Cheapest Insurance Quotes for Electric Cars in Florida

The words “bargain” and “insurance” probably shouldn’t be used in the same sentence, specifically when you are trying to find the cheapest auto insurance for electric cars. Because of the high cost, let’s learn about a few of the things that influence insurance premiums, and see if we can help you lower the price of your next policy.

The vehicle model to be insured is probably the most important factor when looking for the cheapest insurance for electric cars in Florida. Vehicles with high performance engines, poor safety features, or high incidents of liability claims will cost much more to insure than safer models.

The data below showcases coverage costs for the most economical vehicles to buy insurance for.

Prices above based on married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-policy, and multi-vehicle. Estimates do not factor in garaging location in Florida which can revise rates greatly.

Data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Prices do not factor in zip code location which can lower or raise premium rates significantly.

Data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Prices do not factor in the specific area where the vehicle is garaged which can affect coverage rates considerably.

Locating budget car insurance is challenging, and determining which insurers offer the most affordable insurance rates for electric cars takes more quotes for comparison.

Each auto insurance company has a unique formula to determine premium rates, so let’s begin by examining the lowest cost insurance companies in Florida. It’s important that you understand Florida insurance rates are influenced by many factors that may substantially change the cost of having a policy. Improving your credit score, buying a newer car, or getting a reckless driving citation can cause premium changes resulting in some rates now being more expensive than competitors.

Best Auto Insurance Prices for EV’s

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USAA generally has some of the lowest car insurance rates in Florida at around $948 per year. Electric, Amica, Progressive, and Travelers also are some of the cheaper Florida car insurance companies.

As the rates illustrate above, if you currently buy coverage from Travelers and switched to Electric, you might realize a yearly savings of in the vicinity of $180. Florida drivers with Mercury may save as much as $187 a year, and Allied customers might cut rates by $258 a year.

To see if your current coverage is too expensive, click here to get a free quote or visit any of the companies below.

Bear in mind that those estimates are averaged across all types of drivers and the different vehicles they drive and are not factoring in a price discount for electric cars. So the car insurance company that can offer the best rates for your situation may not even be in the rate chart shown above. That affirms the importance of why you need to get rate quotes using your own specific driver information and vehicle.

The diagram below illustrates how your deductible choice can change insurance premiums when searching for cheap insurance for electric cars. The prices are based on a married female driver, comprehensive and collision coverage, and no discounts are taken into consideration.

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In the chart above, a 40-year-old driver could reduce rates by $384 a year by switching from a $100 deductible to a $500 deductible, or save $578 by using a $1,000 deductible. Youthful drivers, like the Age 20 category, could shave $952 or even more by using a higher deductible.

When using a larger deductible, it is essential to have enough savings to be able to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.