High Insurance Rates for EVs?

[mluton]

A question about insurance in the US for the Mach-E and EVs in general. I have a Geico policy in California with three drivers (me, spouse, and teenage driver) and the 6-month premium for my Mach-E Select RWD is $1,500 while my 2019 Subaru Crosstrek is $500. My old 2007 Prius is only $350. Is this normal for EVs? Any idea what accounts for the significantly higher rates?

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[acosmichippo]

sounds insane, you should shop that around. Our State Farm premium for the first half of this year is $407 ('22 MME Select in virginia).

For comparison our '21 Mazda cx-5 base trim premium is $320.

Maybe yours are a little higher being in CA and having a teenager, but $1500 is way above your other two cars.

 

[SpaceEVDriver]

I can't remember what our premiums are (and the dollar amount is irrelevant since we're in different states), but our insurance, with Geico, went down when we traded from our VW Golf to the Mustang. Still had a male teen driver on our policy as well. But we all have very good driving records, including the teen driver.

 

[Monke]

Select RWD was cheap. It was around $350 for 6 months. Premium AWD ER is expensive ($550 for 6 months. We have to insure the extra ?.

 

[OON7]

I'm sure there are many different factors but for your comparison, mine is $508 6-month premium for 22 GTPE in Ohio on USAA. This is with a $300 comprehensive deductible, $1,000 collision deductible, and additional +20% payout if car is totaled.

 

[Woeo]

Maybe because of these sort of drivers.

 

[kirkus02]

Yikes. Definitely shop around. I'm in CA too. My Mach-e is not much more than my 2015 explorer.

 

[RedStallion]

Shop around, the prices from different providers differ significantly. I remember getting quote from Geico that was quite high. I went with Progressive. Also multiple cars, house, driving history, deductibles, etc. -- all effect premiums, so everybody gets different quote. Btw, I didn't notice a difference in premiums between Mach-E and my other similarly priced gas car.

 

[Socalsp3]

I shopped around in SoCal, the cheapest I got was from Mercury for rwd select $650 for 100/300/100 and 2k deductible and low mileage discount( 8k per year)

 

[Timelessblur]

I live in Texas but the rates on my Mach E were with in line of the car I replaced. Hell the rates on the Mach E I think are with in 10 dollars every 6 months of my other ICE powered car. I pay between 800-900 every 6 months for both my cars combined. It even went down a little when I bought my Mach E as I got a new car discount.

 

[JohnFoxeSheets]

My GEICO policy on my 2022 MME GT is only $530/6 months (and that's in San Francisco, the car break-in capital of the world). But it's just my wife and me and we're not exactly young and haven't had any at-fault claims in decades. I will say this though: I've found GEICO to be excellent at claims processing. They get stuff done, are very fair, and make shitty situations (needing to file an insurance claim) less shitty.

EDIT: If I recall correctly, the Volvo XC60 that the MME replaced was somewhat more expensive to insure with GEICO.

 

[Hammered]

I'm at 473 6mo w/ 100 300 100, full glass coverage, vanishing deductible ($400 currently), 10k med payments, $150 uninsured deduct through ford insure big brother insurance. The 90 day window sucked, but I still managed to squeak out a 25% discount w/ tons of acceleration hits. My F150 that's worth more than the MME is at like $55/mo ?

 

[hybrid2bev]

A question about insurance in the US for the Mach-E and EVs in general. I have a Geico policy in California with three drivers (me, spouse, and teenage driver) and the 6-month premium for my Mach-E Select RWD is $1,500 while my 2019 Subaru Crosstrek is $500. My old 2007 Prius is only $350. Is this normal for EVs? Any idea what accounts for the significantly higher rates?

I’m guessing that the insurance company has the teenage driver listed as the primary driver for the Mach-E. Causing the higher cost.

 

[Susanne76]

I am in CA also and I traded in my 2013 Ford Edge for my MME Select AWD. My State Farm premium went up around $70 per month to just under $1000/6 months. However this is based on driving around 15,000 miles/year and $500 deductibles. Your teenage driver might be kicking your rate up.

 

[RickMachE]

Comparing insurance rates is an exercise in futility. Rates vary by your risk profile, state, insurance credit score, company, coverage, ...

You should ensure that, IF POSSIBLE, your company is not attributing your teenage driver to the Mach-E. Sometimes, state law or insurance company policy affects allocation. Sometimes, you can fill out paperwork prohibiting a specific driver from driving a specific vehicle, and if they do you have no coverage.

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