While insurance costs vary by location, experts say owners of EVs can expect a lower insurance premium. "When you look at electric vehicle owners, you probably have a pretty careful bunch there," said Jack Nerad, market analyst at Kelley Blue Book. "They're probably pretty mature, and they're not the young twenty-something male who gets into the most fights and has the most car accidents.“
Insurance agencies are rolling out incentives for their greener drivers. For example, Hartford Insurance announced last month that it will offer a 5% discount to EV owners nationwide by the end of the year.
Would a lower insurance rate entice you to the drive an EV?