Wouldn’t this article be short if we could magically tell you the one auto insurance company that has the best deal on coverage for electric cars? That is not the case, however, as there are a whole slew of unknowns like if you own your own home, what level of deductibles you wish to have, whether you want full coverage, and the level of liability coverage you want, that all factor into the price you pay. We will attempt to cover these things and will hopefully give the reader a good start to your coverage search.
The type of vehicle requiring coverage is one of the largest considerations that determines whether or not you find the best cheap car insurance for electric cars. Vehicles with high performance engines, a lack of advanced safety features, or a history of substantial liability claims will cost much more to insure than more economical and safe models.
The information below presents auto insurance costs for a selection of the most economical automobiles to buy insurance for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Explorer XLT AWD | $1,247 |
| Ford F-150 XLT Crew Cab 2WD | $1,255 |
| Honda Civic DX 4-Dr Sedan | $1,290 |
| Chevrolet Impala LS | $1,298 |
| Honda CR-V EX-L 2WD | $1,302 |
| Dodge Grand Caravan Hero | $1,314 |
| Toyota Camry LE | $1,322 |
| Toyota Tacoma Double Cab 4WD | $1,314 |
| Honda Accord EX-L 4-Dr Sedan | $1,381 |
| Toyota Corolla XLE | $1,383 |
| Kia Optima LX | $1,407 |
| Chevrolet Malibu LTZ | $1,409 |
| GMC Sierra SL Crew Cab 4WD | $1,418 |
| Nissan Altima Hybrid 4-Dr Sedan | $1,409 |
| Chevrolet Silverado 2500HD LTZ Crew Cab 4WD | $1,414 |
| Jeep Wrangler Unlimited Rubicon 4WD 4-Dr | $1,457 |
| Hyundai Sonata SE 4-Dr Sedan | $1,476 |
| Nissan Rogue SL AWD | $1,482 |
| GMC Sierra 2500HD SLT Crew Cab 4WD | $1,479 |
| Ford Escape Limited 4WD | $1,481 |
| Toyota RAV4 Limited 2WD | $1,507 |
| Toyota Prius | $1,515 |
| Dodge Ram 2500 Crew Cab Laramie 4WD | $1,527 |
| Start a Quote Go | |
Table data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Premium amounts do not factor in specific Orlando, FL garaging location which can impact coverage prices significantly.
By looking at the data, you can assume that cars like the Ford Explorer, Ford F-150, Honda Civic, and Chevrolet Impala will be a few of the most budget-friendly vehicles to insure for eco-friendly vehicles.
Locating low-cost insurance is not easy, and finding out which companies have the best auto insurance rates for electric cars will take more quotes for comparison. Every insurance company has a proprietary method to establish rates, so we need to take a look at the auto insurance companies with the most affordable rates in Florida.
It’s important to know that Orlando, FL auto insurance rates are determined by lots of factors which can substantially change the price of your policy. This price variation is why drivers need to compare lots of rates to get the most economical insurance rates for electric cars. Insurance prices are calculated by many factors and change frequently, so the best option the last time you checked may now be one of the more expensive options.
Find the Best Cheap Insurance for EV’s
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $948 |
| 2 | Electric | $1,694 |
| 3 | Amica | $1,712 |
| 4 | Progressive | $1,793 |
| 5 | Travelers | $1,869 |
| 6 | Mercury | $1,914 |
| 7 | Allied | $1,985 |
| 8 | State Farm | $2,068 |
| 9 | Esurance | $2,082 |
| 10 | GEICO | $2,086 |
| 11 | Auto-Owners | $2,107 |
| 12 | 21st Century | $2,373 |
| 13 | Allstate | $2,388 |
| 14 | Windhaven Insurance | $2,653 |
| 15 | Safeco | $2,898 |
| 16 | Hanover | $2,934 |
| 17 | MetLife | $2,958 |
| 18 | Liberty Mutual | $3,131 |
| 19 | United Automobile | $3,562 |
| 20 | Direct General | $3,942 |
| Find Your Rate Go | ||
USAA normally has some of the cheapest car insurance rates in Orlando at around $948 each year. Electric, Amica, Progressive, and Travelers also make the cut as some of the cheapest Orlando, FL auto insurance companies.
