Typical EV premiums run from $1600-$5000+ a year - 19% above the national average. Outlets have gone so far as to name this a roadblock to EV adoption. EVs are safer vehicles to drive, usually equipped with high tech collision avoidance systems, autopilots, tracking devices and other safety features. So why do insurance companies charge higher premium for vehicles that are less risky to insure? We think it’s because carriers do not understand the risk enough to properly underwrite these policies.
The data however shows electric vehicle owners are safer drivers, file less non accident-related claims - which is why electrade was created to pass on the savings to you. You can get a quote here.
We offer lower rates and better service by only allowing next-generation, low-risk, high-safety vehicles with high levels of driver assist into our portfolio, cutting out traditional brick-and-mortar presence and leveraging technology to offer excellent online service and fast turnarounds for claims with our insurance partners.
We provide insurers with the data they need in order to be able to package the right products tailored to the needs of EV owners at a price that makes EV ownership less costly and more convenient!