Carrier vs. Carrier Comparisons
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The best car insurance companies for electric vehicles are Geico, USAA, and Progressive, with USAA offering the lowest rates starting at $58/month.
These providers excel in balancing affordability, comprehensive coverage, and tailored electric vehicle (EV) insurance.
| Company | Rank | Bundling Discount | A.M. Best | Best For | Jump to Pros/Cons |
|---|---|---|---|---|---|
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#1 | 25% | A++ | Affordable Rates | Geico |
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#2 | 10% | A++ | Military Families | USAA |
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#3 | 10% | A+ | Flexible Plans | Progressive |
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#4 | 25% | A+ | EV-Friendly Policies | Allstate |
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#5 | 25% | A | Comprehensive Policy | Liberty Mutual |
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#6 | 13% | A++ | Competitive Rates | Travelers |
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#7 | 20% | A | Insurance Discounts | Farmers |
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#8 | 20% | A+ | Replacement Coverage | Nationwide |
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#9 | 17% | B | Reliable Coverage | State Farm |
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#10 | 5% | A+ | Tailored Policies | The Hartford |
Whether you're looking for budget-friendly options or extensive protection, these companies provide top-tier insurance coverage for electric vehicles.
When you’re ready to see how much you can save on your EV car insurance, enter your ZIP code above into our free comparison tool.
What You Should Know
- USAA offers the lowest rates from $58/month, making it the top pick for EVs
- Electric vehicle insurance offers specialized discounts and flexible plans
- Geico is the top pick for affordable and tailored electric vehicle insurance
#1 – Geico: Top Overall Pick
Pros
- Affordable EV Insurance: Geico offers some of the most affordable rates for electric vehicle insurance, starting as low as $60/month.
- Bundled Savings on Premiums: Read our Geico renters insurance review to learn how to get cheaper insurance rates for EVs by bundling policies.
- Broad Accessibility: Geico’s low rates are available across all 50 states, ensuring widespread access for electric vehicle insurance.
Cons
- Less EV Expertise: Geico is not known for a deep focus on electric vehicles, so its customer service may not be as knowledgeable about EV-specific needs.
- Potential Gaps in Advanced Repairs: Geico lacks comprehensive coverage for specialized electric vehicle repairs.
#2 – USAA: Best for Military Families
Pros
- Extensive EV Coverage: USAA provides in-depth coverage that addresses various aspects of electric vehicles.
- High-Quality Protection: USAA offers superior protection for both common and unique electric vehicle components.
- Dedicated Discounts: Special discounts tailored specifically for electric vehicle owners in the military enhance savings. For a complete list, read our USAA review.
Cons
- Restricted Coverage Area: USAA’s insurance coverage might not extend to every state or region, particularly for electric vehicles in remote areas.
- Fewer EV-Specific Perks: USAA doesn’t offer as many perks or unique features tailored specifically for electric vehicles.
#3 – Progressive: Best for Flexible Plans
Pros
- Adaptable EV Insurance: Progressive’s flexible plans allow customization based on specific electric vehicle needs.
- Versatile Coverage Options: Read our review of Progressive to learn how Progressive Snapshot usage-based coverage reduces EV car insurance rates.
- Customizable Add-Ons: Progressive insurance add-ons are designed to enhance coverage for electric vehicle models.
Cons
- Variability in Service Quality: Customer service experiences can vary, impacting support for electric vehicle concerns.
- Rate Increases at Renewal: EV drivers report that Progressive raises rates at renewal more than other companies, even after discounts.
#4 – Allstate: Best for EV-Friendly Policies
Pros
- Dedicated EV Policies: Allstate offers policies specifically designed with electric vehicles in mind. Read our Allstate review for a full list.
- Forward-Thinking Features: Allstate policies include innovative features that cater to the unique aspects of electric vehicles.
- Advanced Safety Feature Savings: Electric vehicle drivers can benefit from Allstate’s discounts for cars equipped with advanced safety features.
Cons
- Not Available Everywhere: Allstate's EV-friendly policies may not be available in all areas, limiting access for some electric vehicle owners.
- Limited EV Add-ons: Allstate’s range of EV-specific add-ons, such as roadside assistance tailored for electric vehicles, is less comprehensive.
#5 – Liberty Mutual: Best for Comprehensive Policies
Pros
- Tailored Add-Ons: Provides optional add-ons that specifically address electric vehicle requirements. Read our Liberty Mutual review to learn what else is offered.
