expect to pay anywhere from $1,180 to $1,320 a year for the electric version — an average 23% price differential,” they report.

Of course, whether you live in Lake Placid, New York or Lake Worth Beach Florida, auto insurance isn’t the only cost you’ll want to take into account if you’re weighing the pros and cons of buying an electric vehicle. 

Operating Costs for Electric Vehicles 

AAA has released new research that compares the ownership costs of electric and gas-powered cars in several different areas. Among their findings: 

  • Electric vehicles do not require as much maintenance as gas-powered cars since they do not need oil changes or air-filter replacements. 
  • If maintained according to the automakers’ recommendations, electric vehicles cost $949 per year, which is $330 less than a gas-powered car.
  • Over five years and 75,000 miles of driving, the cost to own a new compact electric vehicle is $7,704/annually, which is $590 or 8% more per year than a comparable gas-powered car.
  • The electricity required to drive 15,000 miles/year in an electric vehicle costs an average of $546, while the amount of gas required to drive the same distance costs $1,255, or 130% more.

When it all adds up, that electric car might be a better deal than you first thought. But only you can make the big decision. Car ownership is a very personal choice in our society. The good news is that, whether your priorities are the environment, the bottom line, safety or performance, you can find great new and used car deals. 

And you can count on independent car insurance agency in Lantana to help you find the best Florida auto insurance coverage for your needs.

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