Who Has Cheap Insurance Quotes for Electric Cars in Virginia?

Whenever people write about car insurance, the words cheap or affordable should never appear as a descriptor for auto insurance rates. Unfortunately, cheap car insurance for electric cars is pretty hard to find. Don’t let that get you down, though, because we can show you some ways you can find and buy car insurance that is considered budget-friendly.

For eco-friendly vehicles, one of the largest factors that aid in calculating rate quotes is where you keep your vehicle in Virginia. Areas that are more densely populated or have higher claim rates like Burke, Centreville, and Richmond tend to pay more, whereas cities that are not as densely populated have the luxury of cheap insurance for electric cars in Virginia.

The following table sorts the most expensive areas in Virginia for electric cars to buy auto insurance in.

Information shown are estimated as the garaging address in Virginia can revise premium rates considerably.

The car, truck, or SUV that is being insured is probably the biggest factor when trying to find the lowest-priced coverage for electric cars. Vehicles with reasonable performance levels, good safety features, or a low likelihood of having liability claims will cost less to insure than adrenaline junky models. The data below features insurance rates for a handful of the most cost-effective automobiles to insure in Virginia.

Cost estimates assume single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Rate information does not factor in garaging location in Virginia which can raise or lower insurance rates substantially.

Based upon the table data, you can figure that models like the Chevrolet Traverse, Jeep Wrangler, Chevrolet Malibu, and Hyundai Tucson should be some of the cheapest vehicles to insure for eco-friendly vehicles.

Cost of full coverage

Finding cheap insurance for electric cars in Virginia is the goal of the majority of vehicle owners, and a good way to buy cheap insurance is to not buy comprehensive and collision coverage. The information below shows the difference between insurance prices with full physical damage coverage compared to only buying liability only. The prices are based on no claims or driving violations, $250 deductibles, single marital status, and no discounts are factored in.

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If averaged out across all ages, comprehensive and collision coverage on your policy costs $1,358 per year more than just insuring for liability. That is a significant amount which raises the question if full coverage is worth the money. There is no set guideline of when to drop full coverage, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than 10% of the settlement you would receive from your company, then you may want to consider only buying liability coverage.

There are a few cases where dropping physical damage coverage is not financially feasible. If you still have a lienholder on your title, you are required to maintain full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should maintain full coverage.

Accidents and violations increase rates

The common sense way to receive cheap insurance for electric cars in Virginia is to be a cautious driver and avoid tickets and accidents. The illustration below highlights how speeding tickets and at-fault fender-benders increase insurance premiums for each different age group. The information is based on a single male driver, full coverage, $500 deductibles, and no other discounts are factored in.

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In the prior example, the average cost of an auto insurance policy in Virginia per year with a clean driving record and no accidents is $1,334. Get one speeding ticket and the average cost jumps to $1,502, an increase of $169 each year. Now add two accidents along with the one speeding ticket and the yearly cost of car insurance for electric cars goes up to an average of $2,968. That’s an increase of $1,634, or $136 per month, just for not driving attentively!

Does Geico, Allstate, Progressive, or State Farm have the cheapest car insurance?

When researching auto insurance for eco-friendly vehicles in Virginia, four companies you’ll want quotes from are Geico, Allstate, Progressive, and State Farm. Combined they insure over 45% of all auto insurance policies in force. The next table points out some of the ratings and options shoppers can find with each company.