- Comprehensive EV Insurance: Liberty Mutual offers extensive coverage options for electric vehicles, including full coverage and original car replacement.
- EV Expertise in Claims: Liberty Mutual has experience handling electric vehicle claims, making it easier for EV owners to process repairs.
Cons
- Inconsistent Customer Service: Customer service experiences can vary, which might affect electric vehicle insurance management.
- Availability Issues: Coverage might not be available in all areas, potentially limiting access for some electric vehicle owners.
#6 – Travelers: Best for Competitive Rates
Pros
- Cheap EV Insurance Travelers is one of the cheapest auto insurance companies for electric vehicles. Rates start at $66/month.
- Discounts for EVs: Travelers providers specific insurance discounts for electric vehicles, which can lower your premiums. Find out more in our Travelers review.
- Flexible Deductibles: It offers customizable deductibles, allowing EV owners to adjust premiums according to their budgets.
Cons
- Limited Discounts: Despite competitive EV insurance discounts, Travelers doesn't offer as many car insurance discounts as other companies.
- Varied Customer Service: Drivers in some states report poor Travelers customer service when filing electric car insurance claims.
#7 – Farmers: Best Car Insurance Discounts
Pros
- Flexible Policy Adjustments: Allows adjustments to coverage levels and limits, catering to the evolving needs of EV owners.
- Comprehensive Discount Options: Farmers has a long list of car insurance discounts for electric vehicles.
- Strong Reputation: Farmers EV insurance is known for reliable and customizable insurance solutions, which you can learn about in our Farmers review.
Cons
- Complex Customization: Customizing plans can be complex and may require more time and effort to find the optimal coverage for EVs.
- Regional Differences: Customizable plans may vary based on location, affecting the consistency of coverage for electric vehicle owners.
#8 – Nationwide: Best for Replacement Coverage
Pros
- Replacement Coverage: Nationwide offers replacement coverage, providing a new vehicle if your electric car is totaled.
- High-Quality Customer Service: Nationwide is known for reliable customer service, which can be valuable for electric vehicle owners needing support.
- Advanced Technology Discounts: Offers discounts for advanced safety features commonly found in electric vehicles. Discover our Nationwide review for a full list.
Cons
- Limited Customization: Nationwide replacement coverage may not be as customizable as other insurace companies for electric cars.
- Customer Service Variability: The quality of customer service may vary, impacting the support you receive for your electric vehicle.
#9 – State Farm: Best for Reliable Coverage
Pros
- Reliable Coverage: State Farm offers reliable coverage for electric vehicles, ensuring your EV is well protected. Read our review of State Farm for full details.
- Excellent Customer Support: State Farm is known for responsive and helpful customer service when it comes to EV car insurance.
- Proven Track Record: Known for their reliability, State Farm has a strong reputation for handling insurance claims for electric vehicles.
Cons
- Standardized Policies: Its standardized policies may not fully address the unique needs of electric vehicle owners.
- Complex Claims Process: The claims process could be complex for electric vehicles, potentially causing delays.
#10 – The Hartford: Best for Tailored Policies
Pros
- Adaptable Policy Terms: The Hartford policies offer adaptable terms to accommodate the evolving technology of electric vehicles. See our The Hartford review for details.
- Focused Expertise: The Hartford demonstrates a strong focus on electric vehicle insurance, offering expertise and relevant coverage options.
- Discount Opportunities: Take advantage of various discounts specifically for electric vehicle owners, making insurance more affordable.
Cons
- Availability Concerns: Tailored policies for electric vehicles are only available to senior drivers with AARP memberships.
- Policy Complexity: The detailed nature of tailored policies could result in complexity and difficulty understanding the full scope of coverage for electric vehicles.
Cheap Car Insurance Rates for Electric Vehicles
Compare EV car insurance rates below. USAA leads the way, offering the lowest minimum coverage at $58 monthly and full coverage at $130/month.
| Insurance Company | Minimum Coverage | Full Coverage |
|---|---|---|
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$67 | $148 |
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$69 | $146 |
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$60 | $135 |
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$68 | $150 |
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$64 | $142 |
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$65 | $145 |
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$63 | $140 |
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$62 | $139 |
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$66 | $147 |
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$58 | $130 |
However, cheap USAA car insurance for electric vehicles is only available to military members. Geico follows with competitive monthly rates for most drivers at $60 for minimum coverage and $135 for full coverage.
