The popularity of electric vehicles (EVs) is on the rise. EVs offer a clean, sustainable alternative to traditional gas-based cars. But what happens when your EV needs repairs? How much does comprehensive coverage for electric vehicles cost? And what does it cover?
What Is Comprehensive Coverage for Electric Vehicles?
Comprehensive coverage protects your EV from non-collision dangers like theft, vandalism, hitting a deer or natural disasters -fires, floods, hurricanes, hails, tornadoes, earthquakes-, within others. This coverage option is not required by law, but if you have a loan from your EV, you will need to add comprehensive along with collision coverage.
What's Covered?
As we explained above, comprehensive coverage typically covers many sorts of non-collision dangers for EV, as follows:
Natural Disasters: If you live in one Florida or California, you already know natural disasters happen so often. Comprehensive coverage will protect your EV against floods, fires, earthquakes, or hurricanes damages caused.
Theft and Vandalism: If your EV has been stolen or it receives damage caused by vandalism, such as your ex-couple wants revenge, comprehensive will cover your EV repair bills and replacements.
Falling Objects: We all know falling objects like hails will destroy your EV’s hood, windshield, and the entire car’s body. In that sort of scenario, comprehensive coverage will protect your vehicle, and it will pay your EV’s repair bills.
Animal Damage: If you live in Pennsylvania, you know what this means for your car. You’re driving on the road. Suddenly, a deer appears, so you blow the horn hoping the deer flees, but it causes the opposite situation. The deer thinks you’re a threat to the rest of the deer, so it goes toward your EV, destroying your car’s hood. In that case, comprehensive coverage will cover your repair bills.
Fire and Explosion: We all know what’s happening in California, in Tara. That fire has been active for 191 days, or another fire in route 97. Imagine that fire would happen next to your car. In that case, your comprehensive coverage will cover fire damage. If an explosion occurs next to your EV, it will be covered.
What's Not Covered?
While comprehensive coverage for EVs offers a lot of protection, there are some things it won’t cover. Foe example:
Collision: Comprehensive coverage will never cover damage caused by a collision with another vehicle or object. You can always add collision coverage for that.
Wear and tear: Comprehensive coverage won’t cover the damages caused by normal daily use of your EV.
Racing: Comprehensive coverage will never cover your vehicle when you use it in a designed location for compeet or race with your EV.
Intentional Damage: If you intentionally cause damage to your EV to get paid by your insurance, your car insurer adjuster will found out, and your comprehensive coverage policy won’t cover the repairs or replacement expenses.
How Much Does Comprehensive Coverage for Electric Vehicles Cost?
Many factors will affect on your EV’s comprehensive coverage costs, such as:
Your zip code: Each state have their own laws, each of them will request you different amount of coverage limits or coverage options to legally drive in their roads. In addition, if car insurer finds many accidents claims were filed in your zone, that will also affect on your comprehensive coverage premiums for your EV.
Your Driving records: This is one of the most important factors that will make you pay more or less for your EV’s comprehensive coverage. For example, someone who has a DUI in their driving record will pay up to 160% more premiums than someone with a clean record.
Your EV: The cost of comprehensive coverage also depends on the make and model of your EV. Generally, more expensive EVs will require more expensive coverage.
Your claim history: the more claims you file, the more your EV’s comprehensive coverage will cost.
Your age, gender, marital status: Age is also an important factor to calculate your rates, the younger you are, the less driving experience you have, making you paying more expensive premiums than a 40-year-old driver. Stadistically, female drivers pay 12% less than male drivers, and our marital status will also affect on our premiums, someone who is married will pay less than someone who is single, divored or widow.
Based on the National Association of Insurance Commissiones website, on average, comprehensive coverage costs $180 per year.
Conclusion:
Comprehensive coverage is the best option when buying a new EV, this coverage option will protect your EV against non-collision dangers like theft, vandalism, natural disasters, among others. Remember, comprehensive coverage won’t cover everything for your EV like collision or intentional damage. It’s also important to understand all factors that would affect on your EV comprehensive coverage premiums such as, your EV’s make and model, your driving records, your zip code or your claim history, within others.
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