Wouldn’t this article be short if we could just tell you the one company that has the best deal on coverage for electric cars? That is not the case, however, as there are a lot of unknown elements such as whether or not you have had gaps between policies, the area where you live, the amount of liability insurance you need, and the annual mileage you drive, that all impact the price you pay. In this article, we will cover the best ways to avoid overpriced car insurance and hopefully give you enough understanding to have a solid foundation to find cheaper car insurance.
One of the more important considerations that help determine the price you pay for insurance is where you choose to live. Larger areas likely pay more, whereas areas with lower crime rates and fewer weather claims have the benefit of cheaper auto insurance prices.
The next table ranks the highest-priced areas in California for electric cars to purchase a policy in. Oakland is ranked #4 with a yearly cost of $1,704 for car insurance, which is around $142 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Los Angeles | $2,168 |
| 2 | Glendale | $2,121 |
| 3 | San Francisco | $1,763 |
| 4 | Oakland | $1,704 |
| 5 | Sacramento | $1,652 |
| 6 | San Bernardino | $1,628 |
| 7 | Santa Clarita | $1,580 |
| 8 | Fontana | $1,566 |
| 9 | Long Beach | $1,562 |
| 10 | Stockton | $1,541 |
| 11 | Riverside | $1,527 |
| 12 | Garden Grove | $1,508 |
| 13 | Moreno Valley | $1,506 |
| 14 | Modesto | $1,502 |
| 15 | Anaheim | $1,474 |
| 16 | Fresno | $1,472 |
| 17 | Santa Ana | $1,439 |
| 18 | San Jose | $1,381 |
| 19 | Bakersfield | $1,381 |
| 20 | Huntington Beach | $1,360 |
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Premium amounts are estimated as specific location information can raise or lower price quotes considerably.
The vehicle model that needs insurance is one of the largest factors when shopping for affordable auto insurance for electric cars. Vehicles with average performance, an excellent safety record, or a positive history of liability claims will cost less to insure than higher performance models. The list below showcases insurance costs for some of the cheaper automobiles to buy coverage for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra SE Touring Station Wagon | $1,443 |
| Honda CR-V LX 2WD | $1,456 |
| Toyota Prius | $1,474 |
| Ford Escape Limited 2WD | $1,489 |
| Ford Focus SEL 4-Dr Sedan | $1,630 |
| Ford F-150 XL Super Cab 2WD | $1,653 |
| Toyota Camry XLE | $1,658 |
| Toyota Corolla XLE | $1,664 |
| Chevrolet Malibu LS | $1,729 |
| Ford Edge SEL AWD | $1,736 |
| Honda Civic GX 4-Dr Sedan | $1,744 |
| Ford Explorer Limited AWD | $1,762 |
| Dodge Grand Caravan SXT | $1,768 |
| Hyundai Sonata SE 4-Dr Sedan | $1,770 |
| Chevrolet Equinox LS AWD | $1,775 |
| Toyota RAV4 Sport 4WD | $1,783 |
| GMC Sierra Denali Crew Cab 4WD | $1,804 |
| Honda Odyssey EX-L W/Navigation | $1,822 |
| Dodge Ram 3500 Crew Cab Laramie 2WD | $1,835 |
| Nissan Rogue S 2WD | $1,848 |
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Data variables include single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Table data does not factor in specific location which can decrease or increase premiums substantially.
Based on these rates, we can tell that cars like the Hyundai Elantra, Honda CR-V, Toyota Prius, and Ford Escape are most likely going to be the most economical vehicles to insure for eco-friendly vehicles.
Establishing which company offers the cheapest car insurance rates for electric cars may require a little more sweat than just quoting one company’s rates. Each company uses different criteria for setting rates, so we will examine the car insurance companies with the overall best prices in Oakland.
Keep in mind that Oakland car insurance rates are impacted by many factors that control the price of coverage. Turning one year older, moving across town, or getting a reckless driving citation can trigger price changes that can cause some rates to be cheaper than competitors.
Best Car Insurance Prices for EV’s
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,109 |
| 2 | Wawanesa | $1,192 |
| 3 | CSAA | $1,198 |
| 4 | Nationwide | $1,226 |
| 5 | Century National | $1,226 |
| 6 | 21st Century | $1,366 |
| 7 | Grange | $1,433 |
| 8 | Mercury | $1,488 |
| 9 | Allstate | $1,497 |
| 10 | Allied | $1,556 |
| 11 | Progressive | $1,558 |
| 12 | GEICO | $1,559 |
| 13 | The Hartford | $1,591 |
| 14 | MetLife | $1,638 |
| 15 | Unitrin | $1,699 |
| 16 | Esurance | $1,705 |
| 17 | State Farm | $1,733 |
| 18 | Travelers | $1,788 |
| 19 | Bristol West | $1,849 |
| 20 | Farmers | $2,026 |
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USAA may offer some of the lowest car insurance rates in Oakland at around $1,109 each year. Wawanesa, CSAA, Nationwide, and Century National also qualify as some of the cheapest Oakland, CA insurance companies.
