The year is 2018. Electric cars, which began as a concept idea at the end of the last century, are now popular vehicles that hold their own in the competitive automotive marketplace. People enjoy the low operations costs and the environmental benefits these vehicles present. These vehicles utilize electricity, as opposed to gasoline, saving the drivers headaches and money when it comes to skyrocketing gasoline prices. However, gas is not the only factor in operating costs regarding any vehicle. Registration and insurance costs play a factor in determining the savings one receives by purchasing an electric car, among other maintenance issues. Since most electric cars are small, the registration fees are typically on the lower end of the spectrum. However, insurance takes many factors into account, making the cost benefit analysis a bit more complex.

 

Pros and Cons of Electric Cars

 

Prior to determining the insurance savings regarding electric cars, it is important to understand the overall appeal and the negative aspects of using an electric car. While electric cars may be the wave of the future, considering the issues revolving around pollution and gasoline, they are not necessarily for everyone.

 

To begin, electric cars are the next stage in environmentally friendly modes of transportation. Towards the end of the 20^th century, there was an increase in hybrid vehicle production and sales. Hybrids allowed a person to benefit from gasoline while utilizing less fuel and emitting fewer pollutants into the atmosphere. The vehicles ran on an engine that combined gasoline and solar power to operate. While these vehicles were a great start, they did not make a large enough dent in the problem. Therefore, electric cars were the next logical steps. Electric cars are quick and small in size, overall. They allow you to recharge your vehicle at your home overnight or at charging stations found in many locations throughout the country. Electricity for your vehicle is often cheaper than gas, making them much cheaper to operate. And they are better for the environment as they do not have any tailpipe emissions.

 

However, they are not perfect. Some of the negatives of electric cars include:

 

• Shorter distances prior to A full tank of gas may take you over 300 miles. In contracts, a fully charged electric car may only take you 150 miles.
• Long Recharge Times. Not only will you have to recharge more often, but it will also take longer to do so. Filling up a gas tank make only take five minutes. Recharging your vehicle may take as long as half an hour or longer.
• Higher purchase costs. An electric vehicle purchase price starts at $30,000. While this may seem like an average vehicle price, a comparable vehicle that runs on gasoline will typically start around $18,000.

 

The Insurance Question

 

For those that truly care about the environment, it is clear that an electric vehicle is a good option. Actually, electric vehicles are a great option for anyone who wishes to save money while driving and stay on top of technology, all while being a good steward of the environment. The question with new modes of transportation always resorts back to insurance costs. North Carolina wants you to drive environmentally friendly vehicles. As a matter of fact, they offer insurance and tax incentives to help make the decision a little easier for anyone on the fence. Depending on your carrier, driving an electric car may actually save you 10 to 30% on the cost of your insurance premium.

 

As wonderful as this sounds, it is important to remember all of the factors that are considered when purchasing vehicle insurance in North Carolina. Some factors to consider include:

 

• Your credit score
• Your driving record
• The replacement cost of your vehicle
• Your commute to and from work
• The total miles you drive per year
• Where you live

 

The one factor that may change between an electric vehicle and a gasoline powered vehicle is the replacement cost. Since electric vehicles are typically more expensive than gasoline-powered vehicles, you may find that full coverage or theft and collision coverage may be a bit pricier than other vehicles. However, it is likely that your overall insurance costs will be the same or cheaper than insuring a non-electric vehicle, due to the North Carolina green driving incentives. The smartest way to determine your cost savings regarding your electric vehicle insurance would be to contact your insurance agent. If you are looking for an insurance agent and company you can trust to answer your questions, contact the experienced agents at Protective Agency at 877-739-9367.