As shown in the table above, if you currently buy coverage from Progressive and switched to Electric, you could earn yearly savings of in the vicinity of $99. Insureds with Travelers may save as much as $175 a year, and Mercury insureds might lower prices by up to $220 a year.
To see if you’re overpaying, click here to begin a quote or quote prices from the following companies.
Understand that those prices are averages for all ages of drivers and types of vehicles and and are not figured with 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 21 companies in the list above. That points out the importance of why you need to get car insurance quotes using your own specific driver and vehicle information.
Buying coverage from a good quality insurance provider is hard considering how many different companies insure vehicles in Florida. The company ratings below can help you choose which car insurance companies to look at putting your business with. The rankings below are for companies that write coverage in many states, so companies that focus mainly on Florida business are not factored into these rankings.
Top 10 Large Car Insurance Companies Overall in Orlando
- Travelers
- USAA
- Mercury Insurance
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
Top 10 Large Car Insurance Companies in Orlando Ranked by Value
- Mercury Insurance
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- The General
- 21st Century
- Esurance
The chart below illustrates how choosing a deductible can affect insurance prices when searching for cheap insurance for electric cars. The price estimates are based on a single female driver, comp and collision included, and no policy discounts are applied.
The chart above illustrates that a 40-year-old driver could lower rates by $448 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $674 by selecting a $1,000 deductible. Younger drivers, like the 20-year-old, could reduce their rates up to $1,148 each year by using a higher deductible.
When insureds make the decision to increase the deductibles on their policy, it will be important to have plenty of money set aside to be able to cover the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Full coverage rates vs. liability-only in Orlando
Reducing the cost of auto insurance is important to most people, and an easy way to find cheaper insurance for electric cars is to buy liability only. The diagram below shows the difference between auto insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Florida. The rate quotes are based on no claims or driving citations, $1,000 deductibles, single marital status, and no additional discounts are factored in.
On average, comp and collision coverage costs $2,362 per year over and above liability coverage. At some point, almost every driver questions if buying full coverage is a waste of money. There is no set guideline to eliminate comp and collision coverage, but there is a general school of thought. If the annual cost of coverage is 10% or more of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.
Why you should be shopping around
Orlando, FL auto insurance rates are impacted by many factors that control the policy price. Improving your credit rating, becoming a homeowner, or having an accident can cause premium changes that can cause some rates to be cheaper than before.
Additionally, companies modify rates as often as every three months in order to be able to pay unexpected claims. An extended period of higher than normal claims may result in higher priced premiums, while lower claim levels may cause lower-priced Orlando car insurance rates.
As an example, the chart below shows the cheapest car insurance in Orlando, FL for a 35-year-old male driver with a good driving record, no prior claims, and solid credit. If we estimate prices based on his current rating profile, USAA might quote the most affordable car insurance rates in Orlando at $1,180 per year. This is $1,268 less than the average price paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Travelers also make the list of the cheapest Orlando, FL auto insurance companies.
In the next rate comparison, we’ll give the driver in the first example an at-fault accident, poor credit, and a blemish on his driving record. Due to the fact that every auto insurer has a unique formula to determining premium rates, getting updated rate quotes may now result in a completely different list of companies as shown below.
USAA now has the best insurance rate in Orlando, FL with Allied, Esurance, Auto-Owners, and GEICO completing the list. This demonstrates why Florida drivers need to do a thorough rate comparison to find the most economical insurance quotes for electric cars. Auto insurance prices are influenced by many different factors and can increase or decrease at any time, so the cheapest company six months ago may now be one of the higher cost companies.
The agents shown below can probably answer your questions and help you decide which car insurance company is the best fit, since some people prefer to have a professional recommendation when trying to find the best insurance rates for electric cars. It can be complicated to find the best coverage yourself, so a licensed agent can give peace of mind knowing you have adequate coverage if you have an accident or claim.
To locate an Orlando insurance agent closest to you, click the link at the bottom or click here to get price quotes now.
- Mike Broschart – State Farm Insurance Agent
4638 S Kirkman Rd – Orlando, FL 32811 – (407) 298-2700 - Marylou Davis – State Farm Insurance Agent
6200 Metrowest Blvd #103 – Orlando, FL 32835 – (407) 857-0400 - Allstate Insurance: Luis T. Martell
7800 W Sand Lake Rd #201 – Orlando, FL 32819 – (407) 522-9293