The words “low-cost” and “insurance” really shouldn’t be used in the same sentence, in particular when comparison shopping for the cheapest auto insurance for electric cars. To help control this cost, let’s teach you some of the things that have a considerable impact on insurance premiums, and see if we can help you shave a little off the next policy you buy.
Figuring out which companies have the most affordable insurance rates for electric cars takes more work in order to find the lowest price. Each insurance company has their own unique process to set premium rates, so we need to take a look at the overall cheapest insurance companies in Chandler.
It’s important that readers know that Chandler, AZ insurance rates are determined by lots of factors that will increase or decrease the cost of your policy. Improving your credit rating, buying a home, or getting a speeding ticket can trigger price changes that can make some companies cheaper than competitors.
Lowest Insurance Price Quotes for EV’s
|Rank||Company||Cost Per Year|
|11||Farm Bureau Mutual||$1,247|
|Compare Rates Now Go|
The Hartford offers some of the cheapest car insurance rates in Chandler at around $836 annually. Auto-Owners, Safeco, Travelers, and USAA would also be considered some of the cheapest Chandler, AZ auto insurance companies.
As depicted above, if you buy coverage from Travelers and switched to Auto-Owners, you might realize yearly savings of in the neighborhood of $151. Insureds with USAA could save as much as $189 a year, and Progressive insureds might reduce rates by $206 a year.
To compare your rates to other Arizona insurance companies, click here to get a free quote or visit any of the companies below.
Understand that those premiums are averaged for all drivers and vehicles and do not factor in an exact zip code location for electric cars. So the company that is best for you may not even be in the top 28 companies in the list above. That’s why you need to quote rates from many companies using your own personal information and vehicle type.
One of the more important things that are looked at to help calculate the amount you pay for auto insurance is where you choose to live. Areas with more people or more claims tend to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims have the enjoyment of a little cheaper coverage.
The information below lists the most expensive areas in Arizona for electric cars to purchase car insurance in. Chandler makes the list at #7 with an annual cost of $1,126 for coverage, which is approximately $94 each month.
|6||San Tan Valley||$1,150|
|Compare Rates Now Go|
Premium amounts are estimated as zip code location can raise or lower auto insurance rates noticeably.
The diagram below illustrates how choosing a deductible can increase or decrease insurance prices when searching for cheap insurance for electric cars. The rate quotes are based on a single male driver, full physical damage coverage, and no discounts are factored in.
In the chart above, a 50-year-old driver could lower rates by $296 a year by increasing from a $100 deductible up to a $500 deductible, or save $446 by choosing a $1,000 deductible. Even younger drivers, like the 20-year-old category, could drop their prices as much as $972 annually by selecting a higher deductible.
If you do decide to increase your deductibles, it will now be necessary to have additional funds squirreled away to pay the extra out-of-pocket expense that is associated with using high deductibles.
Cost comparison with and without full coverage
Finding cheaper insurance is probably important to most people, and one way to buy cheap insurance for electric cars is to not insure for full coverage. The example below compares auto insurance rates with full coverage and liability only. The premiums assume no claims or driving violations, $100 deductibles, single status, and no other discounts are factored in.
If averaged out across all ages, comp and collision coverage costs $1,722 per year more than buying just liability insurance. At some point, about every driver wonders if physical damage coverage is worth the money. There is no written rule to drop comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is about 10% or more of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.
There are some situations where dropping full coverage is not advised. If you haven’t paid off your loan, you must maintain physical damage coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not consider dropping full coverage.
How to find economical car insurance for electric cars
Lowering your rates is not difficult, and here are some of the better penny-pinching solutions that can help you locate cheaper coverage.
- Do not get tickets or violations
- Pay lower rates with good credit
- Safe vehicles generally have lower rates
- Do not waste money insuring older vehicles for full coverage
- Being accident-free can lower rates significantly
- Increase your physical damage deductibles
- Compare rates and switch if you can find a better deal
The last tip is remarkably critical, as we stressed in this piece. Auto insurance rates change a lot, so don’t be afraid to switch carriers if a lower price can be found.
Sticking with a specific company is fine, but is isn’t recommended if that faithfulness ends up costing you a fortune every year. Now is a great time to compare rates and find cheaper car insurance for electric cars in Chandler.
If you like to have a consultation when trying to find lower insurance rates for eco-friendly vehicles, the agencies below are willing to provide answers to your questions and help you determine which insurance coverage will be best for you.
To find an auto insurance agency in your neighborhood, click the button below the list.
Farmers Insurance – Larry Little
2420 W Ray Rd #2 – Chandler, AZ 85224 – (480) 966-9449
Farmers Insurance – Alan Beyerle
1820 E Ray Rd a213 – Chandler, AZ 85225 – (480) 820-2797
American Family Insurance – Craig Lloyd
1801 W Queen Creek Rd #1 – Chandler, AZ 85248 – (480) 899-8549