In the above example, if you currently have coverage with Nationwide and switched to USAA, you could earn a yearly savings of roughly $117. Policyholders with Century National could save as much as $117 a year, and 21st Century customers might reduce rates by $257 a year.
These rates are averaged across all drivers and vehicles in California and do not factor in an exact vehicle garaging location for electric cars. So the company that has the lowest price for you may not even be in the top 24 companies shown above. That points out the importance of why you need to get car insurance quotes using your own individual information.
Types of discounts on Oakland auto insurance
Insurance providers that offer coverage for electric cars may have policy discounts that could lower prices by 40% or more if you meet specific criteria. Companies and some of their more popular discounts are:
- Travelers discounts include IntelliDrive, student away at school, multi-policy, save driver, good student, early quote, and hybrid/electric vehicle.
- 21st Century may include discounts for anti-lock brakes, automatic seat belts, defensive driver, teen driver, air bags, and 55 and older.
- State Farm has savings for accident-free, student away at school, multiple policy, Drive Safe & Save, passive restraint, and safe vehicle.
- GEICO offers premium reductions for anti-theft, driver training, anti-lock brakes, military active duty, air bags, and seat belt use.
- SAFECO policyholders can earn discounts including drive less, anti-lock brakes, teen safe driver, safe driver, accident prevention training, and multi-car.
- AAA may have discounts that include multi-policy, anti-theft, pay-in-full, multi-car, AAA membership discount, and good student.
The chart below shows the comparison of auto insurance rates with and without discounts applied. The rate quotes are based on a female driver, no tickets, no at-fault accidents, California state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles.
The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with multiple vehicle, multiple policy, vehicle safety, claim-free, safe-driver, and anti-theft discounts applied. When drivers qualify for the discounts, the average savings per year on car insurance for electric cars is 28% or $493.
Irresponsible driving raises your rates
One of the best ways to receive the most affordable car insurance rates for eco-friendly vehicles is to be a cautious driver and avoid accidents and traffic violations. The information below shows how traffic citations and at-fault collisions influence annual premium costs for each age group. Data assumes a married female driver, full coverage, $1,000 deductibles, and no discounts are applied to the premium.
In the example above, the average cost of auto insurance in Oakland per year with no violations or accidents is $1,882. Receive two speeding tickets and the average cost hikes up to $2,667, an increase of $785 each year. Now add in one accident along with the two speeding tickets and the yearly cost of car insurance for electric cars goes up to an average of $3,478. That’s an increase of $1,595, or $133 per month, just for not paying attention while driving!
The information below demonstrates how choosing different deductibles can change insurance rates when trying to find cheap insurance for electric cars. The premium estimates are based on a married female driver, comp and collision included, and no discounts are taken into consideration.
A 40-year-old driver could reduce rates by $408 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $614 by switching to a $1,000 deductible. Even younger drivers, like the Age 20 chart data, could shave as much as $1,008 annually by using a higher deductible.
When insureds make the decision to increase the deductibles on their policy, it will now be necessary to have plenty of savings on hand to enable you to pay the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
Tips for buying cheaper auto insurance for electric cars
It is possible to find better rates, and here are some of the recommended money-saving ideas that can help drivers quote cheaper coverage.
- Do not get traffic citations
- Avoid at-fault accidents and claims
- Increase your comprehensive and collision deductibles
- Do not insure for full coverage
- Clean up your credit
- Vehicles with safetly features generally cost less to insure
- Shop around for lower rates once a year
The last tip is highly important, as we discussed in this article. Car insurance rates can change significantly in a year, so don’t be hesitant to buy from a different company if you find a better deal.
Many drivers prefer to stick with one company, but it’s not a great idea if that dedication is costing potentially thousands of dollars a year. Spend a few minutes and compare rates and find cheaper car insurance for electric cars in Oakland.
If you like to get some professional input when shopping for cheaper insurance for eco-friendly vehicles, the insurance agencies listed below are willing to aid you in deciding which insurance coverage will be best for you.
To find an agent nearest to you, click the link after the list.
- Farmers Insurance – Jimmie Oliver
1800 55th Ave – Oakland, CA 94621 – (510) 517-7663 - Farmers Insurance – Kim McGuire Reid
4323 Piedmont Ave – Oakland, CA 94611 – (510) 428-2016 - Farmers Insurance: Man Kin Lau
638 Webster St #200a – Oakland, CA 94607 – (510) 282-7996