Other insurers like Allstate, Farmers, and Liberty Mutual have varying monthly EV rates, with minimum coverage from $67 to $69 and full coverage from $146 to $150.
Read More: Best Low-Mileage Car Insurance Companies
Cutting Car Insurance Costs for Electric Vehicles
To find the best coverage for your electric vehicle, compare insurance rates and discounts from top providers. USAA leads with the lowest rates for both minimum and full coverage, while Geico offers competitive alternatives.
Our table highlights key savings opportunities, including multi-policy, safe driver, and electric vehicle discounts from leading insurers like Allstate, Geico, and USAA.
Reducing the cost of car insurance for electric vehicles can be achieved through several effective strategies. For instance, choosing the right coverage by considering minimum liability vs. full coverage EV insurance and adjusting your deductible to lower your premium.
Take advantage of flexible plans and usage-based insurance options where available, especially if you're a low-mileage driver. Progressive Snapshot usage-based coverage can help lower EV auto insurance rates.
Regularly review your policy to ensure it meets your needs and explore company-specific programs for further savings. Maintaining a good credit score can also help lower your EV insurance costs.
Top Car Insurance Picks for Electric Vehicles
The best car insurance companies for electric vehicles are Geico, USAA, and Progressive. USAA offers the lowest rates from $58/month, but Geico and Progressive have cheap rates and affordable usage-based coverage for EV drivers.
To get cheap car insurance, explore EV-specific discounts, choose the right coverage, and utilize flexible plans. Regularly review your policy and adjust deductibles for additional savings.
Compare quotes using our free tool to find the best coverage and rates for your electric vehicle. Enter your ZIP code below to find which companies have the lowest rates.
Frequently Asked Questions
What factors affect car insurance rates for electric vehicles?
Electric vehicle insurance rates are influenced by the vehicle’s make and model, safety features, the driver’s location, driving history, and the insurance provider’s specific policies. Additionally, electric vehicles might benefit from discounts due to their advanced safety technologies and lower repair costs.
How can I save money on car insurance for my electric vehicle?
To save money, look for discounts specifically for electric vehicles, bundle your insurance with other policies, maintain a good driving record, and choose a higher deductible. Compare car insurance quotes from multiple providers to find the best rates and take advantage of any available EV-specific discounts.
Are there any discounts available for electric vehicle owners?
Yes, the best and cheapest car insurance companies offer discounts for electric vehicles. These can include discounts for having a low mileage, for using advanced safety features, or for bundling your car insurance with other types of insurance policies. Check with your insurer for specific discounts.
Is it more expensive to insure an electric vehicle compared to a traditional car?
Insurance costs can be higher for electric vehicles due to their higher repair costs and specialized parts. However, some providers offer lower rates due to the advanced safety features and lower risk of theft associated with electric vehicles. It’s best to compare rates from different insurers to find the most cost-effective option.
Can I get insurance for a used electric vehicle?
Yes, you can get insurance for a used electric vehicle. The process is similar to insuring a new vehicle, though rates may vary based on the vehicle’s age, condition, and safety features. Ensure that the policy you choose provides adequate coverage for your used electric vehicle.
What should I consider when choosing insurance coverage for my electric vehicle?
Consider factors such as the type of coverage (minimum vs. full coverage), insurance deductibles, and any specific discounts available for electric vehicles. Evaluate the insurer’s reputation, coverage options, and customer service. Ensure the policy covers the unique needs of your electric vehicle.
Are there insurance providers that specialize in electric vehicle coverage?
Some insurance providers offer specialized coverage for electric vehicles, including tailored policies and discounts. Providers like Geico, USAA, and Progressive are known for offering competitive rates and comprehensive coverage options for electric vehicles.
How do safety features in electric vehicles impact insurance rates?
Safety features such as automatic emergency braking, lane-keeping assist, and advanced airbag systems can positively impact insurance rates. These features can reduce the risk of accidents and injuries, potentially leading to lower premiums.
What is the difference between minimum coverage and full coverage for electric vehicles?
Minimum coverage typically includes liability insurance, which covers damage or injury to others in an accident you cause. Full coverage includes additional protection such as collision and comprehensive coverage.
How often should I review my car insurance policy for my electric vehicle?
It’s a good idea to review your car insurance policy annually or whenever you experience significant changes, such as purchasing a new vehicle, moving to a new location, or altering your driving habits. Regular reviews help ensure that your coverage remains adequate and cost-effective.